Daily News Digest Featured News

Monday September 10 2018, Daily News Digest

The research report titled Charting the growth of cryptocurrencies pointed out that the U.S Dollars is the most actively traded fiat currency against cryptocurrencies over the past few years.
Source: XBT

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European Union

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News Summary

United States

Coinbase Doubles Staff Count To 500, Even In Bear Market (Ethereum World News), Rated: AAA

As per a report from Business Insider, which has become quite the controversial crypto news source over the past week, in February, representatives from Coinbase revealed that it was likely to double its staff count from 250 to 500 by the time January 2019 rolls around. And just a few months after divulging this information, it seems that the San Francisco-based crypto startup has already achieved its goal, with a firm spokesperson noting that Coinbase has already hit and surpassed that growth target.

A Billion People Will Be Using Cryptocurrency in 5 Years: Brian Armstrong (CCN), Rated: A

It could be one of the prime reasons why Brian Armstrong believes crypto-adoption will increase at an astronomical pace in the next half-decade.

The Coinbase chief executive was responding to a question about cryptocurrency’s international outreach at TechCrunch Disrupt in San Francisco, to which he predicted that 1 billion people would eventually be using cryptocurrencies in the next five years.

Bitcoin (BTC) Price Analysis: Approaching Triangle Support (Ethereum World News), Rated: AAA

Bitcoin has formed lower highs and is gearing up for another test of support at the $5,800 area, possibly ready to form a descending triangle. A bounce could lead to a test of the resistance, this time around the $6,400 area.

Note that the triangle chart pattern spans around $6,000 to $10,000, which is $4,000 in height.

Bitcoin triangle
Source: Ethereum World News

Bitcoin Price Surges From $ 6,190 to $ 6,450 in Seconds, What’s Next For BTC? (CCN), Rated: AAA

In seconds, the Bitcoin price has surged from $6,190 to $6,450, by more than 4 percent, after the dominant cryptocurrency remained in the low $6,100 region for more than 24 hours.

bitcoin
Source: CCN

“Uncanny” Correlation Between The Long-Term Bitcoin And Gold Charts (Ethereum World News), Rated: A

Since Bitcoin’s inception a decade ago, many have likened this decentralized digital asset to gold, with some dubbing Satoshi’s brainchild as a form of “digital gold.” This connection may be drawn due to the fact that the two individual assets are both stores of value, divisible, durable and secure.

Although there are similarities between the two assets that are as clear as day, as recently pointed by Nunya Bizniz, a lesser-known cryptocurrency proponent, there might be an “uncanny” line that can be drawn between the price action of gold and its digital counterpart.
bitcoin and gold

Coinbase, Robinhood, Ripple, Gemini and ConsenSys make it to the top 50 U.S startup list (AMBCrypto), Rated: AAA

LinkedIn, the leading business social media service provider, released the list of top 50 startups which are most sought after in the United States. Along with other companies, the list includes cryptocurrency startups such as Coinbase, Gemini, Ripple, Robinhood, and ConsenSys, marking the expansion of the space.

Ripple’s General Counsel Exits Startup, Spokesperson Says (CoinDesk), Rated: A

Ripple general counsel Brynly Llyr has exited the blockchain payments startup, a spokesperson told CoinDesk on Friday.

Ripple’s drop to under thirty cents may attract buyers (Digital Journal), Rated: A

Although the Ripple coin XRP has gone as low as 27 cents today it has also reached a high of 29 cents and its direction is positive. It may be that the low price is convincing people to buy Ripple in spite of it having legal troubles.

LITECOIN ANNOUNCES CORE UPDATE PUBLICLY (CryptStorm), Rated: AAA

Litecoin Core 0.16.2 has just been released, according to an official announcement on their blog website today, September 8, 2018.

Goldman CFO: the story about us dropping Bitcoin trading was fake news (TechCrunch), Rated: A

It sometimes feels like the price of Bitcoin rises and falls on the turn of a speculative dime, and yesterday we saw one such moment come to pass, when it was reported that Goldman Sachs was planning to drop a plan to build a Bitcoin trading platform, causing the price of the cryptocurrency to crash. But today, at TechCrunch Disrupt, the CFO of Goldman Sachs described the story as “fake news,” and said that in fact the bank is still considering how to offer services that involved physical Bitcoin, but that it has not yet set a timeline for it.

