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This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. With a new focus on security tokens and financial regulation, Keynote delivers their seventh World Blockchain Forum, the first ever in New York. Final ticket release begins 29th May. Having produced two of 2018’s biggest bitcoin and blockchain events in Miami and Dubai, Keynote is honored to bring the World Blockchain Forum to the Big Apple as they host the first [WBF: Security Tokens & ICOs] on 12th and 13th June. Held at Manhattan’s Metropolitan West, the intimate two day event includes a change in format with ‘ICO Pitch Panels’, where ICO projects will use a panel discussion platform to showcase their product moderated by blockchain visionary Moe Levin. Attendees will experience a comprehensive introduction from high profile industry experts including Vanessa Grellet, Bruce Fenton and Salil Donde, knowledgeable in not only blockchain and financial regulation but the complexities of Wall Street, offering invaluable insight into the future of security tokens. Announcing lead partnerships with Victory Square Technologies and Polymath, this WBF speaker line up is set to deliver a groundbreaking agenda rounded off by Victory Square Director Peter Smyrniotis awarding the top 3 ICO/STO panelists with $100,000 shared investment. In addition, WBF Dubai Environmental Sponsor Climate Futures, will return for WBF New York, after having retired over $14,000 in 1PLANET tokens to balance the carbon footprint of over 600 international flights to Dubai. In a saturated environment of corporate blockchain events en masse, WBF maintains its 7-year long ambition to connect individuals and develop international relationships, giving sponsors a personal and rewarding experience long term. Projects wanting to exhibit alongside WBF regulars bitcoin.com and Academy School of Blockchain are advised to move quickly to secure limited last space in the vibrant Exhibiting & Networking Hall. For final sponsorship and exhibiting availability please contact Tom Lunn at [tom@keynote.ae] WBF New York speakers include: Alex Mashinsky – Founder & CEO, Celsius Bruce Fenton – Founder & CEO, Chainstone Labs Salil Donde – CEO, AlphaPoint Nick Spanos – Co-founder, Zap.org Trevor Koverko – CEO, Polymath Vanessa Grellet – Executive Director, ConsenSys Halsey Minor – Founder, CNET Oliver Gale – Executive Director, Bitt Dawn Newton – COO, Netki Veronica McGregor – Partner, Goodwin Paul Puey – CEO, Edge Jason King – Co-founder, Academy Gabriel Abed – Chairman, Bitt Steve Dakh – Ethereum, Aeternity, Kryptokit “Though bitcoin and blockchain technology is rapidly becoming more understood, security tokens remain a black-box to most people. Which is strange, because as far as I can tell, the only real way to unlock the next trillion dollars of value in the ecosystem is by digitizing the traditional financial world through security tokens.” said Moe Levin, Founder and CEO of Keynote. “Showcasing the best and brightest in the industry has been the aim of Keynote since 2012, and we’re excited to be bringing the 7th edition of the World Blockchain Forum to New York City.” For a full list of speakers visit: newyork.keynote.ae/speakers/ Last tickets can be purchased at: newyork.keynote.ae/tickets/ About Keynote Keynote was launched in 2012 by blockchain strategist Moe Levin. Further information and details about Keynote and their events can be found at keynote.ae For media inquiries, please contact Amandah Hendricks at amandah@keynote.ae Supporting Link https://goo.gl/NNQVs5 This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post PR: World Blockchain Forum – New York’s Better Blockchain Conference appeared first on Bitcoin News. View the full article

Reuters reported Switzerland is formally considering the possibility of a state-backed cryptocurrency. Its government has asked legislators commission a study on the pros and cons of a Swiss “e-franc.” Also read: Alec Baldwin’s Lambo Movie Backed by Crypto Tech Switzerland Considers State Backed E-Franc Switzerland’s Federal Council explained why it was asking for a formal study of state backed cryptocurrency. “The Federal Council is aware of the major challenges, both legal and monetary, which would be accompanied by the use of an e-franc. It asks that the proposal be adopted to examine the risks and opportunities of an e-franc and to clarify the legal, economic and financial aspects of the e-franc.” Andréa Maechler That appears to be quite a turnaround for the Swiss. As little as just over a month ago, its central bank was making statements about crypto’s inherent instability. “Digital central bank money for the general public is not necessary to ensure an efficient system for cashless retail payments. It would deliver scarcely any advantages, but would give rise to incalculable risks with regard to financial stability,” warned Andréa Maechler of the country’s national bank. Nevertheless, the next step in the process involves parliament’s lower house. It will ultimately decide whether the request moves forward. Most countries considering the idea openly have sought state backed crypto as a means to run afoul of economic sanctions or as a way to deaden domestic enthusiasm for a currency beyond government control. Sanctions are not an issue for Switzerland, and the government has been rather open to the crypto revolution, comparatively. Not the First, Not the Last Venezuela is the most recent and notorious example of state backed crypto, and the only country to have implemented the idea. It launched the petro as a clear poke at US policy made against its present administration. The Maduro government used an ERC-20 token platform to launch the state backed crypto, which Mr. Maduro insists will be ultimately backed by barrels of oil. In addition, the government has announced special initiatives and incentives to encourage