Bitcoin dips to $9,6K, North Korea Plans Cryptocurrency to Avoid Sanctions and Arab Bank’s Swiss Arm is Launching Cryptocurrency Services
Here is your daily overview of important, interesting and market moving cryptonews.
Bitcoin dips to $9,6K after price drops $500 in minutes
Bitcoin (BTC) slipped to an 18-day low today, as a key indicator threatens to turn bearish for the first time in a year.
The top cryptocurrency fell by $500 in 10 minutes just after 03:00 UTC to hit a low of $9,600 on Bitstamp. That level was last seen on Sept. 1.
Prices have bounced back a little in the last few hours, but the bearish mood is still intact with the cryptocurrency currently changing hands around $9,880.
North Korea Plans Bitcoin-Like Cryptocurrency to Sidestep Sanctions
North Korea is working on building its own cryptocurrency to get around the tough international sanctions.
It follows a similar project from Venezuela, which launched its oil-backed petro token last year — also to avoid U.S.-led sanctions. Alejandro Cao de Benos — the official managing North Korea’s cryptocurrency conferences — said that the token is expected to be “more like Bitcoin or other cryptocurrencies.”
Development is still in its early stages: “Now we are in the phase of studying the goods that will give value to it,” Cao de Benos said.
Arab Bank’s Swiss Arm is Launching Cryptocurrency Services
The Swiss branch of one of the top financial institutions in the Middle East is launching a suite of cryptocurrency-based services.
Arab Bank (Switzerland) announced on Thursday that it will offer clients a range of services including custody and brokerage of Bitcoin (BTC) and Ether (ETH).
Serge Robin, CEO of Arab Bank (Switzerland):
“We firmly believe that blockchain will disrupt the financial industry as we know it and we intend to be amongst the first banks to offer digital asset services to our clients in a secure and regulated environment.”
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