Bitcoin remained above $8,000 Friday morning after the sharp rally a day earlier that has boosted overall market sentiment. Vietnam has joined the list of Asian countries trying to rein the nascent industry after a multi-million dollar scam. And as regulators in the region talk tough, yet another Hong Kong-based cryptocurrency exchange announced plans to expand into Malta.
Here is a wrap of the main cryptocurrency news over the past 24 hours.
Bitcoin Holds Above $8K After Strong Rally
Bitcoin, the top cryptocurrency, is holding above $8,000 Friday morning after it caught by surprise a day earlier by surging over $1,000 in less than 60 minutes to reach above that level for the first time in two weeks. Reasons speculated over Twitter and social media platforms ranged from the April 17 tax deadline in the U.S. to the news of an Islamic scholar declaring that Bitcoin was 'halal' or in compliance with the Islamic law Sharia. Read more...
Vietnam Vows Cryptocurrency Crackdown After $660 Mln Scam
The government of Vietnam has announced a crackdown on the country's cryptocurrency market in the wake of a multi-million-dollar fraud. Ho Chi Minh City-based startup Modern Tech JSC has gone underground after duping 32,000 people of an estimated VND 15 trillion or $660 million in relation to two fake cryptocurrency projects and their initial coin offerings (ICOs). Read more...
Hong Kong's OKEx Expanding To 'Blockchain Island' Malta
Hong Kong's OKEx became the second major cryptocurrency exchange to announce its intention to expand operations to Malta after Binance, the world's largest cryptocurrency exchange by 24-hour trading volume. Binance announced plans to open in Malta in late March after it fell out of favor with the Japanese financial regulator for failing to get a license to operate in the country. Read more...
Tourists In Caribbean Can Pay In Cryptocurrency
The Tourism sector in the Caribbean countries is encouraging payments in Cryptocurrency for related services and products offered in the region. The Caribbean Tourism Organization (CTO), the region's tourism development agency, it is in deal with blockchain company, Bitt Inc., to facilitate more efficient payment processes for tourism-related products and services. Read more...
Crypto Tutorial: All About Cryptocurrency Exchanges
Cryptocurrency exchanges are a crucial player in the cryptosphere as they are key to supporting prices of different cryptocurrencies, disseminating information, and facilitating transactions in digital currencies through their platforms. Here is a primer on cryptocurrency exchanges. Read more...
As of 9.26 am ET on Friday, Bitcoin was up 6.36 percent at $8,183.63 and Ethereum was higher by 13.28 percent at $523.42 on Coinbase.
by Jyotsna V