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TD Ameritrade, Ally Invest to Offer Exchange Traded Bitcoin Futures

December 5, 2017 |

TD Ameritrade, Ally Invest to Offer Exchange Traded Bitcoin Futures

With two of the most respected exchanges in the US about to launch bitcoin futures, CME and Cboe, American brokers now have little excuse not to offer the instruments. A few of the major players have already revealed their positions regarding retail trading clients, while most still remain on the sidelines. 

Also read: Cboe Beats CME to the Market, Will Launch Bitcoin Futures December 10

TD Ameritrade, Ally Invest to Offer Exchange Traded Bitcoin FuturesBoth TD Ameritrade (NASDAQ: AMTD) and Ally Invest (NYSE: ALLY) have publicly stated that they plan to offer access to bitcoin futures trading as soon as they become available to them. Together these two brokers serve over seven million retail US traders, Ameritrade with 6,950,000 funded customer accounts and Ally with 250,000.

“What’s exciting to us about it is it provides a two-sided market,” JJ Kinahan, chief market strategist TD Ameritrade said. “With natural buyers and sellers, that helps to put a more reasonable volatility on the product.”

“Ally Invest customers have specifically expressed interest in the futures product the Chicago Mercantile Exchange is planning to launch that is based on bitcoin,” said Rich Hagen, president of Ally Invest. “If the CME does launch this product, Ally Invest plans to offer it to current and new futures customers immediately.”

Maybe in the Futures

TD Ameritrade, Ally Invest to Offer Exchange Traded Bitcoin FuturesPossibly the most surprising announcement came from Fidelity Investments whose spokesman told Bloomberg they don’t have any plans yet to offer access to the instruments for their clients. Fidelity was the first major US broker to allow clients to track their bitcoin, ether, and litecoin holdings on its web portal. Considering that they now have regulatory cover to offer an actual form of trading, with CME and Cboe handling the compliance issues, it is likely just a matter of time until they jump on board.

The other major US brokers have either not had enough time to process the rapid developments, or are just waiting to see what will happen with Ameritrade and Ally before making any move.

What does brokers offering bitcoin futures trading mean for investors? Tell us what you think in the comments section below.


Images courtesy of Shutterstock.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

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South Korea Launches Cryptocurrency Task Force to Spearhead Regulations

December 5, 2017 |

South Korea Launches Cryptocurrency Countermeasure Task Force to Spearhead Regulations

South Korea’s government has established a new task force to regulate bitcoin and other cryptocurrency trading. Taking over the effort from financial regulators, the Ministry of Justice has now been put in charge of the task force to establish and implement cryptocurrency regulations.

Also read: Japan Increases Lead – Approves Another Four New Cryptocurrency Exchanges

Cryptocurrency Countermeasure Task Force

South Korea Launches Cryptocurrency Countermeasure Task Force to Spearhead RegulationsOn Monday the South Korean government established a “virtual currency countermeasure task force” to “promptly review measures to strictly regulate virtual currency transactions,” reported The Asia Times.

This is the second task force set up by the government. The first was smaller and only involved financial regulators. It also made little progress to create a regulatory framework for cryptocurrencies and has been inactive since September, Maekyung Media described.

In an effort to speed up regulation, “the ministries agreed to jointly set up a government-wide measure to strictly regulate virtual currency transactions under the supervision of the Ministry of Justice,” the publication added. The new task force’s first meeting was also held on Monday to reevaluate domestic and foreign cryptocurrency market trends and their future countermeasures.

“Related agencies have expressed serious concern about the recent rise in virtual currency speculative trading and the continued increase in virtual currency-based offenses,” the news outlet wrote and quoted the government announcing:

We agreed that the Ministry of Justice will be the main ministry and will set up and implement the regulatory measures through consultation between the related ministries.

