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Monday April 9 2018, Daily News Digest

S&P bicoin correlation

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United States

SEC Freezes $ 27 Million in Stock Trades From Blockchain Company Longfin (Bitcoin Magazine), Rated: AAA

On April 6, 2018, the United States Securities and Exchange Commission obtained a court order to freeze $27 million in stock trades from Longfin Corp., a publicly traded blockchain technology company. According to the SEC’s official statement, the company’s CEO and three other affiliates are under investigation for the illegal distribution and sale of restricted Longfin Corp. shares.

Initial Coin Offerings Raised a Record Amount in First Quarter of 2018 (PR Newswire), Rated: AAA

The Initial Coin Offerings market is booming in the first quarter of 2018 despite the decline of cryptocurrency prices. According to data from Coinschedule, companies had raised more than 5 billion in 165 ICOs since the beginning of this year. In 2016, about 95 million were raised through 43 ICOs projects. In 2017, the total number of ICOs reached 164, raising more than $3.8 billion. Encrypted messaging service Telegram’s ICO is the biggest initial coin offering in 2018, raising $1.7 billion, while the communications sector raised the most funds through ICOs in 2018.

According to a reported published by International Data Corporation, worldwide spending on blockchain solutions is forecast to grow with a five-year compound annual growth rate (CAGR) of 81.2% to $9.7 billion in 2021.

Class Action Filed Against Nano Developers, Demands ‘Recovery Fork’ Of Lost Funds (CoinTelegraph), Rated: AAA

A new class action lawsuit has been filed in the United States District Court Eastern District of New York on behalf of investors in Nano (XRB, formerly Raiblocks), according to a class action complaint signed April 5.

The lawsuit asks that Nano be ordered by court to “rescue fork” the investors’ missing NANO “into a new cryptocurrency in a manner that would fairly compensate the class of victims.”

The lawsuit is being filed by an American individual, Alex Brola, through Silver Miller law firm, and alleges that Nano’s core team both violated US securities laws by selling unregistered securities as well as negligently misrepresented the reliability of crypto exchange BitGrail, from which around 17 mln Nano ($187 mln at the time) were stolen in mid-February.

6 Myths About Bitcoin And How To Bust Them (CoinTelegraph), Rated: AAA

The price of Bitcoin is too high

Despite being down more than 60 percent from its all time high, the price of 1 Bitcoin – around $7,000 at the time of writing ($7,116 at press time – Cointelegraph) – still deters many people from entering the market. Even though Bitcoin is on the main page of many online newspapers since mid-2017, most people still do not know they can buy a fraction of a Bitcoin. So let’s set the record straight: 1 Bitcoin can be divided into 100 million satoshis (the smallest Bitcoin unit).

bitcoin max supply
Source: CoinTelegraph

Assuming a world population of 7 bln people, it means that there are 300,000 satoshis available per human being, or 0.003 Bitcoin. Since several studies have estimated that 3 to 4 mln Bitcoins have been lost in the early years, the true number is probably closer to 220 – 250,000 satoshis per person.

Bitcoin is bad for the environment

While Bitcoin has been targeted by environmentalists, the legacy fiat system is not perfect either. A lot of resources are also dedicated to running datacenters, building and powering bank branches and printing banknotes just to name a few.  The US Federal Reserve alone spends $700 mln a year just to print dollar bills. What makes Bitcoin an easy target is simply that it is relatively easy to figure out how much electricity it consumes.

40 percent of All Bitcoins Are Controlled by 1,000 people

Another myth is that supposedly 40 percent of Bitcoins are held by only 1,000 people. The reality is that this is pure speculation. What we know for sure is that there are currently 24 mln Bitcoin wallets. However, one person may have hundreds of wallets while one wallet may hold Bitcoins belonging to thousands, or millions of people, which makes any analysis of the concentration of wealth among Bitcoin holders quite impossible.

Bitcoin Is used to buy drugs and for money laundering

With Bitcoin, every single transaction is public, which is not exactly ideal if you are looking to engage in illegal activities. Two reports were recently released claiming that only 1 percent of all Bitcoin transactions were used for money laundering or  44 percent for illegal activities. Needless to say there is no consensus on this issue.

A $ 250 million money manager wants to unleash Chinese crypto companies onto US investors (Business Insider), Rated: A

California-based asset manager Reality Shares made headlines at the beginning of the year when it launched its blockchain fund, the Reality Shares Nasdaq NexGen Economy ETF. Now, the company, which manages $250 million, is trying to get clearance from regulators on a new blockchain fund that’ll track companies based in China and Hong Kong that are working with blockchain, the technology behind cryptocurrencies such as bitcoin.

