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| September 17, 2019

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The Daily Spike: A Canine Companion is born

September 13, 2019 |

As a token of their appreciation, Canine Companions gave Dana Perino the honor of naming a new service dog.
FOX News

Millions Should Stop Taking a Daily Aspirin

July 23, 2019 |

Millions of Americans take an aspirin every day with the aim of improving their health, but doctors say many of them are doing more harm than good. Conventional wisdom once held that a daily low-dose aspirin helped ward off heart attacks and strokes by thinning the blood. But as a…
Newser

BCH Can Be the Global Coin for Daily Spending, Says Italian Crypto Executive

June 23, 2019 |

BCH Can Be the Global Coin for Daily Spending, Says Italian Crypto Executive

Italy has had its share of economic problems in the past decade and a growing number of its citizens blame the euro for their country’s misfortunes. Italians, many of whom still prefer to use cash, are now turning their attention to cryptocurrencies such as BCH. Federico Pecoraro, the CEO of Chainblock, one of the first crypto companies in the country, thinks it’s the right time to enable more people and businesses to benefit from using decentralized money. He considers bitcoin cash a good candidate to become the world’s digital coin for daily spending.

Also read: These Websites Help You Shop With Major Retailers Using Cryptocurrency

Rome’s Troubles Create Conditions for Cryptocurrency Adoption

Italy is an interesting case in Europe. In certain aspects, the country is part of EU’s Southern Flank, a region facing serious economic and financial challenges in the past 10 years. On the other hand, it’s one of the world’s largest economies. And just like the rest of the continent, it has its own North-South disproportions in terms of industrialization and level of economic development. As a whole, Italy remains one of the most advanced economies, it’s the third-largest in the Eurozone and the eighth in the world by nominal GDP. It is also one of the largest exporters on the planet, including of high value added products.

BCH Can Be the Global Coin for Daily Spending, Says Italian Crypto Executive

The Italian economy took a hard hit from the 2008 financial crisis. The country’s problems were exacerbated by its huge public debt accumulated due to excessive spending by the government in Rome during the previous couple of decades. Since then, Italy has managed to catch up with the average Eurozone growth indicators. However, many ordinary Italians, over a third of whom live in poverty or risk of social exclusion, blame the adoption of the euro for the loss of economic power. Critics say Europe’s common fiat currency has been tailored to the interests of others further north.

In these circumstances, cryptocurrencies are gradually winning hearts and minds in Italy. Despite the ups and downs, the long-term trend in the economy built around decentralized digital assets has been mostly positive. Crypto winter, which seems to have passed already, has been a tough time for almost any company involved in cryptocurrencies, according to Federico Pecoraro, CEO of Chainblock. There has been an overall decrease in transactions in the Italian crypto sector during last year. “Media coverage has been quieter after March 2018 too,” the entrepreneur told news.Bitcoin.com.

Leading Italian Crypto Company Launches New Services

Chainblock is a well-established crypto company which started in 2013 as the first Bitcoin ATM operator in Italy. It has recently expanded its portfolio and now operates Chainblock Buy, a hybrid exchange for buying, trading and selling cryptocurrencies, Chainblock Buy With Cards which is a service for people who want to buy coins with debit and credit cards, and Chainblock Pay, a solution for merchants that want to accept crypto payments. The latter already has a prominent client – Vapor Art, which is the largest supplier of e-cigarettes in Italy. Pecoraro explained:

We love small businesses that want to accept crypto payments but we want to enable as many merchants as we can with a strategic market approach. Our goal is to provide affordable and scalable solutions for both big and small shops and spread real cryptocurrency mass adoption. We plan to enable 5,000 merchants to accept Bitcoin payments.

Pecoraro pointed out that Chainblock Buy With Cards and Chainblock Pay are the company’s latest products that were launched in 2019, while Chainblock Buy has been online since last year. At the same time, the company remains a market leader with its core ATM business – people can use its teller machines to purchase digital coins with fiat cash. “Our mission is to allow anyone to easily buy and spend cryptocurrencies, and we proudly support Bitcoin Cash from its beginning,” emphasized the company’s chief executive.

