The top news in the last 24 hours are shown below:
JPMorgan Chase Test Runs First US Bank Cryptocurrency, the ‘JPM Coin’
JPMorgan Chase & Co., the largest bank in America, unfurls the first bank-backed cryptocurrency called the ‘JPM Coin’ in a trial that will begin in a few months. The coin, created by the bank’s engineers for instantaneous settlements, will only be available for institutional clients.
More Than 30% of BTC Traffic Stems from the Veriblock Project
Over the last few weeks, a blockchain project called Veriblock whose protocol piggybacks off the Bitcoin Core (BTC) network has sparked debate. More than a quarter of BTC’s transaction numbers stem from the Veriblock system, and the project has been criticised for using the blockchain in this manner.
Court Reconsiders Ruling After SEC Proves Tokens Are Securities
After failing to convince a federal court regarding the nature of Blockvest tokens in the previous hearing, the U.S. Securities and Exchange Commission (SEC) has finally convinced the same judge that these tokens are securities. The agency alleges that the firm and its founder made several false claims regarding their token’s regulatory status.
Orca Pool Mining Operation Aims to Defend Altcoins and Forks From Attacks
Last November the Bitcoin Cash (BCH) community witnessed a hash war that resulted in a bifurcation of the main chain. The spat saw one of the first examples of the alpha miner strategy and an attempt to truly test Nakamoto consensus. About a week before the fork, a new mining operation was announced called Shark Pool aimed at explicitly attacking weaker chains. However, a new type of mining organization revealed itself on Feb. 15 called Orca Pool which seeks to protect altcoins and forks from being attacked by malicious miners.
Drug Dealer Fights to Prevent Canadian Police From Forfeiting His BTC
A Canadian online drug dealer, snared by an undercover police agent on the dark web, is pleading to be allowed to keep half of the 288 bitcoins that police seized from him as proceeds of crime. With prosecutors seeking a court order to forfeit the crypto stash, worth CAD$1.4 million (US$1.1 million), the 30-year-old dealer argues that not all of his bitcoin was used for criminal purposes.