Daily News Digest Featured News

Wednesday October 31 2018, Daily News Digest

millennials cryptocurrency
Source: Edelman

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United States

International

European Union

Southeast Asia

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News Summary

United States

Bitcoin steady after worst day in nearly 3 weeks (MarketWatch), Rated: AAA

A day after suffering its biggest 24-hour decline in nearly three weeks, the bitcoin showed signs of stability on Tuesday.

A single bitcoin BTCUSD, +0.03% was last changing hands at $6,275.37, up 0.2% since Monday at 5 p.m. Eastern Time on the Kraken exchange.

Monday’s drop of more than 2% brought the total value of all cryptocurrencies back toward $200 billion, according to data from CoinMarketCap.

Ten years of bitcoin (Reuters), Rated: AAA

Bitcoin, the world’s first and most famous cryptocurrency, celebrates its tenth birthday on Wednesday.

Oct. 31, 2008 The still-unidentified Satoshi Nakamoto releases a nine-page academic paper that sets out how bitcoin would work. “Bitcoin: A Peer-to-Peer Electronic Cash System” also gives the first description of the blockchain decentralized ledger, the technology that underpins the digital currency.

Jan. 3, 2009 Nakamoto mines the first “block” of bitcoins on the blockchain. Days later, Nakamoto sends bitcoins in its first ever transaction.

May 22, 2010 Software developer Laszlo Hanecz buys two pizzas for 10,000 bitcoins, widely seen as the first time the digital currency is used for its intended purpose – the purchase of goods.

July 17, 2010 Mt. Gox is launched, which eventually becomes the world’s largest bitcoin exchange, prior to going bankrupt in 2014.

Nov. 28, 2013 As media attention intensifies, Bitcoin tops $1,000 for the first time. It falls below that level only days later, and does not reach the landmark again for over three years.

Aug. 1, 2017 Bitcoin’s underlying software code splits to create Bitcoin Cash, a clone of bitcoin.

Dec. 10, 2017 Bitcoin hits its record high of $19,666 on cryptocurrency exchange Bitstamp, the high water mark of a frenzied year that sees bitcoin climb by more than 1,300 percent as retail investors scramble to buy.

Bitcoin Trader Pleads Guilty Over Unlicensed Exchange Business (CoinDesk), Rated: A

A 21-year-old bitcoin trader from California has pleaded guilty to operating an unlicensed money transmission business and now faces a maximum of five years in prison.

According to a news release issued Monday by the Attorney’s Office of the Southern District of California, the trader, Jacob Burrell Campos, admitted as part of a plea deal that he had operated a bitcoin exchange without registering the business with the Financial Crimes Enforcement Network (FinCEN).

Second Bitcoin Embassy In US Opens in New Hampshire (NHPR.org), Rated: B

A Bitcoin Embassy, where people and businesses can learn more about the cryptocurrency, has opened its doors in Keene.

The facility, located inside a gift shop on Rt. 101, will offer classes for both individuals and businesses looking to know more about the money that’s sometimes described as “cash for the internet.”

Venerable cryptocurrency exchange raises $ 300 million to expand coin offerings (BizJournals), Rated: AAA

Cryptocurrency exchange Coinbase has raised $300 million. The company plans to use the money to add more tokens to the platform and to expand to other countries.

Coinbase Expects $ 456 Million in Profits For 2018, Up From $ 380 Million in 2017 (CryptoGlobe), Rated: AAA

San Francisco-based digital asset exchange, Coinbase, is reportedly expecting a revenue of around $1.3 billion for this year. This, according a document Bloomberg recently reviewed.

This year, however, the crypto exchange is expecting to earn even more as it has projected a profit of about $456 million in 2018.

Coinbase Wants To Use Its Huge New Funding To Fix Bitcoin’s Problems (Forbes), Rated: A

Bitcoin and cryptocurrency seem to have gained more problemsthan solutions so far this year, but now the San Francisco-based bitcoin exchange and wallet provider Coinbase wants to use its huge new funding round (valuing the startup at a staggering $8 billion) to solve many of those big issues.