Like other crypto businesses with strong foundations, Chainblock has used the “winter months” in the industry to develop new products in order to expand its customer base. It also installed six new ATMs in 2018, including one device in a large shopping mall visited by over 8 million customers annually. “At the end of 2018, we had a 156% increase in transactions and a 144% increase in new users,” Federico Pecoraro revealed. He believes Italy has what it takes to become the starting point of an economic revolution that embraces cryptocurrencies and says this could happen sooner than people might think. That’s why, during a meeting with representatives of Banca d’Italia, the country’s central bank, his team proposed the conversion of some of the nation’s gold reserves into bitcoin. Italy actually has the third biggest gold reserve in the world, the businessman noted.

BCH Can Be the Global Coin for Daily Spending, Says Italian Crypto Executive
Banca d’Italia

Pecoraro further elaborated that while bitcoin core (BTC) may have the role of a store-of-value currency at the moment, bitcoin cash (BCH) could be the cryptocurrency that would fit perfectly as a real global coin for daily spending. “We’re proud to support it on our products. Indeed, our clients have the opportunity to buy BCH through any of our services,” he stressed. The entrepreneur also shared details about the profile of his company’s customers. Most often, young clients buy online while older customers generally prefer to purchase digital assets from ATMs with cash.

“Italian people still use a lot of cash, and we give them an easy way to convert it into their favorite cryptocurrencies. The average Chainblock Buy user is a male aged 24-35 who wants to invest some money in cryptocurrencies, while the average Chainblock ATM user is rather a curious person exploring cryptocurrencies for the first time,” said Federico Pecoraro. “Our ATMs guarantee a unique experience through which people can understand how easy it is to buy bitcoin cash and bitcoin core.”

Italy is home to large diasporas from Eastern Europe, Africa, the Mediterranean region, and Pecoraro acknowledged that immigrants and guest workers were among Chainblock’s first clients. “In fact, cryptocurrencies are still the best way to send money worldwide, a cheap and fast way, especially in countries where there is no strong banking system. At the same time, due to strict KYC/AML policies, sending coins is not as easy as it was years ago and this could be a barrier for first-time users. We try anyway to do our best and we also expect to work soon on specific remittance products and services,” the CEO added.

Lack of Regulatory Clarity for Digital Assets Persists

Chainblock is operating as a crypto company that provides non-custodial services but it’s compliant with the applicable know-your-customer (KYC) and anti-money-laundering (AML) requirements and is partnering with traditional financial institutions including the central bank. However, Italian authorities have so far taken few steps to regulate the cryptocurrency industry. In February 2019, lawmakers approved a bill introducing legal definitions for terms associated with the crypto sector such as “smart contract” and “distributed ledger technology” (DLT). The law, which is the first attempt to regulate some aspects of the industry, tasked the country’s Agenzia per l’Italia Digitale with creating specific technical standards DLT technologies will be expected to meet.

BCH Can Be the Global Coin for Daily Spending, Says Italian Crypto Executive
Italian parliament

Despite the new legislation, the legal status of cryptocurrencies in Italy remains largely undefined. Banca d’Italia has previously described them as “digital representations of a value” and some substatutory acts on money laundering have noted that coins can be transferred, stored and traded electronically, used as a means of exchange and to pay for goods and services. In early 2018, public consultations were conducted on the adoption of rules to govern the registration of companies dealing with crypto assets, and in December the Ministry of Economic Development selected 30 individuals to develop the country’s regulatory strategy regarding blockchain technologies and cryptocurrencies.

The Italian securities regulator, Commissione Nazionale per le Società e la Borsa (Consob), has so far issued multiple warnings against unlicensed companies promoting crypto investment opportunities. Meanwhile, the debate on how to tax crypto holdings and profits continues. More clarity regarding cryptocurrency regulations in Italy and other countries is likely to come after the recent release of the international standards for virtual assets issued by the Financial Action Task Force (FATF). The intergovernmental body vowed to closely follow their implementation in member states within the next 12 months.

Do you expect Italy to regulate cryptocurrencies by the end of 2019? Share your thoughts on the subject in the comments section below.


Images courtesy of Shutterstock.


Do you need a reliable Bitcoin mobile wallet to send, receive, and store your coins? Download one for free from us and then head to our Purchase Bitcoin page where you can quickly buy BCH and BTC with a credit card.

