BLOCKCHAIN NEWS Blockchain lobbying group established in Washington D.C. The first lobbying group voicing out concerns of the blockchain industry is set to be established in the capital of the United States, Washington D.C., by a group of blockchain and crypto-centric companies, according to a Washington Post
report on Tuesday.
Read more Ethereum blockchain to speed up insurance process for Hurricane Florence victims Hurricane Florence is getting stronger as it is edging closer to the US. A state of emergency has been announced in Virginia, Maryland, Washington DC, and North and South Carolina. During such calamities, insurance becomes a valuable asset. Etherisc, a Switzerland-based decentralized insurer, is trying to systematize the process with the help of smart contracts based on the
Ethereum blockchain.
Read more SABB becomes Saudi Arabia’s first bank to join R3’s blockchain consortium According to
reports by local news outlet Trade Arabia on September 11, the Saudi British Bank (SABB) has become the first Saudi bank to join enterprise software firm and global banking consortium R3’s
blockchainecosystem.SABB enjoys a strong presence in the Saudi financial space, having reportedly been named by Global Finance magazine as the “Best Trade Finance Bank” in Saudi Arabia for the 10th consecutive year, “Best Supply Chain Finance Bank” in the Middle East for 2018. It has also been named by Eurobank as Saudi Arabia’s “2018 Best Trade Finance Bank” for the 2nd year running.
Read more CRYPTOCURRENCY NEWS Is Bitewei the new Bitmain rival? Know all about the $20 million Bitcoin miner The China-based crypto mining giant,
Bitmain, is going through a lot lately. Bitmain was supposed to launch initial public offering (IPO) in September but the news wasn’t taken positively by all. On social media, several allegations started emerging, stating that they’re presenting a fancy outlook but lacks finances. Unfortunately, the series of reports has resulted in withdrawing of funds by investors. Now, there seems to be a new competitor & well-capitalized – Bitewei.
Read more Dogecoin [DOGE] no longer an underdog among top cryptocurrencies Once an underdog cryptocurrency, Dogecoin [DOGE] in a matter of time may come at par with the top ten digital currencies. At a time when most major virtual currencies have crashed, this particular crypto has managed to successfully resist the bearish trend. Since Monday,
Dogecoin [DOGE] managed to climb up three spots to rank as the 17th most valuable crypto, data from CoinMarketCap showed.
Read more John McAfee: Crypto ninja rises again, guarantees free CoinBene listing for coins that leave HitBTC John McAfee recently backed Apollo Currency for being the first to drop crypto exchange HitBTC. In his ongoing fight against HitBTC corruption, the major Bitcoin enthusiast struck a partnership with digital exchange CoinBene, under which coins that leave HitBTC need not worry about getting listed again.
Read more Vitalik Buterin’s statement shakes the crypto world; Binance CEO, Tron founder, Joseph Lubin disagree Ethereum co-founder
Vitalik Buterin’s recent statement regarding the future of the crypto ecosystem shook the entire crypto world. In a recent Bloomberg interview at Ethereum Industry Summit conference in Hong Kong, he said, “another 1,000-times growth” in the crypto space is not possible. However, many popular figures in the space including Binance CEO Changpeng Zhao have disagreed with Vitalik's view.
Read more OKEx founder released after being “investigated”, not “arrested” Star Xu, founder of top cryptocurrency exchange OKEx and OKCoin, has been released by the Shanghai police after he was arrested on Monday, on account of his alleged involvement with WFEE Coin. He was held for questioning on account of his role as a shareholder of the reported fraudulent scheme.
Read more Binance “experiencing some synchronization issues”, says CEO Changpeng Zhao Binance CEO Changpeng Zhao on Wednesday informed the exchange's users about the "
synchronisation issues" encountered by the trading platform. However, he assured users that the issue will be resolved shortly and is too insignificant to hinder the normal services offered by Binance.
Read more Ransomware hackers demand Bitcoins from Canadian Town Midlands, a Canadian town has succumbed to the hackers and has decided to cough up the ransom being demanded in Bitcoins.Located in Ontario Province, north of Toronto, Midlands is a quaint and quiet town with a population of just over 16,000. In the early hours of
September 1, the town’s computer network was taken hostage by the ransomware hackers.
Read more Tron partners with leading cryptocurrency multi-wallet and exchange Tron partnered with Satowallet - a leading cryptocurrency multi-wallet and exchange - for further adoption of the coin and other blockchain use cases.
Tron founder Justin Sun shared the news with the community by announcing it on Twitter.For the TRX community, this is a positive development as Satowallet is a multi-cryptocurrency wallet provider and exchange, holding more than 60 cryptocurrencies. It also provides staking ability, auto swap feature, instant trade on exchange, speed and security.
Read more Dash unveils Long Living Masternode Quorums to counter scalability issues Dash has recently unveiled
Long Living Masternode Quorums [LLMQs], a work in progress, which has been developed to address issues faced by the older quorum system. LLMQs are seen as a solution to the scalability and consensus issues faced by the earlier system, which were explained by Alexander Block - a developer working at
Dash Core Group - in an earlier blog
post. Read more Electric car drivers may soon be able use IOTA charging stations in Netherlands IOTA is making serious progress in applying its technology to real world use cases. After close to five months of testing, the first charging station for electric vehicles (EVs) where payments can be made with
IOTA [MIOTA] is getting closer to becoming a reality.
Read more Is there “no value for ETH in Ethereum as of today”? Vitalik Buterin speaks up Ethereum co-founder, Vitalik Buterin, fought back against criticism related to ETH after a reporter called it ‘intrinsically worthless’. The coin was at $190 position for the last few days but on Tuesday it slipped further down, taking ETH’s 2018’s low even lower. Currently, the coin is trading at $ 177.42, as it slid 9.5 % against the U.S. dollar. It marks a new low for
Ethereum (ETH) in 2018 for ETH/USD, and overall, a fourteen month-low.
