The top news in the last 24 hours are shown below:
Brexit Does Not Stop Bitcoin’s Growth in the UK
Despite the tumultuous and unprecedented period of change in the UK, the value of cryptocurrency has not stopped growing. From Bitcoin to Ethereum and countless other cryptocurrencies that are now available (well over 1,000, and new ones being created all the time) the cryptocurrency market continues to grow, comparatively unhindered by current ructions in the Eurozone
Survey Shows Consumers and Investors Remain Bullish on the Future of Cryptos
It’s been a long crypto winter, but according to a recent survey, consumers and investors are still positive about the long term value of leading cryptocurrencies. Researchers from the FINRA-registered broker Sharespost emphasize that people have recently become more optimistic about digital assets and plan to increase their holdings.
Soon You Will Be Able To Store Your Cardano (ADA) Coins On a Ledger Nano S
Cardano works hard in the bear market to improve its blockchain. According to recent news, users will most likely be able to store their Cardano on ledgers devices. That is not all; the most anticipated Shelley update gets closer of launching.
Cryptocurrency Critic Nouriel Roubini Lambasts Bitcoin Holders, Calling Them ”Arrogant” and ”Absolutely Clueless”
Those keeping tabs on the cryptocurrency community will not be any strangers to cryptocurrency skeptic Nouriel Roubini. Now, Roubini has once again commented on the matter and has made many new derogatory comments regarding Bitcoin investors.
Fidelity: Bitcoin Custody Live, Institutions Coming?
Fidelity Digital Assets (FDA) has announced that its Bitcoin Custody Service is now live, offering its service to “a select group of clients.” Fidelity, the multinational financial services firm, with more than two trillion dollars’ worth of assets under its management, announced today that its bitcoin custody service had gone live. It has initially been rolled out to “a select group of clients”, which it stated through a post from its official Twitter account.
Former Bitmain Employees May Find Refuge in a Spinoff Startup Called Matrix
According to regional reports, members of Bitmain Technologies and other connected subsidiaries like Copernicus are starting an offshoot company called Matrix. It is not officially known yet just what Matrix will do, but some sources allege that the new spinoff will offer cryptocurrency lending services, an over-the-counter (OTC) desk, and custody solutions.
South Korea Establishes Special Task Force to Prevent Cryptocurrency-Related Crimes
The South Korean Supreme Prosecutors’ Office (SPO) has announced the establishment of a task force to fight cryptocurrency-related fraud and crimes. The development was reported by the Korean Broadcasting System (KBS), one of the largest national public broadcasters, in an article published on Tuesday, March 5. The new task force will be responsible for the investigation — under the SPO’s authority — of fraud, illegal money laundering, crimes, and other illegal activities within the fields of fintech and cryptocurrency.
Former Iced Tea-Turned-Bitcoin Mining Firm Sells Beverage Business
Long Blockchain, previously named Long Island Iced Tea, has reached an agreement to sell its ready-to-drink tea business to Canadian firm ECC2 Ventures. The deal is documented in a Securities and Exchange Commission (SEC) document filed on March 6. At the beginning of 2018, the company had rebranded from Long Island Iced Tea to Long Blockchain, seeing a 500 percent jump in shares, noting that it hoped to raise money to purchase Bitcoin (BTC) miners.
Thai Petroleum Company Tests Blockchain Energy Trading Platform
Thai petroleum refining firm Bangchak Corporation Public Co. Limited (BCP) is testing a blockchain-based energy trading platform and commercial microgrid, distributed energy news site Microgrid Knowledge reports on March 7. BCP is testing the new platform at a shopping mall attached to one of its fuel stations in Bangkok. The new system will purportedly combine 280.9 kW of commercial rooftop and canopy solar photovoltaics with 913 kWh of lithium-ion, nickel-manganese-cobalt oxide and 92 kWh of lithium-iron-phosphate battery energy storage capacity.
Israel Securities Authority Publishes Final Recommendations on Crypto Regulation
The Israel Securities Authority (ISA) has published its final report on cryptocurrency regulations, local financial newspaper Globes reports Thursday, March 7. A special committee formed in 2017 to develop proper regulations for cryptocurrencies has presented its report to ISA chairperson Anat Guetta. Commenting on the recommendations, Guetta said that they were designed both to strengthen the crypto sector and protect the rights of investors. She further added that the technology is “here to stay” although excitement in the industry has cooled. Globes quote the ISA:
“The committee recommends considering adjustment of the existing regulation to create more suitable regulatory infrastructure for this trading activity in order to better cope with the risks incurred in this activity.”
Kraken Expands Its Team With Five New High-Level Hires
United States-based cryptocurrency exchange Kraken is expanding its team with new high level hires, according to the company’s blog post published on March 7. In the post, Kraken announced five new appointments to its team. The new appointments will see Matt Mason as Chief Marketing Officer, Steve Hunt as Vice-President of Engineering, Nelson Minier as Head of OTC Sales and Trading, Bob Zagotta as Head of Business Operations and Strategy, and Mary Beth Buchanan as General Counsel.