The post BCH Can Be the Global Coin for Daily Spending, Says Italian Crypto Executive appeared first on Bitcoin News.

Bitcoin News

In the Daily: Mt. Gox Claims, Crypto Derivatives, Facebook Vacancy, Swiss Regulations

March 22, 2019 |

In the Daily: Mt Gox Claims, Crypto Derivatives, Facebook Vacancy, Swiss Regulations

Mt. Gox rehabilitation trustee Nobuaki Kobayashi has reviewed the claims filed by the exchange’s creditors and we’ve included his announcement in The Daily. Also, Caspian launches crypto derivatives trading in partnership with Deribit, Facebook is looking to hire a blockchain lawyer, and Swiss lawmakers have tasked the federal government with adapting existing regulations to cryptocurrencies.

Also read: Coins at Kiosks, Micropayment Solutions, Token Launchpad, GPU Inventory

Mt. Gox Trustee Completes Review of Claims

The rehabilitation trustee in the Mt. Gox case, Nobuaki Kobayashi, has completed the review of the claims filed by the users of the hacked exchange. According to an official announcement, Kobayashi has approved or disapproved the claims of the creditors concerning their rights to ask for the return of their funds from Mt. Gox and submitted the respective statements to the Tokyo District Court.

In the Daily: Mt. Gox Claims, Crypto Derivatives, Facebook Vacancy, Swiss Regulations

The English translation of the document, dated March 19, reveals that in the coming days the trustee will inform the claimants of the results of his review. Users who have filed their claims through the online filling system hosted on the Mt. Gox website will be able to check the results by logging into their accounts. Other creditors will be notified of the approval or disapproval of their rehabilitation claims via email.

Caspian Launches Crypto Derivatives Trading

Asset management platform Caspian, which works with institutional investors, has announced it’s now offering options and futures crypto trading. The new services will be provided through an integration with the crypto derivatives exchange Deribit. Caspian clients will have access to financial instruments based on bitcoin core (BTC) and ethereum (ETH). Perpetual crypto swaps will also be available.

According to a press release, Caspian connects to the Deribit platform via an API that supports high volumes with low latency, providing traders and investors with access to the exchange’s full options order book. Representatives of the company noted that no fee will be charged on deposits and withdrawals of funds from the platform. Clients will be offered leverage up to 100x.

Facebook to Hire Lawyer Experienced in Blockchain

Social media giant Facebook has recently announced a vacancy for a legal expert with blockchain experience. According to the ad, the future Lead Commercial Counsel will be expected to support the company’s “new initiative in the development of blockchain applications.”

In the Daily: Mt. Gox Claims, Crypto Derivatives, Facebook Vacancy, Swiss Regulations

“You will be responsible for drafting and negotiating a wide variety of contracts related to our blockchain initiatives, including partnerships needed to launch new products and expand such products internationally,” details the job posting published this week on Facebook’s website. The lawyer will also advise clients on the legal risks related to commercial transactions and general operations.

Although the announcement does not explicitly mention digital assets or cryptocurrencies, “experience with blockchain or payments technology” is among the minimum qualifications candidates are required to have. They should also have prior experience in dealing with the legal issues arising from blockchain applications and payment systems.

Swiss Lawmakers Want Crypto Regulations

The Federal Assembly, Switzerland’s legislature, has approved a proposal to task the Alpine nation’s government with adapting the existing provisions and procedures used by the judicial and administrative authorities so that they can be applied to cryptocurrencies. The motion filed by Giovanni Merlini, a member of the Swiss parliament, was approved in a 99 to 83 vote with only 10 abstentions.

In the Daily: Mt. Gox Claims, Crypto Derivatives, Facebook Vacancy, Swiss Regulations

According to an announcement published on the assembly’s website, Merlini insisted on the importance of closing the gaps in the protection against abuse in the crypto space. The lawmaker noted that cryptocurrencies could be issued to anyone via decentralized, peer-to-peer networks and warned that many of them are anonymous. This, in his opinion, favors extortion and money laundering.

