1. BITCOIN PRICE CONSOLIDATES AS HASH RATE HITS ATH
Bitcoin price spent the weekend consolidating as the action has all gone sideways for the time being. There was another dip down below $11,000 on Saturday but BTC recovered back as it heads towards resistance once again.
[Source: Bitcoinist] ✩✩✩✩
2. New ECB Boss Christine Lagarde Made A Serious Bitcoin Warning
Bitcoin and other crypto-assets have long divided traditional economists and bankers with some warning over their instability and others praising their ingenuity.
Earlier this year, Christine Lagarde, who has just been nominated to replace Mario Draghi as president of the European Central Bank (ECB), warned that cryptocurrencies are “shaking the system” — something that could signal a change in the ECB’s approach to bitcoin and crypto and potentially spur adoption.
[Source: Forbes] ✩✩✩✩
3. Monero Devs Disclose Nine XMR Bugs That Could Have Allowed Stealing XMR from Exchanges
Developers of the anonymous Monero coin have made public almost a dozen security flaws, one of them was able to allow stealing XMR from crypto exchanges.
The bugs in the Monero code were not discovered until March this year, reports Hard Fork.
One of the bugs that the dev team has recently made public enabled dirty players to steal XMR from crypto currency exchanges by making ‘specifically-crafted’ blocks to get Monero wallets to take fake deposits in exchange for any XMR amount.
[Source: U.Today] ✩✩✩✩
4. ethereum Researcher Lays Down Timeline for Ethereum Issuance Increase
According to Ethereum 2.0 researcher Justin Drake, the issuance of Ethereum (ETH) is likely to increase by about ten times within the next couple of years, by 2021. Drake is currently a researcher working with the Ethereum Foundation. According to reports, he has laid down a clear timeline for the issuance, saying:
“Here’s a possible timeline (dates likely totally wrong!) highlighting the key milestones: January 2020: beacon chain launch. June 2020: eth2 light clients production-ready. November 2020: eth1 fork #1 to have its fork choice rule honour eth2 finality (conservatively, no issuance reduced). March 2021: eth1 fork #2 to reduce issuance by 10x.”
[Source: BTCWires] ✩✩✩✩
5. Major Latin American Facebook Rival ‘Taringa!’ Makes a Splash in Crypto
Taringa!, one of Facebook’s biggest rivals in Latin America, has unveiled plans to reinvent itself and launch a cryptocurrency rewards program.
[Source: CCN] ✩✩✩✩
6. Dogecoin (DOGE) skyrockets 35% on Binance listing news
Dogecoin, a crypto project known to have the backing of a strong vibrant online community will soon start trading on Binance, the largest cryptocurrency exchange. The listing comes just a day after Ethereum founder Vitalik Buterin expressed his liking for Dogecoin.
Buterin was responding to a Dogecoin supported who directly ask him his take on Dogecoin. Buterin said, “I’m very pro-Dogecoin.” Dogecoin supporters on twitter later told Buterin that he deserves a DOGE t-shirt and are not sure how to get it to him.
[Source: FXStreet] ✩✩✩✩
7. Iranian Official Says US Congress is Working to Block Iran’s Crypto Mining
Saeed Zarandi, Iranian Assistant Minister of Industry, Trade, and Supply, said that US Congress is working to stop Iran’s access to cryptocurrencies and Bitcoin (BTC) mining, as reported by local news service Al-Fars on July 6.
According to Zarandi, Congress considers cryptocurrency a tool for evading sanctions and money laundering, and is therefore trying to legislate against Iran’s access to it, complicating Iran’s legislation.
[Source: Cointelegraph] ✩✩✩
8. Singapore Releases New Draft on Tax Guidelines for Crypto: Bitcoin, Ethereum, Litecoin, Dash, Monero, Ripple and Zcash
The Inland Revenue Authority of Singapore (IRAS) has published a draft guide that explains the goods and services tax (GST) treatment for transactions involving cryptocurrencies that are used as a medium of exchange. Referred to as digital payment tokens, the draft references Bitcoin, Ethereum, Litecoin, Dash, Monero, Ripple (XRP) and Zcash as examples. In a major step forward for cryptocurrency supporters and for people who want to spend their crypto like cash, under the new guidance, cryptocurrencies will no longer be subject to GST.
[Source: DailyHodl] ✩✩✩✩
9. MetaMask’s “bridge to the decentralized web” is finally coming to mobile
Nine long months of anticipation will soon come to an end for users of MetaMask, the primary gateway to the Ethereum blockchain.
MetaMask, backed by Ethereum incubator ConsenSys (which also funds Decrypt), announced on Tuesday that its mobile browser and crypto wallet combo is finally set for a public beta release on July 22. MetaMask Mobile will be available on both Android and iOS and promises to be more than “just another wallet.”
[Source: DecryptMedia] ✩✩✩✩
10. Four Arrested in India Over $14 Million ‘KBC Coin’ Scam
A report from the Times of India indicates that four men were arrested in the west Indian city of Surat after being tied to a scam that defrauded victims of $14.2 million. The report indicates that the actual amount stolen was “likely” much higher than $14 million and represented the sixth cryptocurrency-related fraud registered in Surat over the last two years.
[Source: CryptoGlobe] ✩✩✩
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