Coinbase is now valued higher than the workplace messaging app Slack (at $7.1 billion) and online grocery delivery company Instacart (at $7.6 billion).

Electroneum (ETN) Token Investors Making the Case for Coinbase Listing (Bitcoin Exchange Guide), Rated: A

Electroneum (ETN) is set to become one of the newest cryptocurrencies to feature on Coinbase, and there are several good reasons behind this.

  • ETN Complies With KYC Standards
  • ETN Is Compliant With The Law
  • ETN Is Easy to Upgrade and Scale – Electroneum is venturing into a market that has at least 350 million potential customers.
  • ETN Has a Large Market of Potential Customers – It is estimated that there are over 350 million people using smartphones in the developing world, and Electroneum is poised to carve out a fraction of this market. The company already has over 2.5 million users from all over the world. However, its analysts estimate that it may attract as many as 100 million customers over time as it expands its services. What’s more, Price Waterhouse Coopers estimates that the company could unlock a market potentially worth over $3 trillion.

Coinbase Is Currently Hiring Developers to Create a Mobile Professional Trading App (Bitcoin Exchange Guide), Rated: B

Mobile is the future or at least that is what Coinbase seems to believe. The company, which is the major U.S.-based crypto exchange, is now seeking staff to create a platform for professional trading that can be used on mobile devices.

The US Government Maintains a Fork of Bitcoin (CCN), Rated: A

The US National Institute of Standards and Technology (NIST) and other government bodies play a role in Bitcoin and other cryptocurrencies.

For starters, SHA-256 and most other hashing algorithms using in cryptocurrencies have been reviewed and tested by the Institute in the past. Independent cryptographers are frequently consulted by government agencies and scientists. The NSA and NIST occasionally conduct competitions for the development of new cryptographic software. The most recent winner was an algorithm called Keccak, but it is now most often referred to as SHA-3. The majority of hash functions that are submitted to these competitions see use, often wide use, regardless if they win or not.

Peter Mell of NIST wrote a paper in recent times entitled “Managed  Blockchain Based Cryptocurrencies with Consensus  Enforced Rules and Transparency.”

Early bitcoin investors count winnings after volatile decade (Reuters), Rated: A

Seven years ago, Marshall Hayner gave his grandfather one bitcoin, worth about $30. On the paper wallet he fashioned to commemorate the gift, the U.S. entrepreneur and software developer wrote: “Do not open until $100,000.”

It made Hayner’s grandparents laugh, and indeed bitcoin has not come anywhere near that level. But it is worth more than 200 times what it was in 2011 when Hayner made the gift.

Vaughn Blake, a Los Angeles-based portfolio manager at private equity firm Echo Tree Capital, liquidated his cryptocurrency quantitative fund in January this year when bitcoin was at $13,000. He started investing in bitcoin in 2013 when it was around $120 but said he has been a victim of hacks and phishing attempts.

Litecoin’s hash rate has grown 750% over the last year (Blockmanity), Rated: A

Litecoin, also known as a sidechain of Bitcoin, has seen a tremendous growth of hash rate since October 2017. The current hash rate is at 238 Terahash, which more than 750% than last year same date. Increased adoption of cryptocurrencies is one of the major contributing factors.

New Ad From Ripple Mocks Slow Speed of Banks As XRP Platform Launches Instant Crypto Payments Via Text (The Daily HODL), Rated: A

Ripple just released a new advertisement showing how slow it can be to move money in the digital age.

According to the ad, the current financial system is so outdated, banks could better serve their customers by hopping on a plane to transport cash from one place to another.

XRP Text allows users to send XRP to a personal wallet and then instantly send XRP to any mobile phone number, even if the recipient has never used the platform.

25% of ‘affluent’ millennials hold cryptocurrency (Yahoo! Finance), Rated: AAA

A full quarter of affluent American millennials are using or holding cryptocurrency. That’s among the findings in the Millennials with Money report from Edelman.

