Bank of America has banned its customers from using credit cards to buy cryptocurrencies. Image from ventdusud.
Cryptocurrency Market Begins to Rebound After Losing $100 Billion in Overall Value
According to CNBC, the cryptocurrency market has begun to stabilize following massive sell-offs over the past two days. Major coins and tokens- such as Bitcoin, Ripple and, Ethereum — are all higher than they were just 24 hours ago. The cryptocurrency market decreased by USD 100 billion yesterday alone, as the market price of Bitcoin went below USD 8,000 for the first time since November 2017.
Bank of America Announces Ban on Cryptocurrency Purchases with Credit Cards
Bank of America has banned its customers from using credit cards to buy cryptocurrencies. According to Bloomberg, the policy applies to all personal and business credit cards, but not debit cards. Large banks have become increasingly concerned over their ability to screen for money laundering once fiat currency is converted to cryptocurrency.
Modern Consensus Reports Circle is in Negotiations to Acquire Poloniex
According to Modern Consensus, Circle is in negotiations to acquire Poloniex. Modern Consensus claims that “a highly-placed source” has confirmed that the acquisition will be finalized once Circle fulfills KYC requirements and other demands from U.S. regulators. Neither organization has officially commented on the story.
Japan’s Financial Services Agency Inspecting All Cryptocurrency Exchanges for Proper Cybersecurity
Japan’s Financial Services Agency has required all cryptocurrency exchanges in the country to submit internal inspections based on a checklist of 43 items. According to the Japan Times, most of these items are related to cybersecurity mechanisms on consumer data. 16 exchanges registered with the FSA and 15 other exchanges currently undergoing registration screening processes are subject to the inspections.
Source: ICO Alert