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Cryptocurrency is not (and may never be) money

In their present form, cryptocurrencies are unlikely to become widely used in the consumer payments system. This is the view of the Bank for International Settlements, which says cryptocurrency technology is inefficient, its decentralised structure is “fragile”, and it cannot

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Bitcoin down but outlook positive

Bitcoin fell to its lowest point since early April last week, falling US$280 on Tuesday to US$6455. However, market watchers are optimistic that it will recover this year. It is now around 66 per cent below its US$19,000 peak in

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CoinJar launches cryptocurrency exchange

CoinJar, which entered the market in 2013 with a retail cryptocurrency platform, has launched a high-end digital currency trading platform, CoinJar Exchange. Claiming to have the fastest exchange in Australia, Coinjar has designed the new exchange for institutional and sophisticated

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Central banks may get into digital currency

The governor of the Bank of England, Mark Carney, has not ruled out the prospect of central banks issuing digital currencies in future, despite a range of concerns about cryptocurrencies. Speaking at a conference at the Riksbank, the Swedish central

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Cryptocurrency fund market takes off

The market for managed cryptocurrency funds is starting to gather momentum with the third fund in as many months announcing its entry into the market. Every Capital is offering a couple of points of difference with its fund: it will

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Investors’ cryptocurrency focus is too narrow

Despite the steady growth in the number of cryptocurrencies that can be traded on exchanges, Bitcoin (and its variants) continue to dominate trading activity. However, traders are looking elsewhere for gains. Cryptocurrency trading service HiveEx.com reports in its Weekly Coin

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Big end of town embraces cryptocurrency

Business news and financial information company Bloomberg has joined forces with Galaxy Digital Capital Management to launch the Bloomberg Galaxy Crypto Index. The index has been designed to track the performance of the largest, most liquid portion of the cryptocurrency

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ASIC turns cryptocop

Up until recently, the Australian Securities and Investments Commission has taken a hands-off approach to cryptocurrencies and digital currency markets. But last month it received delegated powers from the Australian Competition and Consumer Commission to take action under the Australian

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Registration date for digital currency exchanges looms

Providers of cryptocurrencies are now covered by anti-money laundering and counter-terrorism financing laws. Australia’s anti-money laundering regulator Austrac has implemented new rules, which mean that digital currency exchanges with a business located in Australia must register with Austrac and meet

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Another cryptcocurrency fund comes to market

Competition in the cryptocurrency managed investment market is heating up. Just weeks after Anti Hero Capital launched a cryptocurrency fund, the blockchain and cryptocurrency adviser DigitalX has announced the formation of a new division, DigitalX Investments, and launched DigitalX Fund.

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ASIC turns cryptocop

Up until recently, the Australian Securities and Investments Commission has taken a hands-off approach to cryptocurrencies and digital

More »