Venezuelans to adopt its usage. In the tightly controlled media of the country, figures and facts on the ground are hard to substantiate in terms of petro’s success. For its part, the Trump administration was unnerved enough to issue an Executive Order formally forbidding US citizens from holding the petro. Cédric Wermuth Regionally closer, Sweden has taken similar steps to that of Switzerland. Riksbank seems to be in an overt process of encouraging a completely cashless society, and Swedes appear eager to follow. A natural evolution of that idea, and to keep its citizens under the careful eye of government minders, a state backed crypto might just be the answer. Again, a Swiss crypto is by no means a foregone conclusion. Though influential politicians like Cédric Wermuth, Social Democratic Party vice president, have encouraged the study, the idea faces legislative obstacles. As Reuters notes, “In Switzerland, if the proposal is approved, a study will be produced by the Swiss finance ministry. No timing has been given on when it would be published should the go-ahead be given.” What do you think about state backed cryptocurrencies? Let us know what you think about this subject in the comments below. Images via Shutterstock. Want to see all those Memo posts and OP_Codes in the BCH Chain? Check out Bitcoin.com’s Block Explorer today! The post Switzerland Formally Considers State Backed Cryptocurrency appeared first on Bitcoin News. View the full article

The project that’s building a network for decentralized applications layer for the internet, Blockstack, has announced the launch of a new universal Dapp (decentralized application) store called App.co. The aggregated list of roughly 138 ecosystem-wide applications that offer utility by harnessing the benefits of decentralized technologies like blockchain, cryptocurrencies, IPFS, Zeronet, and more. Also read: EU Adopts Rules to Reduce Anonymity for Crypto Users App.co: An Aggregated List of Decentralized Applications One thing is for sure the internet is heading more and more towards a decentralized path every day. The team over at Blockstack project aims to make this technological trend and advancement flourish with their own systems and collaborating with other Dapps. This week Blockstack released its Dapp store called App.co which features a bunch of platforms tethered to the decentralized ecosystem. “Whether you are downloading Metamask to use an Ethereum dapp, or logging in with a Blockstack ID and granting a dapp access to your encrypted data storage hub, inherent to all these dapps is the true ownership of your data,” explains Blockstack. Dapps link developers and users directly, without middlemen hosting software or managing user data — We believe it is critical to drive everyday users to dapps that are ready for widespread adoption — That’s why we’re announcing the first ecosystem-wide, universal Dapp store. Currently, Blockstack’s List Has 138 Dapps The Blockstack Dapp store shows a wide variety of applications that do things like decentralized instant messaging, social media, developer tools, games, marketplaces, exchanges, and more. Dapps included in the store are Kyber, Yours, Ethlend, Cryptokitties, Peepeth, Stealthy, Steemit, Openbazaar and many more platforms. There are 138 Dapps on the store at the time of publication and creators can submit their platforms for review to get on the webpage. Decentralized networks used by some of the applications include Ethereum, Bitcoin Cash, Steem, Inter-Planetary File System (IPFS), Matrix, Bittorent, and others. Additionally, in the future, Blockstack hopes the App.co Dapp store will be as decentralized as the apps it hosts. The New York-based company states: Blockstack Public Benefit Corporation is curating and maintaining this Dapp store initially, but eventually we plan to include user ratings to rank dapps across the ecosystem — We want to democratize dapp development, and reward developers for great user experiences. “Decentralized apps represent the many doors people can walk through to enter the decentralized Internet. Each user may be enticed by different doors, depending on what they’re interested in or what they need fulfilled,” explain the Blockstack founders Muneeb Ali and Ryan Shea. What do you think about the Blockstack Dapp store? Let us know what you think about the store in the comments below. Images via Shutterstock, Blockstack, and App.co. Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today. The post Blockstack Launches Decentralized Applications Store appeared first on Bitcoin News. View the full article

The South Korean government reportedly plans to soften its crypto regulations in line with the policies set by the G20 nations in an effort to create “unified regulations.” The Korean regulators have also agreed to apply the standards set by the Financial Action Task Force to its crypto policies. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space G20’s Unified Crypto Regulations South Korea is reportedly planning to follow the policies set by the G-20 nations and soften its crypto regulations, the Korea Times reported. The G20 is an international forum for the governments and central bank governors. Its members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union. The top financial policymakers of these countries have agreed to acknowledge and regulate cryptocurrencies as financial assets, the news outlet noted, elaborating: Financial policymakers of G-20 nations have set a July deadline for the first step toward ‘unified regulations’ of cryptocurrencies. One reason for the move by the G-20 is that they see cryptocurrencies as ‘too small to jeopardize’ financial markets. The combined market value of cryptocurrencies is less than 1 percent of the global GDP. Financial Action Task Force Standards While the G-20 classifies cryptocurrencies as financial assets, the Korean government has earlier