- Today’s main news: Poloniex enforced KYC, limited accounts to $2K withdrawals. 2 Fintechs partner on new payments corridor using Ripple. May ICO raises increase month-over-month. Critical bugs found in EOS smart contract nodes. Japan bans private cryptos. Binance to expand across Africa.
- Today’s main analysis: The blockchain patent race is on. How much it costs to launch a 51% attack on proof-of-work cryptos (A MUST-READ).
- Today’s thought-provoking articles: Crypto trading will soar despite volatility. A look at Bitcoin, Ethereum bulls. Human-readable addresses will simplify crypto transactions. Will HTC’s cryptocurrency phone start a trend? Institutional interest in crypto is growing.
- Poloniex limits accounts to $2K withdrawals. Maybe the thinking is, better to be in compliance than to be shutdown.
- Cryptocurrency trading will soar even with volatility. Serious investors are more interesteed in potential gains than concerned with the risks associated with volatility. This will eventually lead to regulation that stabilizes the markets.
- The blockchain patent race is on. This is an interesting read. Blockchain patent filings are picking up pace, and they’re coming from some unexpected places.
- Bitcoin fights back, but is it too early to call it a bull market reversal? I think so.
- Is Bitcoin destined to be the Napster of crypto?
- Ripple CEO says Bitcoin influence over crypto prices is coming to an end.
- Bitcoin could be extinct by 2118. I thought this was a joke, or a typo.
- How female founders help ICO campaigns succeed.
- Zerion launches Pulse.
- Hoard wallet & trading platform launches into beta.
- SEC secures freeze over TBAR.
- How blockchain could improve election transparency.
- Monster headphone manufacturer is planning a $300 million ICO.
- Hyperledger adds 16 new members.
- TapJets adds Litecoin for payments.
- Fintechs partner using Ripple to build payments corridor from Latin America to Asia.
- Ripple, XRP make big partnership in Kuwait, India.
- Bitcoin, Ethereum price prediction.
- How much it costs to launch a 51% attack on PoW cryptocurrencies. This has some surprising numbers in it, a must-read.
- Institutional interest in crypto is growing. And when it grows big enough, we’ll see a big splash.
- May breaks down trend in monthly ICO raises. Are investors growing confident again?
- Human-readable addresses will simplify cryptocurrency transactions. This would be a good thing, and could go a long way to getting the average Joe on board with cryptocurrencies, but only if security can be maintained or even enhanced over current security protocols.
- Over $600 billion in crypto was traded in May.
- QUOINE builds on Salesforce.
- Roger Ver predicts Ethereum to upstage Bitcoin by end of year.
- Layer 2 blockchain is a big deal.
- Blockchain projects predicted to be shelved after 2018. This is a come-on for a report they want you to buy.
- Blockparty uses blockchain for global event ticketing.
- Coinbase one of the top 7 fintech companies. Interesting list that also includes Robinhood.
- Binance supplements THETA with an upsurge.
- ABBC Foundation to give out 100ABBC to downloaders.
- BitBay to move to Malta.
- Could crypto stabilization lead to global financial crisis? This is a stretch.
- Prague subway gets 10 new Bitcoin ATMs.
- Portugal rolls out crypto tax guidelines.
- BDAQ token exchange set to launch May 31.
- Bank of England says central bank digital currency could strengthen monetary policy.
- UK Financial Ombudsman hears from customers on crypto losses.
- Crealogix integrates crypto assets into digital banking hub.
- HTC’s crypto phone could start a trend. I think it will, and within five years crypto phones will be as popular as hard wallets. Someday, everyone could have one. They’ll be as standard as cameras on smartphones.
- China is warming up to Bitcoin.
- China’s president says blockchain is breakthrough tech.
- Hong Kong rules out central bank digital currency.
- Critical bugs found in EOS smart contract nodes.
- Japan bans private cryptocurrencies.
- Korea seizes $1.4 million in Bitcoin.
- South Korea wants to restore domestic ICO industry.
- Unocoin launches UNODAX crypto exchange for trading multiple assets.
- Indian telecoms watchdog to use blockchain on nuisance calls.
