The top news in the last 24 hours are shown below:
Binance Launches Testnet of Decentralized Exchange
The world’s largest cryptocurrency exchange, Binance announced the launch of Binance DEX testnet. Binance DEX is said to be secure and scalable – with a block interval of one second. User account registration is now open. Testnet went live on Wednesday morning, 20 February 2019.
Japan’s Second Largest Bank Completes Blockchain Trial On R3 Platform
A successful proof-of-concept (PoC) has been completed by Sumitomo Mitsui Banking Corporation (SMBC), Japan’s second-largest bank by assets, as performed on an R3 platform. The platform in question is the Marco Polo trade finance platform, and the completion was announced via a press release. SMBC is the only Japanese bank member of the Marco Polo consortium and completed the proof of concept in partnership with Mitsui and Co, which aims to increase productivity in trade operations through the use of modules such as receivable finance and payment commitment.
Japan Regulatory Authority Publicly Warns an Overseas Crypto Exchange
SB 101, a Gibraltar headquartered exchange, was issued a public warning by Japan’s Financial Services Authority (FSA) for being unregistered and for being noncompliant with FSA regulations. The regulatory agency in private first warned the exchange, but it has failed to satisfy the regulators with its response.
Samsung Reveals That Galaxy S10 Will Ship With Private Cryptocurrency Key Storage
Samsung formally unveiled its latest sleeve of smartphone devices yesterday, on February 20th. Perhaps the most anticipated ones were the Samsung Galaxy S10 and the Samsung Galaxy S10 Plus, but Samsung also revealed a lower-priced Samsung Galaxy S10e and even a foldable device, set to be released this April. However, whereas the general public will swoon over the S10s’ new cameras, ”O Infinity” displays or ultrasonic in-screen fingerprint sensors, the cryptocurrency community will likely be more intrigued by confirmed hardware support for private cryptocurrency key storage. This feature now comes as a natural part of Samsung’s ”One UI” and is integrated with Samsung’s ”defence-grade” Samsung Knox security software. Furthermore, the dedicated secure storage function is also reportedly supported by secure hardware.
FBI Wants Help from Victims in Investigating $2.5 Billion Bitconnect Scandal
The FBI is now openly seeking information regarding the controversial Bitconnect scheme from the $2.5 billion cryptocurrency Ponzi scheme’s victims. It would appear the US government is hoping its victims may bring some of those responsible to justice. It has now been more than a year since the Bitconnect scheme came to a grinding halt. However, it will likely take several years until the Bitconnect debacle has been entirely settled – if it ever is. Nevertheless, the FBI appears to be doing its part, as it is now openly gathering information and taking applications from victims through its website. Moreover, the FBI will reportedly reach out to those deemed sufficiently interesting to assist with the investigation.
Cryptocurrency Exchange Exmo Opens Branch in Turkey
Digital asset exchange Exmo, a leading crypto trading platform in Eastern Europe, has recently registered a subsidiary in Turkey. The company is setting up an office in Istanbul, the financial capital of the country situated on the Bosphorus.
Big Banks Money Laundering: UBS Fined $4.2 Billion, Danske Shuts Down in 4 Countries
Money laundering scandals involving some of the world’s largest banks have grown this week. Switzerland’s largest bank, UBS, has been fined 3.7 billion euros (~$4.2 billion) for money laundering. Amid a $226 billion scandal, Estonian authorities have ordered Denmark’s largest bank to terminate its operations in the country. Danske Bank is also shutting down in three other countries including Russia.
Irish Auctioneer to Sell off 315 BTC Seized by Belgian Police
Irish auctioneer Wilsons Auctions is to sell off 315 bitcoins seized by the Belgian government in a drug trafficking case that involved the darknet. The 24-hour online auction will start at noon on Feb. 28.
Aboveboard Founder Claims ‘Nobody Is Buying’ STOs
Andy Singleton, the founder of securities exchanges Aboveboard, has published an article asserting that the security token offering (STO) market is “lifeless.” While Singleton acknowledges the efficiency savings facilitated by the introduction of distributed ledger technology to the securities industry, he argues that current offerings are plagued by poor liquidity and inadequate disclosure, resulting in very little demand from investors.
Google Introduces New Bitcoin Keyboard Currency Symbol
In what some view as a landmark move, Google developers have added the bitcoin currency symbol to the iOS keyboard. The move, by a company so successful, it’s evolved its domain name into a verb, reflects Bitcoin’s mainstream trajectory.
Quadrigacx Cold Wallet Was Stored in a Safety Deposit Box
In a 2014 appearance on the True Bromance Podcast, Gerry Cotten, the late CEO of embattled Canadian cryptocurrency exchange Quadrigacx, made comments indicating that the exchange was storing customer funds using paper wallets. Cotten also compared losing the private keys for a bitcoin wallet to “burning cash.”
Lithuania Central Bank’s Policy Update Opens the Door for Crypto Payments
The central bank of Lithuania has updated its position on cryptocurrencies and tokens issued through initial coin offerings. The regulator has revised the definition of these assets specifying the conditions under which financial institutions can operate with digital money and accept crypto payments.
Coinflex Launches Physically Delivered Cryptocurrency Futures Exchange
Coinflex has now launched its physically delivered cryptocurrency futures exchange. The new Hong Kong-based leveraged trading platform is a spin-off from one of the United Kingdom’s oldest cryptocurrency exchanges, Coinfloor.