Overstock CFO to Join Blockchain-Tech Joint Venture (WSJ), Rated: A

Overstock.com Inc. OSTK -2.23% finance chief Robert Hughes is leaving his post to serve in the same role at a blockchain-technology joint venture that involves Overstock’s chief executive.

Mr. Hughes is joining DeSoto Inc., which Overstock said involves Overstock CEO Patrick Byrne, Medici Ventures Inc., and Peruvian economist Hernando de Soto. DeSoto is working to develop a global property-registry system using a blockchain-based system to surface the property rights of people in the developing world.

Salesforce is working on a blockchain product (TechCrunch), Rated: A

In an interviewwith Business Insider’s Julie Bort at the end of March, Salesforce co-founders Marc Benioff and Parker Harris talked about a range of subjects including how the company came to be working on one of the next hot technologies, a blockchain product.

Bitcoin Forks and Livestock Law? Tax Day 2018 Is a Different Animal (CoinDesk), Rated: A

If the great bitcoin forks of 2017 entitled existing bitcoin holders to “free money,” as was often said, do Americans have to pay tax on that windfall, and how much?

Although new cryptocurrency received in a fork differs from that already held, could it be analogous to the taxation of pregnant livestock?


The intentionally misleading Twitter account @Bitcoin has once again been penalized by the popular social media network — this time, in the form of a suspension.

Let’s all #Paywithlitecoin and grow Litecoin (LTC) in 2018 (CryptoRecorder), Rated: A

The only option now is to force adoption. If we can all push for adoption, the value of cryptos will grow. That’s why it’s impressive that Litecoin is running a twitter campaign called, #paywithlitecoin. Under this hashtag, Charles Lee the founder of Litecoin, is encouraging people to spend their LTC. He recently tweeted the following,

Source: CryptoRecorder

A $ 675 Million Deal to Purchase a Famous New York Hotel With an Initial Coin Offering Is Tanking  (Gizmodo), Rated: A

Investors are walking away from a $675 million deal to purchase New York’s storied Plaza Hotel, in part by raising $375 million via an initial coin offering—a largely unregulated form of investment vehicle in which investors are offered cryptocoins instead of traditional stock.

Per Business Insider, sources now say that the promise of buying into a New York landmark once owned by President Donald Trump (who admittedly drove it into bankruptcy) is not enough to attract investors to the deal.

VINchain ICO Races Ahead with 250m Car Database Partnership (ICO Exminer), Rated: A

Ten year veterans of the US vehicle inspection market, AutoInspect.us LLC, have agreed to share their huge database of 254,999,413 vehicles with the new VINchain blockchain.

The enormous number of vehicles is a scoop for VINchain who are currently a week away, or 235 ETH, from concluding stage 4 of their ICO.

LA Dodgers Minor Leaguer Retires At 22 to Launch Cryptocurrency Hedge Fund for Athletes (CCN), Rated: A

Tyler Adkison, a cryptocurrency hedge fund CEO, says cryptocurrencies are the wave of the future that will be ushered in by Millennials.

Adkison, 22, recently retired as a minor league baseball player with the Los Angeles Dodgers to launch a crypto hedge fund focused exclusively on athletes.

One Network, Imperial Logistics partner to use blockchain to secure medical supply chain (DC Velocity), Rated: A

Dallas-based One Network Enterprises, a provider of multiparty digital network platforms and services, has partnered with logistics provider Imperial Logistics to provide an end-to-end fulfillment solution using One Network’s cloud platform. By managing the entire medical supplies distribution process, One Network’s Real Time Value Network (RTVN) serializes, tracks, and authenticates drugs, safeguarding the medication’s distribution, the company says.

IBM Seeks To Patent System That Amends, Deploys EDCCs (ETHNews), Rated: B

A 2016 patent application, published on April 5, indicates that IBM has been exploring a way to insulate firms that rely on these contracts from the dangers of redundant or conflicting EDCC programming. The system described in the document would automatically remedy overlap and conflicts in different contracts that are deployed on the same blockchain or sidechain. The authors claim that the process would result in the creation of a new contract that would function as intended by the entity which originally deployed it.