- United States
- Poloniex Enforced KYC and Limited Accounts to $ 2,000 Withdrawals (Blokt), Rated: AAA
- Cryptocurrency Trading Will Soar Despite Sector Volatility (Investor Place), Rated: AAA
- Bitcoin Fights Back, But Too Early to Call Bull Reversal (CoinDesk), Rated: A
- Bitcoin could become the Napster of digital currency – Ripple CEO (My Broadband), Rated: A
- Bitcoin’s influence over cryptocurrency prices could end soon, says Ripple CEO (CNBC), Rated: B
- Bitcoin could be extinct by 2118: Yale’s Robert Shiller (CNBC), Rated: B
- How Female Founders Help ICO Campaigns Succeed (Forbes), Rated: A
- Zerion launches Pulse platform to help manage crypto investments (Leaprate), Rated: A
- Hoard Cryptocurrency Wallet & Trading Platform Announces Beta Launch (Bitcoin Exchange Guide), Rated: A
- SEC Secures Freeze Order Over TBAR Digital Currency (JD Supra), Rated: A
- Blockchain Patent Race Is on, but Hurdles Await (Big Law Business), Rated: AAA
- How blockchain could improve election transparency (Brookings.edu), Rated: A
- Headphones Maker Monster Is Quietly Planning A $ 300 Million ICO (CoinDesk), Rated: B
- Hyperledger Grows by 16 New Members (Longview News-Journal), Rated: B
- TapJets Inc Adds Litecoin as New Payment Option (PR Newswire), Rated: B
- Two FinTech companies partner up using Ripple! (AMBCrypto), Rated: AAA
- Ripple and XRP making huge partnerships in Kuwait and India (Crypto Globalist), Rated: A
- Bitcoin & Ethereum price prediction: bulls reacting but getting no reward (FXStreet), Rated: AAA
- Here’s how much it costs to launch a 51% attack on PoW cryptocurrencies (The Next Web), Rated: AAA
- Institutional Interest in Cryptocurrencies is Growing (Crypto-News.net), Rated: AAA
- May Breaks 2018’s Down-Trend in Monthly Total Raised by ICOs (Bitcoin.com), Rated: AAA
- ‘Human Readable Addresses’ Will Simplify Sending Cryptocurrency Transactions In The Blockchain (Forbes), Rated: AAA
- QUOINE Builds its Cryptocurrency Business on Salesforce (PR Newswire), Rated: A
- ROGER VER ON ‘THE FLIPPENING’: ETHEREUM WILL UPSTAGE BITCOIN BEFORE THE END OF 2018 (Bitcoinist), Rated: A
- ‘Layer 2’ Blockchain Tech Is an Even Bigger Deal Than You Think (CoinDesk), Rated: A
- Blockchain Technology Projects Will Be Shelved from 2018 (EBN Online), Rated: A
- Blockparty bring Blockchain to Event Ticketing (Coin Journal), Rated: A
- 7 most innovative Fintech companies right now (Forex News Now), Rated: B
- European Union
- Binance supplements Theta Token [THETA] which upsurges by 32% (BCFocus), Rated: AAA
- ABBC Foundation will give out 100ABBC to people who download their Multi Crypto wallet between 15th June to 14th July (Crypto-News.net), Rated: A
- Over $ 600 Billion in Cryptocurrencies Traded in May (24/7 Wall St.), Rated: A
- BitBay: Poland’s Largest Cryptocurrency Exchange Announces Move To Malta (Ethereum World News), Rated: A
- STABILIZING CRYPTOCURRENCIES COULD CAUSE NEW FINANCIAL CRISIS: DUTCH ECONOMIC OFFICE (NLTimes.nl), Rated: A
- Prague Subway Gets 10 New Bitcoin ATMs (Bitcoin Magazine), Rated: A
- Portugal’s taxman publishes guidelines for cryptocurrency taxes (CoinGeek), Rated: A
- BDAQ TOKEN EXCHANGE SET TO LAUNCH 31ST MAY (Irish Tech News), Rated: B
- United Kingdom
- BoE: Central Bank Digital Currency May ‘Strengthen’ Monetary Policy (NewsBTC), Rated: AAA
- UK Financial Ombudsman Service hears from customers losing money due to cryptocurrencies (Finance Feeds), Rated: A
- Crealogix integrates crypto assets into digital banking hub (Finextra), Rated: B
- China/Hong Kong
- How HTC’s Smartphone For Cryptocurrency Trading Could Lead A Bigger Market Trend (Forbes), Rated: AAA
- China Is Warming Up To Bitcoin Again (Forbes), Rated: A
- Chinese President Xi Jinping calls blockchain a ‘breakthrough’ technology (CNBC), Rated: A
- Hong Kong Official Rules Out Plan for Central Bank Digital Currency (CoinDesk), Rated: B
- Crypterium Undergoing Beta Testing In Australia (Global Coin Report), Rated: AAA
- EOS Under Threat – Critical Bugs Found In Smart Contract Nodes (hot Stocked), Rated: AAA
- Japan’s FSA Bans Private Cryptocurrencies (Investopedia), Rated: AAA
