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Bank of England Accrediting Cryptocurrency? New £50 Note to Feature Alan Turing

The Bank of England has announced a new face for its £50 pound note. British mathematician and computer scientist Alan Turing has been chosen from thousands of names including Rosalind Franklin, Ada Lovelace, Stephen Hawking submitted by the public. As For Why Turing? “Turing was an outstanding mathematician whose works had an enormous impact on […]
Bitcoin Exchange Guide

Bank of England Governor says Libra must meet a high bar

The Bank of England’s governor, Mark Carney, has high standards for Facebook’s Libra. The bank head said the coin will need to be “rock solid” in order to get off the ground, according to a report from Bloomberg.  The BOE governor has said he and other officials are approaching Libra with an open mind, but it will be subject to a careful eye. At a press conference today he said the initiative creates a variety of questions, and consequently, the Group of Seven (G7) central bankers are looking further into Facebook’s proposal.  The margin of error for a service this ambitious is zero for Carney. The standards are higher when dealing with this kind of application in comparison to other technologies, he said. Carney’s concerns are similar to those expressed by Federal Reserve Chairman Jerome Powell, who said Libra creates many serious concerns surrounding AML, consumer protection and privacy. Lawmakers stateside have expressed similar concerns ahead of hearings in the U.S. House and Senate, where Facebook exec David Marcus is expected to testify.
The Block Crypto

Majority of Investors Doubt Bank of England’s Interest Rate Prediction

54% of peer-to-peer lenders surveyed are not confident in the Bank of England’s claim that there will be more frequent increases to the interest rate in the next two years, according to the latest figures from Assetz Capital’s Q2 Investor Barometer.   The peer-to-peer marketplace lender canvassed the views of its 34,400-strong investor community and found that 41% were confident in the central bank’s prediction that there will be more frequent increases to the interest rate. Just 4% were very confident in the claim.   The Bank of England has kept interest rates on hold at 0.75% since August last year amid continued uncertainty over Brexit. In May, governor Mark Carney claimed that interest rate increases could be “more frequent” than expected if the economy performs as forecast, a claim that was reiterated in the central bank’s most recent Annual Report. Stuart Law, CEO at Assetz Capital, said: “It’s unsurprising that our investors are sceptical about the Bank of England’s pledge given the present lack of a solid base for that claim. The Bank made similar noises last year before making a U-turn after inflation dropped in January, and the economic consequences of whatever form of Brexit we eventually see or don’t see are yet to be felt this year. We’ve also seen the temporary economic boost from Brexit related stockpiling and that now needs to unwind and is likely to suppress growth for a period. Even if the Bank of England does increase interest rates to some degree at some point, it is unlikely to help bank and building society savers much as such base rate rises are seldom fully passed on, unlike borrowing costs to borrowers where base rates are nearly always passed on.  Ensuring that SMEs and property developers can easily access important growth capital should be prioritised as a sustainable way to drive economic growth in the current climate, something that we continue in our drive to achieve as we approach £1bn lent to UK businesses to date.”  The post Majority of Investors Doubt Bank of England’s Interest Rate Prediction appeared first on The Fintech Times.
The Fintech Times

Bank of England allows Facebook to bank at Threadneedle Street

Before Facebook launched its Libra project, several rumors predicting the social media giant’s move were doing the rounds. At that time, Caitlin Long, Co-founder of the Wyoming Blockchain Coalition, had laid out six predictions. Long has got one right. Long had predicted that Facebook might get special deals from governments and according to the Financial […] The post Bank of England allows Facebook to bank at Threadneedle Street appeared first on AMBCrypto.