Big investment in cryptocurrency startup Altcoin.io (Digital Journal), Rated: A

Startup Altcoin.io, a decentralized cryptocurrency exchange located in San Diego, has announced it has secured $1 million of funding via crowdfunding service WeFunder.

EOS Block Producers Approve to Cut Costs for Onboarding New Users (Coinspeaker), Rated: A

The EOS block producers have finally found a way to incentivize new users by cutting down the onboarding costs. EOS New York made an official announcement on Thursday saying that 15 block producers have agreed to the new protocol. The new protocol talks about reducing costs for a new account from 4 kibibytes (KiB) to 3 KiB. EOS New York is one of the 21 EOS block producers elected to do transaction verification on the network.

How to Execute an Airdrop Campaign For Your ICO (Entrepreneur), Rated: A

“Airdrops,” once a sideshow to the mainstay ICO distribution model, are now central events of the cryptocurrency world. Companies usually sell tokens through ICOs and tokenized asset offerings. However, with airdrops, they simply give tokens away.

The hardest part of launching an airdrop may be the task of planning it out beforehand, but this step is still essential. What kinds of behavior will your airdrop reward? What type of blockchain user will it target, and how?

Digital Currency Investing Firm Grayscale Investments Launches Single-Asset Investment Vehicle “Zen Investment Trust” (Crowdfund Insider), Rated: A

Grayscale Investments, LLC, a digital currency investing authority, announced on Thursday the launch of Zen Investment Trust, a single-asset investment vehicle solely comprised of ZEN, a privacy-focused digital currency. Grayscale reported that Zen Investment Trust is its eighth single-asset investment product and the first security solely invested in ZEN.

HALF OF AMERICAN MILLENNIALS INTERESTED IN USING CRYPTO EXCLUSIVELY (Bitcoinist), Rated: A

A new study among 1,202 adults revealed that around half of the American millennials are interested in converting to cryptocurrency primarily, as opposed to the U.S. dollar.

Google Enters Blockchain: Does It Threaten Amazon, IBM, Microsoft? (CryptoDaily), Rated: A

You bet it does!

Google’s recent rollout of Ethereum analytics tool BigQuery shows the Alphabet subsidiary is taking the blockchain seriously. BigQuery is a free explorer tool but in the near future, Google can easily charge subscription fees for a host of blockchain tools and platforms.

Decred Price Analysis: Alterations to blockchain governance (Brave New Coin), Rated: A

Decred (DCR) was founded in 2016 by a group of former Bitcoin developers. The project is designed is designed to correct some of the inefficient governance and mining practices of PoW blockchains, and put structure and power into the hands of the Decred network’s token holding community.

DCR currently trades at ~$37.50, down ~71% from an all time high of $121.02 achieved in January 2018. Daily trading volumes are down ~58% from date of the price high. While these drops are severe, other alts such as LSKand IOTA have had much deeper falls.

Decred
Source: Brave New Coin

The most popular trading pair for Decred is the crypto-to-crypto DCR/BTC which account for over 26,000 tokens daily worth over USD1 million. The next most popular pair is the fiat-to-crypto DCR/KRW pair which makes up over 30% of Decred’s daily trading volume.

The most popular exchange for trading DCR/BTC is Seattle based Bittrex, which is a top 25 exchange by trading volume.

Decred exchanges
Source: Brave New Coin

This Tech Lets You Send Any Cryptocurrency to the Lightning Network (CoinDesk), Rated: A

Lightning Labs developer Alex Bosworth was looking into atomic swaps, a technology that allows the native cryptocurrency of one blockchain to be traded with another with no middleman when it hit him that it could be used to swap lightning for old-style on-chain bitcoins.

Called “submarine swaps,” that technology is now being tested on the live lightning network.

Stock Brokerage EF Hutton Rates Cryptocurrencies to Help Clients Track ‘Rapid Developments’ (CoinTelegraph), Rated: A

U.S. stock brokerage firm EF Hutton announced it would release research and ratings of cryptocurrencies and industry businesses for its clients Wednesday, September 5.

BUGATTI, ROLLS-ROYCE, & BENTLEY RETAILERS BEGIN ACCEPTING BTC AND BCH (Bitcoinist), Rated: A

Post Oak Motor Cars has become the nation’s first Rolls-Royce, Bugatti, and Bentley dealership to accept Bitcoin (BTC) $6339.71 +0.35% and Bitcoin Cash (BCH). The venue is owned by hospitality mogul Tilman Fertitta.