- Korea Seizes Bitcoin Worth $ 1.4 Million Following Supreme Court Ruling (CoinDesk), Rated: A
- South Korea’s National Assembly Wants to Restore the Domestic ICO Industry (The Merkle), Rated: A
- UNODAX Cryptocurrency Exchange Launched by Unocoin For Trading Multiple Assets (Bitcoin Exchange Guide), Rated: A
- Indian Telecoms Watchdog to Combat Nuisance Calls with Blockchain (CoinDesk), Rated: A
- Binance Looking to Expand Across Africa, including Kenya, Says CEO, ChangPeng Zhao (BitcoinKE), Rated: AAA
- Latin America
- Brazil Has Gone Crypto Crazy, Investor Numbers Surge (NewsBTC), Rated: AAA
- Caddle Partners With DigitalBits After Surveying Canada’s Interest in Digital Currency Rewards (Coinsquare), Rated: A
- Graph Blockchain Receives First Payment From IBM (Globe Newswire), Rated: B
Poloniex Enforced KYC and Limited Accounts to $ 2,000 Withdrawals (Blokt), Rated: AAA
Poloniex has recently started blocking accounts which have not complied with their new KYC policies.
Currently, Poloniex is blocking access to legacy accounts who haven’t been verified yet. During the 7-day period in which users are required to comply, access to their account is limited, and daily withdrawals can’t go over $2,000. Once the verification process is completed, users are able to withdraw up to $25 thousand per day.
Cryptocurrency Trading Will Soar Despite Sector Volatility (Investor Place), Rated: AAA
This wasn’t the way Coinbase intended to increase its transparency. Nevertheless, in response to the New York State Attorney General’s request for information, the cryptocurrency trading platform acquiesced. Sending data relevant to investor risk assessment, Coinbase publicly revealed one curious detail: it’s been revamping for an avalanche in trading volume.
In 2014, bitcoin’s total trading volume summed up to $9.16 billion. A year later, it enjoyed a healthy 35% lift to nearly $12.4 billion. In 2016, things got moving when total volume measured $31.4 billion in value.
Bitcoin Fights Back, But Too Early to Call Bull Reversal (CoinDesk), Rated: A
Bitcoin’s (BTC) bulls have staged a defense after nearly a month of losses, but a short-term bullish trend reversal is not yet confirmed, the technical charts indicate.
As of writing, the cryptocurrency is up 5 percent at $7,487 on Bitfinex, having clocked a four-day high of $7,560 earlier today.
Bitcoin could become the Napster of digital currency – Ripple CEO (My Broadband), Rated: A
Speaking at the 2018 Code Conference in California, Garlinghouse said Bitcoin could become the “Napster of digital currency”.
“Napster showed us what’s possible, but in the end, it was Spotify and iTunes and Pandora that won the day because they engaged with regulators,” he said.
Cryptocurrency prices have been highly correlated with bitcoin, the first and most famous out of thousands that exist. But that could end soon as markets start to acknowledge the differences between these assets, according to Ripple CEO Brad Garlinghouse.
“There’s a very high correlation between the price of XRP and the price of bitcoin, but ultimately these are independent open-sourced technologies,” Garlinghouse told CNBC’s “Power Lunch” Wednesday. “It’s early, over time you’ll see a more rational market and behaviors that reflect that.”
Bitcoin could be extinct by 2118: Yale’s Robert Shiller (CNBC), Rated: B
Nobel Prize-winning economist Robert Shiller is drawing parallels between the world’s leading cryptocurrency and the dinosaurs.
According to the Yale professor, bitcoin could go extinct within the next 100 years.
How Female Founders Help ICO Campaigns Succeed (Forbes), Rated: A
In an ICO campaign, a portion of the cryptocurrency is sold to early backers of the company in exchange for legal tender or other cryptocurrencies, usually Bitcoin. Interestingly, and perhaps not surprisingly to me, Cole — a women — was the first person people met with to learn about the Adbank and build credibility for the company. As one of Marketing Magazine’s Top 30 Under 30 Smartest Young Thinkers in Marketing, Cole knows how to tell a story and build a brand.