Legal Status of Cryptocurrency in Korea

While there is currently no law to protect cryptocurrency investors in South Korea, the government is actively discussing the legal framework for cryptocurrencies. The ministries were quoted at the meeting by The Korea Times:

Virtual currency cannot be viewed as a financial product or money. While virtual currency trading is claimed to be safe and thus the future money, blockchain technology only guarantees secure transactions and does not guarantee value.

South Korea Launches Cryptocurrency Countermeasure Task Force to Spearhead RegulationsIn order to protect investors, the government is pursuing regulations to ensure that cryptocurrency exchanges meet certain requirements. For example, they must deposit client investments in banks or other reputable institutions and must inform customers of investment risks in detail. In addition, the punishment level for multi-level crimes involving digital currency transactions will be greatly increased, the publication detailed.

“We will make regulations for the protection of investors rather than making virtual currency exchange regulations,” the finance minister said at the meeting.

Do you think South Korea will introduce cryptocurrency regulations soon? Let us know in the comments section below.


Images courtesy of Shutterstock and the South Korean Ministry of Justice.


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Bitfinex Slaps a Lawsuit on Its Nemesis as the Tether Squabble Gets Ugly

December 5, 2017 |

Bitfinex Slaps a Lawsuit on Its Nemesis as the Tether Squabble Gets Ugly

Bitfinex has come out fighting after weeks of being on the backfoot. The bitcoin exchange, which has parried stinging accusations from the anonymous critic Bitfinex’ed, has had enough and called in the high-priced lawyers. Steptoe & Johnson is the company tasked with tracking down anyone perceived to have libeled the Hong Kong-based exchange – and it’s got one particular Twitter account firmly in its sights.

Also read: Bitfinex Faces Further Scrutiny Over Tether Liquidity Concerns

Bitfinex v Bitfinex’ed

Bitfinex Slaps a Lawsuit on Its Nemesis as the Tether Squabble Gets Ugly
The Twitter avi for Bitfinex’ed.

Amidst mounting questions as to the solvency of Bitfinex and accusations of wash trading using tethers – tokens pegged against the U.S. dollar – the twittersphere has had a field day. Much of the speculation has been spearheaded by Bitfinex’ed, an account which has been a constant thorn in the side of the world’s largest bitcoin exchange.

It’s now been suggested by Bitfinex – and confirmed by its nemesis – that Bitfinex’ed is facing a lawsuit. Stuart Hoegner, legal counsel for Bitfinex, released a statement saying:

To date, every claim made by these bad actors has been patently false and made simply to agitate the cryptocurrency ecosystem. As a result, Bitfinex has decided to assert all of its legal rights and remedies against these agitators and their associates.

This was followed up with a PR blitz in which one of the exchange’s partners posted an op-ed conceding that Bitfinex has been poor at communication. The piece makes comparisons between the cannabis and cryptocurrency industries in terms of the difficulty of obtaining banking arrangements, before taking aim at Bitfinex’ed, stating, perhaps disingenuously:

An anonymous online Twitter user who throws allegations around without ever revealing his or her own identity. As a communications professional myself, I know that whenever someone tosses allegations and attacks behind the veil of anonymity, one has to examine their motives.

Bitfinex Slaps a Lawsuit on Its Nemesis as the Tether Squabble Gets UglyThere are very valid reasons why an individual such as Bitfinex’ed may wish to preserve their anonymity. Nevertheless, regardless of the merits of both parties’ case, the fact is that the gloves are now off. In its statement announcing the hiring of Steptoe & Johnson, Bitfinex said: “In recent months, certain parties and their associates have made false and unsubstantiated claims against Bitfinex, engaging in potential market manipulation activity that is dishonest and unlawful.”

Readers who have been following the long-running spat will be aware that these are the very same accusations that Bitfinex’ed has leveled against Bitfinex.

So What Happens Now?

Bitfinex’ed has launched a donation address to help fund its defense of the lawsuit it’s facing. It currently contains around 1.4 BTC, 1 BTC of which came from a single donor.