Crypto is a ‘Poor Form of Money’ for Terrorists, Congressional Hearing Concludes (CoinTelegraph), Rated: A

The U.S. Congress Subcommittee on Terrorism and Illicit Finance has discussed various methods of terrorism financing with cryptocurrency, according to an official press release on the U.S. House of Representatives Financial Services Committee September 7.

More Las Vegas Now Accepts Binance Coin (Daily HODL), Rated: A

More Las Vegas, the world’s first blockchain based night club, today announced that it is accepting Binance coin (BNB) for all club services.

$ 27 Million: SEC Lawsuit Goes After Billionaire Philanthropist and Crypto Investors (CryptoGlobe), Rated: A

Dr. Phillip Frost, an 81-year-old billionaire who made his fortune in the pharmaceutical industry, has been accused by the US Securities and Exchange Commission (SEC) of manipulating the prices of penny stocks. The SEC has also sued Frost and his partners John O’Rourke and Barry Honig, who are both well-known cryptocurrency investors.

Wyre acquires Hedgy (Cryptoninjas), Rated: B

Wyre Hedgy

Mining company can’t pay pollution fine through cryptocurrency sale (Magic Valley), Rated: B

A gold mining company pitched a new idea to an Idaho federal judge on how it wanted to pay a quarter-million-dollar, court-ordered penalty for environmental violations.

Canada-based Atlanta Gold Inc. told Chief U.S. Magistrate Judge Ronald E. Bush it planned to raise the money through a cryptocurrency sale.

The judge was not swayed.

AlphaPoint Taps Held for CFO Role (Waters Technology), Rated: B

Distributed-ledger firm AlphaPoint has appointed former TradingScreen and Liquidnet veteran Kevin Held aschief financial officer.

Opera Crypto Wallet Upgraded To Allow Users Send Crypto-Collectibles (CoinTrust), Rated: B

Opera ltd, the firm which built the popular Opera browser, has stated that it has upgraded its built- in cryptocurrency wallet to fully support ethereum- based Erc-721 crypto collectibles, including cryptokitties and MLB’s collectibles.

SEC halts trading in two cryptocurrency products, citing market confusion (Reuters), Rated: B

The SEC said in a statement that trading in Bitcoin Tracker One and Ether Tracker One would be halted in the United States until at least Sept. 20.

International

Cryptocurrency wipeout deepens to $ 640 billion as Ether leads declines (The Telegraph), Rated: AAA

The cryptocurrency bear market plumbed a fresh 10-month low, led by a slump in Bitcoin’s biggest rival.

Ether fell 10 percent Monday to $196.275. Bitcoin also started the week on the back foot after US regulators suspended trading in two securities linked to cryptocurrencies.

Crypto Market Stands Its Ground, Three of the Top 20 Coins by Market Cap See Gains (CoinTelegraph), Rated: AAA

Dash (DASH) is up more than 5 percent over the past 24 hours, trading at around $196 at press time. The altcoin is still down more than 9 percent over the past week, according to CoinMarketCap.

Dogecoin (DOGE), which has skyrocketed recently, is also among the leaders in terms of top 20 coins by market cap today. The digital currency is trading at $0.006 at press time, up about 5.5 percent over a 24 hour period, but at the same time almost 9 percent down over the week.

crypto market

New Report Shows USD Leads Other Fiats In Trading Against Cryptocurrencies (XBT), Rated: AAA

The research report titled Charting the growth of cryptocurrenciespointed out that the U.S Dollars is the most actively traded fiat currency against cryptocurrencies over the past few years.

The research report titled Charting the growth of cryptocurrencies pointed out that the U.S Dollars is the most actively traded fiat currency against cryptocurrencies over the past few years.
Source: XBT
coinbase
Source: XBT

eToro is the most significant case which experienced a 200% increase in users after it enabled Bitcoin CFD as an investment instrument in 2014. Payment Company Square also experienced a similar growth after it enabled Bitcoin trading on its Cash App.

crypto exchanges
Source: XBT

Bitcoin A Global Currency? That’s A Myth (Forbes), Rated: AAA

Bitcoin isn’t a global currency ready to replace national currencies, including the mighty dollar. That’s a myth.

The emerging market crisis is a currency crisis. Investors are losing faith in currencies of countries heavily indebted in US dollars, and in the reluctance of central bankers to fight inflation.