Rockefeller’s VC Arm Venrock Partners With Coinfund, Exec Highlights Focus On Long Term (CoinTelegraph), Rated: B

Venrock, the official venture capital arm of the Rockefeller family, has partnered with crypto investment group Coinfund to support cryptocurrency and Blockchain business innovation, Fortune reported April 6.


AllThingsCrypto Releases Review of Cryptocurrency Exchanges (PR Newswire), Rated: B

AllThingsCrypto reviews the most widely used cryptocurrency exchange platforms. This review combines details about the exchanges with users’ experience on the platform in order to assist novice crypto investors entering this space. AllThingsCrypto.tech acts as a library of invaluable information and educational resources that helps keep followers informed on all the latest developments in the crypto world.

While AllThingsCrypto’s exchange review is not the first, it is certainly more extensive that others, covering over 50 exchanges which accept 24 different fiat currencies. AllThingsCrypto’s review also includes trading platforms which do not offer currency exchange programs. This will provide viewers around the world with a quick and simple resource for finding an exchange that will best serve them. This review rates exchange services based on the following parameters: fees, security, ease of use, and how many cryptocurrencies are available for trade.

TipRanks Launches Analytics Platform for Cryptocurrency (RT Insights), Rated: B

Financial analyst ranking service provider TipRanks has launched an analytics platform specifically for the cryptocurrency market. Dubbed CoinWatch, it’s designed to provide real-time analytics and insights and aggregates the latest values and historical data on over 1,000 different types of cryptocurrency. It also offers data from news and social media.


Q1 Breaks All the Wrong Bitcoin Price Records, But Why Should Crypto Market Be Optimistic For Q2? (CoinTelegraph), Rated: AAA

There have not been many times in the cryptocurrency market where an extended period has seen negative growth; however, the first three months of 2018 have been the exception. In fact, this first quarter of 2018 has broken records and registers as the worst first quarter in the history of Bitcoin, and the second-worst quarter ever.

A week into Q2 crypto analysts and experts are approaching the next few months with optimism despite what has gone before. There are a couple of reasons for this, and if history is to be followed and noted, then Q2 holds a lot more promise and optimism.

Source: CoinTelegraph

S&P bicoin correlation

Bitcoin price plunges after RBI bars banks from dealing in cryptocurrencies (Business Today), Rated: A

The values of cryptocurrencies on Indian exchanges have fallen below global exchanges due to a decline in demand after the RBI on Thursday evening directed banks to wrap up all dealings with virtual currency players within three months. Earlier, cryptocurrency prices on Indian exchanges were at a 10% premium compared to global exchanges. Now in a reversal of fortunes their value has fallen 10% below prices reigning on international exchanges.

The price of the most popular cryptocurrency bitcoin, for instance, was Rs 4.8 lakh on Indian exchange Koinex on April 5, before the RBI announcement. On American exchange Coinbase, it traded at $6,880 (Rs 4.47 lakh). But according to the latest values, the rates were Rs 4.04 lakh and $6,993 (Rs 4,54,545) on Koinex and Coinbase, respectively.

Verge Stole the Limelight in a Lackluster Week for the Crypto Markets (CoinDesk), Rated: AAA

Weekly performance: +50 percent
All-time high: $0.30
Closing price on March 30: $0.035945
Current market price: $ 0.054068
Rank as per market capitalization: 22

Verge currency
Source: CoinDesk

Despite the 29 percent pullback from the weekly high of $0.076482, verge’s XVG token is reporting 50 percent gains on a weekly basis.


Weekly performance: +9.17 percent
All-time high: $28.35
Closing price on March 30: $8.28
Current market price: $9.04
Rank as per market capitalization: 20

Source: CoinDesk

ICON’s ICX token tops the list of losers for the second week. The token fell to a five-day low of $1.82 on Binance, having clocked a high of $2.43 earlier this week.

Source: CoinDesk

Overall Cryptocurrency Trading Volume Remained Low All Last Week (The Merkle), Rated: A

Among the top 100 cryptocurrencies ranked by market cap, over 80% saw lower trading volume over the past week. That list includes virtually all top cryptocurrencies, even though Bitcoin is still doing a more than adequate job in this regard. Unfortunately, only 18 currencies have seen slight to major increases in trading over the past seven days.

In late March of this year, the overall crypto market volume per day was $12.75 billion. At that time, we also had a cryptocurrency market cap of just over $215 billion. One week later – on April 1 – that market cap had shrunk to $248.57 billion. As a direct result, the overall trading volume also declined to $9.54 billion. Compared to the $40 billion in daily trading volume late last year, things have certainly taken a turn for the worse.

