Newsflash: Bitcoin Price Pops to $3,705, Crypto Markets Turn Green

The bitcoin price might be down, but it isn’t ready to be counted out — at least not yet, anyway.

The flagship cryptocurrency, battered by three major sell-offs within the past week that dropped it as low as $3,481, staged a moderate recovery on Monday, popping above $3,705 on Coinbase and other crypto exchanges. Source: CCN.com

Malaysia to Regulate ICOs as Securities Offerings from Tuesday

Malaysia’s securities watchdog will have powers to regulate digital asset offerings and crypto exchanges as of Tuesday. According to a notice from the country’s Securities Commission (SC), the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 will come into force on Jan. 15 following a statement from the finance minister this morning. The prescription order means that token offerings and exchanges would require approval from the SC before starting operations and would have to comply with securities laws in the country. Source: Coindesk

Bulgarian Revenue Agency Announces Inspection of Cryptocurrency-Selling Companies

The Bulgarian National Revenue Agency (NRA) has announced the launch of inspections of cryptocurrency-selling companies, English-language Sofia-based news outlet novinite reports on Jan. 14.

The objective of the investigation is to assure compliance with tax and social security regulation, as the agency is reportedly worried about the use of crypto-assets for revenue concealment and tax evasion.

The Bulgarian RSA reportedly conducted a survey of the companies that own online platforms for the sale and purchase of cryptocurrencies — like cryptocurrency exchanges —  and already assigned control actions (which presumably means checks) to nine companies. Source: Cointelegraph

 

Bittrex Follows Major Crypto Exchanges in Launching Over-The-Counter Trading Platform

United States-based cryptocurrency exchange Bittrex will launch an over-the-counter (OTC) trading desk on Monday, according to a private statement released on Jan. 14.

The latest major exchange to enter the OTC market, Bittrex will offer investors the same raft of around 200 crypto assets currently available on its standard platform.

OTC trading has become an increasingly popular option for institutional investors looking to perform large-volume trades. Fellow U.S. exchange Bitfinex opened its own platform in 2016, while the country’s largest player Coinbase is currently in the process of rolling out its product. Source: Cointelegraph