classified them as non-financial products due to their speculative nature. Acknowledging the differences, the country’s Financial Supervisory Service (FSS) was quoted expressing: It’s almost certain that cryptocurrencies will be classified as assets and the main issue will be centered on how to regulate them properly under the unified frame that will be agreed upon between G-20 nations. Given the current stance, this isn’t good, but we will step up efforts to improve things. South Korea has also agreed to apply to cryptocurrencies the standards of the Financial Action Task Force (FATF), an inter-governmental body formed to fight money laundering and terrorism financing, the publication conveyed. Softening Crypto Policies Recently, the new FSS chief indicated that he will ease the country’s cryptocurrency regulations. Governor Yoon Suk-heun said there are many positive aspects of cryptocurrencies, promising to release updates on this issue in the near future. Meanwhile, the country’s National Tax Agency has been collaborating with the finance ministry to collect tax data in order to establish crypto tax policies. While cryptocurrency transactions are currently tax-free in Korea, crypto operators are required to pay income taxes, the news outlet detailed. Despite the new FSS chief suggesting an easing of crypto regulations, his department has launched an investigation into crypto exchanges, in collaboration with other related authorities. In March, the prosecution arrested four employees of crypto exchanges including the CEO of Coinnest. Last week, they started investigating the country’s largest crypto exchange, Upbit. This week, three people were arrested from HTS Coin exchange for alleged fraud and embezzlement charges. Do you think South Korea will soon ease crypto policies? Let us know in the comments section below. Images courtesy of Shutterstock and the South Korean government. Need to calculate your bitcoin holdings? Check our tools section. The post South Korea to Follow G20 Unified Cryptocurrency Regulations appeared first on Bitcoin News. View the full article

Cryptocurrencies can now be traded on the peer-to-peer online marketplace Openbazaar in addition to physical goods, digital goods, and services. Initially, 44 cryptocurrencies are supported but the development team plans to add more over time. There is no fee for trading cryptocurrencies and no need to register with any service. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Crypto Trading on Openbazaar Peer-to-peer e-commerce platform Openbazaar’s development team, OB1, announced this week that fully decentralized, fee-free cryptocurrency trading is now available on the platform with the release of Openbazaar version 2.20. The platform previously had three types of listings: physical goods, digital goods, and services. “We’re now adding a fourth: cryptocurrency,” the team emphasized, elaborating about the new software version: The biggest new feature is the ability to buy and sell cryptocurrencies. Vendors are now able to use a special new listing type to sell cryptocurrencies on Openbazaar. They can choose from 44 different cryptocurrencies right now and more will be added over time. The main benefits of using Openbazaar to trade crypto, as detailed in the announcement, is that there are “no fees, no need to register with any service, and no threat of an exchange getting hacked,” so users “aren’t forced to reveal any identifying information.” “We’ve released this new feature with the goal of listening to the community about how they believe cryptocurrency trading on Openbazaar can be improved. We plan to rapidly iterate as we receive feedback from users,” the OB1 team conveyed. They also shared that since the launch of the crypto trading option, “we’ve seen users on the Openbazaar network from more than 60 different countries.” Not an Exchange, No Order Book However, the platform is “completely peer-to-peer” so “this is not an exchange,” Openbazaar developers admitted, adding that “the new feature only allows people to trade cryptocurrencies directly with each other at market prices.” It does not “include an order book with the ability to choose a target price for buying or selling,” the OB1 team clarified. Currently, the platform uses 3 different cryptocurrency payment types: Direct, Offline, and Moderated. “If a buyer trusts a seller they can just send their coins directly to them in a direct payment,” the developers described. For sellers who are offline at the time of payment, the Offline option allows them to claim their coins when they return. The Moderated option can be used when buyers do not know or trust the vendors. For crypto trading, the team reiterated: “Payment must be settled in whichever coin they [vendors] have chosen for their Openbazaar store, either bitcoin, bitcoin cash, or zcash.” What do you think of Openbazaar’s crypto trading option? Will you trade cryptocurrencies on Openbazaar? Let us know in the comments section below. Images courtesy of Shutterstock and Openbazaar. Need to calculate your bitcoin holdings? Check our tools section. The post Openbazaar Enables Decentralized Peer-To-Peer Trading of 44 Cryptocurrencies appeared first on Bitcoin News. View the full article