The Federal Council, the Swiss central government, is now expected to clarify how the risks can be contained and whether entities operating crypto trading platforms should be subjected to supervision by the country’s financial watchdog, Finma.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post In the Daily: Mt. Gox Claims, Crypto Derivatives, Facebook Vacancy, Swiss Regulations appeared first on Bitcoin News.

Bitcoin News

In the Daily: Coins at Kiosks, Micropayment Solutions, Token Launchpad, GPU Inventory  

March 21, 2019 |

In the Daily: Coins at Kiosks, Micropayment Solutions, Token Launchpad, GPU Inventory

In this edition of The Daily, we feature a couple of announcements by leading crypto exchanges. Binance starts selling cryptocurrency for cash at newsagent stores in Australia, while Huobi is launching its new token listing platform. In other news, Aeternity and Satoshipay join forces to offer faster crypto micropayments and Nvidia expects to clear mining chip inventory in this quarter.

Also read: Crypto Data Feed, BSV Sale, Bitmain Office Closed

Binance to Sell Cryptocurrencies at Newsagents in Australia

Binance, the world’s leading cryptocurrency exchange by volume, has announced the launch of Binance Lite Australia, a platform that will allow local residents to buy cryptocurrency at more than 1,300 newsagents across the country. Currently, the new cash-to-crypto service supports only purchases of bitcoin core (BTC) with Australian dollars (AUD) but other digital coins and fiat currency options will be added in the future.

In the Daily: Coins at Kiosks, Micropayment Solutions, Token Launchpad, GPU Inventory

To acquire the crypto, customers will have to place an order online and then deposit the cash at the nearest newspaper kiosk. But before they can do so, they will have to provide their personal details and pass account verification on the website of the platform, binancelite.com. Verified users will be able to place their orders and receive the coins within minutes, the exchange promised in a blog post. Binance Lite Australia will charge a 5 percent fee for the service.

Token Launchpad Huobi Prime to Go Live on Tuesday

Digital asset exchange Huobi announced the launch date of its new token listing platform. Huobi Prime will go live next Tuesday, March 26, the company revealed in a tweet this week. The first campaign based on Huobi’s launchpad will be held by a project called TOP Network, which will distribute 1.5 billion TOP tokens among its users in three 30-minute rounds.

In the Daily: Coins at Kiosks, Micropayment Solutions, Token Launchpad, GPU Inventory

According to the announcement, Huobi Prime will allow crypto projects to trade their coins immediately in a model described by the exchange as “direct premium offering.” Tokens issued through the platform, which is an alternative to Binance Launchpad, may be listed in the future on Huobi Global and Hbus in trading pairs with USDT, BTC, ETH, and KRW.

Aeternity Invests in Micropayment Platform Satoshipay

Aeternity, a project developing a blockchain protocol for smart contracts with open code, has acquired a stake in Satoshipay. According to a press release, the deal was sealed during the latest financing round for the micropayment service. Satoshipay will now be able to integrate Aeternity nanopayment solutions and offer its users faster transactions.

Axel Springer SE, one of the largest digital content companies in Europe which runs news outlets such as Upday, Die Welt, Bild, and Business Insider, will be among the first users of the new services offered by Aeternity and Satoshipay. Its users will be able to pay for the content with cryptocurrency via the Satoshipay wallet.

In the Daily: Coins at Kiosks, Micropayment Solutions, Token Launchpad, GPU Inventory

Nvidia to Clear Mining GPU Inventory

Video card manufacturer Nvidia is expecting to soon clear the excess inventory accumulated in anticipation of high demand for cryptocurrency mining equipment. The company believes it will manage to achieve that during Q1 of 2019, according to comments made by its CFO Colette Kress during a meeting with investors in California this past Tuesday, Bloomberg reported. The stockpile of unsold graphics processing components was created when the sales of chips dropped last year following the decline in cryptocurrency prices.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post In the Daily: Coins at Kiosks, Micropayment Solutions, Token Launchpad, GPU Inventory   appeared first on Bitcoin News.

Bitcoin News

In the Daily: Crypto Data Feed, BSV Sale, Bitmain Office Closed

March 20, 2019 |

In the Daily: Crypto Data Feed, BSV Sale, Bitmain Office Closed

Intercontinental Exchange has added new coins to its cryptocurrency data feed and we’ve got the details in this installment of The Daily. This edition also features Coincheck’s announcement that it plans to sell its BSV holdings and reimburse users with Japanese fiat currency. Also, Chinese mining giant Bitmain has closed its office in Norway.