Bitfinex Slaps a Lawsuit on Its Nemesis as the Tether Squabble Gets Ugly

In all likelihood, the case will never come to pass for a variety of reasons. Libel or slander cases are notoriously difficult to prove, especially when the alleged defamatory comments were made on a platform such as Twitter which is largely protected by free speech amendments. Even if Bitfinex were to successfully take its nemesis to court, it would need to lay bare its own operations to prove the accusations to be false.

Bitfinex Slaps a Lawsuit on Its Nemesis as the Tether Squabble Gets Ugly
British comedy duo Steptoe & Son. Not to be confused with Bitfinex lawyers Steptoe & Johnson.

The company also has nack for filing and then retracting lawsuits, having done similar against Wells Fargo earlier this year. Some commenters see the hiring of Steptoe & Johnson as evidence of Bitfinex trying to deter mainstream media outlets – which have greater legal obligations than anonymous social media commenters – from investigating its dealings.

There is a case for saying that the lawsuit – regardless of whether it transpires – suits both parties. Bitfinex can silence future dissenters who may be tempted to emulate Bitfinex’ed and start slinging mud. Bitfinex’ed, in return, can portray itself as the victim of a witch hunt whilst boosting its bitcoin balance. Regardless of how this case plays out, one thing that seems further away than ever is the truth. Until Bitfinex publishes the long-overdue audit of its accounts, speculation will continue.

Do you think Bitfinex will follow through with their supposed lawsuit against Bitfinex’ed? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post Bitfinex Slaps a Lawsuit on Its Nemesis as the Tether Squabble Gets Ugly appeared first on Bitcoin News.

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PR: trade.io Announces Historic Partnerships & Introduces Tiered Structure Further to Community Demand

December 5, 2017 |

trade.io Historic Partnerships

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Highly anticipated upcoming ICO trade.io has made three major announcements this week, which have strengthened its positioning as one of the leading ICOs to invest in, for 2017.

The company has launched an historic partnership with The University Of Nicosia. Two post-doctoral seats, funded by trade.io will focus on advanced research in Distributed Ledger Technology (DLT). The research will have a specific focus on side-chains and cross-chain interoperability, as well as smart token corporate governance best practices and implementation.

trade.io has partnered with HitBTC, one of the largest cryptocurrency exchanges, exceeding upwards of half a billion in daily volume, and operating since 2014. Once listed on the HitBTC exchange, the Trade Token (listed as TIO) will trade against the counters Bitcoin (BCT) and Ethereum (ETH).

The company has introduced a four-part tiered pricing structure, further to overwhelming demand from the community.

7-14 December
1 ETH = 900 Trade Tokens

14-21 December
1 ETH = 800 Trade Tokens

21-28 December
1 ETH = 700 Trade Tokens

28 December – 4 January
1 ETH = 600 Trade Tokens

On this, CEO Jim Preissler commented: “Our community has spoken. You have been asking us to extend the low Trade Token price for the ICO. The strength of trade.io lies in our community, your voice acts as a directing force for strategic decisions. With this in mind, our board has agreed to extend the low pricing by adding a tiered structure, giving early movers a bigger incentive to contribute and also to allow more time for such contributions”

Contact Email Address
helen@trade.io
Supporting Link
trade.io

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: trade.io Announces Historic Partnerships & Introduces Tiered Structure Further to Community Demand appeared first on Bitcoin News.

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Silk Road – The Theatrical Version, Funded by Bitcoin, to Debut in London

December 5, 2017 |

Ross Ulbricht's Silk Road Story, Funded by Bitcoin, to Debut in London

The first of its kind to be funded by bitcoin, Silk Road, the play, ran in 2014 at the prestigious Edinburgh Festival Fringe. After a hiatus, it’s back and having a premiere in London. A one-man story based loosely on the trials and tribulations of Ross Ulbricht, who was convicted of having operated the notorious site and sentenced to two life terms, the production is both a symbol of the world’s most popular cryptocurrency’s drama and its power.