Russia’s Prime Minister Dmitry Medvedev has shed some light on the progress authorities are making towards adopting the long-awaited crypto regulations. Legislators will replace common words like “cryptocurrencies” and “tokens” with legal terms such as “digital money” and “digital rights”, he revealed. Two draft laws have been filed in the Duma. One of the bills is scheduled for first reading next week. Also read: EU Adopts Rules to Reduce Anonymity for Crypto Users Replacing “Slang” with “Strict Legal Concepts” The work on the Russian crypto regulations has been going on for some time, with unresolved questions and disagreements between institutions postponing their adoption. Two pieces of legislation have been filed in the State Duma, the lower house of Russia’s parliament – a bill defining crypto activities like initial coin offerings and mining, and a draft law amending the Russian civil code to regulate crypto transactions. According to Parlamentskaya Gazeta, the law legalizing token sales has been approved by the Financial Market Committee and will hit the House floor on May 22. Words like “cryptocurrency” and its derivatives have gained popularity beyond crypto communities, yet authorities around the world tend to avoid them. Russian officials are no exception. According to comments made by Prime Minister Dmitry Medvedev, the new Russian legislation on “digital financial assets” will not use the colloquial terms either, RIA Novosti and RBC reported. In a speech during the plenary session of the St. Petersburg International Legal Forum he said: We need to consolidate the basic provisions and translate them into the language of the law. Therefore, instead of common slang expressions such as “cryptocurrencies” and “tokens”, lawmakers are developing the more strict legal concepts of “digital money” and “digital rights.” Regulating Everything Is Counterproductive Medvedev emphasized that the ruble is and will remain in the future “the only legal means of payment” in Russia but admitted that “deals in the digital environment are a reality we can no longer ignore.” He added that the new regulations would help to ensure judicial protection against abuse, prevent the transfer of assets into an uncontrolled digital environment, and develop a basis for taxation. The head of the Russian government noted, however, that attempts to regulate everything are not effective in the digital world and authorities need а flexible legal regulation in this sector that does not hamper its development. “Prohibitions in the digital environment do not work because one can immediately find ways to circumvent them,” Dmitry Medvedev explained, quoted by ITAR-TASS. “It is quite difficult to enforce a ban,” he noted. “Attempts to regulate everything in the digital world be absolutely counterproductive and unrealistic. It is changing very quickly and we need to have flexible legislation that sets some basic terms without interfering with the development of the digital space. Finding this balance is probably the most difficult task,” the Russian Prime Minister admitted. Regulator Wants to Identify Users of Crypto ATMs While the fine tuning of the upcoming legislation continues in the Duma, other institutions are trying to push forward their own ideas for the new regulatory framework. Russia’s federal financial regulator, Rosfinmonitoring, has recently insisted on introducing mandatory identification for persons using the services of crypto exchange bureaus and Bitcoin ATMs. According to the Deputy-Director of the agency, Vladimir Glotov, the identity verification procedure for buyers and sellers of cryptocurrency should copy the identification process for traders of foreign currency. “This is, in fact, our job – we must see the person, look at his transactions and try to understand if they are related to money laundering or tourism financing,” Glotov said. The deputy head of Rosfinmonitoring added that in the case of cryptocurrencies, the vigilance of the regulatory bodies is especially important as digital coins provide anonymity. “That’s why we are very cautiously and we take part in all discussions,” Glotov told Prime. The official said he was also positive towards another initiative to expand the scope of the regulations. The Russian Association of Cryptocurrencies and Blockchain (RACIB) has recently proposed the creation of a special register of crypto investors and the assignment of Taxpayer Identification Numbers to all cryptocurrency traders in the country. Why do you think officials prefer to use different terms when referring to cryptocurrencies? Tell us in the comments section below. Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Cryptocurrencies to be Called “Digital Money” in Russia, Tokens – “Digital Rights” appeared first on Bitcoin News. View the full article

On May 17 the Digital Currency Group initiative and Over-the-Counter (OTC) cryptocurrency service, Genesis Global Trading, announced that Genesis was recently granted the New York state Bitlicense. The company that provides OTC solutions to institutional buyers can now operate freely in New York — A territory that many call, ‘the financial capital of the world,’ as Genesis aims to provide significant BTC, BCH, ETC, LTC, ZEC, XRP, and ETH liquidity in the state. Also Read: Bitcoin Cash Upgrade Milestone Complete: 32MB and New Features DCG Backed Genesis Global Trading Granted New York State Bitlicense Genesis Global Trading has announced the firm has been granted the Bitlicense, and the company will be allowed to operate in New York with other approved businesses such as Coinbase, Circle, and Itbit. The New York Department of Financial Services (DFS) approved the company and provided Genesis with the Bitlicense — which will allow the firm to trade the various digital assets it holds with institutional investors. Before the company was granted the Bitlicense the firm operated under the DFS “safe harbor” provision. Genesis was launched in 2013 and is backed by the venture capital organization the Digital Currency Group (DCG), a firm founded by Barry Silbert. The company is a regulated cryptocurrency OTC dealer that “provides access to institutional investors and high net worth individuals looking to buy or sell large sums of digital currencies.” Genesis has offered deep pools of liquidity, 24-7 trading, and same-day settlement since the company’s inception. “We are very pleased that DFS has approved the Genesis Global Trading BitLicense application,” said Michael Moro, CEO, Genesis Global Trading. Although we have operated under a safe harbor provision