Why Bitcoin BCH is the only blockchain capable of handling VISA-level transactions (CoinGeek), Rated: A

The VISA network has been processing in the region of 141 billion transactions a year, and for any cryptocurrency to fulfill its potential, the technical infrastructure needs to support these volumes.

On closer inspection, Bitcoin Cash (BCH) is capableof handling the levels of transaction volumes supported by the VISA network. SegWit-Coin BTC (inaccurately referred to as Bitcoin Legacy or Core by many) in particular simply isn’t up to the job.

Islamic Scholars Debate Validity of Cryptocurrencies (U.S. News), Rated: A

The world’s top Islamic finance scholars are scrutinizing the validity of cryptocurrencies, as debate grows in the industry as to whether such fast emerging financial tools can be deemed sharia compliant.

The issue of religious permissibility could help determine whether Islamic financial firms can invest in cryptocurrencies, widening their appeal in the industry’s main centers in the Gulf and Southeast Asia.

The discussions are part of the annual sharia conference of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) being held in Bahrain this week.

Skycoin Presents the Blueprint for Evolving the Blockchain (CoinIdol), Rated: A

Skycoin’s Fiber platform is designed to overhaul blockchain centralized and scalability issue by allowing each token, on the platform to act as a validated fork, which is then tailored to the dApp’s explicit needs. In turn, there is imminent interoperability that offers immediate support for holder’s token at inception, instantly delegating members of the Fiber platform into the exchange protocol.

McFly.aero Launches Flying Taxis ICO (The-Blockchain.com), Rated: A

The McFly.aero Technology and Business Incubator on Thursday launched its initial coin offering (ICO) to build a network of flying cars for mass use as air taxis in cities.

The consortium behind the project includes three companies already focused on aerial vehicle design: Bartini, Hepard, and IAMAERO; three blockchain development groups, Universa.ioEmercoin, and AIRA Labs, and a battery and charging point manufacturer, Farad.Energy, as well as Drone Employee by AIRA Labs, which makes smart contracts for auto-piloted drones.

The company states that initial development of this ambitious project is currently in progress  in 17 countries around the world, with a community of entrepreneurs and early supporters setting up air taxi management systems and marketplaces in Australia, Belarus, Canada, Egypt, France, India, Indonesia, Kenya, Malaysia, Mexico, Nepal, Netherlands, Nigeria, Panama, Philippines, Russia, and USA.

ETHLend Unleashes Alpha 0.3 (Kogia) to Ethereum Testnet (ETHLend), Rated: B

ETHLend is proud to present to you today the newest version of the decentralized application running on the Kovan testnet. This is definitely the biggest achievement for the ETHLend team, who have been busy working over the past few months to meet the milestonesnew fee structure and additional functions for the new release.

Stellar plans to tackle down Ripple and Ethereum with its Lumens (Global Coin Report), Rated: B

Perhaps that could be the case of some of the most consolidated companies like Ripple or Ethereum, which actually could be at high risk after Stellar deployed its bold move of partnering with IBM; a deal that might grant them the adoption of its lumen on all of the central banks around the globe.

Blockchain and ICO Expert David Drake comes onboard as REPU’s Advisor (The Merkle), Rated: B

REPU, the rating and feedback platform based on decentralized blockchain technology, is expanding its advisory board by welcoming LDJ Capital Chairman David Drake into their team. David will steer  Repu on a number of significant issues such as international business development and investor relations.

European Union

Vitalik Opposes Fork to Disable Ethereum ASICs (CoinDesk), Rated: AAA

Vitalik Buterin is coming out against a proposal that would find the blockchain he created changing its software to limit the performance of mining hardware designed to yield a greater cut of the network’s rewards.

Vitalik Buterin Outlines Off-Chain Ethereum Smart Contract Activity at Deconomy (Crowdfund Insider), Rated: A

According to Buterin, with permissionless interoperability one can design a system that interoperates with apps built on Ethereum and with Ethereum itself, “…regardless of whether or not those other operations actively cooperate.”

“So basically all these things are different kinds of monopoly resistance.”

Added features like privacy, according to Buterin increase costs significantly. These persistent decentralized blockchain network costs mean that, even today, nine years in, the two main use cases are still, “…basically cryptocurrency speculation and Silk Road.”