Can Bitcoin Cross $10,000? | Bank of England wants to control Libra coin

#bitcoin #cryptocurrencies #crypto What are your thoughts on bitcoin? Do you see a rejection at $10,000 or a follow through to the upside? Feel free to leave a comment below! Thank you all so much for watching the video. If you enjoyed the video, please consider dropping a like, subscribing, and ringing the bell icon. Email List: Get $100 of free Energi: Steem User ID: @nicholasmerten!/c/nicholasmerten ---------------------------------------------------------------------------------------------------------- Want to support the channel? Here are some ways how: ---------------------------------------------------------------------------------------------------------- 👨‍💻 Want to start trading a wide range of crypto? My top choice is Binance. 🙋‍♂️ Want to buy crypto? Get $10 of bitcoin w/ your first purchase over $100 💹 Interested in signing up for our newsletter? 💰 Want to start spending crypto? Use the code RT3BSJ at and earn rewards! 📈 Want to chart like a pro? Use code DataDash for $10 off 🏨 Want to save up to 40% on your hotel booking? Try Travala: 📈 Want to buy stocks commission-free? Try Robinhood: 🤝 Want to trade OTC? Caleb & Brown is my personal favorite to get started. ⚖️ Looking to buy physical gold or silver? I like Gold Silver LLC: 👨‍💻 Want to browse privately and earn money? Check out the Brave Browser: 📝 Looking to file your crypto taxes? Check out TaxBit: 📅 Want to spot important dates? Check out CoinMarketCal: 👥 Check out all of our partners: Donate NANO: xrb_3y7qi1z5kcpgi9cnk4bctus155qntiy1cszfmeh9zg7eqqqjb9imebsqf33t BTC: 14DHXJa9CgeBPf6m7UeMKE9yzAYFKPW2nV ETH: 0xa34d3461ae04953489e9aa464689c022836751d0 Patreon: ---------------------------------------------------------------------------------------------------------- Join our community channels! ---------------------------------------------------------------------------------------------------------- Telegram Alerts | Telegram Discussion | Discord: ---------------------------------------------------------------------------------------------------------- For advertising, consulting, speaking, or other business inquiries ---------------------------------------------------------------------------------------------------------- WARNING: *I WILL NEVER PURSUE PROJECTS THROUGH TELEGRAM OR OTHER SOCIAL MEDIA OUTLETS. CONTACT MY EMAIL LISTED BELOW FIRST AND THEN VERIFY MY IDENTITY THROUGH A VIDEO CALL BEFORE MOVING FORWARD. THERE ARE MANY SCAMMERS IN CRYPTO. EMAIL SPOOFING IS RAMPANT, SO VERIFY MY IDENTITY THROUGH VIDEO* Feel free to reach us at Disclaimer: Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.

Facebook’s Libra concept sees a half-hearted welcome from Bank of England’s Governor

Ever since Facebook, (the tech giant that taught the world how not to do privacy), unveiled Libra, it has amassed both positive and negative sentiment of both regulators and financial players across the globe. The idea of a coin that promises to “create a simple global currency” was immediately shot down by regulators in the […] The post Facebook’s Libra concept sees a half-hearted welcome from Bank of England’s Governor appeared first on AMBCrypto.
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Bakkt Official Launch Date, Ethereum Upgrade, Coinbase Bank & Is Everyone Ready?

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The Modern Investor

CME Futures CRUSHED Bitcoin... Will Bakkt do the Opposite?

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sunny decree

Here’s Why Bakkt Launch Is a Blessing For Bitcoin Holders

Yesterday’s big announcement that regulatory approval has been granted to Bakkt could be the best news bitcoin investors have had this year. It opens the door to the institutional investors and is a huge step forward for crypto industry legitimization in the US. Bakkt To Launch Next Month After months of procrastination, the new cryptocurrency trading platform launched by the Intercontinental Exchange (ICE) has finally been given the green light. The news that the Commodity Futures Trading Commission (CFTC), and the New York State Department of Financial Services, has granted regulatory approval broke late yesterday as reported by Bitcoinist. The concept of physically delivered bitcoin futures will require investors to either produce actual BTC or take delivery in them from their respective exchanges and platforms. Crypto trader at TexasWest Capital, Scott Melker, who also goes by the twitter handle ‘Wolf of All Streets’ stated the news was ‘arguably the most bullish event for institutional investors in the history of bitcoin’. The @Bakkt news is arguably the most bullish event for institutional investors in the history of bitcoin. PHYSICALLY delivered futures (require the holder to either produce actual bitcoin or take delivery from the exchange) backed by the New York Stock Exchange. We are maturing. — The Wolf Of All Streets (@scottmelker) August 16, 2019 Being backed by the New York Stock Exchange has granted bitcoin a level of legitimization never seen before. Investors will get the opportunity to trade in daily and monthly physical bitcoin futures contracts which is likely to lead to greater mainstream adoption. Bakkt is also planning to onboard a number of commercial retailers such as Starbucks which will provide an easier way for people to make purchases using bitcoin and other crypto assets. General Counsel for Compound Finance, Jake Chervinsky, was equally bullish on the Bakkt news stating that: “It offers a way for large, risk-averse institutions to buy and custody bitcoin through an end-to-end regulated system approved by the CFTC and NYDFS, and backed by the sterling reputation of ICE. Compliance lawyers rejoice!” The former litigator also noted that there is still a long way to go since there is still the SEC to contend with. When questioned on the possibility of big investors trying to short bitcoin he added; “Short sellers betting against a commodity probably don’t want to hold the underlying, so shorting via physically-delivered futures is more for entities that are net long (like miners) and want to hedge.” Fintech Business Analyst going by the twitter handle ‘Mr. Gordon’ was equally bullish on Bakkt; “This must be what it feels like to win the lottery!  The confirmation of the launch of #Bakkt changes EVERYTHING… Those of us who have been investing in crytpo for the last couple of years now have some very serious decisions to make…” This must be what it feels like to win the lottery! The confirmation of the launch of #Bakkt changes EVERYTHING.. Those of us who have been investing in crytpo for the last couple of years now have some very serious decisions to make….. Like which colour to get — Mr Gordon (@MrGordon_UK) August 16, 2019 Picking a Lambo color is probably a little presumptuous at the moment. Bitcoin price did not even react to the announcement as markets remain choppy this morning. BTC is still consolidating in the mid-$10k range after two dips into four-figure territory late in the week but the long term prospects have just brightened significantly. Will Bakkt send Bitcoin price to a new all-time high later this year? Add your thoughts below. Images via Bitcoinist Image Library, Twitter: @scottmelker, @MrGordon_UK The post Here’s Why Bakkt Launch Is a Blessing For Bitcoin Holders appeared first on

