Crypto Daily News – February 10, 2018

Your One Stop Source for Daily Cryptocurrency News and Commentary

Today, cryptocurrencies generally fell off. This followed the big recovery seen across all cryptocurrencies the last few days. Perhaps they were affected by the news out of Pakistan that the government will declare cryptocurrencies illegal and the BitGrail exchange becoming insolvent after getting $170 million worth of Nano stolen. I don’t think those two alone will be enough to make cryptocurrencies go through another extended down-swing, but let’s hope there isn’t further bad news on the horizon.

There were positive developments as well though. Ebay, for example, is “seriously considering” cryptocurrencies as a payment method. The state of Arizona is working on a bill that will let its citizens pay their taxes in cryptocurrency.

Pakistan

Parkistan's Federal Investigation Agency is getting tough on people trading and engaging in cryptocurrencies. The FIA is going to recommend to the government to make Bitcoin illegal and implement punishment for activities related to it.

BitGrail

$170 million in Nano has been stolen from the Italian cryptocurrency exchange BitGrail and its owner Francesco Firano said that they're not going to be able to pay back its customers as it only has $40 million worth of Nano in possession.

Ebay

The e-commerce giant, Ebay is "seriously considering" cryptocurrency as a payment option, but they're not quite ready to make such a big move yet. Will they follow Overstock's lead in accepting cryptocurrency? Overstock has benefited greatly by linking it coins as its stock has surged 320% over the last year.

Arizona
Arizona's Senate has passed a bill by a vote of 16-13 to allow its residents to pay their taxes in cryptocurrency. The next step is for the bill to be voted on by the Arizona House of Representatives. Stay tuned.

*Disclaimer: I’m a self-proclaimed crypto-noob and trying to learn every day. While I hope my information and commentary are helpful, please always rely on your own research before making any investment decisions. *