Zerion launches Pulse platform to help manage crypto investments (Leaprate), Rated: A
Zerion, the fintech company connecting investors and blockchain companies to facilitate successful tokenization, has announced that it launched Zerion Pulse to provide users with a seamless and secure platform to track and manage crypto funds. Zerion Pulse is the all-in-one portal for managing blockchain-based investments with automated portfolio analytics for Ethereum and Bitcoin wallets.
Hoard Cryptocurrency Wallet & Trading Platform Announces Beta Launch (Bitcoin Exchange Guide), Rated: A
Hoard, a multi-currency crypto wallet offering a set of financial tools built to make cryptocurrency investing, trading, payment and storage simple, has announced its impeding beta release. In many ways, the company is aiming at being a competitor to Coinbase, as well as providing shoppers with the opportunity to make purchases using cryptos.
SEC Secures Freeze Order Over TBAR Digital Currency (JD Supra), Rated: A
All things virtual currency or crypto continue to draw significant investor interest. The SEC’s most recent case in this area combines many of the elements of earlier actions as well as those on the “Howeycoin” website recently created by the agency to warn investors – an ICO, white papers, relationships with well known companies and even the Federal Reserve, endorsements and intellectual property. None of it was true. Nevertheless, $21 million in investor cash was raised in a few weeks in the U.S. and abroad. SEC v. Titanium Blockchain Infrastructure Services, Civil Action No. CV18-4315 (C.D. Cal. Unsealed May 29, 2018).
Named as defendants are two firms and the owner, Michael Stollery. The firms are Titanium Blockchain Infrastructure Services, Inc. or TBIS and EHI Internetwork and Systems Management, Inc. or EHI.
Blockchain Patent Race Is on, but Hurdles Await (Big Law Business), Rated: AAA
A wide array of corporations, including Alphabet Inc.’s Google and Bank of America, are lining up to enter a potentially lucrative club: one that allows them to own patents on blockchain technology.
But getting past the patent office’s velvet rope won’t be easy.
Bank of America has been granted at least two patents and submitted at least 29 applications since 2014, Bloomberg Law data show.
The patent office may have seen the largest number of blockchain-related applications last year, with at least 255 applications and 19 grants, Bloomberg Law data show. In 2015, at least 143 blockchain-related applications were filed, but the office issued only 21 patents, the data show.
The U.S. Supreme Court ruled in Alice Corp. v. CLS Bank Int’l in 2014 that software applications covering abstract and non-inventive ideas can’t be patented under existing law. Since then, the patent office has stringently applied the high court’s decision, making it difficult for software-related patent applications to pass the patent eligibility test.
How blockchain could improve election transparency (Brookings.edu), Rated: A
The use of blockchain in the public sector reached another milestone this month when West Virginia became the first U.S. state to allow internet voting by blockchain in primary elections. While the voter participation through this platform was estimated to be small, the intention of the administrators was to test the technology in a pilot project with no immediate plans to implement it at a larger scale.
Mobile voting using a safe and tested interface could eliminate voter fraud and boost turnout. It will make it more convenient for citizens to vote while abroad, irrespective of the distance and time. It is also a beneficial tool for the election commission to maintain transparency in the electoral process, minimize the cost of conducting elections, streamline the process of counting votes and ensure that all votes are counted.
Headphones Maker Monster Is Quietly Planning A $ 300 Million ICO (CoinDesk), Rated: B
Monster Products, Inc. has been losing money for years, but a $300 million initial coin offering (ICO) may be what it takes to turn the company around.
Hyperledger Grows by 16 New Members (Longview News-Journal), Rated: B
Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies, announced today 16 organizations joined the project, bringing the total number of new members in 2018 to 67. A global collaboration hosted by The Linux Foundation, Hyperledger now includes more than 235 organizations.
TapJets Inc Adds Litecoin as New Payment Option (PR Newswire), Rated: B
TapJets, the private jet instant booking platform, has added Litecoin ($LTC) as an approved form of payment, giving customers yet another instant payment option to augment traditional credit card payments and bank transfers. This new offering allows TapJets’ customers to instantly book private flights from their smartphones and head to the airport while the blockchain transaction is completed in the background.
Two FinTech companies partner up using Ripple! (AMBCrypto), Rated: AAA
InstaReM, a Singapore-based Fintech company, and BeeTech, an FX provider providing services in Latin America, have partnered up using Ripple. They aim to open a new payments corridor between South East Asia and Latin America.