Bakkt launch bears good news for Bitcoin’s price and regulation

One of the biggest news last year was the announcement made by the New York Stock Exchange’s parent company, Intercontinental Exchange. In August 2018, The firm announced that it would be venturing into the cryptocurrency space with the launch of a new company – Bakkt. This turned out to be an extremely bullish news in […] The post Bakkt launch bears good news for Bitcoin’s price and regulation appeared first on AMBCrypto.

Bakkt’s Gets Nod for Physically Delivered Bitcoin Futures Approved from CFTC

The Commodities Futures Trading Commission (CFTC) has greenlighted the physically delivered Bitcoin futures product by Bakkt. Company CEO confirmed the news and said that the derivatives product would debut on September 23. Bakkt will be the first to debut physical BTC futures Kelly Loeffler, CEO of Bakkt recently announced that the startup had won approval from the US CFTC to start offering physically settled Bitcoin futures contracts. Bakkt is backed Intercontinental Exchange, and Loeffler is married to Jeff Sprecher, the CEO of ICE. With this approval, Bakkt will become the first company to launch the physical BTC futures. The products will debut on the market on September 23, and all contracts will be cleared by ICE Clear US, the same service that clears trades for NYSE. Loeffler gave a lengthy statement on the product suggest that Bakkt’s product received CFTC approval after a self-certification process. They have also started user acceptance testing. The Bitcoins backing the futures contracts will be under the custody of Bakkt Warehouse. Bakkt Trust Company, a qualified custodian, has also received approval from the New York State Department of Finance Services. She said, “This offers customers unprecedented regulatory clarity and security alongside a regulated, globally accessible exchange in a market underserved by institutional-grade infrastructure.” Bakkt wins the race The ICE-backed startup is not the only company eyeing the lucrative physically-settled Bitcoin futures sector. Numerous other companies like LedgerX are planning to bring the same opportunity to the market. LedgerX could have become the first company to launch these products as it received approval for offering futures, options and swaps settled in Bitcoin by the CFTC. However, the regulator says that the company lacks adequate approvals for launching the physical futures product. Meanwhile, Bakkt has decided to offer two types of futures contracts- daily and monthly. The collection of variation margin and initial margin collateral will be done by ICE Clear US. Product testing began last month to ensure that there are no hiccups when it eventually launches for the buyers. The qualified custodian of Bakkt will help in addressing concerns of the regulator related to manipulation and theft. Note that the company acquired Digital Asset Custody Company (DACC) earlier this year to win the New York regulator’s approval to become a qualified custodian. The company has also decided to pay $35 million for hedging against risks. Loeffler says that doing so will help bring safety for market participants and bring more integrity to this sector. The post Bakkt’s Gets Nod for Physically Delivered Bitcoin Futures Approved from CFTC appeared first on - Daily Cryptocurrency and FX News.
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