Also readDear Ross Ulbricht

Ross Ulbricht's Silk Road Story, Funded by Bitcoin, to Debut in London

Silk Road the First Theatrical Production to be Funded by Bitcoin

Silk Road is Alex Oates’ attempt to weave mild politics in with a kind of morality tale. He was able to crowdfund his project on multiple sites, including Kickstarter. Even those participating in the original Silk Road forums were solicited, and an anonymous donor gave two bitcoin. At the time, they barely scraped 400 dollars a coin. Now, of course, they’re hovering over 11,000 USD. That, and according to press reports, Mr. Oates “has gone on to amass a ‘blockfolio’ currently worth $ 40,000, made up of multiple cryptocurrencies.”

Alex Oates didn’t describe himself as someone particularly interested in bitcoin prior to hearing about Silk Road. After an encounter with the site, and the subsequent arrest and conviction of its alleged mastermind, Mr. Oates saw a story there.

Ross Ulbricht's Silk Road Story, Funded by Bitcoin, to Debut in London

The Ross Ulbricht story is worth telling, and worth telling in as many different ways as tears have been shed. For mainstream media, it’s a story of drugs and forbidden websites and a mysterious currency used by scofflaws. Some of that is undoubtedly true, but there’s a deeper, almost inchoate sense of morality and proportion often missed.

Mr. Ulbricht at most brought buyers and sellers together without official sanction. He never personally sold illegal drugs. Never purchased them, either. Instead, buying and selling occurred on the Silk Road in permissionless goods and services, some of them deemed illegal by some governments.

A bright, and by all accounts, kind and brilliant young man was essentially made an example: mess with unregulated currency, facilitate anything less than completely micromanaged commercial websites, and that person is risking their life.

Silk Road, the Play

Starring UK television actor, James Baxter, Silk Road is the story of the character Bruce Blakemore, a working class bloke from North Eastern England who lives with his grandmother. Reviewers have called it “a host of unforgettable characters … [a] pitch-black comedy for the Bitcoin generation.”

Directed by Dominic Shaw, it is “the first show ever funded by the crypto currency, Bitcoin,” they claim. It follows Bruce as he and his “nan” are roped into the seedy underworld of dark websites, pirates, drugs, and eventually law enforcement.

It opens at the Vault Festival, January 24th, 2018, and runs through the 28th at the Shrapnel Theatre.

Those interested in supporting Ross Ulbricht’s future appeals are encouraged to surf over to FreeRoss.org.

What are your thoughts in popularizing the Ross Ulbricht story? Tell us in the comments section below.


Images courtesy of Pixabay, FreeRoss.org.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Silk Road – The Theatrical Version, Funded by Bitcoin, to Debut in London appeared first on Bitcoin News.

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This Bulgarian Business School Offers Bitcoin Scholarships

December 5, 2017 |

This Bulgarian Business School Offers Bitcoin Scholarships

This week the international business school, Varna University of Management (VUM), located in Bulgaria, has announced that ten applicants for the school’s software engineering bachelor’s program will earn bitcoin-based scholarships. Students will be able to choose to receive the scholarship fund for 1000 EUR in the equivalent amount of bitcoins.

Also read: Despite Warnings China’s Over the Counter Bitcoin Economy Is Booming

VUM: ‘Endorsing and Integrating Bitcoin Is a Rational Choice for Us’

This Bulgarian Business School Offers Bitcoin ScholarshipsLately, lots of universities are starting to offer bitcoin courses and have begun to accept the decentralized currency for books and tuition. Just recently news.Bitcoin.com reported on the Swiss vocational school Lucerne University accepting bitcoin for tuition. Alongside this, NYU is planning to offer undergraduate courses in cryptocurrencies. Now, this week the Bulgarian-based Varna University of Management plans to provide bitcoin scholarships worth 1000 EUR to ten students who apply for the funding. The bitcoin scholarships will be given to students based on their background, and past achievements.