Is Serenity The Solution To Ethereum’s Difficulty Bomb? (CoinTelegraph), Rated: A

Ethereum has four milestone phases in its development post-release; FrontierHomesteadMetropolis, and Serenity. Ethereum is currently in phase three – Metropolis version Byzantium. However, Ethereum has had a difficulty bomb – a protocol that makes mining the cryptocurrency more difficult – programmed into its Blockchain since the Frontier phase.

If the Ethereum network is beginning to feel the effects of the difficulty bomb in the latter part of 2018, we would most likely see Ethereum hard fork to the next milestone, Metropolis v. Constantinople, which would be the first milestone version to introduce the PoS system to the Ethereum Blockchain. Although a majority of the transactions on the Ethereum network will remain PoW, every 100th transaction will be PoS in Constantinople, which will lay the groundwork for Casper, the PoS system used in Serenity – Ethereum’s final milestone.

proof of work and proof of stake
Source: CoinTelegraph

Gov’t-Issued Digital Currencies Threaten Financial Stability, Says Swiss Central Banker (CoinTelegraph), Rated: A

According to Swiss National Bank (SNB) governing board member Andréa Maechler, private cryptocurrencies have advantages over central bank digital currencies (CBDC), Cointelegraph auf Deutsch reported Sunday, April 8.


Did you miss out on Ancora’s first ever Initial Pen Offering (IPO)? Wish you could’ve gotten one of those fancy Bitcoin Pens at a 50 percent discount? Well, if that’s the case, you won’t want to miss out on the luxury pen maker’s second IPO — only this time, it’s for the Ethereum Pen!

United Kingdom

Facebook among 30 organisations under investigation by the ICO (ComputerWeekly), Rated: AAA

The Information Commissioner’s Office (ICO) has announced that it is investigating 30 organisations, including Facebook, as part of a probe into the use of personal data and analytics by political campaigns, parties, social media companies and other commercial actors.

UK issues guidelines for cryptocurrency derivatives (CoinGeek), Rated: AAA

On April 6, the Financial Conduct Authority (FCA) posted a statement on its website that is directed to businesses that deal in cryptocurrency. According to the statement, crypto derivatives, such as futures, opts or contracts for difference (CFD), fall under the UK’s Markets in Financial Instruments Directive II (MFID 2).

UK watchdog reviews cryptocurrencies, Brexit stretches resources (Reuters), Rated: A

Britain’s markets watchdog will publish a review of cryptocurrencies in the third quarter as it grapples with stretched resources due to Brexit.

In proper 2018 fashion, the royal wedding now has its very own cryptocurrency (Digital Trends), Rated: B

When Prince Harry and Meghan Markle tie the knot on May 19 this year, they’re being gifted a new cryptocurrency, called the Royal Coin, that’s been established to commemorate their wedding. The Royal Coin had its initial coin offering (ICO) this week, underwritten by ICO Rocket. It’s endorsed by the British Monarchist Society and Foundation, and proceeds from its tokensale are being divided between Harry and Meghan’s favorite charities. Part of the proceeds will also go to the Crown and Country Magazine to help fund a special Royal Wedding edition.


Binance Coin: (BNB/BTC) Looking For Support To Continue Breakout (cryptovest), Rated: AAA

Binance Coin continues to uptrend against BTC despite the current bear market, gaining 116% over the past 3 weeks, going from 8,718 Sats to 18,885 Sats.

Looking at the 4hr chart above, we can see a potential “Cup and Handle” pattern forming where the previous uptrend closed out at the same height of the current trend, to establish the ‘rim of the cup’, with a deep bowl of candles performing in between creating ‘the cup’.

Source: cryptovest

In order to complete this bullish pattern we will need to see BNB fail to break beyond the resistance and retreat back down to the lower support at 17,000 Sats. From there, the price action should curve back up to the resisting level as bulls overtake the sellers once more, and breakout above to complete the ‘Handle’.

binance macd
Source: cryptovest

Chinese Private Equity Group Unites Blockchain and Investment Strategies (Bitcoin Magazine), Rated: A

As cryptocurrencies continue to make their mark on the financial arena, many capital investment firms are looking to bring the power of the blockchain and traditional investment strategies together to give traders more opportunities in an adapting industry.

Leading Chinese private equity group JD Capital is one of those firms.