POTENTIAL FOR ALTCOIN PROFITS IN A BULLISH Q4 2018 CRYPTOCURRENCY MARKET (Bitcoinist), Rated: A

Beyond the hope of history repeating itself, there are also concrete reasons why 2018 will follow the trend set in the two previous years. First of all, October marks a period of increased activity regarding updates to many altcoins.

Lisk ($LSK) is expected to launch its decentralized exchange on October 1, 2018, for example. This event could have a positive impact on its price which is currently slightly above $4 for the 24th-ranked cryptocurrency. December also sees a centerpiece move from Stellar (XLM) as the altcoin plans to launch Lightning Network in its own livenet.

Why do ICOs use Ethereum (or EOS, NEO etc.) blockchain over Bitcoin? (Captain Altcoin), Rated: A

What many don’t know is that before Ethereum existed, Bitcoin was primarily used for funding ICO’s. The first token sale ever was held by Mastercoin in July 2013 during which the project collected 5000 BTC (then $500 thousand). Ethereum itself was made possible thanks to an ICO which collected 3700 BTC, or $2.3 million at that time.

How Fiat Currency Crises Drive Nations Toward Cryptocurrencies (Investopedia), Rated: A

2018 has been a year defined by economic crisis for many countries. Turkey, Iran, Zimbabwe, and Venezuela have all faced protracted and difficult crisis events which have severely damaged their economies. Each of these countries is experiencing high levels of inflation among other effects. Now, a report by Coin Telegraph suggests that residents in these beleaguered nations are turning more and more to cryptocurrencies as a means of exchange and as a store of value. This, in turn, has led some analysts to predict that bitcoin and other major digital currencies could one day take the place of fiats like the Bolívar, the Lira, or other troubled government-issued currencies. Below, we’ll explore some of the potential causes for these shifts.

3 CRYPTOCURRENCIES WELL-POSITIONED TO BEAT BTC: NPXS, POLIS, TRIG (Bitcoinist), Rated: A

This week provides opportunities for a few different cryptocurrencies:

  • NPXS (Pundi X) – Specializes in point of sale systems using crypto and just shipped 5,000+ POS units while signing deals with new South American countries.
  • POLIS (Polis Coin) – Their masternode return has been 140% the prior 261 days.
  • TRIG (Triggers) – The calendar says it all; booth at the NRA conference Sept 14-16, Smargtuns public launch, Masternodes launch (by November 15), Mainnet launch (by the end of 2018).

Top 6 Cryptocurrencies That Recently Hit ATHs (NullTX), Rated: B

Loom Network set its all-time high just 124 days ago.

Although the cryptocurrency community has some mixed feelings toward Bytecoin, the project is still firing on all cylinders. Its most recent all-time high was recorded 123 days ago, though it remains to be seen if that was the last time BCN ever saw such a high value.

The ZIL all-time high was recorded 122 days ago, further confirming positive things tend to happen for cryptocurrencies which offer something worthwhile.

It has been relatively quiet where Bluzelle is concerned these past few months. This is despite the altcoin noting a new all-time high 118 days ago, yet it seems things have calmed down quite a bit ever since. In fact, it seems the current has dropped 87.5% from its all-time high over those past 121 days, which is not an encouraging sign at this time.

We recently discussed Theta Token on NullTX, and it seems the currency remains in relatively high demand. Its latest all-time high was recorded 97 days ago.

Perhaps the biggest surprise of them all is how the VeChain price recorded a new all-time high just four days ago.

European Union

ETHEREUM 2.0 ROADMAP UNVEILED AS ETH PRICE HITS YEARLY LOW (Bitcoinist), Rated: AAA

Ethereum’s grand plans for the future continue in the background, with decentralized Ethereum Proof of Stake pool Rocket Pool’s senior blockchain developer Darren Langley releasing an overview of the so-called ‘Ethereum 2.0’ roadmapSeptember 7.

Ethereum 2.0, which encompasses innovations including Casper and sharding, is being built in a decentralized manner, something which Langley extensively highlights.

Vitalik Buterin: Crypto, Blockchain Space Won’t See ‘1,000-Times Growth’ Again (CoinTelegraph), Rated: A

There is no chance that the cryptocurrency and blockchain space will see “1,000-times growth” again, Ethereum (ETH) co-founder Vitalik Buterin stated in an interview with Bloomberg September 8.

