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Data shows derivatives had little to do with Bitcoin’s drop to $29K

After a brief recovery to $41,000 on June 14, Bitcoin (BTC) investors might have thought that the bear market was finally over. After all, it was the highest level since May 21 and the date that MicroStrategy (MSTR) announced a successful $500 million debt offering.  The funds are usually available in one or two business …

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Chinese Bitcoin miners ‘not even in the mood to drink anymore’

China, once home to about 65% of the total Bitcoin (BTC) mining hash power has given the boot to several miners in the country. The country’s Bitcoin mining ban means miners have been forced to shut down their operations with some establishments already moving hardware overseas. Tweeting on Wednesday, Kevin Zhang, vice president of crypto …

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Data shows Bitcoin bears dominate Friday’s $2.5B BTC options expiry

Bitcoin (BTC) price dropped roughly 22% over the past 7 days, retesting the $31,700 area for the second time in June. The most pressing news for the negative performance has been China supposedly cracking down bank accounts of over-the-counter desks, according to some analysts: China cracking down on the bank accounts of #bitcoin OTC desks, …

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TSB Bank Plans to Ban Cryptocurrency Purchases Due to Increasing Fraud Numbers: Report

<div class=”featured_image_container”> </div> <strong>TSB, a British bank, is planning to ban cryptocurrency purchases due to fraud concerns. The company reported an alarming number of fraudulent transactions on cryptocurrency purchases. Reportedly, transactions involving Binance, the cryptocurrency exchange behemoth, are involved in two-thirds of these fraud reports. A Binance representative denies these claims and said the exchange …

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Tehran Government Bans Iran Blockchain Association

<div class=”featured_image_container”> </div> <strong>The Ministry of Interior of the Islamic Republic has suspended the Iran Blockchain Association (IBA). The measure comes after the organization allegedly breached government regulations. IBA unites participants in the country’s growing crypto sector who are engaged in blockchain technology development. </strong> Iranian Authorities to Review IBA Dealings With Crypto Exchanges The …

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The Netherlands should regulate crypto instead of banning it, says finance minister

A cryptocurrency ban is not the right solution for the Netherlands, the country’s finance minister reportedly said after a local official called for a total ban on crypto. The Netherlands should regulate the cryptocurrency market instead of prohibiting its citizens from using crypto entirely, Dutch minister of finance Wopke Hoekstra stated, according to a Friday …

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Russian Court Bans Websites Explaining How to Trade Bitcoin

<div class=”featured_image_container”> </div> <strong>A court in Russia’s Perm region has decided to block a number of websites describing how to exchange cryptocurrency for fiat cash. Local prosecutors claim the dissemination of this type of information is against the law in Russia as it may facilitate the laundering of illicit funds. </strong> Kungur City Court Blocks …

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Tiger Brokers and Futu to Offer Crypto Trading Services Outside China

<div class=”featured_image_container”> </div> <strong>Two Chinese online brokerages have set out to enter the global crypto trading market. The platforms, Tiger Brokers and Futu, are planning to offer their services only outside the People’s Republic as Beijing is once again cracking down on bitcoin trading in the country. </strong> Major Chinese Online Brokers Dive Into Crypto …

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Iran Warns Crypto Investors Amid Ban on Bitcoin Mined Outside Its Borders

<div class=”featured_image_container”> </div> <strong>The Central Bank of Iran has issued a warning against unrestrained crypto trading and reminded investors that only cryptocurrencies minted by licensed miners in the Islamic Republic can be used under limited circumstances. Traders will bear full responsibility for the risks, the bank cautioned, although spending crypto on imports through approved banks …

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South Korean Police Officers Banned From Buying Cryptocurrency

<div class=”featured_image_container”> </div> <strong>A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. </strong> South Korea to Penalize National Police Agency Officers Who Fail to Disclose …

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