Dubai moves to blockchain-based business registry, Lawsuit claims Bitfinex cost market over $1 trillion and Bitcoin recovers to 8.200 USD
Here is your daily overview of important, interesting and market moving crypto news.
Dubai announces move to blockchain-based business registry
The Department of Economic Development in Dubai has announced its move to a blockchain-based unified business registry platform (UBRP).
The platform aims to improve the ease of doing business in Dubai and enable license issuers to manage trade licenses and corporate registries.
Dubai’s government has set a goal to make sure that 50% of government transactions will be blockchain-based by 2021.
Lawsuit claims Bitfinex/Tether cost market over $1 trillion
A new lawsuit claims crypto exchange Bitfinex and its sister company Tether manipulated the crypto market, harming traders and benefiting themselves.
The crimes committed by Bitfinex, Tether and their executives include Bank Fraud, Money Laundering; Monetary Transactions Derived From Specified Unlawful Activities, Operating an Unlicensed Money Transmitting Business, and Wire Fraud.
The prosecutors claim that the total damages add up to more than $1 trillion.
Bitcoin recovers to 8.200 USD
Bitcoin’s sellof from last weekend pushed its price far below the 8.000 USD mark during the weekend.
However, Monday seems to be bearing gifts. Bitcoin has been slowly crawling upward to its current price point of around 8.200 USD.
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