Crypto Corner: #Bitcoin Cash (BCH) Surges, Delhi High Court Challenges Indian Central Bank and Iran Bans Crypto

Point Roberts, WA and Delta, BC - April 23, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner.

Crypto Corner - April 23, 2018

By Samuel Mowers at Investorideas.com

#Bitcoin Cash (BCH) Surges, Delhi High Court Challenges Indian Central Bank and Iran Bans Crypto

Crypto's total market cap is $400 billion USD at press time, which is $80 billion USD, or 25 percent, higher than it was one week ago at $321 billion USD. Bitcoin (BTC), which accounts for 38 market dominance, is trading at $8900 USD and has grown $1000 USD, or 12 percent, in that same time. The market has experienced its most significant growth from altcoins such as Bitcoin Cash (BCH), which started the week trading at $750 USD and at press time is $1400 USD, a growth of 86 percent.

In India, the High Court of Delhi is hearing a case against the country's central bank, the Reserve Bank of India (RBI), against its decision to ban banks from engaging with cryptocurrencies. This follows a petition from Kali Digital Ecosystems, which plans to open a cryptocurrency exchange called Coin Recoil in August 2018.

A report from the Asia Times quotes a source from Kali Digital Ecosystem's legal team regarding their case against the RBI:

"An associate partner from the law firm representing Ahmedabad-based Kali Digital told the media: "The circular appears to be arbitrary and unconstitutional since it does not give strong facts as to why the RBI is against the business of cryptocurrencies. Logical and well-thought argument backed by solid facts are the primary requirements under the constitution to put a stop to any business in India."

The Central Bank of Iran (CBI) has made a similar move to the RBI with its ban of cryptocurrencies on Sunday. A piece in Islamic Republic News Agency explained the CBI's decision was motivated out of desire to combat money laundering and terrorism:

"According to CBI public relations department, CBI made the decision by its supreme committee in charge of fight against money laundering last Iranian calendar year.

Virtual currencies have the option to be used for money laundering, supporting terrorism, and exchange of sums between wrongdoers, pointed out the CBI circulation."

Get the Crypto Corner News by email Get Crypto Corner News

Crypto Corner Sponsors:

Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/

Preorder Flip

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure:  this newsletter is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip and   GoverMedia Plus Canada Corp. (CSE: MPLS). More info: http://www.investorideas.com/About/News/Clientspecifics.asp

Cryptocurrency Disclaimer

Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Contact Investorideas.com  

800-665-0411