Read more Bitcoin’s instability won’t be cured by Stablecoin: Berkley Professor Despite its stability in value and popularity among crypto-investors, the dollar-mirroring Tether (USDT) is still deeply flawed and won’t be the magic cure that everyone was hoping for, said
Professor Barry Eichengreen, an economics professor at UC Berkeley. This resounding opinion comes just a few days after
the launch of the
Gemini dollar (GUSD) by the Winklevoss twins, Cameron and Tyler Winklevoss.
Read more Overstock CEO sells $20 million worth of stock, reports suggest The CEO of
Overstock.com, Patrick Byrne has dumped 10 percent of his shares in an attempt to meet his obligations, CNBC reported on September 11. According to a
form 4 SEC filing, Patrick Byrne sold Byrne sold more roughly $15.8 million worth of stock based on last week's prices on Thursday and Friday, and $4.9 million worth on Monday.
Read more Automobile dealer Bernie Moreno now accepts Bitcoin for vehicle purchases Bernie Moreno Companies (BMC), one of America’s largest automobile dealer, is looking ahead into the future by accepting
Bitcoins as a payment for vehicle purchases and services.
"Giving clients more options is essential to great customer service. We are thrilled to be able to expand that flexibility to how our clients make payments," said BMC Founder Bernie Moreno.
Read more IMF expresses misgivings over Marshall Islands’ plan for ‘Sovereign’ cryptocurrency A qualm of disbelief was expressed by the
International Monetary Fund (IMF) regarding the plan to offer a national cryptocurrency by the Marshall Islands.According to a recent report by the IMF
“the issuance of a decentralized digital currency as a second legal tender would increase macroeconomic and financial integrity risks, and elevate the risk of losing the last U.S. dollar correspondent banking relationship.” Read more Russia’s central bank conducted ‘successful’ experimental ICO, reports suggest Russia’s central bank has revealed that the bank has recently conducted a "successful" implementation of
initial coin offering (ICO), as
cited by the Russian news agency
TASS.Ivan Semagin, deputy director of the Financial Market Development Department for the Bank of Russia, told
TASS:
“Within a framework of the central bank’s sandbox, we conducted an experimental ICO on the basis of our existing infrastructure. Technically it was a success, but we still have a lot of legal issues”. Read more U.S. SEC announces its first-ever enforcement action After having found an investment company registration violation by a hedge fund manager based on its investments in digital assets, the
US Securities and Exchange Commission (SEC) announced its first-ever enforcement action.According to the
press release, "SEC entered an order finding that Crypto Asset Management LP (CAM) had offered some fund that operated as an unregistered investment company while faking itself as the 'first regulated' crypto asset fund in the United States."
Read more U.S. securities laws apply to cryptocurrency frauds, says New York federal judge In what appears to be a landmark judgement, a New York federal judge has ruled that U.S. securities laws are applicable for prosecuting
cryptocurrency fraud allegations, according to
reports by Reuters. This decision strengthens the efforts of prosecutors who are attempting to crack down on alleged fraud in the
cryptocurrencyspace.
Read more Bank of Korea calls for surveillance of ‘Kimchi Premium’ in crypto market. Kimchi Premium, a gap in cryptocurrency prices in the South Korean exchanges compared to foreign exchanges, has been called to surveillance by the country’s central bank, Bank of Korea (BOK).BOK officials have called for relentless surveillance of the
South Korean crypto exchange market and the heightened increase in crypto premiums, mainly domestic prices rather than global prices. Bitcoin is one such coin to fall under the vigilance of BOK.
Read more UTRUST joins hands with Ethereum Classic Dev Team to support ETC payments UTRUST, a payment platform has announced that it will join hands with the
Ethereum Classic Dev Team. The company has signed a Memorandum of Understanding (MoU) with ETCDEV to integrate ETC to its platform with the support of Ethereum Classic Cooperative. ETC has been progressing well in the market and currently is one among the four coins of the top 20 coins gaining in the market amid a market crash.
Read more Philippines grants licence to PDAX crypto exchange The
Philippine Digital Asset Exchange (PDAX) have been licensed by Bangko Sentral ng Pilipinas (BSP) to exchange Philippine peso with cryptocurrencies. This exchange is the first of its kind for the Filipinos, which will trade a list of cryptos and tokens.The different cryptos mentioned in its website are Bitcoin, XRP, Ethereum, Bitcoin Cash, and Litecoin. Also, they have mentioned that two other cryptocurrencies that will be part of their list will be mentioned soon. These coins are said to be the coins in demand.
Read more Tokensoft to launch support for projects on Stellar Lumens protocol Tokensoft, a token sale platform, has announced that it will now support projects built on Stellar protocol. The ICO services platform has begun accepting Stellar as payment in token sales and issuing their tokens using the
Stellar Lumens platform.
Read more UK regulator’s official refers cryptocurrencies as financial innovation Andrew Bailey, the chief official of UK's Financial Conduct Authority has regarded cryptocurrencies as an innovation in financial domain. The official of the main regulatory body of the United Kingdom has attended on Tuesday, dated 11th September, its Annual Public Meeting. He has chosen this occasion to clarify that the risks associated with
cryptocurrencies should be reduced while fostering its advantages.
Read more Financial watchdog FINRA charges Massachusetts broker with securities fraud According to a
press release, the Financial Industry Regulatory Authority (FINRA) has charged a Massachusetts resident, Timothy Tilton Ayre with securities fraud and unlawful distribution of an unregistered sale of a
cryptocurrency called HempCoin. This is the first time that the self regulatory body has taken a stern disciplinary action against an entity related to crypto fraud.
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