Ripple and XRP making huge partnerships in Kuwait and India (Crypto Globalist), Rated: A
Ripple and the National Bank of Kuwait announced a partnership this Tuesday that will see the leading Kuwait bank adopt the use of xCurrent by joining RippleNET.
One of India’s largest cryptocurrency exchange, Coinome has finally listed XRP/INR and XRP/BTC pairs to its growing list of cryptocurrencies trading.
Bitcoin & Ethereum price prediction: bulls reacting but getting no reward (FXStreet), Rated: AAA
Cryptocurrencies bounced back yesterday, reaching key levels but with different results. Bitcoin re-conquered $7400 while Ethereum got stuck just below an important trend-line that is pushing the price back below $570.
Cryptocurrencies bounced back yesterday, reaching key levels but with different results. Bitcoin re-conquered $7400 while Ethereum got stuck just below an important trend-line that is pushing the price back below $570.
Here’s how much it costs to launch a 51% attack on PoW cryptocurrencies (The Next Web), Rated: AAA
Repeated 51 percent attacks on proof-of-work (PoW) cryptocurrencies have triggered a critical dialogue about the security of blockchain networks. Last week, a researcher showed that a cryptocurrency worth $2 billion can be hacked profitably with as little as $1.5 million. One cryptocurrency enthusiast decided to take a deeper dive.
The results are startling. As per the website calculations, it will only take $2,990 to keep an attack going on Bitcoin Gold for one hour, $2,216 on Ethereum Classic, $1,124 on Bytecoin, and $3,345 on ZClassic. For lesser known cryptocurrencies, the number ranges between $1-$500.
Institutional Interest in Cryptocurrencies is Growing (Crypto-News.net), Rated: AAA
The institutional acceptance of cryptocurrencies also brought attention to another problem – custody of assets. Although Xapo already safeguards more than $10 billion worth of bitcoin, institutions prefer more refined, more easily governed solutions. This is why there isn’t any official “qualified” custodian elected so far. There is, however, a new blockchain technology-based project intended to perform custodial duties of crypto assets. It is named Komainu and was launched with the merge of Nomura, Ledger and Global Advisors.
According to coinmarketcap Coinbase traded a volume of $330 million in the first 24 hours. These actions mirror the base of institutional investors on global financial exchanges, which use superior algorithms and ultrafast computers to execute money transactions in fraction of a second, thus stepping up shoulder to shoulder with the biggest international fiat traders.
May Breaks 2018’s Down-Trend in Monthly Total Raised by ICOs (Bitcoin.com), Rated: AAA
According to icodata.io, the total sum raised by ICOs in May has exceeded that which was raised in April – comprising the first instance in which month-over-month gain total for the funds raised through initial coin offerings has increased this year.
As of this writing, icodata.io estimates that ICOs have raised approximately $715 million USD during May – a more than 27% increase over April’s total of roughly $516 million.
‘Human Readable Addresses’ Will Simplify Sending Cryptocurrency Transactions In The Blockchain (Forbes), Rated: AAA
BlockCAT conducted a survey that quizzed cryptocurrency users on the level of anxiety they experience when sending crypto transactions. Results show that 94% of respondents worry about making a mistake when sending cryptocurrencies and 11% have actually sent crypto to the wrong address.
Wrong-address transaction errors occur as a result of cryptocurrency addresses being represented by a long string of letters and numbers. If users don’t check the details several times while typing in their address, there is a chance that all of a users tokens will be sent to the wrong recipient.
The Solution: ‘A Human Readable Value Address’
In order to solve the problem of wrong address transaction errors, IOV has created a blockchain name service (BNS) application, which is a DNS-like system for blockchains. According to an IOV blog post, this is the first global decentralized blockchain address registry. One of the main benefits of BNS is that it allows a user to take their public key and register a human readable value address.
Alternatively, a human readable address would resemble something like this: isabella*iov.value, which is much easier to remember and share.
QUOINE Builds its Cryptocurrency Business on Salesforce (PR Newswire), Rated: A
Salesforce today announced that QUOINE—one of the fastest growing innovators in the world of cryptocurrency, built on the Salesforce Platform—has made an additional investment with Salesforce to grow and scale its business globally.
ROGER VER ON ‘THE FLIPPENING’: ETHEREUM WILL UPSTAGE BITCOIN BEFORE THE END OF 2018 (Bitcoinist), Rated: A
Roger Ver believes Bitcoin’s days at the top of the crypto tree are numbered. In an interviewwith The Independent, the former Bitcoin evangelist said that other cryptocurrencies were more technologically advanced than Bitcoin. He identified Ethereum and Bitcoin Cash as the harbingers of the coming flippening.
