Hong Kong Announces New Regulatory Framework for Crypto Exchanges – November 8

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$9,006

Bitcoin has dropped another 2% today, briefly dropping through the $9,000 mark yet again.

Top-20 altcoins have done slightly better, with many relatively unchanged in value. XRP is the biggest loser down 4%, while EOS is the best performer, rising 1%.

Top Stories for November 8, 2019 🔥

👉 Hong Kong Announces New Regulatory Framework for Crypto Exchanges

The Securities and Futures Commission (SFC) of Hong Kong has released new regulatory framework for cryptocurrency exchanges.

The framework has standards comparable with those currently existing for securities brokers, with modifications to specifically fit digital assets.

investor protection, custody, KYC and AML, auditing, and forks have all been covered in the documentation.

👉 Tether Issues Response to Paper on Bitcoin Manipulation

Tether has publicly responded to a recently-updated paper, which blames a single actor on Bitfinex for Bitcoin’s price bubble in 2017.

In the statement, Tether refers to the paper as “embarrassing” and “flawed”, citing the author’s own admission of incomplete data.

Tether also denies all claims that neither themselves nor any Tether affiliates have used Tether issuances to manipulate the price of Bitcoin.

👉 Federal Reserve to Recruit Payments Manager to Research Crypto

The Federal Reserve of the United States is on the search for a new payments manager, who will be in charge of research into the cryptocurrency sector.

Central bank governors have been alluding to understanding and issuing a blockchain-based currency for several months, and this appears to be the first hire made for the space.