Also read: Cryptopia Resumes Trading, US Crypto Lobbying Intensifies, Visa Crypto Job

ICE Adds More Coins to Its Cryptocurrency Data Feed

Intercontinental Exchange Inc., the operator of the New York Stock Exchange, has expanded the scope of its ICE Cryptocurrency Data Feed to cover dozens of new cryptocurrencies. The service uses data from hundreds of sources in the crypto space, as the platform announced earlier this month.

When it launched in January of last year, it was compiling data from around 15 exchanges. Now it promises users a comprehensive view of the market that can help them optimize their digital asset trading. The service is also targeting traditional financial institutions that want to enter the industry.

In the Daily: Crypto Data Feed, BSV Sale, Bitmain Office Closed

Last week ICE Data Services tweeted a list of the digital coins that have been included in the data feed so far. Among them are major cryptocurrencies such as bitcoin core (BTC), bitcoin cash (BCH), ethereum (ETH) and litecoin (LTC).

Totaling almost 60 projects, the list also includes aelf, ardor, augur, cardano, basic attention token, BSV, BTG, bitshares, bytom, cybermiles, crypto.com, dash, decentraland, digibyte, dogecoin, elastos, eos , ethereum classic, gas, gemini dollar, huobi token, icon, iost, kyber network, lisk, metaverse ETP, miota, mithril, monero, nebulas, nem, neo, odyssey, omisego, ontology, paxos, qtum, ripple, siacoin, status, steem dollars, stellar, tenx, theta token, tether, tron, trueusd, usd coin, vechain, verge, waltonchain, zcash, zilliqa, and 0x.

Crypto Exchange Coincheck to Sell BSV Holdings

Japanese digital asset exchange Coincheck has announced intentions to sell the BSV holdings accumulated as a result of the hard fork of the Bitcoin Cash network in November. The platform plans to convert the coins to fiat money and reimburse its holders with the corresponding amounts in Japanese yen that will be deposited to their trading accounts.

In the Daily: Crypto Data Feed, BSV Sale, Bitmain Office Closed

Coincheck explained in an announcement quoted by AMB Crypto that the fiat equivalent could be lower than the market price of the coins and noted that a fee will be charged for yen withdrawals. The exchange did not reveal the date and the exact time of the upcoming sale in order to avoid affecting the market price of the currency. It also stated that only BSV funds will be sold.

Bitmain Closes Office in Norway

Chinese crypto mining giant Bitmain has closed its branch in Norway only a year after its opening. The Beijing-headquartered company has already terminated all its operations in the Scandinavian country and moved its office to Germany, ICO Shock reported, quoting the former Norwegian manager of the company, Julie Hvideberg.

According to the executive, the main reason for the move is the revocation of electricity subsidies for mining facilities in the country. In November, the Norwegian government decided that crypto-based data centers should pay the full electricity rates and taxes, unlike traditional data centers.

In the Daily: Crypto Data Feed, BSV Sale, Bitmain Office Closed

The publication highlights the controversial nature of the decision which attracted a lot of criticism from the power and data industry. Hvideberg, who has already quit her job, believes that in the future major mining pools will be concentrated in China and Russia, where electrical energy is much cheaper.

On the backdrop of falling crypto prices, Bitmain closed its Amsterdam office and suspended its operations in a Texas-based mining facility in mid-January. And in December, the company shut down its research and development center in Israel.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post In the Daily: Crypto Data Feed, BSV Sale, Bitmain Office Closed appeared first on Bitcoin News.

Bitcoin News

In the Daily: Cryptopia Resumes Trading, US Crypto Lobbying Intensifies, Visa Crypto Job

March 19, 2019 |

In the Daily: Cryptopia Resumes Trading, Lobbying Intensifies in US, Visa Crypto Job

In this edition of The Daily we cover the resumption of trading on the hacked New Zealand exchange Cryptopia, the American digital assets industry’s increased lobbying of politicians, and a wanted ad by the Visa Crypto team.

