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Apple bans cryptocurrency mining on its devices

Summary:

  • Apple has banned cryptocurrency mining apps on its devices

  • Ethereum (ETHEREUM on xStation5) once again respects the $500 handle

  • Canadian watchdog proposes to treat cryptocurrency exchanges as MSBs

Most of the major digital currencies have tried to recoup some of the recent losses during the past hours. In turn we are observing gains across the board with Ripple and Ethereum being some of the top gainers. The capitalization of the whole market managed to climb back above the $300 billion according to the CoinMarketCap. Mining enthusiasts may be disappointed as one of the world’s biggest companies took a bold stance towards such activities. Moreover, the US CFTC along with the DOJ are conducting investigation over bitcoin price manipulation. On top of that we will mention the new proposal of the Canadian watchdog.

Apple has taken a bold stance on the digital assets as of late. The company has issued a new App Store guidelines during its Worldwide Developers Conference last week. According to the new framework cryptocurrency mining apps will be banned on devices with iOS system including Mac. Along with the unprecedented rise of the popularity of digital assets last year many people decided to mine cryptocurrencies to pay their bills. Apple has not commented on its decision yet but it may be connected to the development and spreading of the mining malware.

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The descending trendline managed to halt the sell-off yet the BITCOIN price has still struggled within the vicinity of the $6650 handle for some time. The price rebound from that area recently and may be now eyeing a test of the 33-period moving average (green line). Source: xStation5

The US Commodity and Futures Trading Commission is said to have subpoenaed several cryptocurrency exchanges in order to get insight into their trading data. This is a part of the broader investigation into cryptocurrency market manipulation conducted by the US Department of Justice and CFTC. Among the exchanges asked for data one can find Bitstamp, Coinbase, itBit and Kraken. These four entities serve as a consensus for the CME bitcoin futures price. The exchanges have submitted some data already yet investigators want full access as there is a suspicion that the bitcoin price could have been manipulated through very traditional and old school tactics like placing a large amount of fake orders.

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It seems like the psychological $500 handle is one of the key levels to watch while trading ETHEREUM. The price has approached this level several times in the past two months and each time we saw some action within its vicinity. Source: xStation5

The Canadian Department of Finance has issued a new regulatory proposal concerning the cryptocurrency transactions. The watchdog proposes to treat domestic cryptocurrency exchanges like money service businesses (MSB). Why does it matter? It is quite a crucial development for the Canadian citizens trading coins as MSBs are obliged to report transactions that exceed a certain amount of money. For the Canadian MSBs it is 10,000 CAD. Therefore if cryptocurrency exchanges will be recognized as MSBs it will become impossible to play on the digital asset market with big stakes and remain anonymous. This is a hit for the Canadian traders that has decided to deal with digital currencies due to the anonymity they offer.

 

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