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| December 12, 2018

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CNN

Eiffel Tower, Louvre to close amid fears of weekend protests

December 8, 2018 |

France is bracing for another weekend of protests that could rock Paris and other parts of the country.
CNN.com – RSS Channel – World

U.S. Stocks Fall Sharply Amid Trade Tensions, Growth Fears

December 8, 2018 |

Investors’ retreat from U.S. stocks turned into a stampede Friday, with major indexes suffering declines of more than 4% for the week that made it the worst start to a December since 2008. The Dow fell more than 550 points amid trade-related tensions.
WSJ.com: What’s News Asia

Paris Locked Down Amid Riot Fears

December 7, 2018 |

Saturday might not be the best time to take in the sights of Paris: Authorities, fearing a repeat of last week’s violent protests, are closing major tourist sites including major museums and the Eiffel Tower, the BBC reports. Thousands of anti-government “gilets jaunes”—”yellow jacket”—protesters took to the streets…
Newser

Solid U.S. jobs report expected amid sharp market volatility

December 7, 2018 |

Friday’s jobs report for November is expected to point to a solid economy for most Americans, with steady hiring, a low unemployment rate and faster wage gains.

If so, it would provide a dose of welcome news after this week’s frantic financial market gyrations, which have been driven by concerns…


L.A. Times – Business

Amid Brexit Drama, EU Flexes Its Muscles With Swiss

December 3, 2018 |

Britain isn’t the only European country tangling with Brussels over future relations with the European Union. Switzerland is in its crosshairs too.
WSJ.com: What’s News Europe

Nissan Cancels Electric-Car Debut Amid Turmoil

December 2, 2018 |

Nissan canceled the debut of its upgraded Leaf electric-car line at the Los Angeles Auto Show amid turmoil resulting from the alleged financial misconduct, arrest and firing of former chairman Carlos Ghosn.
WSJ.com: US Business

Amid Crackdown, SEC Chairman Emphasizes Compliance Requirements

December 1, 2018 |

Amid Crackdown, SEC Chairman Emphasizes Compliance Requirements for ICOs

Jay Clayton, the chairman of the U.S. Securities and Exchange Commission (SEC), recently discussed the current regulatory climate surrounding initial coin offerings (ICOs). Clayton emphasized that all ICOs must register with the SEC to ensure compliance with U.S. law.

Also Read: Estonia to Tighten Rules for Licensed Crypto Companies

Requirements for Regulatory Compliance

Amid Crackdown, SEC Chairman Emphasizes Compliance Requirements for ICOsThe SEC chairman reiterated that the SEC does not see bitcoin as a security. However, it does view the tokens that are offered in many ICOs as securities. “If you’re going to offer and sell securities, you have to do that in compliance with our laws,” Clayton said.

Recent regulatory moves by the SEC against ICOs “further emphasize that our securities laws do apply to the ICO space,” he added. “If people are going to raise money using initial coin offerings, they either have to do so in a private placement, or they have to register with the SEC … when you register with the SEC, you’ve got to provide financial statements and disclosure along the lines that we would expect.”

When asked if all ICOs are noncompliant, Clayton responded by simply noting that he hasn’t seen any ICOs register with the SEC. He acknowledged that ICOs “conducted off-shore” or those that are “pursuant to a private placement exemption” could fall outside of the SEC’s regulatory purview. However, he added that “to the extent that you’ve conducted a public offering in an ICO, it’s noncompliant.”

No Comment on Timing of ETF

Amid Crackdown, SEC Chairman Emphasizes Compliance Requirements for ICOsWhen asked about the proposed Vaneck bitcoin exchange-traded fund (ETF), Clayton declined to “comment on timing.” However, he asserted that the SEC has been clear about several matters of regulatory concern. Among the issues it has identified are “whether there is reliable price information on trading markets.” The SEC has also looked at concerns about custody, particularly “whether people who hold those assets can count on those assets to be there in the same way you can with other assets that underlie an ETF.”

In a recent appearance on the “What Bitcoin Did” podcast, SEC Commissioner Hester Peirce discussed the SEC’s decision to reject nine proposed bitcoin ETFs earlier this year. She stated that the the commission has a tendency to “sometimes look at crypto and … say, ‘well it is very different from any other asset class’.” However, she added that while the notion is “to some degree true … there are similarities with other asset classes if you look at something like gold.”

