Chinese court declares Bitcoin virtual property – July 19

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Current Bitcoin Price$10,352

The cryptocurrency market is down 2% today. Bitcoin is down 2%, while Ethereum and XRP are down closer to 3%. Litecoin, Bitcoin Cash, EOS, and Chainlink are all down 6%, while TRON is up 5%; most top-20 coins are, however, down 1-4%.

Top Stories for 19th July 2019 🔥

👉 Chinese court declares Bitcoin virtual property

China has had an odd relationship with Bitcoin. Despite some of the world’s biggest cryptocurrency mining companies being based out of China, the country banned exchanges in 2017, and now wants to ban cryptocurrency mining.

Interestingly, a Chinese court has declared Bitcoin a form of virtual property. Presumably, this means it is now subject to a variety of asset laws, which means Chinese citizens’ crypto assets are protected by the law.

👉 BitMEX accused of trading against own clients

Nouriel Roubini is an esteemed economist, professor, and known cryptocurrency skeptic. He has a bone to pick with this industry — especially the countless businesses that profit on it.

Roubini has accused BitMEX of knowingly trading against its own margin trading clients. He believes that the exchange uses customer’s data to advantageously trade against them, and even prevents users’ orders from going through to maximize profits.

👉 IDEX introduces KYC requirements

IDEX is one of the best-known cryptocurrency DEXs, or decentralized exchanges. The platform uses a partial-DEX model, which combines the benefits of both a centralized overview and decentralized trading.

The exchange has just introduced new KYC requirements in order to stay complicit with global regulations. IDEX will also limit access to some assets for US investors.

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