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Showing posts from June, 2018

Abu Dhabi Global Market Launches Regulatory Framework for Crypto Activities

The financial authority of Abu Dhabi Global Market has launched a regulatory framework for cryptocurrency activities following the completion of a public consultation. The market’s financial watchdog has also published a guideline explaining how crypto asset activities are now regulated. Also read:  Yahoo! Japan Confirms Entrance Into the Crypto Space Crypto Regulatory Framework Launched Abu Dhabi Global Market (ADGM) announced this week that it has launched a “framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries in ADGM.” ADGM is the international financial center in Abu Dhabi which collaborates with global financial centers, institutions, and regulators to “develop and supports member institutions with the regulatory framework, legal jurisdiction and attractive business environment they need for sustainable business growth,” its website describes. The Financial Services Regulatory Authority (FSR...
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Expedia Drops Bitcoin Payments, Official Confirms

Travel booking platform Expedia has stopped accepting bitcoin (BTC). A company representative confirmed the policy change, while stating that various payment options are being continuously evaluated without elaborating on the details. Expedia has been supporting bitcoin payments since 2014.   Also read: Russian Railways Eyes Crypto for Tickets, Blockchain for Cargo Expedia Confirms Suspension of BTC Payment Option Expedia.com, one of the world’s largest travel sites offering booking services for flights, hotels, and car rentals, is currently not accepting bitcoin (BTC). This week, the news was shared on Reddit by traveling bitcoiners who expressed their disappointment with the absence of the cryptocurrency among the payment options. Bitcoin payments have been available on Expedia for years. Responding to a request for more details from  Nathalie Stucky  of news.Bitcoin.com, a company representative confirmed the reports via email. Acknowledging the grievances of cryp...
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Volume Rankings Report for June 2018: Trading Activity Drops Across Crypto Markets

Market action during June has seen a significant slump in trade volume, with the majority of the ten most traded cryptocurrencies experiencing a drop in volume of between roughly 17% and 57% when compared with May. Also Read:   ICO Round-Up: Social Media Influencers Bypass Ad Ban, Centra Tokens Deemed Securities Month-Over-Month 30-Day Trade Volume Declines Across Crypto Markets BTC has maintained its significant lead as the most traded cryptocurrency, with BTC pairings producing roughly $125.6 billion USD worth of trade over the course of the last 30 days. Compared with May’s 30-day volume of approximately $185 billion, the BTC markets have seen a 32% loss in trade volume. Unlike last month, the combined volume of the second and third most traded cryptocurrencies combined surpassed that of BTC – with Tether and Ethereum producing roughly $130 billion in trade combined. The 30-day volume of USDT has seen among the smallest percentage loss incurred by a top ten cryptocurrency...
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Wendy McElroy: Crypto and the Structure of Class Warfare

The Satoshi Revolution: A Revolution of Rising Expectations Section 4: State Versus Society Chapter 9, Part 2 Crypto, and the Structure of Class Warfare The wall separating state and society is crumbling. Or, rather, the state is taking a jackhammer to it in an aggressive attempt to control every aspect of productive and cooperative life…The people you deal with on a daily basis are ceasing to be good neighbors, honest merchants, and disinterested strangers. They are becoming state informants who monitor your expression, your money, your behavior and attitude in order to report you to the authorities. They are ceasing to be “society” and becoming instead “the state.” – Murray Rothbard Cryptocurrency has an advantage that almost every other alternative money in the past has lacked. It does not mimic state-issued currency or state-controlled transfer systems, such as banks. Its revolutionary structure and function are as uniquely compatible with society as they are antagonistic to...
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ICO Round-Up: Social Media Influencers Bypass Ad Ban, Centra Tokens Deemed Securities

Three stories dominate this week’s initial coin offering (ICO) round up: It appears many ICO projects are reaching out to social media influencers in an effort to thwart advertising bans across leading platforms. A study published by the China Banking Regulatory Commission (CBRC) suggested that the country develop a licenced-based regulatory apparatus that permits cryptocurrency activities including ICOs. A U.S. judge has found that CTR, tokens distributed through Centra Tech’s ICO that sought the promotional services of boxer Floyd Mayweather, demonstrate numerous attributes of a security under existing legislation. Also Read:  South Korea Thinks Real-Name System is Working – Stepping Up Crypto Monitoring ICOs Turn to Social Media Influencers Amid Advertising Ban A report by the  LA Times has looked into the increasing prevalence of ICO promoters employing the services of social media influencers in the midst of the prohibition on cryptocurrency advertisements on a numbe...
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Report: 2018 Token Sales Almost Double Last Year’s Results

Initial Coin Offerings in the first half of 2018 have attracted nearly double the amount of funds raised last year, a new report reveals. Researchers point out, however, that the majority of ICOs have largely failed, with only a third of the projects closed successfully. According to the study, the US remains the major destination for coin offerings while Switzerland has established itself as a European ‘standard bearer’ in regulation.   Also read: Why 70% of ICO Tokens Are Not Exchange Listed and Probably Never Will Be $13.7 Billion Raised in Coin Offerings This Year The capital raised through Initial Coin Offerings (ICOs) has reached $13.7 billion USD in the first five months of this year, twice the total for the whole of 2017. The data comes from a newly released report authored by the Swiss Crypto Valley Association ( CVA ) and Strategy&, the consulting division of one of its members, PwC. The study aims to provide a comprehensive overview of the global ICO activity an...
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Mastercard Latest Crypto Patent: Anonymous Third Party Transactions

