Major cryptocurrencies were modestly higher Friday morning after four days of weakness. The Bitcoin price dropped below $7,300 Thursday, but has since attempted a comeback.
Here is a wrap of the main news from the cryptocurrency and blockchain world over the past 24 hours.
US Reportedly Opens Criminal Inquiry Into Bitcoin Price Manipulation
The U.S. Department of Justice has opened a criminal investigation into whether traders are manipulating the price of bitcoin and other digital currencies, Bloomberg reported, citing people familiar with the matter. The agency is said to be working with Commodity Futures Trading Commission or CFTC, a financial regulator that oversees crypto futures.
India Plans To Levy 18% GST On Cryptocurrency Trading: Report
India may slap an 18 percent Goods and Services Tax on cryptocurrency trades, and Bitcoin and its peers could be treated as intangible goods similar to software, the business news outlet BloombergQuint reported, citing people familiar with the matter. The proposal comes even as there is uncertainty regarding the legal status of cryptocurrency in the country.
Commerzbank, Thyssenkrupp Conduct FX Deal Through Blockchain
Germany’s Commerzbank and steel giant thyssenkrupp have completed a pilotforex forward transaction of 500 thousand euros through blockchain. thyssenkrupp initiated the EUR/PLN FX Forward deal using FX Live Trader, Commerzbank’s flagship currency trading platform.
Coinbase Acquires Crypto Exchange Paradex, Rebrands GDAX As Coinbase Pro
US-based crypto exchange Coinbase has acquired decentralized crypto-trading relay platform Paradex, which allows customers to trade all sorts of digital tokens in the community. The move is part of Coinbase’s re-branding exercise and the shutting down of GDAX.
Norfolk Southern Joins Blockchain In Transport Alliance
U.S. railway network Norfolk Southern has joined the Blockchain in Transport Alliance (BiTA). Founded in August 2017, BiTA is the transportation and logistics industry’s leading trade association for developing standards and education in blockchain technologies, a field focused on the peer-to-peer recording of transactions through use of cryptography and distributed ledgers.
Crypto Lexicon – BITCOIN FAUCET
BITCOIN FAUCET is a means to dispense bitcoins as a reward. These are often websites or mobile apps that dispense bitcoins in its small units or satoshis as rewards for visiting them or for performing some small task such as captcha completion.
As of 9.35 am ET on Friday, Bitcoin was down 0.11 percent at $7,491.69 and Ethereum was higher by 3.29 percent at $602.11 on Coinbase.
by Jyotsna V