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Bitcoin Is Not Banned In India: Finance Minister

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The union finance minister of India, Anurag Singh Thakur is in the latest cryptocurrency news for a statement in which he said that holding or trading cryptocurrencies like Bitcoin is not banned in the country.

As Thakur told the upper house of the Indian parliament, the issues of permitting the trading of/in cryptocurrencies remains under full examination of a government-appointed interministerial committee.

Thakur also stressed that the Reserve Bank of India and the Ministry of Finance had issued a string of circulars and notices regarding the use of Bitcoin and other similar coins. Nonetheless, only a final report from the committee could shed light on the final status of such nascent asset class.

His statement showing that Bitcoin is not banned in India was all over the altcoin news too and read:

“Presently, there is no separate law for dealing with issues relating to cryptocurrencies. Hence, all concerned Departments and law enforcement agencies, such as RBI, Enforcement Directorate and Income Tax authorities, etc. take action as per the relevant existing laws.”

The response also followed Bloomberg Quint’s coverage which was based on an alleged crypto ban draft which mentioned that the government of India would sentence crypto traders with a ten year jail time. However, the Finance Minister Thakur said that Bitcoin is not banned in the country. Also, a New Delhi-based lawyer named Varun Sethi this week shared a leaked page from the same draft which clarified that the Indian government was planning a crackdown on crypto traders.

“It is difficult to state a specific timeline to come up with clear recommendations. The Inter-Ministerial Committee (IMC) under the Chairmanship of Secretary, Department of Economic Affairs is examining all issues, including the pros and cons of the introduction of an official digital currency in India. No decision on licensing and authorising any entity or company to operate such schemes or deal with Bitcoins or any virtual currency has been made as yet,” he said in the document which was shared on many best cryptocurrency news sites.

The reply about the question of whether Bitcoin s banned or Bitcoin is not banned comes ahead of the next Supreme Court hearing of the so-called Crypto vs. RBI on July 23.

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Syrian Refugee Is Teaching Cryptocurrency Basics In A Camp In Iraq

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One Syrian refugee has just proved that the crypto industry is best understood through proper education. Despite the obstacles and fact that refugees in refugee camps do not have access to information about cryptocurrency, this refugee decided to teach everyone more about cryptocurrency.Situated in the Arbat refugee camp in Iraq, the 16-year old Yousif Mohammed Nor Aldeen teaches other people about cryptocurrency. As he says, “I want to solve a problem in my community. We have a lot of problems, like corruption."Aldeen still has some of his family left behind in Damascus and is particularly fond of the idea that they could all earn and send money among their social networks regardless of borders or the strict regulations in recent years.
“People really need to know all the things about the internet and their phones and laptops,” the Syrian refugee claims. “We are in an advanced world and we should learn."
Aldeen now owns a small amount of Ether (ETH) which he said he earned through a local education program run by the nonprofit Hello Future. However, as he claimed in the ETH news, his possessions are too little to spend so he is eager to earn more.As we could see from the Hello Future founder Charlie Grosso, most of the students in Aldeen's class think of mobile devices and computers in the same way like old-school Nintendos. They know that they could play games on them but are unfamiliar with Internet or access to global networks.
“The idea of searching to verify information is unknown to them,” she said. “They just don’t have that framework.”
The Syrian refugee is obviously looking to change this and teach them everything about cryptocurrency and the latest crypto news. Even though the learning curve is steep for people in this camp, Grosso is confident that all 44 teens who took her computer literacy class quickly grasped the concept of stateless digital money.
“Two years ago, I got my first phone. Now everyone in my family has a smartphone,” Aldeen said. “I like games like Minecraft because I can build things, design things and improve my English.”
The Syrian refugee also stated that cryptocurrency "might be good for saving money because if you put your money inside a bank, the bank might steal it."
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Bitcoin News