The survey defines affluent millennials as aged 24-38, making $100,000 in individual or joint income, or having $50,000 in investable assets.

An additional 31% are interested in using cryptocurrency.

millennials cryptocurrency
Source: Edelman

See the full report here.

BitGo Blockchain Asset Custody Provider Adds Digix’s Gold-Backed Crypto Token DGX Support (Bitcoin Exchange Guide), Rated: A

In another piece of welcome news for the crypto sector at large, it has now come to light that crypto wallet provider, BitGo, has recently partnered with Digix to bring its gold backed stablecoin ‘DGX’ onto its native service platform.

What crypto investment firms are telling clients during a bear market (Yahoo! Finance), Rated: A

It has been a brutal year for cryptocurrencies. Bitcoin (BTC) is down 54% this year, which is better than how the rest of the larger market-cap coins have fared: ether (ETH) is down 74%; XRP is down 78%, bitcoin cash (BCH) is down 82%; litecoin (LTC) is down 78%.

New Wave’s sales pitch: crypto investing for regular folks, not just the accredited investors (people with minimum annual income of $200,000 or net worth of $1 million) to whom institutional firms have limited their crypto products. New Wave’s minimum investment is $100.

crypto investment firms
Source: Yahoo! Finance

How Psychology Affects Consumers’ Use of Cryptocurrency (Psychology Today), Rated: A

Along with a steep decline in the value of the most popular cryptocurrencies like Bitcoin, Litecoin, and ether, the hype surrounding them has died down considerably in recent months. Yet cryptocurrency remains the most innovative and potentially transformative form of digital money. It has the potential to move us towards an entirely cashless existence as consumers in the not-too-distant future.

Could Blockchain Innovations Improve Latency And Inefficiency In Banking? (Forbes), Rated: A

Ah, latency. That seven-letter word takes nearly seven seconds to say and what feels like forever to settle. In simple terms, latency is the delay before data is moved. In the banking world, latency is the time it takes for money to move across a ledger, which is a book of accounts where transactions are balanced.

Another area I believe the banking industry is lagging on is money management services. It’s still common for brick-and-mortar banks to have someone in a suit selling financial services and advice. I feel people should just as easily be able to log in to their mobile device and download a financial app to eliminate the need for that type of in-person service.

Ron Paul Calls for Exempting Cryptocurrencies from Capital Gains Tax (Blockmanity), Rated: B

Ron Paul, author and former U.S Representative has called for exempting all Capital Gains Tax for Precious metals and Cryptocurrencies.

International

Cryptocurrency Market Update: Birthday Bitcoin Stays Over $ 6,000 for a Year (NewsBTC), Rated: AAA

Bitcoin has found support above $6,300 for now and has stayed there for the past 24 hours remaining flat on the day. The bears are still dominating things so a further decline to $6,200 could be imminent. Ethereum has extended its losses and remains under $200 at $197 at the moment.

In the top ten only Monero has managed to claw back anything, and that is only 1.2% to just over $100. The biggest loser is Cardano again as ADA slips closer to dropping out of the top ten.

Dash is currently making the best recovery with a 2.5% gain to $156. Still falling is VeChain with a further loss of 2.5% during the morning’s Asian trading session. Just outside this area of the chart at 21 is OmiseGO has also made nearly 4% back today.

Slight Slump in Markets Continues, Ethereum Trades Below $ 200 (CoinTelegraph), Rated: AAA

Tuesday, Oct. 30: Crypto markets are mostly trading sideways after the recent drop-off that took place on Monday, Oct. 29. The top 20 cryptocurrencies by market cap are seeing mixed signals with insufficient fluctuations, with total market capitalization hovering around $203 billion.

After dipping below the $6,400 threshold yesterday, Bitcoin (BTC) has been trading around $6,330 for the most part of the day. As of press time, the major cryptocurrency is slightly down 0.13 percent, and is trading at $6,299, with an intraday high of $6,364.