in recent years, today’s decision is an important step forward and reaffirms the robust compliance measures we have enacted as an established trading partner. Barry Silbert Hopes More Cryptocurrency Businesses Are Approved in NY Barry Silbert. To use the Genesis platform, traders have a $75,000 USD minimum deposit, and all users are subject to AML and KYC regulatory guidelines. In addition to being an approved brokerage service that can sell Bitcoin Core (BTC), the DFS has also approved to procure Zcash (ZEC), Ethereum (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH), Ripple (XRP), and Litecoin (LTC). Genesis also states the firm is also registered with the Securities Exchange Commission (SEC) and Finra as well. The Digital Currency Group’s founder Barry Silbert was excited for Genesis commenting on the subject over Twitter. “Congrats to the team at Genesis Trading on being granted a Bitlicense, joining Coinbase Circle, Ripple, Bitflyer USA, and Itbit,” Silbert states. Hoping to see the NYDFS ramp up their licensing pace so that NY does not continue to fall behind. What do you think about Genesis Global Trading receiving the Bitlicense? Let us know your thoughts on this subject in the comments below. Images via Shutterstock, Twitter, and Genesis Global. Want to see all those Memo posts and OP_Codes in the BCH Chain? Check out Bitcoin.com’s Block Explorer today! The post Cryptocurrency Brokerage Service Genesis Global Granted Bitlicense appeared first on Bitcoin News. View the full article

On May 17 the Akari Global Foundation, an organization that aims to promote the increased adoption of Bitcoin Cash (BCH), launched a payment platform for BCH acceptance called Akari-Pay Advanced. The launch of Akari-Pay reveals a one-file BCH payment/donate page that doesn’t require any coding knowledge to utilize the platform. Also read: Federal Reserve Pres: People Want Dollar, Not Volatile Crypto Akari Global Foundation Launches Akari-Pay, a One-File Bitcoin Cash Payment/Donate Page There have been lots of developments happening throughout the BCH community over the past 48 hours since the last upgrade. Now the Akari Global Foundation is helping push BCH adoption to the masses with its new BCH-based payment gateway. Akari says its mission is to help reduce the world’s economic oppression and increase freedom by leveraging the Bitcoin Cash network. Akari believes BCH offers many benefits most other cryptocurrencies cannot such as micropayments, low network fees, immutability, near instant settlement, and no chargebacks. The latest payment platform called Akari-Pay makes it easy for anyone to accept BCH payments or donations with a simple platform that doesn’t require a bunch of technical knowledge. “‘Akari-Pay Advanced’ for Bitcoin Cash, an extension of akaripay, has now been released,” explains the Akari Global Foundation. Raise funds for any project or goal using Bitcoin Cash — Simply self-host your donation page on your website — Easily link to it anywhere, use our included ‘donate buttons,’ if you wish. The Open Source Akari-Pay Is Free and Allows Customizable Themes In order to utilize the open source Akari-Pay protocol, users simply follow the instructions via the organization’s Github repository. Akari-Pay allows individuals and businesses to title and run a self-hosted BCH-centric funding page. Users can also specify a short description of why someone would donate or use the hosted BCH payment button. Additionally, Akari-Pay allows the user to set a goal that includes a graph, live updated donation count, and other features. Moreover, individuals and businesses using Akari-Pay can match the branding theme of their organization or nonprofit with customizable themes by simply editing certain text files. The Akari Global development team has released the platform as completely free software and the code is open for review. In addition to the latest Akari-Pay version, the team has released a demonstration video on how to use the donation bar, set goals, update totals, and customize a color scheme. Furthermore, Akari has set up a dev-chat channel in order to help people set up self-hosted BCH donation pages. The Bitcoin Cash community across social media and forums seems pleased with Akari’s latest launch that allows anyone with a website to add a donation/payment page for free that utilizes the BCH network’s peer-to-peer electronic cash system. The BCH payment button works for mobile phones, laptops, and desktops by simply uploading an HTML file to the desired server. Akari also provides its own HTML files and templates for users to create a payment gateway quickly if they don’t want to customize their payment page. What do you think about the Akari-Pay Advanced payment gateway? Let us know in the comments below. Images via Shutterstock, the Akari Global Foundation, and Akari-Pay. Want to see all those Memo posts, Blockpress posts, and OP_Codes in the BCH Chain? Check out Bitcoin.com’s Block Explorer today! The post Meet Akari-Pay: The BCH-Powered Website Payment Platform appeared first on Bitcoin News. View the full article

