Bitcoin fell for a second day, extending a downdraft triggered by Wednesday’s revelation that a member of the cryptocurrency community from the blockchain’s earliest days in 2009 had moved a long-dormant cache of coins.  As of 20:30 UTC (4:30 p.m. ET), bitcoin (BTC) was trading at $9,044, a loss of 5.6% over 24 hours.  Bitcoin remains well below its 10-day and 50-day technical indicator moving averages — a signal of bearish sentiment.  At 14:00 UTC (10 a.m. ET) the world’s oldest cryptocurrency began experiencing high selling volume on exchanges including Coinbase, dropping bitcoin below $9,000 for the first time since May 13. Bitcoin trading on Coinbase since May 19Source: TradingViewWhile the market appears to have turned bearish, Rupert Douglas, head of institutional sales at asset mana...

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Iranian President Hassan Rouhani has ordered the government to draw up a renewed national approach for the emerging crypto industry. Chairing Iran’s economic coordination headquarters – a seminar for the national economic strategy – earlier this week, Rouhani told officials from the Central Bank of Iran (CBI), energy department and information and communication technology ministries that they needed to devise a new national strategy for crypto mining, including regulation and mining revenue, Iranian news site ArzDigital reported Wednesday. The news comes barely two days after the Iranian parliament published a bill proposing to apply the country’s strict foreign exchange and currency smuggling regulation to cryptocurrencies. The new parliamentary law would also require crypto exchanges op...

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Could an overbearance of regulation divide the crypto space and create a “gray” market composed of unregulated exchanges, where digital assets trade at lower prices? At a panel at Consensus: Distributed exploring the impact of the Financial Action Task Force (FATF) “Travel Rule,” Bakkt President Adam White said yes. “We are going to see a bifurcation in the crypto space,” said White. “We are going to see white crypto; we are going to see gray crypto. And those different forms of crypto will most likely trade at different prices.” The FATF, a kind of global anti-money laundering (AML) watchdog, makes recommendations on how best to fight financial crime, which countries and their regulators then implement. There has been some progress with the licensing and regulation of crypto in places lik...

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