This week marks another set of patents granted Mastercard, which is part of a many years attempt by the payments behemoth to employ technology underpinning most cryptocurrencies. The latest turn involves anonymous distributed ledger transactions via a third party processor. Also read: Bitlicense Should be Smashed, Candidate for New York Governor Urges Mastercard Granted Still More Crypto Patents In its latest crypto patent filings, Mastercard stresses “a need for a technical solution whereby an entity may participate in a transaction where transaction details may be posted publicly to ensure accountability and trust in the data, while still providing anonymity and inability of others to track individual transactions or volume information by transaction party identifying information of both parties of a transaction to satisfy the confidentiality needs of each entity involved in the transaction.” The more than half-a-century old legacy payments institution based in the United State...
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Bitcoin Cash Support is Now Live on Purse.io

This week the well-known Purse.io, a firm that allows people to purchase items on Amazon and save 15 percent or more, has announced that Bitcoin Cash (BCH) support is now live. Furthermore, due to a partnership with the Bitcoin Cash Fund, the company is offering $10 cash back to Purse shoppers who shop and earn before the end of July. Also read:  Cryptocurrency Firm Circle Sees Institutional Interest Spike 30% Purse.io Launches Full Bitcoin Cash Support The firm Purse.io has officially announced full BCH integration due to the overwhelming requests from people asking the company to deploy more coin support. Purse says they have completed a major overhaul of the entire Purse experience, including a redesigned wallet that helps reduce fees. “Our community has demanded more cryptocurrency choice and this is our first big step. To celebrate, we’ve partnered with the Bitcoin Cash Fund to rain cash on you all,” explains Jaqi Lenee the company’s product design leader. We’ve built...
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PR: Finland Government and Essentia.One Reveal Plans for International Blockchain Logistics Hub

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Essentia.One – the decentralized interoperability protocol – has announced it’s partnership with the Finland Govt. to develop a second pilot. This time Essentia will focus on building blockchain based solutions in the field of smart logistics. Essentia co-founder Matteo Gianpietro Zago confirmed their move as a progression from their first pilot which began development back in April of this year to tackle unemployment rates and to track production chains. “The success of our first e-government blockchain project with MTK meant we built a level of mutual trust, and as passionate believers in the underlying value in blockchain, we knew that we could adapt the technology to solve many...
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South Korea Thinks Real-Name System is Working – Stepping Up Crypto Monitoring

South Korea’s top financial regulator recently told 23 other countries’ regulators that the kimchi premium has fizzled since the anonymous trading of cryptocurrencies was banned in the country. Now, the government is introducing a new guideline to prevent local crypto exchanges from buying cryptocurrencies at foreign exchanges. Also read:  Yahoo! Japan Confirms Entrance Into the Crypto Space Kimchi Premium Disappearing Kim Yong-beom, the vice chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), attended a meeting of the Financial Stability Board (FSB) in Basel, Switzerland, earlier this week. The FSB is an international body that monitors and makes recommendations about the global financial system. Its members are financial regulators and central bankers from 24 countries as well as the International Monetary Fund, the Bank of International Settlements, the World Bank, the European Central Bank, and the European Commission. According to ...
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Polish Bitcoin Association Seeks Protection from Alleged Banking Embargo

The Polish Bitcoin Association has reportedly appealed to Poland’s Office of Competition and Consumer Protection (OCCP) to protect the country’s cryptocurrency sector from what it perceives as a growing embargo targeting virtual currency businesses on the part of Polish financial institutions. Also Read:  The 2018 Crypto-Bear Market Less Severe Than 2014, At Least for Now Polish Bitcoin Association Files Complaint with OCCP Against 15 Banks The Polish Bitcoin Association has accused a number of the country’s banks of seeking to restrict competition through refusing to provide financial services to cryptocurrency companies. The association recently filed a complaint with the OCCP requesting that the regulator launch an investigation into the alleged banking embargo, and impose penalties where appropriate.. The Polish Bitcoin Association’s complaint accuses “15 financial institutions” of refusing to provide bank accounts to 52 entities in the country’s nascent cryptocurrency se...
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Bitcoin in Brief: Exchanges Expanding, Brave Adds Tor, Tether Double Spent

If you thought that only proof of work coins were susceptible to double spending attacks, you haven’t met tether. The world’s ninth largest crypto by market cap and second largest by volume is meant to be a haven in a sea of uncertainty, but even it’s not immune to jiggery-pokery, as we’ll learn in today’s Bitcoin in Brief. Also read:   Japanese Economist Explains Why Another Bitcoin Price Surge Is Unlikely How to Have Your Dollar Peg and Spend It If you were told that another cryptocurrency had been double spent, you’d probably guess it was a low hashrate PoW coin, not USDT. By rights, it ought to be impossible to double spend tether, but that’s what happened on June 28 according to one Chinese cybersecurity firm. Someone sent 694 tether to an exchange and was credited for the deposit due to a certain field value pertaining to the transaction being altered. An Omni dev (whose blockchain tether operates on) has since confirmed this did occur, but was the fault of the exchan...
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