Ethereum Falls to $ 185: What’s Causing ETH to Drop Harder Than Other Cryptos? (CCN), Rated: AAA

Earlier today, on September 9, the price of ETH, the native cryptocurrency of Ethereum, fell to its yearly low at $185.

While ETH has rebounded above the $200 mark after an unforeseen recovery of Bitcoin from $6,190 to $6,450, since July, ETH has seen a steeper decline in value than other major cryptocurrencies.

Ethereum
Source: CCN

What’s behind the massive 87% drop in Ethereum? (Crypto News Review), Rated: A

The past 24 hours has seen Ethereum plummet to $186, down 87% from its all-time highs of $1385 in January of this year. The last time ETH was this low was July 2017. What’s behind the falls?

ICOs liquidating is nothing new, but earlier this year it was countered by new ICOs raising funds, bringing more money into Ethereum to pledge against the ICO. The ICO market itself is in a downturn, and ETH’s fall is compounded by some newer ICOs raising money on alternative platforms such as NEO, Stratis, EOS and NEM.

dApps held great promise and ICOs like Augur raise millions. However the number of daily users are pitiful – last month, CoinDesk reported Augur had only 66 usersin 24 hours and overall dApp usage is in the thousands.

Ethereum Price Forecast: Ether Vulnerable Below $ 200 (ETHNews), Rated: A

In the last two analyses, we discussed that ETH/USD could extend declinesbelow the $211.61 low and $200.00. The pair did move down, broke the important $200.00 support, and traded to a new yearly low at $185.11.

Similarly, there were heavy losses in ETH/BTC below the 0.0340BTC support. The pair even broke the 0.0320BTC support and tested the 0.0300BTC zone. The next key support is near 0.0265BTC.

Ethereum Price ETHUSD Forecast 09 September 2018-09-09-2018
Source: ETHNews

Binance denies IPO speculation as it announces new CFO (Coin Rivet), Rated: A

Cryptocurrency exchange Binance has brought in Wei Zhou as Chief Financial Officer.

Previously, Wei served as CFO of Zhaopin.com and Charm Communications and led these companies through their IPO listings on the NYSE and NASDAQ. In addition, he orchestrated the acquisition of LGBTQ+ social networking platform, Grindr, where he currently serves as the Vice Chairman.

Monero (XMR) and Other Privacy Cryptocurrencies Withheld By Changelly for KYC Verification (OracleTimes), Rated: A

Monero (XMR) is the most popular privacy coin in the cryptocurrencies market as it provides entirely anonymous transactions. For that very reason, Monero (XMR) is also appreciated by hackers which prefer employing cryptojacking to mine XMR to keep themselves safe from the authorities. Also, because of this crypto’s nature, Changelly withheld Monero (XMR), along with other privacy coins, for KYC verification.

How to start mining Cardano? Cardano Mining Explained. (Coinnounce), Rated: A

Ouroboros is the name given to the cryptocurrency mining algorithm that Cardano mining incorporates. It is actually a very efficient method when compared to other cryptocurrency miningprotocols, where the users need to stake their funds. The nodes which Stake a certain amount of funds are known as stakeholders. Then all the stakeholders elect a single slot leader, who only gains access to add a block to the network. Interestingly each block must be mined every 20 seconds, and the whole process repeats for every 20 seconds, where each time a new slot leader is elected.

Legal aspects of STOs (CCN), Rated: A

From now on, we will be definitely hearing a lot more about the STOs because they have the potential to become the market standard form of funding for both startups and well-established companies that want to tokenize their securities offering instead of listing them on a stock exchange.

security tokens
Source: sharespost.com

Within the European space, the Swiss and German regulatory authorities manifested the strongest interest in providing guidelines on classification of the tokens, however, clear guidelines on how to classify tokens or information on when a token will not be regarded as a security have not been yet provided.

token sale vs. ico
Source: medium.com

Instant Crypto Trading Platform – ChangeHero – Adds Tron (TRX) To Its Platform (Smartereum), Rated: B

Tron (TRX) network is evolving very fast and it is quickly adapting to the blockchain ecosystem, making its presence felt all around the world. Now the native currency of Tron – TRX, will be added to the list of tradable coins on ChangeHero – an instant digital currency trading platform.

