• Sberbank CEO Herman Gref has expressed his belief that cryptocurrencies are “a fact” of life, and that no amount of regulation can turn back the clock on this emerging phenomenon.
  • The CEO of Russia’s largest bank, the -owned Sberbank, has said that cryptocurrencies are now a feature of the modern world, like it or not.
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  • A subsidiary of global banking giant Intesa Sanpaolo is taking steps to reimagine what the $1.2 quadrillion derivatives market might one day look like on a public blockchain.
  • Instead of risking delays and relying on courts to resolve possible disputes, Morini said the team’s derivatives workflow builds the terms of resolution into the smart contract itself.
  • The project, which is only in its earliest stages, is designed to ease concerns about privacy by only interacting with the public blockchain when a derivative terminates.
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  • The rapid expansion in Tether supply has raised concerns about whether this could be one of the reasons for the overall cryptocurrency boom.
  • Since the price of each tether is pegged to fiat (dollar or euro), the overall market capitalization reflects the underlying supply of tethers.
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  • LedgerX just initiated its first long-term bitcoin futures option.
  • Under the terms of the deal, the buyer has the right to buy bitcoin at a price of $10,000 at that date, or almost a 30 percent premium on today’s price.
  • The trade option was listed by LedgerX late Friday night, and to Chou’s surprise, two institutional investors agreed to the terms of the deal just one day later.
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  • New survey data highlights the ideological and economic factors driving some investors to purchase bitcoin.
  • Twenty-one percent of those involved say its because bitcoin is “a long term store of value, like gold or silver”, with roughly 15% of those saying they bought in because a friend or family member recommended it.
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  • In China, the creation of a state cryptocurrency is not yet official, but the Chinese Central Bank (PBOC) has announced a few months ago the testing phase of their ambitious project.
  • The Chinese-Russian Cryptocurrency Alliance has been delayed until clarification of the new Chinese regulatory framework on initial coin offerings (ICO’s).
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  • A U.K. finance regulator is warning consumers about a particular kind of derivative contract based on cryptocurrencies.
  • These products allow users to speculate on the prices of different assets, and while cryptocurrencies fall under this umbrella, they ought to be considered high-risk, according to the agency.
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  • On October 31, CME Group broke the news that it would be permitting futures trading on bitcoin, prompting frenzied speculation over the boost this may give to the digital currency.
  • A week later, CME released further details, stating that bitcoin would be traded in $25 increments and would have a swing of no more than 20% above or below the previous settlement price.
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  • “The so-called private ‘cryptocurrencies’ can never prevail as general money substitutes,” Constancio said in Rome.
  • Constancio warned against central banks backing digital currencies through distributed ledger technology like blockchain.
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  • A survey by venture capital firm Blockchain Capital found that about 30 percent of those in the 18-to-34 age range would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks.
  • The digital asset has soared more than 600 percent this year, compared with gains of 15 percent for the S&P 500 Index — which might explain millennials’ attraction.
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  • Long active in evaluating blockchain technology broadly, a European Central Bank (ECB) official took steps this week to stress the institution is closely watching cryptocurrency.
  • Some nations are moving away from physical bills and coins to their own cryptocurrencies, so central banks, in general, are monitoring them closely, he continued.
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  • The Bitcoin Gold hard fork that caused a minor, temporary dip in bitcoin’s price a couple weeks ago has drawn both “boos” and “bravos” from the cryptocurrency community.
  • Many in the bitcoin community were quick to criticize Bitcoin Gold because of what they saw as its impractical idea to decentralize bitcoin mining, and also due to its plans to premine the cryptocurrency.
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  • Jameson Lopp, the lead developer at BitGo, a Blockchain security company, has calculated that Bitcoin would rank 32nd globally for its value in circulation.
  • Using this metric, and the value of Bitcoin in circulation, Lopp comes up with a figure of $122,406,125,890 for Bitcoin – its market cap at the time of calculating.
  • There are predictions that the cryptocurrency market could cross $1 tln in 2018, and because of the dominance of Bitcoin, a lot of that push will be from the original cryptocurrency.
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  • The Chinese government, which has banned the use and exchange of Bitcoin and other cryptocurrencies in the country, has made a U-turn.
  • It has banned bitcoin exchanges from operating in the mainland while Chinese financial institutions are also not allowed to hold any form of digital currency.
  • Unlike the existing digital currencies, the impending Chinese cryptocurrency will be strictly under the government scanner.
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  • Blankfein admits that he has not yet invested in the controversial on Wall Street digital currency; however, he is not ready to turn on it or pooh-pooh it.
  • Bitcoin is in a unique position as its underlying technology and its position in the market makes it the perfect consensus-backed currency.
  • There is a New World revolution that is taking place across many sectors of society, and in the monetary ecosystem, Bitcoin is a disruptive force.
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  • While the company isn’t exactly new, what it’s doing with share trading and cryptocurrencies is – and it seems to be generating success so far.
  • Trading 212’s killer feature, though, is perhaps the fact that on its crypto markets you can “sell” coins as well as buy.
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  • The Mastercard blockchain technology will complement the company’s existing capabilities including virtual cards, Mastercard Send and Vocalink to support all types of cross-border, B2B payment flows – account-based, blockchain-based and card-based.
  • Mastercard blockchain solution has the ability to power secure and seamless non-card payment ransactions such as business-to-business payments and trade finance transactions.
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  • Typically, we rely on banks in a monopolistic environment to create all the financial innovations because they have access within the system to clear money.
  • Bitcoin can potentially make central banks obsolete.A Devil’s Choice?When bitcoin was introduced governments and banks simply ignored it.
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  • In addition to speculators, risk-friendly investors, and tech natives ideologically committed to seeing cryptocurrency flourish, bitcoin has handed an abrupt and outsized advantage to ambitious people who want to get rich without having to remain within the confines of traditional financial networks.
  • In the short term, and perhaps longer, it is hard to see how Wall Street will become a dominant player in bitcoin markets.
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  • Bitcoin gold, a new fork of the bitcoin software, may not have been officially launched (or distributed to users), but that isn’t stopping the cryptocurrency markets from seeking to determine its potential value (or profiting from its eventual existence).
  • In interview, analysts expressed a reservation about bitcoin gold, both when speaking about its developer team, and when characterizing the protocol’s potential market opportunity.
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