Good morning! We have listed the latest news for you. Start the day with a bitcoin breakfast.
Bitcoin price experiences worst quarter in 8 years
The price of bitcoin is experiencing its worst quarter in 8 years. The bitcoin price came down hard after a record price.
The price hit a record high of $64,840 on April 14. After that, however, it went downhill. At the time of writing, we are trading at USD 35,338.05.
Big dips and rises are nothing new in the world of BTC. But the recent price developments are striking.
The last time bitcoin was in such bad shape in a quarter was in 2014. The table below shows the price movements of BTC in percentages in the relevant quarter.
UK regulator releases budget for screening Bitcoin companies
In Great Britain, they want to speed up the registration of bitcoin companies in the country. So far, only five companies have been fully registered. British politician John Glen announces that the budget for the regulators is going up.
The Financial Conduct Authority (FCA) is going to spend more money on vetting bitcoin companies in the country.
The FCA can be compared with the Netherlands Authority for the Financial Markets (AFM).
Since the beginning of 2020, companies in the sector have known that they will eventually have to pass the registration process in order to continue to provide their services. These are companies that do something with the buying and selling of bitcoin in fiat currency.
Binance temporarily stops depositing via iDEAL
Binance (temporarily) stops depositing via iDEAL. Dutch customers can still send their hard-earned euros to the trading platform via SEPA transactions and other payment cards. The company reports this in a blog post.
The underlying reasons are not yet known.
According to Binance, this is a temporary shutdown. Earlier this month, Binance also had to suspend large dollar deposits. Business partner Silvergate Bank stopped working with the trading house.
This is remarkable because the partnership was only a few months old and the bank is known for being ‘crypto-friendly.
the iDEAL is the Dutch standard for internet payments. A lack of support for this service is a big loss if you want to grow (or stay relevant) in the Netherlands