‘Layer 2’ Blockchain Tech Is an Even Bigger Deal Than You Think (CoinDesk), Rated: A
We are now entering an exciting new phase of blockchain development in which the lightning network and other programming solutions that operate “on top” of existing blockchains promise big strides in scalability, interoperability and functionality.
Blockchain Technology Projects Will Be Shelved from 2018 (EBN Online), Rated: A
The hype surrounding blockchain technology will recede sharply in 2018 as the cost and complexity of implementing blockchain solutions becomes apparent says GlobalData, a leading data and analytics company. Many of the early blockchain projects will either be quietly shelved in favour of more traditional approaches or they will evolve in a way which reduces their dependence on blockchain technology.
Blockparty bring Blockchain to Event Ticketing (Coin Journal), Rated: A
Blockparty, a company specialising in Blockchain-based live event ticketing announced the launch of its new global ticketing system. The company aims to use its system to resolve the most prevalent issues which impact the event-ticketing industry.
7 most innovative Fintech companies right now (Forex News Now), Rated: B
Valued at $5.6 billion, Robinhood trading offers its customers a mobile wallet that allows trading shares and exchange-traded funds without paying commissions.
Coinbase is one of the most popular cryptocurrency exchanges. The company also owns GDAX, which offers investors a more professional trading platform. As of November 2017, Coinbase has over 13 million users and makes more than $1 billion in revenue a year.
Binance supplements Theta Token [THETA] which upsurges by 32% (BCFocus), Rated: AAA
However, throughout the week, the trading value of the Theta token [THETA] has been around $0.17. Following the announcement, the value took a leap and hovered around $0.24. It is, indeed, on 30th May for the first time that the value of Theta token could go beyond the $0.20 threshold. The current ranking of Theta coin in the last 24 hours is 91st which has experienced 32% upsurge. The present market cap is $155 million with the trading value $0.24.
ABBC Foundation will give out 100ABBC to people who download their Multi Crypto wallet between 15th June to 14th July (Crypto-News.net), Rated: A
ABBC Foundation has announced that their multi crypto HD wallet will be launching on 15th June which will last for almost a month. To commemorate this historic event, they will be giving away 100 ABBC coins to first 500,000 users who download the wallet from 15th June to 14th July.
Over $ 600 Billion in Cryptocurrencies Traded in May (24/7 Wall St.), Rated: A
Cryptocurrency exchange tracker CoinMarketCap reported Wednesday that more than $606 billion in 1,633 different cryptocurrencies changed hands in May. The total is less than half the $1.4 trillion in more than 1,500 cryptocurrencies traded in April.
The top four exchanges today and their 24-hour trading volumes all top $1 billion:
- BitMEX: $2.49 billion
- Binance: $1.56 billion
- OKEx: $1.48 billion
- Huobi: $1.13 billion
Here are 2016’s top three exchanges, along with daily volume:
- Okcoin.cn: $440.53 million
- BtcTrade: $218.94 million
- Huobi: $165.25 million
As of yesterday, Okcoin.cn ranked 188th, BtcTrade ranked 54th and Huobi ranked fourth. Two of 2016’s top exchanges are defunct.
BitBay: Poland’s Largest Cryptocurrency Exchange Announces Move To Malta (Ethereum World News), Rated: A
Poland’s largest cryptocurrency exchange platform, BitBayannounced on May 29 that it would cease operations in the country in favor of a move to Malta.
According to BitBay, banks in the country refused to offer their services. As a result, the platform is forced to move its business elsewhere to continue servicing its customer base.
STABILIZING CRYPTOCURRENCIES COULD CAUSE NEW FINANCIAL CRISIS: DUTCH ECONOMIC OFFICE (NLTimes.nl), Rated: A
By now everyone is aware of the risks involved in investing in cryptocurrencies with their wildly fluctuating prices. But the real risks may only appear should cryptocurrencies’ prices start stabilizing, according to the Netherlands office for economic policy analysis CPB. In the worst case scenario, this could lead to another global financial crisis, the CPB wrote in its annual report on the risks for the financial markets, RTL Z reports.