Ethereum (ETH) is down around 0.27 percent over the past 24 hours, trading at $196 at press time. The second cryptocurrency by market cap dipped below the $200 price point yesterday, and has since been hovering around the same levels. Recently, Cointelegraph reported that the Ethereum Enterprise Alliance (EEA) released new standard specifications for developers using the Ethereum blockchain.

Ethereum

Have All ICOs Sold Out? A Look At The Altcoin Survivors (NewsBTC), Rated: A

Since the ICO boom, Forbes reported, over 800 blockchain projects have raised around $20 billion via the sale of their bitcoin-like own tokens. But how much of this money has survived or have been put to use has little-to-no evidence. MobileGo, for instance, raised a whopping $53 million in tokenized crowdfunding to build a video betting and e-sport platform. And the project founders, Sergey and Maxim Sholom, have not conducted any independent audit yet to show where the $53 million has gone.

According to Deadcoins, a website that indexes non-functional coins, there are over 1,000 ICOs that have already bitten the dust.

Infinito Wallet Launches Multi-Blockchain API for Developers (Ethereum World News), Rated: A

Infinito Wallet, the universal wallet for major smart contract blockchains such as Ethereum (ETH), NEO, EOS, and Cardano, has released its Infinito Multi-Blockchain API as the first-step solution for service developers utilizing dApps and blockchain technology.

3 Applications of Cryptocurrency Beyond Peer-to-Peer Payments (my San Antonio), Rated: A

To be sure, digital currency markets have had their ups and downs. A recent study by Gallup shows that only 2 percent of investors are currently purchasing Bitcoin or other cryptocurrencies, but one in four is intrigued. With major banks betting on the space, however, that math may be about to change.

1. Investing in customer loyalty.

According to the 2017 Colloquy Loyalty Census, more than half of loyalty memberships in the U.S. are inactive. The report says approximately 30 percent of surveyed U.S. and Canadian consumers have left loyalty programs without ever redeeming a point or a mile.

2. Banking on accessory technologies.

Although most of the demand is currently in South Korea, at least one company plans to distribute some 100,000 point-of-sale machines by 2021.

3. Making change with ease.

Ashton Kutcher, in fact, recently donated $4 million in XRP tokens, a digital currency introduced by fintech startup Ripple, to the Ellen DeGeneres Wildlife Fund during his appearance on DeGeneres’s show.

How Maersk’s Bad Business Model Is Breaking Its Blockchain (Forbes), Rated: A

Maersk—the largest shipping container company in the world—took the bold step of forming a blockchain-enabled platform called TradeLens to transform the shipping industry. However, up until now, only a single shipper has signed on to use the platform, and it’s my view that few others will join. Although the concept is a natural fit for blockchain, the business model threatens to doom the project.

Anonymous ICO Founder Reportedly Stole Funds & Disappeared (cryptonews), Rated: A

The founder and chief architect of the Oyster Protocol has breached the project’s smart contract in order to create 3 million PRL tokens, which he immediately sold on cryptocurrency exchange KuCoin for a gain of around USD 300,000 before the rest of the team managed to shut down trading and withdrawals, the Oyster Protocol announced. Subsequently, the coin’s price has been tumbling down and its community is in uproar.

European Union

European investment firm buys digital exchange Bitstamp in all cash deal (IOL), Rated: AAA

NXMH, a Belgium-based investment company, has acquired digital currency exchange Bitstamp in an all cash deal, the exchange’s chief executive officer Nejc Kodrič said on Monday.

Kodrič declined to disclose terms of the deal, which was signed on October 25. In 2016, Bitstamp was valued at $60 million, up from a 2014 valuation of $39 million, according to Kodrič.

Ethereum Price Analysis: ETH/USD Below $ 200, Path to $ 75? (Ethereum World News), Rated: AAA

In the last week and day, Ethereum price is down 3.5 percent and 1.1 percent respectively as price action dash expectations.

Ethereum price
Source: Ethereum World News

The Godfather of Ethereum ICOs Wants to Let Investors Take Their Money Back (CoinDesk), Rated: A

Speaking in Prague on Tuesday at Devcon4, ethereum’s annual developer conference, Fabian Vogelstellerproposed a “reversible ICO,” or RICO, that would allow token investors to take back their funds at any stage in that project’s lifespan. Specifically, the concept involves the creation of a special-purpose smart contract that allows investors to “reverse their funding commitment.”

