#CryptoCorner: BTC Bull Run Outpaces Altcoins, Mastercard Lists Crypto/Blockchain Positions, Thai AML Laws to Encompass Crypto and Iran Won't Recognize Crypto Trading
Point Roberts, WA and Delta, BC - August 5, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: BTC Bull Run Outpaces Altcoins, Mastercard (NYSE: $MA) Lists Crypto/Blockchain Positions, Thai AML Laws to Encompass Crypto and Iran Won't Recognize Crypto Trading
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Stocks discussed: (NYSE:MA) (NasdaqGS:FB)
As we begin another week, we find the crypto market in yet another bull run. Bitcoin (BTC) first rose back above the $10,000 support level on Wednesday last week, after having briefly dipped below it on the previous Saturday (July 27). Yesterday saw considerable growth leading to Bitcoin's current trading price of $11,750 USD, according to data from CoinMarketCap. Bitcoin is outpacing altcoin growth, as has been typical of this year, and consequently accounts for a share of 67.7 percent of the total crypto market.
Mastercard (NYSE:MA) has listed several jobs for blockchain and crypto professionals on the hiring page of its website. Among these are: senior blockchain engineer, blockchain software engineering lead, blockchain solutions architect, VP of blockchain/crypto product management, and director of crypto wallet product management. Though Mastercard is already a member of Facebook's (NasdaqGS:FB) Libra Association, these postings could be hinting at a possible foray into the crypto wallet space by the former.
The Bangkok Post reports that Thailand's acting secretary-general of the Anti-Money Laundering Office (AMLO), Preecha Charoensahayanon, says that cryptocurrency will be used for money laundering and that the government will amend AML laws to address this. He said that the country's Anti-Money Laundering Act will be updated to require crypto exchanges to report activities to AMLO. An excerpt from the article outlines the secretary-general's intentions:
In his view, Amlo's work will be focused on two areas in the near future -- one involving its traditional duty to prevent and crack secret plots to hide illegal assets, and the other in connection with the unfamiliar role of probing new hideouts in the cyber world.
The government of Iran has issued new regulations which make the trading of cryptocurrencies illegal in the country, according to local outlet PressTV. On Sunday, the cabinet ruled that the government and central bank of Iran would not recognize cryptocurrencies as legal tender. The same bill that makes crypto trading illegal, however, recognizes the provisional legality of crypto mining in the country. An excerpt explains:
...the bill said mining digital currencies would be allowed inside Iran under certain conditions, including if miners obtain the approval of Iran's industry ministry, do not mine the currencies inside a 30-kilometer boundary of all provincial centers except for the capital Tehran and the central city of Esfahan where tougher restrictions apply.
It said the miners should also observe rules set by Iran's standardization and communications authorities for mining machines, adding that certain fees will be applied for the energy used for mining the currencies.
Sam Mowers, Investorideas
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