Prague Subway Gets 10 New Bitcoin ATMs (Bitcoin Magazine), Rated: A
GENERAL BYTES, a Prague-based bitcoin ATM manufacturer, has installed 10 new cryptocurrency ATMs throughout the Prague subway. With this latest move, commuters using the busy Prague Metro can buy and sell virtual currencies on the go. One of the busiest metros in Europe, over 1.2 million people pass through the Prague subway daily.
Portugal’s taxman publishes guidelines for cryptocurrency taxes (CoinGeek), Rated: A
The Portuguese Tax Authority (PTA) has done what only a few other countries have done. It has created a framework that defines a handful of taxes for cryptocurrencies, helping to provide a great amount of clarity on the murky subject. The push for the guidelines came from an unidentified company, possibly in the utility sector, which was looking to launch an initial coin offering (ICO) and a token built on top of Ethereum network.
The PTA announced (in Portuguese) that transactions that contain a token could, in principle, be considered as a critical transfer of goods. To that end, the tokens should have VAT liability. However, the PTA also acknowledged that the digital coins could be eligible for the legal tender VAT exemption.
BDAQ TOKEN EXCHANGE SET TO LAUNCH 31ST MAY (Irish Tech News), Rated: B
Bdaq is the world’s first platform for trading crypto tokens even before they get on exchanges. We provided our investors with equal opportunity so that everyone gets access to ICO tokens, instant liquidity without any delay, so they can sell their tokens as soon as they can buy them.
BoE: Central Bank Digital Currency May ‘Strengthen’ Monetary Policy (NewsBTC), Rated: AAA
The BoE has been researching how a central bank digital currency (CBDC) would work in practice. It authored a research paper which claimed an important ‘step forward’ in the design of a currency. Accordingly, it stated that it would not leave commercial bank vulnerable — a not unwarranted fear, as many in the crypto space believe that digital currencies will help free people from the massive powers central banks have over consumers.
UK Financial Ombudsman Service hears from customers losing money due to cryptocurrencies (Finance Feeds), Rated: A
The UK Financial Ombudsman Service (FOS) has earlier today published its Annual Review 2017/18, highlighting some new themes and issues raised by UK investors. Cryptocurrencies, as one might expect, are among such issues.
Put briefly, cryptocurrency investors are left unprotected, especially when the losses are related to price volatility.
Crealogix integrates crypto assets into digital banking hub (Finextra), Rated: B
Digital banking innovator CREALOGIX today announced the launch of CREALOGIX Invest Crypto which adds cryptocurrency and blockchain market data to its CREALOGIX Digital Banking Hub.
How HTC’s Smartphone For Cryptocurrency Trading Could Lead A Bigger Market Trend (Forbes), Rated: AAA
Taiwan-based HTC sees the Exodus as a handset that will let owners keep their data – likewise their cryptocurrency assets — private and secure on a device rather than in the cloud where it’s easier for nefarious outsiders to find and alter.
The Exodus will stand out as the first major name-brand model made for cryptocurrency trading and might set off a wider trend, tech analysts say.
China Is Warming Up To Bitcoin Again (Forbes), Rated: A
That’s the message of a Global Times editorial, which praises the digital currency. “There’s an increasing belief that just saying no to bitcoin won’t be the eventual solution to the cryptocurrency issue,” writes Xiao Xin, author of the editorial. “A more fundamental approach would be to embrace the new technology without putting the country’s financial system at stake.”
This approach is a signal that Beijing is getting ready to tighten regulations around the digital currency, as US, Japan and Korea have done,rather than ban it altogether.
Chinese President Xi Jinping said in a speech this week that blockchain — the technology underlying bitcoin — has “breakthrough” applications.
Hong Kong Official Rules Out Plan for Central Bank Digital Currency (CoinDesk), Rated: B
The Hong Kong Monetary Authority (HKMA), the region’s de facto central bank, currently has no plan to issue a central bank digital currency (CBDC), a high-level government official said on Wednesday.
Crypterium Undergoing Beta Testing In Australia (Global Coin Report), Rated: AAA
The Crypterium App that is now available for your mobile phone (Android for now), turns your cryptocurrencies into money that you can spend as easily as cash. When fully active, the app will allow you to shop around the globe, make online purchases, pay your bills and even send money across borders. With the app, you will be able to get a virtual card that will even enable you to link to your Apple pay, Samsung Pay or even Android pay.
It is with this background that the App is undergoing Beta testing in the country and continent of Australia.
Also to add is that the Crypterium app is gearing up for a new update in a week. This update will include the addition of the Japanese yen and additional security measures.