French Financial Regulator Proposes Ban on Anonymous Cryptocurrencies
The head of the Finance Committee of France’s National Assembly, Eric Woerth, is suggesting a ban on anonymous cryptocurrencies, or so-called privacy coins. Woerth expressed his position in a recent report on crypto assets and blockchain technology. In a forward to the report, Woerth considers the introduction of a ban on digital currencies that provide greater anonymity to users, stating:
“It would also have been appropriate to propose a ban on the dissemination and trade in [cryptocurrencies built] to ensure complete anonymity by preventing any identification procedure by design. […] This is the case for a certain number of [cryptocurrencies] (Monero, PIVX, DeepOnion, Zcash…) whose purpose is to bypass any possibility of identifying the holders. To date, regulation has not gone that far.”
Crypto Skeptic Massachusetts Secretary Creates Fintech Advisory Group
The office of the Secretary of the Commonwealth of Massachusetts, which oversees the state’s securities regulator, has reportedly formed a fintech advisory group, banking trade publication American Banker reports on March 7. The office of Secretary William Gavin has allegedly created a group comprising representatives from Eastern Bank in Boston, a blockchain firm called Arwen, academics and legal experts, and other firms. The group will focus on developments in the fintech industry, including digital currencies. Gavin said:
“This working group includes key players from a broad spectrum of the fintech community, ranging from innovation hubs to startups to financial institutions. This collaboration will help advise securities regulators on meeting the novel demands of this rapidly growing space.”
IBM Reveals Two Further Blockchain Patents for Security And Database Management
Multinational computing giant IBM is adding to its stack of blockchain patents with two new applications, the United States Patent and Trademark Office confirmed, publishing documents on March 5. According to one patent document, IBM now seeks to target network security using blockchain technology. A second patent focuses on database management utilizing the tech.
Australia: Financial Regulator Suspends Two Crypto Exchanges in Drug Trafficking Case
The Australian anti-money laundering watchdog has suspended the registrations of two cryptocurrency exchanges in connection with a drug trafficking case; the agency announced in a press release on Friday, March 8. The Australian Transaction Reports and Analysis Centre (AUSTRAC) — a government financial intelligence agency that aims to prevent money laundering, tax evasion, welfare fraud, and terrorism — suspended the two crypto exchanges’ operations because of their association with a suspect in an alleged organized crime syndicate.
Smart Contract Firm Quantstamp Reveals Investment From Financial Giant Nomura
United States smart contract security company Quantstamp has announced its expansion to Japan following an investment from local financial giant Nomura Holdings. The news was revealed in a press release from Quantstamp published on March 6. According to the announcement, the U.S. firm has received a “significant investment” from Nomura, which provides investment, financing, and related services to individual, institutional and government customers. Venture company Digital Garage, which invests in successful internet startups across the world, reportedly also contributed to the round.
MakerDao Users Vote to Raise Stablecoin DAI’s ‘Stability Fee’ by 2%
Users of blockchain organization MakerDao (Maker) have voted to raise the so-called stability fee for Maker’s Dai (DAI) stable coin to 3.5 percent, according to the results of a recent poll, completed on March 7. MakerDao, a Decentralized Autonomous Organization (DAO) based on the Ethereum (ETH) blockchain, first opened voting on the matter to users in March. 4.
UN Panel Says North Korea Obtained $670 Million in Crypto and Fiat via Hacking: Report
North Korea has reportedly amassed $670 million in fiat and cryptocurrencies by conducting hacking attacks, Asia-focused financial newspaper Nikkei Asian Review reports on Friday, March 8. The publication cites a U.N. Security Council report. The report, prepared by a panel of experts, was presented to the Security Council’s North Korea sanctions committee ahead of its annual report. According to the documents obtained by Nikkei, the hackers attacked overseas financial institutions from 2015 to 2018 and purportedly used blockchain “to cover their tracks.”
Germany Proposes Launching State-Run Electronic Register for Blockchain Sector
Germany’s justice and finance ministries have proposed to launch a state-run register to boost the use of blockchain, Reuters reports on Friday, March 8. According to Reuters, the seven-page initial guidelines offer to create a registry to regulate the sector and protect investors from possible abuses. The document reportedly states that regulation in the sphere could contribute to the development of the technology behind cryptocurrencies, along with enhancing Germany’s position in financial markets.
Japan: Crypto Industry Trade Group JCBA Issues Guidelines for ICO Regulation
To promote domestic blockchain and cryptocurrency-related businesses, the Japan Cryptocurrency Business Association (JCBA) has published its “Recommendations on New ICO Regulation” on Friday, March 8. The recommendations on Initial Coin Offerings (ICOs) regulations issued by the JCBA — a local industry trade group — focus on three main topics: the expansion of cryptocurrency in Japanese domestic exchanges, as well as the definitions of and regulations for utility tokens and security tokens.
Swissquote Banking Group to Launch Crypto Custody in Late March
Swiss banking group Swissquote has revealed its plans to launch crypto custody services in late March, according to the company’s 2018 business results report, published on March 8. According to the report, the company has been trading five major cryptocurrencies since 2017 and is now introducing a crypto custody service.