This year it appears crypto is ready for its close up. Hollywood has come knocking in significant ways. Alec Baldwin (The Boss Baby, SNL, Mission Impossible), Antonio Banderas (Shrek, Zorro, Spy Kids), and Oscar-winning filmmaker Bobby Moresco (Crash, Million Dollar Baby) are presently filming Lamborghini. It’s a biographical movie about Ferruccio Lamborghini, namesake behind the ecosystem’s favorite icon for crypto wealth. Fittingly, it’s also co-produced by Tatatu, a social entertainment company run on blockchain tech. Also read: Ver’s Sci-Fi Novel Life, Voorhees Buys Tucker’s Tie for $27k Alec Baldwin’s New Lambo Movie Is Fittingly Crypto Backed Hollywood heavy producer Andrea Iervolino explained, “Social networks and entertainment platforms are making huge profits by gathering data from their users and selling it to other corporations without rewarding their users. There is a need for a platform that provides higher levels of transparency to their users, brands, and rights holders about the revenues generated and monetization of users. Audiences need free, legal and quality content with a simple user experience.” Antonio Banderas Mr. Iervolino, a dashing 30 year-old Italian, was speaking of his latest venture, Tatatu, a social media company which he implies will run on a variation on the technology currently causing fainting spells in the corporate world, blockchain. Though these pages have given voice to severe skepticism about distributed ledgers’ real-world use cases, Tatatu claims it can use an immutable ledger to record transactions in an open setting, which could allow for fairer remuneration for content providers. They insist this will mitigate against piracy, a lingering concern for mainstream media. Ferruccio Lamborghini The nascent project has landed a co-producer credit, however, backing the major motion picture tentatively titled Lamborghini. Antonio Banderas stars as Ferruccio Lamborghini, while co-star Alec Baldwin plays antagonist and professional rival Ezno Ferrari. It was written by Oscar-winner Bobby Moresco, and is currently being filmed as of this writing. It will tell the story of Mr. Lamborghini from World War II through his creation of what the crypto community widely considers the ultimate sign of success, the vaunted Lambo. Should it eventually come to market, it will be the first major release to have a direct connection to crypto tech. Beyond Bitcoin Slate Entertainment Group (SEG) purchased the forthcoming (Spring 2019) documentary Beyond Bitcoin (Fulwell 73). SEG plans to run the doc on Binge, its blockchain-based, video on demand platform. Leo Pearlman of Fulwell 73 explains, “As a company, we are always looking for new and innovative distribution platforms, new ways to reach and engage with our audience and for the ideal partners for our content. Binge is the perfect fit for our film and is the natural place for viewers to find and engage with this content. The excitement for us as content creators is that they offer unprecedented transparency, cutting-edge analytics, and guaranteed payment terms, all of which empower producers like ourselves and offer a very different distribution option than those currently on the market.” Bitcoin.com CEO Roger Ver in Beyond Bitcoin Jake Witzenfeld directs, and the doc’s focus is on three principals: Bitcoin.com CEO Roger Ver, blockchainer Perianne Boring, and investor Ryan Radloff. For a calendar year, viewers follow the three as they attempt to foment financial revolution: scaling debate wars, ICOs, regulation, and whether blockchain or bitcoin is the real innovation. “We are thrilled to have Beyond Bitcoin on the Binge platform,” Michael Moyal of SEG detailed. “The film provides an objective look at the potential for blockchain to disrupt numerous industries including entertainment. We at SEG share the filmmakers’ conviction that blockchain technology will help to facilitate our goal of adding fairness and accountability to the production and distribution of documentaries, feature films and series.” Is blockchain technology the future of movie-making? Let us know your thoughts in the comments below. Images via Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Alec Baldwin’s Lambo Movie Backed by Crypto Tech appeared first on Bitcoin News. View the full article

Canaan Creative Co. Ltd, the Chinese company behind the Avalon lineup of hardware equipment which produces ASIC mining chips and rigs, has officially submitted a listing application to Asia’s third-largest equities market – the Hong Kong stock exchange. Also Read: HTC to Launch Its Own Cryptocurrency-Focused Smartphone, Exodus $1 Billion IPO Canaan posted a preliminary prospectus on Tuesday revealing it brought in a revenue of 1.3 billion yuan in 2017 and that its net income jumped over 600% to 361 million yuan. Morgan Stanley, Deutsche Bank AG, Credit Suisse Group AG and CMB International Capital Ltd. are named as joint sponsors of the proposed offering in the preliminary prospectus. The filing did not specify the amount Canaan will try to raise in the public offering but it is widely expected to be around $1 billion. The Chinese ASIC cryptocurrency hardware market grew to 7.3 billion yuan in 2017 from just 50 million yuan in 2013, Canaan revealed in the filing, and consultant Frost & Sullivan extrapolates, that it will reach 28.6 billion yuan by 2020. The exact target date for the stock listing Canaan has in mind was not made public, and might change along with other details as the matter is evolving, but a person with knowledge of the situation told Bloomberg the company aims to start trading as soon as July 2018, just about two months from now. Canaan to HK The Hong Kong market wasn’t the company’s only possible avenue for listing. Last year Canaan was known to be looking to list on China’s National Equities Exchange and Quotations, an over-the-counter market, and earlier this year it was reportedly examining its options for a US-based IPO. The company didn’t explain why it eventually picked Hong Kong but it is safe to assume that the less hostile regulatory approach on the island, compared to both mainland China and the US, played a part in the decision. Back in April, we reported that the company employs around 200 people in Beijing and Hangzhou, mostly in R&D, and is looking to hire more. Canaan might use its chip development know-how and capabilities to create an unexpected new lineup of products. These can include home appliances such as television sets that mine cryptocurrencies “while you sleep.” Other developments include chips to power artificial intelligence (AI) applications and of course new hardware for mining additional cryptocurrencies. Should all stock investors add an ASIC producer to their portfolio to get exposure to the bitcoin market? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Bitcoin Mining Manufacturer Canaan Files for Hong Kong Stock Exchange IPO appeared first on Bitcoin News. View the full article