“[VUM] is pleased to announce that ten applicants for Software Engineering bachelor’s programme will now have the opportunity to earn Bitcoin scholarships, starting from Fall 2018 semester,” explains the Bulgarian school.

We strongly believe that cryptocurrency is an inevitable technical development that will lead to significant innovation in all aspects of our lives — VUM is an innovative and future-oriented university — Endorsing and integrating bitcoin is a rational choice for us. We are always interested in delivering disruptive technologies in our IT and business programmes and cryptocurrency is definitely one of them.           

Bitcoin Offers a Significant Opportunity

This Bulgarian Business School Offers Bitcoin ScholarshipsAt the moment, VUM plans to integrate bitcoin payments for tuition and accommodation fees, and expects the integration will be finalized soon. Further, the university’s school of computer science is adding modules that cover digital assets and blockchain technology. These additions will be added to VUM’s existing bachelor’s program in software engineering.  

“As Varna University of Management will now be the only accredited university to offer scholarships in bitcoins, we believe that we will have a chance to attract some of the brightest students to Varna,” VUM details.

We believe that bitcoin offers a significant opportunity for innovation and development; we would like to see our beloved country using its powerful human capital to become a leader in this digital revolution. This can create an entirely new industry and thousands of new jobs in Varna and all Bulgaria.

VUM joins the growing list of schools adopting bitcoin which includes the University of Cumbria, the University Business School ESMT Berlin, King’s College in New York, the University of Nicosia, and more.

What do you think about the Bulgarian Varna University of Management giving away bitcoin scholarships to qualified applicants? Let us know in the comments below.


Images via Pixabay, and VUM. 


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Bitfury is Building the ”Largest Bitcoin Mining Operation in North America”

December 5, 2017 |

Bitfury is Building the Largest Bitcoin Mining Operation in North America

Vancouver’s Hut 8 Mining Corp has announced plans to create “North America’s largest bitcoin mining datacenters”. The ambitious scheme will see the Canadian firm partner with mining specialists Bitfury, who will provide the hardware, software, and maintenance. Subject to necessary funding being raised, the deal is expected to be completed in 2018.

Also read: Bitcoin-Based Ethereum Smart Contract and Sidechain Rival RSK Launches

America’s Biggest Mining Operation Gets Underway

In a statement released December 4, Hut 8 revealed details of a multi-stage process to dominate the American cryptocurrency mining industry. The project will commence with the acquisition of 22 datacenters which will furnish the British Columbia firm with over 24 MW of hashing power. For the second phase of the deal, which will see an additional 35 datacenters packing 38.5 MW snapped up, Hut 8 is dependent on a public listing on the Canadian stock exchange. In a statement, CEO Sean Clark said:

Bitfury’s market share, unmatched computing power, and ability to scale, in combination with a Board of Directors that former hedge fund manager Michael Novogratz and renowned venture capitalist Bill Tai have both agreed to serve on, offers Hut 8 an extreme advantage in a competitive marketplace.

The High Price of Mining Digital Gold

The deal that Hut 8 has struck with Bitfury gives the Canadian mining company the option to purchase datacenters – i.e. mining farms – exclusively from Bitfury. As it stands, Hut 8 evidently lacks the funds to bring the project to completion. As a consequence, it’s offering 13.2 million shares via GMP Securities LP, which have been valued at U.S. $ 26 million.

Bitfury is Building the Largest Bitcoin Mining Operation in North America
The Blockbox mobile datacenter

Subject to the protracted deal being completed, which should occur sometime in 2018, Hut 8 will be able to lay claim to operating the largest mining operation in North America, with a total output of over 60 MW. Aside from successfully live testing bitcoin transactions on the Lightning Network, Bitfury is best known for its mining rigs. The company, which mined the first 1MB+ segwit block, is responsible for Blockbox, a mobile bitcoin mining unit. It also specializes in data center construction and semiconductors.