Ethereum Foundation donates $ 150,000 to Ethereum Classic (AMBCrypto), Rated: B

On October 30, Ethereum announced a donation of 15,000 ETC to Ethereum Classic Cooperative on Ethereum Special Projects official Medium blog.

WEX Funds Frozen on Binance amid Suspicions of Attempted Exit (cryptovest), Rated: AAA

The WEX exchange may be on the verge of collapsing as trading has ground to a halt and funds have been noticed leaving the cold wallets in an attempt to sell on Binance and move on. The exchange chat draws in users attempting any type of withdrawal, and one has even issued death threats against the WEX team.

For months now, the exchange, which has only run for a year, has been viewed as unstable, not allowing withdrawals in dollars. For that reason, some users are attempting to buy Bitcoin (BTC) or Tether (USDT), possibly awaiting permission from the exchange to move the funds. This has led to BTC prices of $8,624.99, while USDT, a dollar-pegged coin, trades at $8.92.

Binance accused of helping launder stolen funds from Wex users; CZ freezes their accounts (AMBCrypto), Rated: A

Changpeang Zhao, the co-founder and CEO of Binance, the biggest cryptocurrency exchange platforms by trading volume, has effectively stopped a scam from taking place. This comes after a cryptocurrency investor, Joseph Young, pointed out an exit scam on his Twitter handle.

Crypto Wallet Maker Ledger to Expand Support for Stablecoins, Including Tether (CoinDesk), Rated: A

Ledger, the hardware cryptocurrency wallet maker, plans to add support soon for more stablecoins, including expanding tether (USDT)’s usability across all its products and services, executives said.

Sweden Mulls Testing Central Bank Digital Currency Project E-Krona (cryptovest), Rated: A

Sweden’s central bank, the Riksbank, has moved its central bank digital currency (CBDC) project called e-krona a step forward by proposing a test aiming to choose the appropriate technology as well as to see how e-krona can fulfill several parameters including scalability and security. According to the second e-krona report, which was released on Friday, the trial should take place in 2019-2021.

e-krona
Source: Riksbank

See the full report here.

Why The Swedish Central Bank Sees The Need For Digital Currency (Market Exclusive), Rated: B

As mentioned in the e-krona project report, the use of banknotes and coins is declining in Sweden. At the same time, technological advances in electronic money and payment methods are proceeding rapidly. Therefore, the Riksbank is investigating whether Swedish kronor need to be made available in electronic form.

Smart Valor Working on First Stablecoin Backed by Swiss Franc (cryptovest), Rated: A

Swiss-based blockchain startup Smart Valor, which operates a marketplace for security tokens and tokenized alternative assets, announced on Monday it had initiated a project that would make it the first digital asset platform supporting a stablecoin backed by the Swiss franc (CHF).

United Kingdom

UK’s Cryptoassets Taskforce To Consult On Effective Regulation By Q1 2019 (Forbes), Rated: AAA

The U.K.’s Cryptoassets Taskforce has released a report stating that cryptoassets pose a range of risks, particularly to consumers and market integrity, and that “strong action” is needed to address them.

cryptoassets
Source: UK Cryptoassets Taskforce

Read the full report here.

UK Government Moots Ban on Cryptocurrency Derivatives (Bitcoin.com), Rated: A

The U.K. government is considering a ban on cryptocurrency-linked derivative products. The Financial Conduct Authority said in a report on Oct. 29 that it will begin consultations on whether to ban the sale of derivatives based on digital coins like BTC as well as to restrict crypto-based contracts of difference to the public. Virtual currency futures and options will also be looked into, in discussions slated for the first quarter of 2019.

UK government taskforce commits to distributed ledger technologies (ComputerWeekly), Rated: B

A UK government taskforce comprising the Treasury, the Financial Conduct Authority and the Bank of England has concluded that all three organisations should continue to support the development of distributed ledger technologies (DLTs).