Hong Kong regulator cautions on ICOs, halts Black Cell raise (Harbour Times), Rated: A

Hong Kong’s Securities and Futures Commission has recently halted an initial coin offering (ICO) launched by Hong Kong-based Black Cell Technology Limited and ordered the issuer to refund its investors, marking the first time a Hong Kong regulator has blocked this new means of fundraising.  

Oddup Adds ICO and Cryptocurrency Analysis to Its Startup Insights and Rating Platform (PR Newswire), Rated: A

Oddup, the global leader in startup investment insights, has added the listing and analysis of ICO and Cryptocurrency data to its platform. The Oddup platform now hosts live streaming of the prices of all active cryptocurrencies, along with their market capitalization and performance analysis.

Oddup’s new ICO listing covers an extensive list of curated and analysed active, upcoming, and past ICOs. This addition satiates increased investor interest in ICOs and cryptocurrencies, providing a platform for comprehensive data and insights.



They say a rising tide lifts all boats, and as the interest in cryptocurrencies continues to grow, so too does the interest in cryptocurrency mining. As a result, GPU and ASIC equipment manufacturers have reported a drastic rise in demand. Following this trend, Hangzhou-based cryptocurrency mining equipment manufacturer Canaan Creative reported a surge in 2017 for their products.

The Chinese company is currently planning to launch an IPO, but what has really caught some observers by surprise is the company’s plans to file outside of China.


AUSTRAC Approve Crypto License for Australia’s First Insured Exchange (MondoVisione), Rated: A

Blockbid have become only the third recipients of an AUSTRAC license, meaning they have been granted permission to legally operate as a cryptocurrency exchange, according to Australian law. This is an important stepping stone to becoming an active, worldwide cryptocurrency exchange, whilst further guaranteeing a safe, transparent and compliant platform for crypto investors to trade on.


No, India hasn’t banned cryptocurrencies (The Next Web), Rated: AAA

Reserve Bank of India issued a press release on Thursday that had a directive for withdrawing support to virtual currency businesses. The news sent a frenzy across the Indian cryptocurrency community and everyone could only talk about how India’s central bank has ‘banned’ cryptocurrencies.

A law to ban the use or trade of cryptocurrencies in India has to come from either the elected governments (whether central or state) or the judiciary (Supreme Court of India or the State High Courts).

The case against introducing central bank digital currency in India (Times of India), Rated: A

Reserve Bank of India’s statement on developmental and regulatory policies, which accompanied the monetary policy statement on 5th March, said that an in-house group in the central bank will by end-June come up with suggestions on the desirability and feasibility of introducing central bank digital currency.

On the other side, there’s a reason to avoid introducing CBDC at the moment. On paper, CBDC allows its holders to quickly exit the commercial banking system if they are rattled for some reason. In other words, CBDC can exacerbate risks in a banking system struggling to remain credible.

Govt wants to use blockchain to bust fake drugs in India (Factor Daily), Rated: A

Indian policy thinktank Niti Aayog is working to put the entire inventory of drugs made and consumed in the country on blockchain with an intent to crack down on counterfeit and spurious drugs, according to two government sources.

The government wants to complete a “proof of concept” (PoC) solution by the year-end and begin implementation in 2019.

Japan Introduces Regulation Proposals for ICO Market Legalization (Coinspeaker), Rated: A

Japan has unveiled proposed guidelines for the legalization of ICOs.

In a proposal by Tama University and  the Center for Rule-making Strategies, a government-funded research group, the members defined guidelines for elaborating the rules that are needed to “establish ICOs as a sustainable financing method.”

Pakistan Bars Banks from Crypto and ICO Trading (CoinDesk), Rated: A

Pakistan’s central bank issued a statement barring financial companies in the country from working with cryptocurrency firms, becoming the latest institution of its kind to bar the activity.

China Successfully Completes International Shipment Using a Blockchain (BTCManager), Rated: A

In what could be a historic move, China and Singapore utilized the blockchain to completed a gasoline shipment between their borders on April 2, 2018. The act is among the first instances of international shipping via the blockchain and serves as a beautiful use-case for skeptics of the technology.

The shipment of gasoline was conducted by Sinochem Energy Technology Co. Ltd, which is wholly owned by the Government’s Sinochem Corporation. The shipment was sent from the Chinese city of Quanzhou to the port of Singapore, and the company claimed:

“It is the first time that blockchain applications have been applied to all key participants in the commodity trading process.”