Bitfinex, an exchange famed for its opaque banking arrangements, has begun ordering its users to submit their tax details. The platform, which is registered in the British Virgin Islands, a known tax haven, will retain this information and may share it with tax authorities in their customers’ jurisdiction. The news has caused quite a stir. Also read: Thailand Waives 7% VAT for Individual Cryptocurrency Investors Bitfinex Wants Your Tax Details In an email issued to a portion of its users, Bitfinex has outlined a new KYC policy. Not content with knowing the identity and location of its customers, it now wants their tax details. It has been stated that this is to accord with local laws in the British Virgin Islands (BVI) where the exchange is registered. The platform’s tax data gathering won’t stop there however: it notes that the BVI government “may then exchange that information with the tax authorities of the customer’s country of residence”. Up until a few months ago, Bitfinex didn’t even enforce basic KYC for its users. It’s now gone from being one of the laxest major exchanges to one of the most regimented, with a tax sharing policy that surpasses anything enacted by the likes of Coinbase or Bittrex. After Bitfinex’ new policy was called out on Twitter, the exchange clarified its position, explaining: “We have not sent this message to all users. We have deliberately targeted users that we believe have an obligation to self-disclose. If a user has _not_ received a message from us, she need _not_ self-certify anything to us at this time.” There appears to be an inference, however, that all users will eventually be obliged to comply. Bitfinex Users Plan a Boycott Predictably, a number of Bitfinex customers have stated their desire to boycott the platform and take their trading elsewhere. Due to increased regulation, coupled with the transparency that is inherent to blockchain technology, cryptocurrency users are already among the most heavily scrutinized investors in the world. Many feel that Bitfinex’ latest policy, regardless of its legal basis, is a step too far. Coming from an exchange synonymous with operating out of tax havens and failing to fully audit its Tether stablecoin, the irony of Bitfinex now wanting to audit its customers is not lost. If you’re a Bitfinex user, will you continue trading on the exchange in light of this news? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Bitfinex Starts Sharing Customer Tax Data with Authorities appeared first on Bitcoin News. View the full article

In today’s edition of Bitcoin in Brief we’re focusing on developments in the realm of international politics and economics regarding cryptocurrencies. The Organization of Economic Cooperation and Development is looking into the possible uses of digital coins and the associated technologies. Kazakhstan is calling for the adoption of common crypto rules by the United Nations, while Iran and Russia are thinking about using cryptocurrency in bilateral trade. Also read: Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates Komainu OECD Explores Cryptos and ICOs The Committee on Digital Economy at the Organization of Economic Development and Cooperation (OECD) has started exploring blockchain-based cryptocurrencies and Initial Coin Offerings (ICOs). The international body also wants to help governments of member-states develop and implement legislation aimed at protecting consumer rights in electronic trade. According to Elina Sidorenko, head of Russia’s interdepartmental group working to assess risks and opportunities associated with cryptocurrencies, the OECD will be used as a platform to discuss matters related to cryptos and token sales. These discussions will be held in the context of ensuring the safety of consumers of financial services, she said in a post on her Telegram channel. The OECD and the Financial Action Task Force on Money Laundering (FATF) recognize the role of cryptocurrency as a means of payment and accumulation, Sidorenko emphasized. Both organizations also view ICOs as a good mechanism to attract funding, she added. “I hope that the generally positive rhetoric on cryptocurrencies in the OECD will not change,” the Russian official said, promising to keep her followers informed on further developments. Astana Calls for UN Crypto Rules Kazakhstan’s President Nursultan Nazarbayev thinks that the time has come to adopt common, international rules on cryptocurrencies with the help of the United Nations. “Most countries are actively exploring the possibility to adapt their regulations to the current configuration of the financial system. At the same time, the disconnected actions of different states will lead to inefficiency. It is necessary to develop general rules,” he insisted, quoted by Zakon.kz. During the Astana Economic Forum, Nazarbayev noted that Kazakhstan’s own project to issue an assets-backed cryptocurrency called G-Global has won institutional support from international organizations. The initiative “has been mentioned on multiple occasions during the G20 summit. Last week the Council of Foreign Ministers at the Organization of Islamic Cooperation, which includes more than 50 nations, adopted a resolution to support it,” the president revealed. Kazakhstani officials have previously said that G-Global will be designed as a crypto “backed by assets, not just trust.” These assets have not been specified so far but the Central Asian country is rich in natural resources. Kazakhstan is the leading economy in the region, generating 60% of its GDP, primarily through the oil and natural gas industry. Recent reports that Kazakhstan’s central bank is preparing legislation to ban