The US DEA actually encourages people to keep using cryptocurrencies, and the WSJ releases a report exposing a variety of “pump and dump” schemes.
Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link.
Top Stories This Week
US Security And Exchange Commission Postpones Bitcoin ETF Until Fall
The U.S. Securities and Exchange Commission has delayed its decision on the listing and trading of a Bitcoin exchange traded fund (ETF) until September 30. The SEC is in the process of considering a rule change that would allow the fund, which is powered by investment firm VanEck and financial services company SolidX, to be listed on the CBOE BZX Equities Exchange.
WSJ Reports Price Manipulation In Crypto Conducted By Organized “Trading Groups”
According to this week’s article by the Wall Street Journal, cryptocurrency price manipulation is mainly conducted by organized “trading groups” that create “pump and dump” schemes on services like Telegram. According to the article, these groups can either create millions of dollars for themselves or be stung by the losses once all of the group dump a certain asset at the same time.
US DEA Agent: Ratio Of Criminal Activity To Legitimate BTC Transactions Has Flipped
U.S. Drug Enforcement Enforcement Administration agent Lilita Infante, who is a member of the Cyber Investigative Task Force, said this week that the number of illegitimate Bitcoin transactions has dropped to just ten percent of transactions. Infante added that she wanted people to keep using the blockchain, as it made them more easily identifiable.
Starbucks Denies Bitcoin Payment Method Hype After Misleading Media Reports
U.S. coffee chain Starbucks will not be accepting Bitcoin as payment for Frappuccinos or other drinks after a week of misleading article titles implied the opposite. After last week’s