The news illustrates just how far cryptocurrency mining has come from the days when it was accessible to hobbyists and small-scale mining pools. Geographically the Bitfury and Hut 8 represents a shift in power. With sprawling new farms poised to spring up in Russia, Northern Europe, and North America, China’s grip on the mining game may be slipping.

Do you think it’s a good if China looses it’s grip on mining or are you worried events like these increases the centralisation regarding hardware manufacturing? Let us know in the comments section below.


Images courtesy of Shutterstock, and Bitfury.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Bitfury is Building the ”Largest Bitcoin Mining Operation in North America” appeared first on Bitcoin News.

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Azerbaijan Rejects Crypto as Means of Payment

December 5, 2017 |

Azerbaijan Monitoring Cryptocurrency Before Regulating, Rejects Crypto as Means of Payment

The chairman of Azerbaijan’s Central Bank (CBA), Elman Rustamov, has described the nation’s position regarding cryptocurrencies as ‘conservative’ according to local reports. Mr. Rustamov stated that the CBA does not recognize cryptocurrencies as a legitimate means of payment and that the central bank intends to develop a “legislative infrastructure” before “introducing [the] technology.”

Also Read: Venezuela Announces the Creation of Oil-Backed National Cryptocurrency – the Petro

Mr. Rustamov Addressed Cryptocurrencies During Budget Discussions in the Azerbaijani Parliament Late Last Month

LEFT: Mr. Rustamov

The central bank chairman stated “We think that cryptocurrencies continue to be a dangerous instrument for investing,” describing the CBA’s position regarding crypto as conservative.

Mr. Rustamov stated that CBA will monitor international trends in cryptocurrency and blockchain regulation before developing a regulatory framework for various distributed ledger technologies. Mr. Rustamov stated:

“The Central Bank intends to help in studying this technology and its future use in the financial and banking sector of Azerbaijan, and in the future in public services for the population. For this, we have already started negotiations with leading consulting companies. I think that at the first stage, we must create stable technological and legislative infrastructure, and then start introducing this technology.”

The Central Bank of Azerbaijan May Develop Blockchain Technology

Azerbaijan Monitoring Cryptocurrency Before Regulating, Rejects Crypto as Means of PaymentThe CBA’s first deputy chairman, Alim Guliyev, recently indicated that the central bank may explore the adoption of blockchain technology for the payment systems and electronic identity verification, following a meeting with Swiss officials at the end of November.

Azerbaijan joins a growing number of countries that have rejected recognizing cryptocurrency as a legitimate means of payment. Earlier this week, Indian Finance Minister Arun Jaitley stated: “The government’s position is clear, we don’t recognize this as legal currency as of now.” Indonesia has also recently moved against legitimizing cryptocurrencies, with nation’s central bank expected to develop prohibitive regulations during 2018. Numerous authoritative regimes have expressed a similar sentiment, including the governments of China, Russia, and Vietnam.

What is your response to Azerbaijan’s central bank’s comments on cryptocurrency? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Wikipedia


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Report Claims That 46% of All Funds Generated by ICOs Have Been Raised in Europe

December 5, 2017 |

Report Claims That 46% of All Funds Generated by ICOs Have Been Raised in Europe

Research conducted by Atomico, a prominent European venture capital firm, claims that nearly half of all funds generated through initial coin offerings (ICOs) has been raised in Europe. The findings have been published in the third edition of Atomico’s State of European Tech Report.

Also Read: The Ethereum Blockchain Is Congested by Cats

“There Are More ICO Projects Coming From Europe-Based Entities and European Founders Than Any Other Region”

Atomico’s assessments regarding ICOs is principally drawn from data compiled by TokenData. Although 90% of all financing raised through ICOs has occurred during 2017, the data purports to have analyzed the funds raised by all initial coin offerings since 2014.