China

Why did NEO launch 2 new token on their network – CNEO and CGAS? (Captain Altcoin), Rated: A

The tokens with the names CNEO and CGAS are compatible with the protocol NEP-5 and should make Smart-Contracts even more useful for users, the C in the name therefore stands for Contract. With the new coins, the functionality of the Smart-Contracts will be significantly improved, as direct payments via the Smart-Contract will be possible. The use of these digital contracts on the NEO platform is increasing and at the same time more and more dApps are appearing on the NEO system. In the last 9 months the number of applications has more than doubled.

Chinese Activists Are Using Blockchain to Document #MeToo Stories (Harvard Business Reviews), Rated: A

Data integrity is the main benefit conferred by blockchain technology, and a few questions can help determine whether that’s a particular problem for a given business or use case:

  1. If the data that my business collects is corrupted, how much do people suffer?
  2. Do outsiders (perhaps hackers) have incentives to distort or change the data that my business is based upon?
  3. How much does my business depend on other people being able to trust the data on which it is built?
Australia/New Zealand

Why Bitcoin investors should feel pretty stupid right now (News.com.au), Rated: AAA

TODAY marks a monumental threshold in the history of the cryptocurrency Bitcoin. For the first time in ages, Bitcoin is lower than it was a year earlier.

Bitcoin slump
Source: Supplied

New Zealand Gov’t-Backed Institute Issues Grant to Crypto Wallet and Trading Service (CoinTelegraph), Rated: A

New Zealand’s state-backed innovation institute Callaghan Innovation awarded a $330,000 grant to a local crypto wallet and trading service, according to a press release published Tuesday, Oct. 30.

Callaghan Innovation issued an “R&D Project Grant” to local crypto wallet and trading platform Vimba, a rebranded version of former MyCryptoSaver. Following the grant, the crypto startup is reportedly set to expand its offerings, as well as to list more cryptocurrencies and enable multi-signature crypto wallets.

DigitalX provides update on ICO litigation in Australia (Finance Feeds), Rated: B

The company says it has received a request for mediation from the plaintiffs in a $1.83 million case.

Australian Crypto Startup Invites Steve Wozniak to ‘Digital Currency [Holiday] Town’ (Yahoo! Finance), Rated: B

An Australian travel tech startup has invited Apple co-founder Steve Wozniak to Agnes Water and Town of 1770, the country’s first digital currency towns.

Brisbane-based TravelbyBit extended the invitation after the American inventor expressed his interests to travel the world using nothing but bitcoin, as reported by local publication Micky. The company, which enables businesses to accept bitcoin and helps travelers explore the world on cryptos, recommended Wozniak to use their portal to book flights to the beach towns in Australia’s Central Queensland region.

Asia

Bitcoin can push global warming above 2 degrees Celsius by 2033 (India Times), Rated: AAA

Implementing Bitcoin at similar rates at which other technologiesNSE 5.05 % have been incorporated could alone produce enough emissions to raise global temperatures by two degrees Celsius as soon as 2033, according to a study.

Japanese financial regulator does not consider stablecoins as cryptocurrencies (FXStreet), Rated: A

The Japanese Financial Services Authority does to classify stable coins as virtual currencies regulated by the effective legislation, rules, and regulations applicable to crypto industry, Bitcoin.com reports. The bill for virtual currencies, approved in April 2017, covers digital assets that are used as a medium of exchange and exempted from consumption tax. Meanwhile, stablecoins are not regulated like other digital money:

“In principle, stable coins pegged by legal currencies do not fall into the category of ‘virtual currencies’ based on the Payment Services Act,” FSA explains.

ICON’s Blockchain Seoul Project: How Decentralized Voting Works (Blocklr), Rated: A

ICON’s Blockchain Seoul project collaborates with the Seoul Metropolitan Government to demonstrate voting on blockchain. The project was showcased at the Blockchain International Digital Festival.