Also Read: Tel Aviv Court Rules Bank Can’t Close Crypto Miner’s Account

Cryptopia Resumes Trading, Plans Rebate

The New Zealand-based cryptocurrency exchange Cryptopia is now open for trading again. The platform, which was hacked at the start of the year losing almost 10 percent of its assets, has announced that it’s resumed trading on 40 trade pairs that its team has quantified as secure and will continue to expand this list as they clear more coins.

In the Daily: Cryptopia Resumes Trading, US Crypto Lobbying Intensifies, Visa Crypto Job

The Cryptopia team also sent out an email to update customers on the progress they are making, promising there will be a rebate for those who lost funds. Users will start to see withdrawals of their lost funds and a deposit of Cryptopia Loss Marker (CLM) instead. The platform explained that CLM is not a coin, it can’t be traded as yet, and is rather just a number in the database that represents the loss for each coin for each user in $ NZD at the time of the hack. The rebate won’t be immediate as the company still needs to take steps ensure that the planned reimbursement process follows local laws.

Crypto Industry Lobbying Intensifies in US

As regulators and lawmakers get more involved in any market, businesses in the field usually feel they have to respond by hiring lobbyists to represent their interests with politicians. As such it should come as no surprise that there’s been a strong regulatory push in the U.S. to control the digital assets market, such as instructing projects who they can offer tokens to and classifying certain coins as securities. This in turn has led to cryptocurrency companies stepping up their political game. A new report shows that the industry almost tripled its lobbying efforts over the last year.

In the Daily: Cryptopia Resumes Trading, US Crypto Lobbying Intensifies, Visa Crypto Job
K Street, the center of lobbying in Washington, D.C

“Lobbying on cryptocurrencies and the blockchain technology underpinning them is a niche but growing industry on K Street,” Politico reported on Monday. “The number of entities that reported lobbying on blockchain issues has nearly tripled over the past year, according to disclosure filings — from a dozen in the fourth quarter of 2017 to 33 in the final quarter of 2018.”

Visa Crypto Job Offering

If you are a financial technology professional who loves cryptocurrency but still want to work for the legacy payments system, credit cards giant Visa has a job offer for you. The company is looking for a technical product manager on the Visa Crypto team based out of its Palo Alto offices.

In the Daily: Cryptopia Resumes Trading, US Crypto Lobbying Intensifies, Visa Crypto Job

The online wanted ad, which was posted earlier this month, provides another look into what Visa wants to do in the cryptocurrency segment. It explains that the potential product manager will have to possess significant functional knowledge of the cryptocurrency ecosystem and players involved, “including in-depth knowledge around permissionless blockchain technology as well as a deep understanding of existing retail payment solutions.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post In the Daily: Cryptopia Resumes Trading, US Crypto Lobbying Intensifies, Visa Crypto Job appeared first on Bitcoin News.

Bitcoin News

In the Daily: UAE Needs to Keep up With Crypto, Australia to Support Local Blockchain Industry

March 18, 2019 |

In the Daily: UAE Needs to Keep up With Crypto, Australia to Support Local Industry

In this edition of The Daily we feature two countries that want to promote their positions in the cryptocurrency and blockchain world. In the UAE a top banker has stated that keeping up with crypto is crucial to become an international financial hub and in Australia the government is investing in the local industry. Additionally, Coinbase Pro is set to implement changes to trading and fees.

Also Read: Tel Aviv Court Rules Bank Can’t Close Crypto Miner’s Account

Keeping up With Crypto Is Crucial for UAE

The United Arab Emirates (UAE) Banks Federation has hosted a forum on fintech and crypto assets with the Abu Dhabi Global Market, the institution which launched a regulatory framework for cryptocurrency activities in June 2018. The forum discussed, among other related subjects, how financial regulators and banks can handle regulatory risks in working with crypto businesses.

In the Daily: UAE Needs to Keep up With Crypto, Australia to Support Local Blockchain Industry

Abdul Aziz Al-Ghurair, Chairman of the UAE Banks Federation, stated: “Given the rapid emergence of new FinTech such as cryptocurrencies and other crypto assets, it is essential that we develop frameworks and regulations that govern these technologies and developments. With aspirations to become one of the foremost international hubs for finance, we must keep up with the rapid technological changes taking place across the sector. Ensuring a robust monetary and financial market environment is critical to this, and can only be achieved by protecting consumer rights and safeguarding market integrity.”