Atomic’s report asserts that European ICOs have raised 46% of all financing generated through initial coin offerings, or roughly $ 1.76 billion USD. The findings also conclude that almost half of funds raised in Europe have gone to ICOs based in Switzerland, predominantly within Zug – a low-tax region that has emerged as a major international hub for cryptocurrency innovation. The research states that roughly $ 828 million has been generated by ICOs based in Switzerland, equating to approximately 47% of all funds raised in Europe.

North American Initial Coin Offerings Are Estimated to Have Raised $ 1.08 Billion USD Since 2014 – Roughly 28% of All Funds Raised Through ICOs

Report Claims That 46% of All Funds Generated by ICO Have Been Raised in EuropeThe report states that “Europe is well-positioned to play a key role in crypto space,” adding that “There has been an explosion of European developer engagement with cryptocurrencies, most notably on Ethereum-related topics.”

Based on Deloitte analysis of GitHub Data, the report concludes that the United Kingdom, Germany, and Russia host the largest number of blockchain development projects in Europe. According to the data, of the 8,265 active blockchain projects in Europe, the U.K. accounts for 1,674, Germany 1,307, and Russia 721. However, the research notes that the United States domiciles 9,565 active blockchain projects.

The report also states that Europe hosts the largest number of “reachable Bitcoin nodes by region” with 5,221, followed by the United States with 3,375, and then China with 622.

Are you surprised by Atomico’s findings? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Atomico.


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Israeli Regulator: We Need to Welcome Cryptocurrency to Develop International ICO Hub

December 4, 2017 |

Israeli Regulator: We Need to Welcome Cryptocurrency to Develop International ICO Hub

One of the toughest financial regulators in Israel has made some surprisingly positive comments today regarding the acceptance of ICO crowdfunding and cryptocurrency. The outgoing chairman of the Israel Securities Authority (ISA) talked about a need to foster the creation of an international financial center based on ICOs.

Also read: Reports of Israeli ICO Ban Are Fake News, Entrepreneurs Look to Create ‘Crypto Nation’

Israeli Regulator: We Need to Welcome Cryptocurrency to Develop International ICO Hub
Prof. Shmuel Hauser, Outgoing ISA Chairman

Speaking for the last time as the ISA head before the Israeli corporations conference, Prof. Shmuel Hauser discussed the main challenges that the regulatory body still faces. Regarding ICOs he said:

“We will have to bring order to the market. Some countries decided to examine digital tokens on a case by case basis. A small number decided to ban them. We have decided to find out, with a team headed by the chief economist and the head of the corporations division, under which terms is it a security? Coin? Or some hybrid I call a security-coin?

“The team is meant to file its report by the end of December. We will have to define for ourselves and the market what is this beast. Among other things, we will need to consider expanding the supervision on security-coin and define a proper regulatory framework, different from the one we know for IPOs.

“I believe that the topic of digital currencies and their offerings must receive a favorable regulatory response, maybe even daring somewhat, to give a chance for the option to develop an international financial center for security-coin from the type of ICOs.”

Still, the professor added that the regulatory framework will need to show a certain degree of paternalism to make sure ICOs won’t develop in directions he considers to be negative.

ICO Nation

Israeli Regulator: We Need to Welcome Cryptocurrency to Develop International ICO HubThough they had very little to do with its development, Israeli politicians and high-ranking bureaucrats often pride themselves in the country’s ‘Startup Nation’ status.

About 5,000 high-tech startups are estimated to be operating in Israel at any moment. Most of them fail to mature due to local VCs allowing them very short growth periods before pressuring them to sell out or pulling the plug. ICOs could help fill this much talked about gap between seed funding and full blown IPO.

If regulators were to just step back and refrain from suffocating the nascent ICO scene in Israel, it is expected that a thousand ICOs could be launched in the country in 2018.

How should Israeli regulators promote ICO projects in the country? Tell us what you think in the comments section below.


Images courtesy of Shutterstock, ISA.


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

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