EOS Under Threat – Critical Bugs Found In Smart Contract Nodes (hot Stocked), Rated: AAA
Since EOS is aimed at becoming the 3.0 version of Blockchain as we know it, allowing devs to create dapps over it’s infrastructure, similar to what Ethereum does, it is regarded by many as a very secure project. But just like Ethereum, EOS seems to be meeting it’s first bus,that were discovered by the Chinese researchers at Qihoo 460 – Yuki Chen and Zhiniang Peng’s Core security team. There have been several vulnerabilities found, but the main one is a buffer out-of-bonds bug, which is basically a bug that is in the nodes server, responsible for smart contract – a bottleneck on which the whole blockchain security is dependent.
Japan’s FSA Bans Private Cryptocurrencies (Investopedia), Rated: AAA
At a time when private cryptocoins are becoming more and more popular, Japan’s Financial Security Agency (FSA) has announced that there will be an outright ban on all cryptocurrencies that provide a sufficient degree of anonymity, according to CoinDesk. The ban will come into effect on June 18, 2018, and will impact trading of a few major cryptocurrencies that offer privacy-rich features. They include Monero (XMR), Dash (DASH), Augur’s reputation token (REP), and ZCash (ZEC). All cryptocurrency exchanges operating in Japan are under the purview of the Japanese FSA.
Korea Seizes Bitcoin Worth $ 1.4 Million Following Supreme Court Ruling (CoinDesk), Rated: A
The South Korean government is moving to confiscate 191 bitcoins seized in a child-porn cybercrime case in which the perpetrator has now been sentenced to jail and a $640,000 fine.
According to Korean news agency Yonhap, the move comes after South Korea’s Supreme Court ruled on Wednesday that cryptocurrencies can be seen as property with value that can be subject to forfeiture in criminal cases.
South Korea’s National Assembly Wants to Restore the Domestic ICO Industry (The Merkle), Rated: A
The South Korean government evidently wants to ease off on cryptocurrency regulation. On Monday, it became apparent that the government will focus on making cryptocurrency trading a lot easier and more straightforward. In another development, it seems the country’s National Assembly wants to allow ICOs once again.
UNODAX Cryptocurrency Exchange Launched by Unocoin For Trading Multiple Assets (Bitcoin Exchange Guide), Rated: A
Unocoin pushed the industry even further with the addition of 15 new coins that will be available on their exchange. The project is essentially a mobile wallet, but it is used by millions of consumers that can transact with the use of bitcoin. Then Unocoin just announced the launch of a multi-crypto asset exchange platform called UNODAX, which will include the likes of popular coins BTC, ETH, LTC, XRP and more.
Indian Telecoms Watchdog to Combat Nuisance Calls with Blockchain (CoinDesk), Rated: A
India’s telecoms watchdog is planning to leverage blockchain technology to combat nuisance calls and SMS messages.
Binance Looking to Expand Across Africa, including Kenya, Says CEO, ChangPeng Zhao (BitcoinKE), Rated: AAA
Binance has already committed to setting up an exchange in Uganda and the process is ongoing. However, according to Mr. Zhao, the company is looking to go beyond Uganda and actually reach out to the rest of Africa, including Kenya.
Brazil Has Gone Crypto Crazy, Investor Numbers Surge (NewsBTC), Rated: AAA
In 2016, Brazilians moved $160 million in and out of Bitcoin. Last year, 2017, that number was up to around $2.4 billion. In relation, a year ago Foxbit had roughly 100,000 registered users. Today, the cryptocurrency exchange has more than 400,000 — out of an estimated 1.4 million that have opened accounts with them and their three main competitors over the past two years. Compare that to the roughly 600,000 who have stock brokerage accounts, it’s easy to see that Brazilians have been turning to cryptocurrencies in droves.
Caddle Partners With DigitalBits After Surveying Canada’s Interest in Digital Currency Rewards (Coinsquare), Rated: A
Announced today, Caddle, a Canadian customer engagement platform, is joining DigitalBits’ partner ecosystem. Together, the two companies hope to revitalize the world of consumer rewards, using blockchain technology as a way to better the industry.
Graph Blockchain Receives First Payment From IBM (Globe Newswire), Rated: B
Datametrex AI Limited (the “Company” or “Datametrex”) (TSXV:DM), (FSE:D4G) is pleased to announce its JV company, Graph Blockchain Limited (“GBC” or “Graph Blockchain”), received the first payment from its channel partner IBM for its electric vehicle charging stations solution with a leading electric utility provider.