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In a move to regulate the cryptocurrency market in India, Finance Minister Arun Jaitley today cleared that it is not legal tender and it will discourage its use. However, he mentioned that the government will look at the utilisation of blockchain technology. During the run-up to the budget, there have been talks that the government could come out with a roadmap to regulate the cryptocurrency market. There has been rising craze among investors to put in their hard-earned money into the highly volatile cryptocurrency market setting off alarm bells in the government. There have been reports that several banks have frozen account cryptocurrency exchanges in India, while the registrar of companies (ROC) has stopped registering companies intending to act as such exchanges. There have also been fears that devious fly-by-night operators would take advantage of the greed among those looking for quick, short term gains and disappear after collect money, causing headache for the ...

Bitcoin’s trajectory of the last year has been nothing short of incredible. The continued record highs have attracted the attention of the media, the public, governments, banks, and many more. As more and more cryptocurrency millionaires popped up, more investors wanted a piece of the action, until we found ourselves in the midst of a massive crypto hype. However, it’s not just bitcoin that captured the attention of millions around the world. Ripple quietly grew to prominence until a few weeks ago, when it spiked with over 36,000%, more than doubled in its price and quickly became one of the new darlings of the crypto world. Ripple’s boom followed shortly after several international banks, as well as Korean and Japanese credit card firms, stated that they would use Ripple technology to pilot test projects. At the time of writing, ripple (XRP) is w...

Security in the cryptocurrency space needs a closer look   12 Hours Ago | 03:09 South Korean regulatory plans to tackle cryptocurrency speculation spooked investors earlier this month. But as the new rules take effect on Tuesday, participants in the market are sounding a pos...

Jeet Singh, a cryptocurrency portfolio manager for the last six years, says it is common for virtual currencies to fluctuate by 70 or 80 percent. Speaking at the World Economic Forum in Davos, he compared cryptocurrencies such as bitcoin and Ripple to early tech giants like Microsoft. He said: "If you look at Microsoft or Apple, when they went public their stocks were very volatile because the market wasn’t mature." The volatility of the market may have worried newer cryptocurrency traders, but long-time investors are less concerned, as they are used to some fluctuations, Mr Singh explained.  As the market for bitcoin becomes more mainstream, and traders begin to better understand cryptocurrencies, some of this volatility is likely to calm down. Mr Singh predicts: "Bitcoin could definitely see $50,000 in 2018." However, he added: "We will probably go through a suffering period of volatility" around the time of Bitcoin’s next $10,000 landmark. B...

The US is concerned that the rise of bitcoin is being used for "illicit activity", according to the US government. Donald Trump's most senior financial policymaker has urged for international regulation to stop the use of cryptocurrencies for crime and other problem behaviour. The Davos meeting of economic leaders has seen a number of statements about the future of cryptocurrency. Theresa May, for instance, said she was taking "very seriously" the prospect of cracking down on the use of bitcoin and other digital money . US treasury secretary Steve Mnuchin said that he shared those concerns, and suggested that the world needed to work together to focus on cryptocurrencies to make sure that financial markets are safe. "My number-one focus on cryptocurrencies, whether that be digital currencies or bitcoin or other things, is that we want to make sure that they're not used for illicit activities," he told the World Economic Forum in ...

If it's true that the bigger they are, the harder they fall, then cryptocurrencies have been gearing up for a tremendous decline. But, then again, maybe this is just the start for the great crypto bull market. As of Monday, the entire cryptocurrency market stands at approximately $563 billion, according to industry site CoinMarketCap, which represents a more than 3,400 percent increase from the beginning of 2017. With some cryptocurrencies soaring several thousand percent, Google search results for the space coming in at all-time highs and lots of people hoping for overnight riches in nascent markets, it begs the question: Just how far can this growth be sustained and are we in a crypto currency bubble? I'm not going to argue whether or not the space is dangerously overinflated, but I am in the business of considering worst-case scenarios. My company, TenX, provides debit cards that people can use to spend their cryptocurrencies, so I want to always be prepared for wh...

Bitcoin’s price limbered up slightly from yesterday but still failed to break the $12,000 barrier. According to Coindesk’s index, a single bitcoin could set you back by $11,222.71, an increase of 3.53% from its price 24 hours ago, at 13:55 UTC. The mostly sideways movement in bitcoin’s price occurred even after UBS Chairman Axel Weber told Bloomberg at the World Economic Forum that the bank will not offer bitcoin investing services to clients as government regulation of the cryptocurrency might result in a “massive correction” and an implosion in its price. Gains for other cryptocurrencies outpaced that of bitcoin. Among the top 10 most-traded coins, Stellar’s Lumens was the biggest gainer, rising by 26.13% to trade at $0.57. The cryptocurrency, which shares technology with Ripple’s XRP, might soon be on payments processor Stripe's network. At 14:09 UTC, the overall market capitalization for cryptocurrencies was $552.7 billion, up from a low of $515.5 billion ear...