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Bitcoin breaks above $12000 for the first time

Bitcoin breaks above $12000 for the first time

However, while Dimon may be refusing to see the potential that the currency has, others, such as Panigirtzoglou, believe that the bitcoin futures could see it becoming increasingly useful 'as a store of wealth.' This, in turn, could help push its price up even higher.

The U.K. Treasury aims at expanding its anti-money laundering and counter-terrorism regulations to cryptocurrency.

From next year, traders will reportedly have to disclose their identities to the government and platforms used to exchange the internet currencies will be forced to report any suspicious transactions they discover. The first Bitcoin transaction occurred in early 2009, and since then, the cryptocurrency market has exploded, and now major retailers, including Overstock.com, Microsoft, Dish Network, Etsy, Expedia, and even Subway have begun accepting Bitcoin for transactions in some capacity. Meanwhile, altcoins reaped the gains of a bullish market, and the number of cryptocurrencies with billion-dollar valuations swelled to a new all-time high of nineteen. Despite the fact that some might think it is an attempt to centralize the industry, in fact, this might be a benefit, as regulations might ensure an increase of trust in Bitcoin and other forms of digital money.

While cryptocurrency faces skepticism, the blockchain technology used to effectuate Bitcoin transfers has earned much praise as an alternative for future banking systems, particularly in expediting worldwide payments.

United Kingdom and European Union officials say the changes will bring exchanges in line with anti-money laundering and counter-terrorism laws. "With other products we've gone back, we've redesigned, we've relaunched". Due to this, the cryptocurrency will have no value thus it will maintain lower market price making it unsuitable as a long term investment.

Fugitive Kentucky attorney to be returned to United States after Honduras arrest
Spokesman Jorge Galindo of the country's Technical Agency of Criminal Investigation said they left Honduras on a private plane. On 12 June, Conn was sentenced to 12 years in prison in absentia - the maximum jail sentence for this fraud offence.

Dr. Garrick Hileman: It can cut both ways.

"We may be stupid for not being first on that", Intercontinental Exchange Inc. It indicated that this was a space that was becoming important, that needed regulation and at the same time there wasn't a ban issued or anything too draconian.

However, we saw the price sell off on Monday, on the initial announcement of the United Kingdom regulations, a while back we saw the price sell off even more significantly when China announced its ban on exchanges and ICO's.

Sputnik: Very recently, one country has announced its own cryptocurrency in the shape of Venezuela, with the "petro". Here's a rundown of the bull and bear cases for bitcoin and what it means to you as a prospective investor.


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