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Facebook’s effort to establish a service that provides its users with local news and information is being hindered by a lack of outlets where the company’s technicians can find original reporting.
The service, launched last year, is available in some 400 cities in the United States. But the social…
In this edition of The Daily we feature two countries that want to promote their positions in the cryptocurrency and blockchain world. In the UAE a top banker has stated that keeping up with crypto is crucial to become an international financial hub and in Australia the government is investing in the local industry. Additionally, Coinbase Pro is set to implement changes to trading and fees.
Keeping up With Crypto Is Crucial for UAE
The United Arab Emirates (UAE) Banks Federation has hosted a forum on fintech and crypto assets with the Abu Dhabi Global Market, the institution which launched a regulatory framework for cryptocurrency activities in June 2018. The forum discussed, among other related subjects, how financial regulators and banks can handle regulatory risks in working with crypto businesses.
Abdul Aziz Al-Ghurair, Chairman of the UAE Banks Federation, stated: “Given the rapid emergence of new FinTech such as cryptocurrencies and other crypto assets, it is essential that we develop frameworks and regulations that govern these technologies and developments. With aspirations to become one of the foremost international hubs for finance, we must keep up with the rapid technological changes taking place across the sector. Ensuring a robust monetary and financial market environment is critical to this, and can only be achieved by protecting consumer rights and safeguarding market integrity.”
Australian Government to Support Local Industry
The Australian government has announced the development of a national blockchain roadmap as well as $ 100,000 in funding to help the country’s blockchain industry become a global leader. The promised roadmap is said to focus on a number of policy areas including regulation, skills and capacity building, innovation, investment, and international competitiveness and collaboration. The $ 100,000 in funding will help Australian companies to showcase their service at an industry event in New York in May.
Minister for Industry, Science and Technology Karen Andrews commented: “The national strategy puts us on the front foot in exploring how government and industry can enhance the long-term development of blockchain and its uses. We will work closely with blockchain and technology experts from industry and academia to develop the strategy, as well as with CSIRO’s Data61 [the digital innovation arm of Australia’s national science agency] to incorporate findings from their forthcoming future scenarios report on blockchain.”
Coinbase Pro to Implement Trading Changes
Coinbase Pro will implement a set of changes on Friday, March 22 designed to optimize the “market health” of the platform. The changes include a new fee structure, updated order maximums, smaller order increment (‘tick’) sizes, turning off stop market orders and adding market order protection points. Both Coinbase Pro and Prime will introduce a 10 percent market protection point so any market orders that move the price in excess of that will stop executing and return a partial fill, thus helping to prevent large orders from causing more than 10 percent slippage. The company explained that these changes are designed to increase liquidity, enable better price discovery for trades, and to make price movements smoother, leading to a more efficient market.
What do you think about today’s news tidbits? Share your thoughts in the comments section below.
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The post In the Daily: UAE Needs to Keep up With Crypto, Australia to Support Local Blockchain Industry appeared first on Bitcoin News.
The new limit on the state and local tax deduction will hit nearly 11 million taxpayers nationwide this year, according to a report by a Treasury Department inspector general.
It is the government’s first estimate of the effect of capping the popular deduction at $ 10,000, a key and controversial…
The cryptocurrency markets have seen significant volatility over the last 24 hours, with BTC rallying by 7% to test resistance at $ 4,200, before violently crashing approximately 10% back below $ 3,800. BCH has posted comparable volatility, currently trading for $ 135 after rallying above $ 150 for the first time since Jan. 10 earlier today.
BTC Fails to Establish Support at $ 4,000
BTC briefly rallied above $ 4,000 today after gaining more than 4% in one hour. The rally saw BTC test $ 4,200 for the first time since Dec. 2018, before crashing 9% in less than 60 minutes as bulls failed to establish support at $ 4,000. Bitcoin core is currently trading for roughly $ 3,800.
BTC currently has a market cap of $ 67.32 million and a dominance of 52.1%.
BCH Briefly Trades Above $ 150
BCH produced a more steady rally today, gaining 11% in 12 hours to trade above $ 150 for the first time in approximately seven weeks. After support failed to hold at $ 150, BCH shed 15% in less than one hour. Bitcoin cash is currently trading for roughly $ 130.
When measured against BTC, BCH gained 5% in two hours to establish resistance at 0.0375 BTC, before falling 7% in one hour. BCH is currently trading for approximately 0.0345 BTC.
BCH is the sixth largest crypto asset with a market capitalization of $ 2.34 billion and a dominance of 1.85%.
ETH Tests Resistance at 0.04 BTC
Ethereum gained 13% across the course of 12 hours today, breaking above the $ 150 area before posting a local top at $ 170. The gains were short-lived, with ETH crashing 15% in one hour after support at $ 165 failed to hold. Ethereum is currently trading for $ 150.
When measured against BTC, ETH gained 6% in 12 hours to post resistance just below 0.04 BTC, before falling 9% in less than three hours. ETH is trading for 0.0363 BTC as of this writing. Ethereum is the second largest cryptocurrency with a capitalization of $ 14.61 billion and a dominance of 11.52%.
What direction do you expect the crypto markets will trend in during coming days? Share your thoughts in the comments section below!
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Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
The post Markets Update: Leading Cryptocurrencies Briefly Break Local Resistance appeared first on Bitcoin News.
A coalition of Northern California cities and counties is calling for state officials to remove Pacific Gas & Electric from the business of buying and selling electricity, which they say would allow the troubled company to focus on the safety of its poles and wires and reduce the risk of deadly…
President Trump again indicated this week he might be open to revisiting the controversial new limit on state and local tax deductions that hits many middle-income residents hard in California and other high-tax, Democratic states.
Even so, don’t count on any changes to the Republican tax bill…
The Diocese of Covington’s investigation into the viral Washington DC confrontation between Covington Catholic students and a Native American elder is complete, and the official word from Bishop Rev. Roger Foys is that the students from the Kentucky high school did not initiate the incident and their behavior was what…
President Trump said he’d consider changes to a cap on the federal deduction for state and local taxes, one of the most divisive provisions of the 2017 Republican tax overhaul.
Trump told regional newspaper reporters in response to a question Wednesday that he’s “open to talking about” revisions…
We’re so accustomed to having our cable bills routinely go up by absurd amounts, it hardly seems like news when a cable company inflicts more pain on customers.
So perhaps Spectrum subscribers won’t be surprised to learn that the monthly fee they pay for access to local channels will rise March…