Bitcoin is attempting a rebound Wednesday morning, after it likely found support around $7,100 following the weakness since the start of the week.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
UK FCA Probing 24 Cryptocurrency Businesses
The UK financial watchdog is investigating 24 cryptocurrency firms and also considering seven whistle-blower reports regarding the business, thus far this year, a financial news outlet reported. The Financial Conduct Authority was probing the activities of 24 unauthorized firms that are involved in the cryptocurrency business to determine whether they are carrying on regulated activities that require the agency’s authorization, the Citywire reported, citing a Freedom of Information request. Read more…
Polish Crypto-exchange BitBay Relocating To ‘Blockchain Island’ Malta
BitBay, a Polish cryptocurrency exchange, is set to relocate its operations to the ‘Blockchain Island’ Malta after suspending its exchange activity in Poland. BitBay said its exchange operations will be conducted by a new supplier in the jurisdiction of the Republic of Malta, which is a cryptocurrency friendly nation.
TE-FOOD In Deal With HALAL TRAIL For Blockchain-based Halal Food Traceability
Germany’s TE-FOOD has partnered with UK-based firm HALAL TRAIL to implement a blockchain-based food traceability solution designed for the halal food chain aimed to serve over 2 billion Muslims across the world. The two companies will create the pilots in Lancaster, Tunbridge Wells & Manchester, U.K. as a reference to be implemented globally. Read more…
Addicted To Crypto Trading? Scottish Clinic Offers Treatment
Being mired in the world of crypto currency trading for hours can be categorized under “gambling addiction,” and treated, according to one of Europe’s leading addiction rehabilitation clinics. Castle Craig Hospital in Edinburgh says after getting requests to treat cryptocurrency addiction, its alcohol, drug and gambling rehabilitation clinic is “highlighting this area of concern.” Read more…
Blockchain Technology Could Revolutionize Retail & CPG Industries: Report
A new report from auditing giant Deloitte says that the retail and consumer packaged goods (CPG) industries are poised to take advantage of blockchain technology, which could revolutionize their operations and processes. The report, titled “New tech on the block,” made the prediction after examining 50 blockchain use cases within the two sectors, and their impact on the consumer, the supply chain, and payments and contracts.
Crypto Lexicon – BLOCKCHAIN
BLOCKCHAIN is an open distributed ledger that records transactions in blocks that are secured cryptographically. This is the underlying technology of Bitcoin. This digital decentralized ledger records transactions permanently, meaning they cannot be changed in future. BLOCKCHAINs keep growing as new transactions are added to the network. Read more…
As of 10.19 am ET on Wednesday, Bitcoin was up 0.9 percent at $7,491.48 and Ethereum was higher by 1 percent at $565.86 on Coinbase.
by Jyotsna V