StarkWare Raises $ 30 Million to Solve Blockchain Privacy and Scalability Issues (NewsBTC), Rated: A

StarkWare, an Israel-based blockchain specialist which commercializes a zero-knowledge proof system, has secured $30 million from high profile names within the cryptocurrency ecosystem, including Consensys, Coinbase Ventures, Intel Capital, Pantera, and Sequoia.

Coincheck Reopens New Signups, Deposits and Withdrawals of ‘Some’ Cryptocurrencies (CoinTelegraph), Rated: A

Monex Group, the Japanese internet broker that purchased hacked cryptocurrency exchangeCoincheck, announced it had reopened new account signups and limited trading in a statementTuesday, Oct. 30.

Binance Boss Talks Crypto and Blockchain at Forbes Global CEO Conference (NewsBTC), Rated: B

The Forbes Global CEO Conference has just started in Bangkok, Thailand, and participants have already entered various discussions. As always, the aim is to solve, but also present, various problems, and share their views of where the world of technology, business, and entrepreneurship is going next. One of the 400 attendants was Changpeng Zhao, the CEO of cryptocurrency exchange called Binance.

Blockchain: The Game Changer of Real Estate Sector (Entrepreneur), Rated: A

Blockchain technology has created a huge buzz across the world, a fair amount of articles have also been published about blockchains, bitcoin and related technologies. For many real estate professionals, it has become a part of a brave, current, confusing world of technology. Similar to the original internet, the blockchain has become a revolution in technology that will not only touch base with all the people but it will connect with all the businesses as well.  Although blockchain is a world-renowned phenomenon, still many don’t understand what the blockchain is. To give it a better perspective, blockchain makes the data more secure with absolutely no chance of forgery as the information provided is same across multiple computers/ servers publically.

MENA

Ripple to open office in Dubai by EoY 2018, has signed 200 financial institutions, reveals executive (AMBCrypto), Rated: AAA

Rao revealed that Ripple was going to be setting up an office in Dubai “before the end of the year”, and provided an introduction to the Internet of Value.

He confirmed that Ripple has signed up close to 200 institutions “around the world” with “many of them” from the Middle East. Calling it the “fastest growing marketplace”, Rao revealed that Ripple’s clients included the largest Islamic bank in Saudi Arabia known as Al-Rajhi, and Kuwait Finance House.

eToro Kicks Off Binance Coin (BNB) Trading (cryptovest), Rated: A

eToro announced on Monday it had added Binance Coin (BNB) to its list of tradable cryptocurrencies, becoming the first external platform to introduce support for this native coin and offer it to investors for trading with fiat currency.

Eurasia

Data Shows Millions Leaving Crypto Wallets Tied to Long-Troubled Exchange (CoinDesk), Rated: AAA

The world’s largest cryptocurrency exchange Binance has frozen accounts that received more than 93,000 ether from two wallets indirectly linked to the troubled Russian exchange WEX.

And at least $18 million is now believed to be at risk, based on the market value of the ether that flowed into Binance. The total figure could be higher, since only ether has been spotted leaving WEX-linked wallets so far, and users have been unable to withdraw most other coins for months.

Russia’s Financial Watchdog to Oversee the Cryptocurrency Industry (Bitcoin.com), Rated: A

Rosfinmonitoring, as the regulator is known in Russia, plans to register, license and monitor cryptocurrency exchanges, crowdfunding platforms and providers of wallet services for digital assets, Russian media outlets have reported.

The minimum value of cryptocurrency transactions that will trigger regulatory action has yet to be determined, but the agency has said that it will track deals involving the transfer of 600,000 rubles (~$9,000) or more. It has been reported, however, that transactions below 15,000 rubles, or around $230, may remain anonymous.

Canada

SME Funding Platform Investx Plans ‘Ethical’ ICO (CryptoGlobe), Rated: AAA

Replicating a model first conceived by Holo, which completed an ethical ICO in April 2018 and raised $20 million to fund its distributed computing platform, Investx are hoping to also raise $20 million to fund a blockchain-based SME fundraising platform.

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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