Do you think that ICOs will begin to register with the SEC as cryptocurrency becomes more mainstream? Share your thoughts in the comments section below.


Images courtesy of Shutterstock


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The post Amid Crackdown, SEC Chairman Emphasizes Compliance Requirements appeared first on Bitcoin News.

Bitcoin News

CNN

French Jews live in fear amid rising anti-Semitic acts

November 30, 2018 |

In a Parisian suburb, Myriam sits at her parents’ dinner table, the Shabbat candles flickering before her. Together with her husband and newborn son she takes stock of the painful week she’s had. It’s a regular conversation for many French Jews.
CNN.com – RSS Channel – World

Russian Miners Sell Their Equipment Amid Market Plunge

November 27, 2018 |

Russian Miners Sell Their Equipment Amid Market Plunge

A growing number of Russian miners are looking to sell their hardware. The recent market correction has decreased the profitability of minting digital coins, especially for enthusiasts who are mining in their homes, basements and garages.

Also read: Bitcoininfo.ru Wins Court Case Against Ban

Russian Miners Selling Used Hardware

Amateur mining used to be very popular in Russia, where electricity rates for individual consumers are pretty low. In some Russian regions prices are currently below $ 0.01 per kWh. The cryptocurrency market sell-off of the last few weeks, however, has squeezed the profitability of small-scale mining operations, as the value of most cryptocurrencies has decreased significantly.

In just two days last week, the number of ads selling secondhand mining rigs increased by 25 percent, according to data shared by the popular Russian online marketplace Youla. But since the beginning of the year, searches for video cards on the platform have fallen by almost a quarter, according to Russian daily Izvestia.

Russian Miners Sell Their Equipment Amid Market Plunge

GPUs, or graphics processing units, are used to mine some of the altcoins that don’t require massive computing power. Yet demand has fallen about 2.5 times for GPU mining rigs since the start of the year, and Youla has noted a threefold decrease in the number of searches this year for more specialized equipment, like rigs with application-specific integrated circuits (ASICs), which are capable of mining cryptocurrencies that require more hashing power.

Mining hardware prices have also fallen significantly. The average price of a single mining rig was around 240,000 Russian rubles (~$ 3,500) in January, but they now sell for just 150,000 rubles (~$ 2,200), or roughly 37.5 percent less.

Changing Times

This year has not been particularly kind to cryptocurrency investors and miners, with the price of BTC falling around 80 percent from last year’s all-time highs. The diminishing returns have forced some miners out of business, with a number of media reports from China referring to companies that have been selling their equipment.

Cryptocurrency mining in Russia has expanded rapidly over the last few years; in many respects, it has already become an industrialized business. Home mining has also become a source of income for a number of crypto enthusiasts. But many Russian miners have started to question whether they can continue to mine for much longer, as their profits have been sliding.

Russian Miners Sell Their Equipment Amid Market Plunge

Mining operations, like many cryptocurrency-related businesses, are still unregulated in Russia. According to recent reports from Moscow, the term “mining” has been dropped from the draft legislation on digital financial assets that is now under review in the Russian parliament. That means mining could remain unregulated for some time.

In general, the authorities in Moscow have indicated that they have a much more positive attitude toward crypto mining than the use of cryptocurrency in general, as mining does not contradict Russian law. Proposals have been made to introduce a preferential tax regime and even tax breaks for miners in the energy-rich country. Digital currencies, on the other hand, are considered “money surrogates,” which are illegal under the current Russian legislation.

Do you think amateur mining can still be profitable? Share your thoughts on the subject in the comments section below.     


Images courtesy of Shutterstock.


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The post Russian Miners Sell Their Equipment Amid Market Plunge appeared first on Bitcoin News.

Bitcoin News

Taiwan votes in local elections amid pressure from China

November 24, 2018 |

Taiwanese began voting in midterm local elections Saturday seen as a referendum on the independence-leaning administration of President Tsai Ing-wen, amid growing pressure from the island’s powerful rival China.
FOX News