Australian Government to Support Local Industry

The Australian government has announced the development of a national blockchain roadmap as well as $ 100,000 in funding to help the country’s blockchain industry become a global leader. The promised roadmap is said to focus on a number of policy areas including regulation, skills and capacity building, innovation, investment, and international competitiveness and collaboration. The $ 100,000 in funding will help Australian companies to showcase their service at an industry event in New York in May.

In the Daily: UAE Needs to Keep up With Crypto, Australia to Support Local Blockchain Industry

Minister for Industry, Science and Technology Karen Andrews commented: “The national strategy puts us on the front foot in exploring how government and industry can enhance the long-term development of blockchain and its uses. We will work closely with blockchain and technology experts from industry and academia to develop the strategy, as well as with CSIRO’s Data61 [the digital innovation arm of Australia’s national science agency] to incorporate findings from their forthcoming future scenarios report on blockchain.”

Coinbase Pro to Implement Trading Changes

Coinbase Pro will implement a set of changes on Friday, March 22 designed to optimize the “market health” of the platform. The changes include a new fee structure, updated order maximums, smaller order increment (‘tick’) sizes, turning off stop market orders and adding market order protection points. Both Coinbase Pro and Prime will introduce a 10 percent market protection point so any market orders that move the price in excess of that will stop executing and return a partial fill, thus helping to prevent large orders from causing more than 10 percent slippage. The company explained that these changes are designed to increase liquidity, enable better price discovery for trades, and to make price movements smoother, leading to a more efficient market.

In the Daily: UAE Needs to Keep up With Crypto, Australia to Support Local Blockchain Industry
New Coinbase Pro fees based on trailing 30-day volume

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post In the Daily: UAE Needs to Keep up With Crypto, Australia to Support Local Blockchain Industry appeared first on Bitcoin News.

Bitcoin News

In the Daily: Riotx Exchange, Monacoin Hacker, Coinflex Investors

March 17, 2019 |

In the Daily: Riotx Exchange, Monacoin Hacker, Coinflex Investors

In this edition of The Daily we cover a planned U.S. regulated cryptocurrency exchange from Riot Blockchain, the arrest of a hacker in Japan who allegedly stole 15 million yen of monacoin, and a couple of new investors in Coinflex.

Also Read: US Sanctions Moscow’s Evrofinance Bank Over Involvement With Petro

Riotx Exchange Details

Riot Blockchain, Inc. (NASDAQ: RIOT) has filed with the Securities and Exchange Commission (SEC) regarding its planned U.S.-based digital currency exchange, Riotx. The document shows that the company intends to launch trading on the exchange with bitcoin core (BTC), bitcoin cash (BCH), litecoin (LTC), and ethereum (ETH), paired with one another and also for U.S. dollars. Riot Blockchain explained it has selected these coins based on internal and external reviews, and will only include currencies for which it has full regulatory and legal authorization to list.

The upcoming exchange will be comprised of three core services and Riot intends to acquire each of these by engaging third party vendors. Banking services will be provided by Synapse Financial Technologies, Inc. (Synapsefi); a trading engine will be provided by Shift Markets; and a provider of digital wallet services is still unannounced. The company anticipates launching its Riotx digital currency exchange by the end of the second quarter of 2019.

In the Daily: Riotx Exchange, Monacoin Hacker, Coinflex Investors

Before October 2017, Riot was a biotechnology company known as Bioptix, Inc. that specialized in the development of veterinary diagnostic tools. On October 4, 2017 Bioptix announced it was changing its name to Riot Blockchain and shifting its business focus to investing in blockchain technologies. In February 2018 it was hit with a class action lawsuit in the Southern District of Florida related to the move.

Monacoin Hacker Arrested

According to media reports from Japan, police forces have caught an 18-year-old man who allegedly stole a total of 15 million yen (about $ 134.5K) worth of monacoin. The young hacker is accused of committing fraud using computers, among other allegations. He reportedly took advantage of vulnerabilities in an online wallet called Monappy to steal the funds of about 7,700 people. Mona is a cryptocurrency based on a cat meme popular in Japan that was created as a fork of litecoin.