Fabric Token Launches TokenGen 3.0 – The All in One Token Crowdsale Automation Tool (Bitcoin.com), Rated: B

TokenGen is now in a league of its own in terms of token crowdsale automation. The tool’s 3.0 version provides an all-in-one solution for anyone who wants to run and manage a token generation event, but doesn’t have the necessary programming know-how.

United Kingdom

Coinbase Introduces Four New Altcoin Trading Pairs for British Pound (cryptovest), Rated: AAA

After adding British pounds to its list of accepted fiat currencies last month, Coinbase is now including Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), and Bitcoin Cash (BCH) to the initially available Bitcoin (BTC)/GBP trading. The altcoin pairs will be launched gradually on the Coinbase Pro platform on Friday, the exchange said in a blog post on Wednesday.

Majority of Investors Want to Buy More Digital Currency in 2018, Survey Shows (Investing.com), Rated: A

A majority of accredited and retail investors plan to increase their crypto asset holdings over the next 12 months, according to a survey published September 5 by investment platform SharesPost.

China

Despite Ban, China Keeps Trading Cryptocurrency Thanks to Tether and VPNs, Says Report (CoinTelegraph), Rated: AAA

Chinese traders are using virtual private networks (VPNs) as a major tool to circumvent the ongoing government crackdown on cryptocurrency trading, local media outlet South China Morning Post (SCMP) reported September 8.

Crypto Exchanges Change Domain Names to Bypass China’s Crackdown (CryptoGlobe), Rated: A

China’s government recently reported that its crackdown on cryptocurrencies has been successful as it claimed that bitcoin (BTC) to Chinese yuan (CNY) trades now accounts for less than 1% of global trading volume.

According to the South China Morning Post (SCMP) and the state-owned Shanghai Securities Times, the nation’s regulators identified 124 digital asset exchanges that have “illegally” been providing crypto trading services to Chinese residents. In order to bypass the government-led crackdown, the exchanges have been frequently modifying their domain names.

Short Positions on Ethereum Reach All-Time High on Bitfinex (Hacked), Rated: A

Ether’s price held near 12-month lows on Saturday, just one day after bets against the virtual currency spiked to all-time highs on Bitfinex.

Ethereum traded within a narrow range on Saturday and was last seen hovering near $216.00 on Bitfinex. The digital currency is considered severely oversold according to the relative strength index (RSI).

The ether price has declined 25% over the past week and is down a staggering 40% compared with 30 days ago, according to Ethlorer.io. At current values, ether has a total market capitalization of $22 billion. Daily trade volumes in ETH amounted to $1.3 billion.

Ethereum
Source: Hacked

China accepts blockchain verification for evidence in courtroom (SCMP), Rated: A

China has made blockchain records admissible in court as authorities step up measures to handle internet-related legal disputes.

Australia

A global crypto exchange moves to Australia with a $ 3M investment into a local exchange (Cryptoline News), Rated: AAA

Even with a set of controversies this year, KuCoin, a global crypto exchange moves to Australia with a $3 million investment into a local exchange in return for a share of the local market.

Bitcoin Australia, the local virtual currency exchange, will use the investment to start knocking on the international crypto space. It will also help KuCoin “enter the local market.”

Australia’s Cryptocurrency Sector Facing Increased Scrutiny (cryptovest), Rated: A

The Australian cryptocurrency sector is facing increased scrutiny by the country’s financial regulator. In its corporate action plan for 2018–2022, released on Friday, the Australian Securities and Investments Commission (ASIC) said it would keep a close eye on domestic cryptocurrency exchanges and Initial Coin Offerings (ICO).

Number of Australians holding cryptocurrency triples since January despite market plunge (News.com.au), Rated: A

THE number of Australians who own cryptocurrency has nearly tripled since the start of the year despite the market crashing from its peak at the height of crypto-mania in December.

A survey of 2000 people by Finder-backed brokerage firm HiveEx round 13.5 per cent owned crypto in August, compared with just 5 per cent when the same study was conducted in January.

Australian State Pilot Puts Driver’s Licenses on a Blockchain (CoinDesk), Rated: A

Australia’s New South Wales (NSW) government is turning to blockchain for a state-wide test of its driver license digitization program scheduled for November.

In an announcement on Aug. 20, the NSW government said it will conduct the pilot for 140,000 license holders in the state prior to a formal roll-out in 2019. Secure Logic, an Australian IT firm and technological partner on the project, said on Monday its blockchain platform will underpin the initiative to secure data in a distributed fashion.