TRON (TRX) Slid After Upbit Listing (cryptovest), Rated: A

TRON (TRX) had several successful days, but once again succumbed to the general slide in the markets, losing more than 9% on Friday to $0.037. The launch of Upbit trading was greeted, but seems to have caused a slide in prices.

Source: cryptovest

A verified Twitter account has started impersonating Justin Sun, founder of the Tron Foundationthat’s developing a media-focused cryptocurrency, to encourage users to participate in a scam.

“This is a fake account pretending to be me,” Sun tells Inverse. “Don’t fall into trap.”

It’s unclear when the verified username “slickliltaylor” started posing as Sun. The earliest Twitter post playing a role in an Ethereum scam dates back to March 31, but it’s possible that previous posts were deleted by the user.

Latin America

Chile’s National Energy Commission To Use Ethereum For Energy Data Pilot (ETHNews), Rated: AAA

On April 5, Chile’s National Energy Commission (often referred to by its Spanish acronym, CNE) announced the launch of a blockchain pilot project aimed at boosting the transparency, accuracy, and security of data relating to the nation’s energy sector.

The trial will involve CNE employees taking datasets from an existing energy data platform called Energía Abierta, or Open Energy. After software is used to verify their accuracy, those data will be hashed and written to the Ethereumblockchain. Members of the public will be able to access them through one of several GUIs.


There are now gold-backed cryptocurrencies for Muslims that conform with Sharia (Quartz), Rated: AAA

Cryptocurrencies writ large have not yet been officially banned in Saudi Arabia and the United Arab Emirates, but these governments have issued warnings about their citizens purchasing bitcoin. Because of this, Muslim markets have been slower to trade in digital currencies. And there is a lot of money to be made in Islamic finance: Muslim countries contribute about 1% of global GDP.

In Dubai, a startup has created a cryptocurrency that is backed to one of the world’s most stable assets: gold. OneGram’s pitch is that each unit of value is backed by a physical gram of gold that is kept in a safe. This therefore limits volatility and speculation, and has been deemed acceptable under Islamic principles by Dubai-based al-Maali Consulting.

gold and bitcoin

Kaspersky Warns Of Cryptocurrencies’ Mining Using Legal Applications (Forbes), Rated: A

Kaspersky Lab has warned of a new trend by cyber criminals who are mining cryptocurrencies through legitimate applications without user’s knowledge. The most popular legitimate miners are football-related applications and VPN applications.

Here’s Why Kazakhstan Won’t Ban Mining and Cryptocurrencies (Bitcoin.com), Rated: A

Huge amounts of money are being spent to digitize Kazakhstan. 70% of the country’s gross domestic product comes from the sale of mineral resources such as oil, gas, and coal. The government is aiming to reduce the country’s dependence on minerals before the oil runs out, or its price falls again, provoking another economic crisis.

Kazakhstan has the best e-government in the region, even better than that of Russia. In 2015-2016, the Doing Business ranking placed the country among the fastest growing economies in the world. In terms of GDP, the Kazakhstan is second only to the Russian Federation in its region.

Dubai to launch world’s first digital currency for creativity (Tahawul Tech), Rated: A

The Dubai Culture and Arts Authority (Dubai Culture) has launched its blockchain-powered digital bank for art, ArtBank.

According to Dubai Culture, the platform is the first of its kind in the world and it uses cryptocurrency to facilitate trading in artworks. The government entity also noted that it will be instrumental in establishing the emirate as a global centre for the arts.



South Africans Instructed to Pay Tax on Bitcoin and Cryptocurrency Earnings (Bitcoin Magazine), Rated: AAA

The South African Revenue Service (SARS) released a statement today, April 6, 2018, making it clear that, even though the country does not consider cryptocurrencies legal tender, you still have to pay taxes on the gains.

If digital currency collapsed the economy would suffer (The Star), Rated: A

Low awareness and unfounded regulatory policies are hindering the growth of digital currencies in Kenya, Investment experts have said.

In January, Citibank estimated accumulated holdings of Bitcoin in the country at Sh163 billion.

The lender warned that the economy would be greatly disrupted if the cryptocurrency would collapse today.

The estimation placed Kenya fifth in the world among countries with the highest Bitcoin holder per capita, below Nigeria which ranked third and above South Africa which came sixth.

New digital currency targets 100,000 subscribers (Punch), Rated: B

Promoters of new digital currency CoinMD have set a target to acquire 100,000 users and add 5,000 businesses in the Nigerian health industry in the next 12 months.


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