Author Archives: David Drake

US Congressmen Introduce Bipartisan Bills to Eliminate Crypto Price Manipulation

  By David Drake   The need for closer scrutiny of cryptocurrencies, in the face of a strict regulatory environment in the US, has seen Congress develop a contingent solution. In the early days of December, 2018, two members of the US Congress introduced a bipartisan bill proposing elimination of crypto price manipulations. The ability to set and affect pricing […]

How FATF’s Validation on UK Crypto Exchanges Could Boost Industry Growth

  By David Drake   Terrorist financing and money laundering are two major threats facing most financial institutions around the world. Where appropriate actions are not taken, these threats challenge the reliability and steadiness of financial institutions. Having recognized the enormity of these threats, the UK has taken measures to minimize their occurrence with a view of protecting its interests, […]

How Proposed US Crypto Regulation Could Tackle Market Manipulation

  By David Drake   In an ideal situation, markets need to be competitive where there are many buyers and sellers so that no single player can dictate or influence prices. This helps in creating public confidence, resulting to increased trade and efficiency in transactions. But this is not always the case. Due to the urge to make super profits, […]

The Real Reason FATF Report Could Benefit UK’s Cryptocurrency Industry

  By David Drake   Concerns have been raised worldwide on the potential use of cryptocurrencies to finance terrorism and aid money laundering practises. This is because the technology underlying digital currencies is characterised by individual privacy through trading of pseudonymous and/or anonymous coins. Recent statistics by CipherTrace, a blockchain and cryptocurrency firm based in California, show an increase in […]

Crypto vs Institutional Investors: What Issues Must Industry Players and Governments Address?

  By David Drake   Cryptocurrencies have captured the attention of a growing number of companies and institutions. The Dutch audit firm, KPMG, is among the latest firms to focus on cryptocurrencies. As one of the leading four global audit firms, KPMG launched a report that clearly shows digital assets are worth considering, but insist that institutionalization is key to […]

What will it Take for Bitcoin’s Price to Recover in 2019?

  By David Drake   2018 was by all means a difficult year for cryptocurrencies, but the last two months have been even more challenging for the leading digital currency, Bitcoin. In November, Bitcoin traded at less than $4000, the lowest it has reached since October 2017. This price drop sent waves of panic across the market even as the […]

Government vs Industry Players: What Role Does Each Have in Bringing Institutional Capital to the Crypto Market?

  By David Drake   Cryptocurrencies are becoming essential to the global market. According to KPMG, they are indeed vital, but will take time before they reach their full potential. Currently, the crypto market is primarily speculation-driven as retail investors choose startups based on their ability of their crypto product to add value. Because of their nature and unpredictability, KPMG […]

Trading With Cryptocurrencies is Risky, Warns Peruvian Government

  By David Drake   The topsy-turvy cryptocurrency roller coaster ride hit another descent as the government of Peru put up a staunch resistance to its trade and use. This came as the prices of Bitcoin and other leading cryptocurrencies took a huge hit last month, suffering an 80 percent fall in value since the start of the year. The […]

The merits and demerits of Hong Kong’s SFC resolutions and their impact on the crypto industry

  By David Drake   Global popularity of cryptocurrencies is undisputable. However, differences in the way digital assets are handled and the disparities across crypto exchanges have been on the rise, making it necessary for countries to develop regulations. In Hong Kong, the Securities and Futures Commission (SFC) intends to regulate the crypto market to prevent possible digital currency fraud. […]

Peru’s Central Bank Warning: Will it Affect South America’s Cryptomarket?

  By David Drake   Some South American countries have widely accepted the use of cryptocurrencies more than others. The cryptomarket growth in this region has been linked to the need for citizens to find ways to make ends meet. Peru has experienced an increase in the use and trading of virtual currencies and is positive about its prospects. However, […]