Four Common Bearish Patterns Every Bitcoin Trader Should Know

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four common bearish patterns
Candlestick patterns can be bearish and bullish - and they are one of the most popular methods for analyzing price action by cryptocurrency traders. The truth is, there are so many patterns worth learning and understanding. Below, we are listing four common bearish patterns to let you know how they can predict a trend and identify potential patterns.Bearish HaramiThis is the first one in our list and a two candle pattern which signals a likely reversal in price. In this pattern, the first candle is large and green while the second one is a red one with a smaller body. In order to be valid, the second candle must be completely within the range of the body of the first candle. A situation like the bearish Harami has occurred many times in the cryptonews.Dark Cloud CoverSecond on our list of four common bearish patterns is the Dark Cloud Cover - another two candle pattern which signals a likely bearish reversal at the top of a bullish movement. The first candle is large and always green, followed by a similar red candle. However, what's important is that the second candle opens with a gap and closes more than halfway into the body of the first day's candle.The Evening StarIf you have studied the four common bearish patterns, you probably know The Evening Star - a bearish reversal pattern which appears on top of an uptrend with a large bullish candle and is followed by a gap to a small bodied candle and one to a red candle closing below the midpoint of the first day.Shooting StarLast but not the least is the Shooting Star, a bearish reversal pattern which is common in the Bitcoin news updates. Formed by two candles, it appears during an uptrend and signals that an upcoming reversal to a bearish bias is close. The first candle is green and is followed by a green or red candle with a long upper wick and a small body. It is the long wick which is the indication that bulls control much of the session, before losing their ground to bears.We hope that these four common bearish patterns will let you identify future bear markets!
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Best Investable Asset For 2019 Is Officially Bitcoin: Report

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Bitcoin is officially the best investable asset for this year despite having its share of unnerving periods and managing to become of the best assets as we are reading more about the report in the upcoming BTC news.Acquiring more than $1 worth of Bitcoin in 2020 would mean more than $90,000 today even after the price corrections. To compare, after the extremely successful decade for the stocks, $1 invested in big indices of the US equities would have reached $3.46. Of course, not everyone can sell during peak time so the stock indexes are historically less volatile and more liquid. Bitcoin is considered a wild card for personal finance and helps to build wealth for smaller-scale investors facing both risky markets and low real income.Bitcoin investment is not limited to US-based persons and it caused a boom of investments in Korea and the stagnant stock returns caused buyers to adopt crypto assets which moved beyond BTC and into the zone of the riskier assets. It’s possible that some of the other asset classes reached a huge growth as well in nominal terms over the past ten years and they have now arrived with significant quantitative easing thus boosting their valuations.  The next decade could bring slower growth but most of the indicators point to a recession getting avoided in 2020. Bitcoin has not faced a recession so far and has existed on the market in an environment of investment exuberance.Since then, despite the correction, the bitcoin ecosystem increased and the presence of the asset was established. With the mainstream futures markets and exchange-traded products across Europe, Bitcoin is starting to look like a serious asset class that the mainstream markets will have to compete in which is why it is proclaimed as the best investable asset for this year. Despite the crashes, bitcoin has posted higher lows each year and gained a lot of liquidity and support from the futures markets that helped it go around the periods of relative stability.BTC also build businesses around the activity of mining and it used the spare hydroelectric power to essentially build a new type of value. This month has been considered the final stretch of the decade for the benchmark cryptocurrency at least since the beginning of the trading. Bitcoin now trades at about $7065 on the slower volumes before the holidays start.
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Bitcoin News

BTC App Bottle Pay Startup Shuts Down Due To New EU Laws

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BTC App Bottle Pay
BTC app bottle Pay startup has shut down on Friday because of the new AMLD5 European Union regulation that will come into effect on January 10, 2020, as per the latest bitcoin news.The BTC App Bottle Pay once allowed the users to sent small amounts of Bitcoin by only using social media texts and handles from Twitter to Telegram. There are more than 974 members in the project’s Telegram group. The startup managed to raise up to $2 million in September and back in December the entire team declined to name any of the investors but said that the startup already had 10,000 accounts. Bottle Pay released a public beta and a real bitcoin in late November but have just realized how the new European regulations will dramatically alter the roadmap of the company:
 “The amount and type of extra personal information we would be required to collect from our users would alter the current user experience so radically, and so negatively, that we are not willing to force this onto our community.’’
Bottle Pay will not be the only startup that was impacted by the regulations because they demand a stricter user verification process and the exchange BitPanda announced on Friday to be launching a new user registration process because of that. The chief economist at Canada’s Cypherpunk Holdings Inc, Jon Matonis, explained that these policies will apply to all custodial crypto wallets. The privacy-focused wallet Samourai Wallet which is not registered in any specific jurisdiction tweeted that the team believes the policy will apply to noncustodial wallets as well.Teana Baker-Taylor is a London-based expert and director of the crypto industry group Global Digital Finance, said that this policy could force the crypto wallet providers in the EU to collect the know-your-customer information from the users. The exchanges and wallets according to her, will become obliged entities:
"AMLD5 prohibits facilitated (non peer-to-peer) anonymous transactions. Custodian wallet providers and exchanges will be obligated to implement customer due diligence (including KYC) and transaction monitoring. They will also be required to maintain comprehensive records and report suspicious transactions."
Steven Maijoor from the European Securities and Market Authority said that it is important to have risk warnings and risk information for the consumers that go into these products including anti-money laundering procedures and arrangements.
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