In the Daily: Riotx Exchange, Monacoin Hacker, Coinflex Investors

According to Japanese police, this is the first time a crypto hacker has been exposed in the country. This is despite the fact that he used Tor to hide his online identity and stored the stolen coins in an anonymous exchange abroad. The police claims to have identified him by analyzing blockchain transaction records.

New Coinflex Investors

Coinflex, a physically delivered crypto futures exchange, has announced the addition of investment firm Digital Currency Group and blockchain investment company Polychain Capital to its lineup of investors. Olaf Carson-Wee, CEO of Polychain, commented, “As a physically-settled futures exchange, Coinflex will be well positioned to capture significant order flow from speculators, institutional traders and Proof of Work miners seeking to hedge against crypto price volatility and hash rate volatility.”

The exchange also announced the creation of its own token, called flex coin, to encourage liquidity and reward members who trade on the platform. This is a practice that has spread among exchanges, with the seventh most valuable crypto asset by market cap in the world today – Binance coin – one such exchange token.

In the Daily: Riotx Exchange, Monacoin Hacker, Coinflex Investors

Based in Hong Kong and incorporated in the Republic of Seychelles, Coinflex is owned by a consortium that includes Trading Technologies International Inc., crypto trader Mike Komaransky, and Dragonfly Capital Partners. Market markers B2C2, Global Advisors, Alameda Research, Amber AI, Grapefruit Trading, Coinfloor and its subsidiary companies also have partial ownership of Coinflex.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


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In the Daily: $4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return

March 16, 2019 |

In the Daily: $  4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return

In the first weekend despatch of The Daily, we share some of the exuberance that’s greeted BTC passing the symbolic $ 4K threshold. We also check up on how the Grin developer fund is going and the progress that Cryptopia exchange is making in returning to full strength in the wake of its hack.

Also read: Jeff Garzik Subpoenaed in Kleiman Bitcoin Lawsuit Against Craig Wright

Traders Bullish as Bitcoin Passes $ 4K and BCH Soars

Having flirted with the price point for a few days, BTC finally mustered up the courage to ease into $ 4,000 territory early on March 16. Crypto twitter had a lot to say about this miniature milestone, which marked BTC’s first return to high ground since Feb 24. “Crypto Thies” proclaimed there to be a three-week buy signal, the first since October 2016, when BTC was at $ 500.

In the Daily: $  4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return
BCH 24-hour chart.

Not everyone was getting carried away with BTC’s latest price point, given its previous failures to hold this position. Nevertheless, given the major moves from scores of altcoins over the past fortnight, coupled with BTC’s more modest overnight gains, there’s confidence clearly returning to the crypto markets. BCH has been the best performing top 10 coin over the last 24 hours, however, climbing 15 percent to reach $ 155.

Poloniex Makes First Grin Donation

In addition to enabling grin withdrawals, Poloniex has announced that it’s made good on its previous pledge to support the Grin developer fund. 50 percent of trading fees from the first month were committed to the Grin General Fund, followed by 25 percent for the next 11 months. Poloniex elected to do so on the basis that “we believe in supporting crypto projects which encourage distributed voluntary development and fair, decentralized methods of token distribution.” The first donation has seen 1.27864 BTC go to the Grin fund to support further development of the Mimblewimble privacy coin.

In the Daily: $  4K Bitcoin, Grin Fund Grows, Cryptopia Wallets Return
Cryptopia’s coin info page

Cryptopia Inches Closer to Full Service

Cryptopia has updated its customers on the progress it’s making in restoring hundreds of altcoin wallets. Since suffering a major hack in January that claimed close to 10 percent of its crypto, the New Zealand-based platform has been slowly but steadily getting back on track. It’s now established a coin info page, displaying the status of the altcoins whose wallets it’s restoring. Traders will be relieved to learn that animecoin is now active, though they’ll need to wait a little longer to deposit and withdraw asiacoin. The exchange also took the time out to reflect on the local Christchurch shooting.

What are your thoughts on the stories in today’s news roundup? Let us know in the comments section below.


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