Asia

3 New Exchanges Launches In Indonesia, Hong Kong, And Korea Supports Qtum (Smartereum), Rated: A

Bitone Trade Hong Kong is affiliated to a firm in Japan that is listed publicly, and the trading platform will be supporting thirty different digital currencies. Also, Huobi Indonesia will be supporting 123 digital currencies. Lastly, the South Korea-based digital currency trading platform – Probit, will be supporting 157 different digital currencies.

India Law Enforcement to File Charges Monday in $ 2.7M Coinsecure Wallet Hack (Bitcoin), Rated: A

Law enforcement authorities in New Delhi will file charges on Monday in the Coinsecure hack case. Coinsecure was a large cryptocurrency exchange allegedly wallet-hacked back in April of this year. It turns out to be an international crime, one spread over half a dozen exchanges.

MENA

THE NEXT ‘VENEZUELA’? BITCOIN UP OVER $ 8,400 IN IRAN AMID HYPERINFLATION (Bitcoinist), Rated: AAA

While Bitcoin $6326.17 -0.15% suffered an almost $1,000 drop in the rest of the world, the top-ranked cryptocurrency was reaching new heights in Iran.

Buoyed by the government’s legalization of cryptocurrency mining activities, the local price of BTC shot up to more than $26,000 on the localbitcoins platform for Iran. This figure amounts to more than four times than the average spot price around the world.

However, there are counter reports that the $20,000+ BTC price in Iran is grossly exaggerated, with the actual value on the street being closer to $8,400.

How Cryptocurrencies Are Regulated in the Middle East (CoinTelegraph), Rated: AAA

On Sept. 4, the government of Bahrain, a constitutional monarchy in the Persian Gulf, emphasized the importance of blockchain for the country’s economy. While the kingdom seems to be taking a rather positive approach toward crypto, the Middle East at large has proven to be a difficult region for virtual currencies, as a large chunk of countries there have banned crypto trading.

Bahrain blockchain crypto
Source: CoinTelegraph

Turkey

Cryptocurrencies appear to be popular in Turkey: According to a recent ING Bank report, a whooping 18 percent of Turkish people own cryptocurrencies compared with the eight percent in the United States. That could be attributed to the rising inflation rate of Turkish lira — indeed, the BTC trade volume in Turkish lira reportedly rose from 327,295 to 759,026 between the week ending on July 7 and the one ending Aug. 11.

Qatar

Cryptocurrencies are banned in Qatar.

Despite that the QCB has prohibited trading cryptocurrencies in the country, Qatar will host a blockchain conference in Doha. Moreover, there are a number of local blockchain-focused startups there: The country considered using the technology after a number of neighboring countries cut ties with it over Qatar’s alleged support of terrorism in 2017.

qatar blockchain cryptocurrencies
Source: CoinTelegraph

Saudi Arabia

Cryptocurrencies are deemed illegal inside the Kingdom of Saudi Arabia.

Similarly to Qatar, the local ban on trading cryptocurrencies does not stop Saudi Arabia from experimenting with blockchain within its Saudi Vision 2030 program designed for long-term economic development.

Iran

In May, local media reportedthat over $2.5 billion had been sent out to purchase virtual currencies in Iran.

iran blockchain cryptocurrency
Source: CoinTelegraph

Iraq

iraq blockchain cryptocurrencies
Source: CoinTelegraph

Across the Region

middle east cryptocurrencies blockchain
Source: CoinTelegraph

UAE’s ADAB Solutions eyes $ 18.7 mln from ‘halal coin’ ICO (Salaam Gateway), Rated: A

UAE-registered ADAB Solutions plans to issue its own Shariah-compliant cryptocurrency and is targeting to raise a maximum of $18.7 million by the end of its initial coin offering (ICO) period on Dec 28, the company’s deputy CEO of Islamic finance Maxat Salpyn told Salaam Gateway.

Canada

Company Claims Executive Stole Millions in Cryptocurrency (Live Bitcoin News), Rated: A

A former COO of a Vancouver-based marketing company has been ordered to return a laptop that may contain millions in cryptocurrency.

The ex-COO is Jason Bradley Arnold, and he’s been taken to court by his former employer, Shair.Com Global Digital Services Ltd., over some missing cryptocurrency. Shair.com is an online publishing and marketing company, and Arnold was brought in as COO in 2011.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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