the sale and purchase of cryptocurrencies, as well as crypto mining, have been dismissed by representatives of the local crypto community. According to Leonid Muravjov, VP at the Blockchain and Crypto Technology Association of Kazakhstan, the government is actually spending huge amounts of money to digitize the economy, which is currently heavily reliant on the export of mineral resources. Kazakhstan and Belarus to Cooperate on Blockchain Astana and Minsk intend to strengthen their ties in the field of blockchain implementation. Kazakhstan and Belarus have signed a memorandum of cooperation that will allow experts from the two former Soviet republics to exchange experience and improve their competitiveness on the world stage through wider adoption of new technologies. Both countries are members of the Eurasian Economic Union (EAEU). “The bottom line is that this (blockchain) is a multinational technology, and the development of some real solutions, both at state level and in the private sector, does not make sense in the context of a single state. The memorandum aims to develop the most optimal solutions through exchange of experience and personnel, and to share already working solutions based on blockchain technologies and cryptocurrencies,” said Stanislav Baskov, Director of the Belarussian Distributed Ledger Technologies Association. According to a press release by Astana Hub, Kazakhstan’s IT Park, the agreement was signed during the international expo TIBO – 2018 in Belarus. It would allow Kazakhstan to take advantage of the Belarusian experience in blockchain and cryptocurrency integration. Recently, Minsk legalized crypto-related activities for entities registered with its Hi-Tech Park with a presidential decree that came into force on March 28. Iran and Russia to Create Crypto Alternative to SWIFT Recognizing the opportunity to minimize dependence on the US dollar, Iranian authorities have turned their attention to cryptocurrencies. Iran’s central bank has commenced work on proposals to use cryptocurrency in international trade, as requested by the parliamentary Committee on Economic Affairs, Interfax reported. “Cryptocurrencies offer a good opportunity to circumvent the use of the dollar, and also replace the SWIFT system,” said Mohamad Reza Purebrahimi, who heads the commission. Teheran has established cooperation with Russia on the matter following a meeting with the chairman of the Economic Policy Committee of the upper house of Russia’s parliament, Dmitriy Mezentsev. Purebrahimi said that the two countries may be the first to use cryptocurrency in bilateral trade transactions. “Against the backdrop of US pressure, the expansion of settlements in national currencies, as well as the possible use of payment systems like [the Russian] Mir and the Iranian Shetab is promising,” Mezentsev commented. According to official sources quoted in Moscow, Russia may put its version of SWIFT, the SPFS, on blockchain as early as next year. What are your thoughts on the highlights in today’s Bitcoin in Brief? Tell us in the comments section below. Images courtesy of Shutterstock. Bitcoin News is growing fast. To reach our global audience, send us a news tip or submit a press release. Let’s work together to help inform the citizens of Earth (and beyond) about this new, important and amazing information network that is Bitcoin. The post Bitcoin in Brief Thursday: OECD Explores Cryptocurrencies, Central Asian Powerhouse Calls for UN Crypto Rules appeared first on Bitcoin News. View the full article

It’s been well over a day since the Bitcoin Cash (BCH) network upgraded its protocol, and the consensus rules now come with a 32MB block size. Although the block size increase is quite a feat, BCH developers have also expanded the network’s default data-carrier-size to 220 Bytes and re-enabled some old Satoshi OP_Codes that were previously removed from earlier codebases. Now over the past 24-hours, lots of people have been playing around with the new BCH features. Also Read: Bitcoin Cash Upgrade Milestone Complete: 32MB and New Features Experimenting With the New Bitcoin Cash OP_Codes Lots of BCH community members have been discussing the new OP_Code features and the additional space added to the network’s default data-carrier-size. The first signs of people messing around with the new features came from the Memo and Blockpress developers as both platform’s increased posting character limit from 79 to 217. Both Memo and Blockpress (featured above) now have 217 characters. This means users of both social media applications can now post more content and everything is saved on-chain. Then shortly after the fork, another OP_Code feature was shown to the community by Openbazaar developer Chris Pacia. The First Tree Signature on the Bitcoin Cash Blockchain Pacia built the first tree signature on the Bitcoin Cash blockchain by utilizing the OP_CAT functionality — which creates a more efficient multi-signature combination. The Openbazaar programmer explains for addresses with a large number of keys, a tree signature can use less data. “For addresses with a large number of keys a tree signature can use less data. And unlike normal OP_CHECKMULTISIG, it doesn’t require you to expose the keys that were not used in the signing,” Pacia explains to the BCH community on May 15. Moreover, Pacia shows his demonstration via a block explorer URL which indicates it was a 1 of 8 multi-sig tree signature. Chris Pacia’s multi-sig tree. Many individuals were very impressed with the new multi-sig operation that shows innovation in multi-signature technology, and one that could add more BCH privacy in the future. Pacia details his example is a subset of MAST — which stands for ‘Merkelized Abstract Syntax Trees.’ MAST could improve BCH privacy because certain multi-sig scripts could be kept hidden. “This is like a subset of MAST,” Pacia explains. MAST is more general but can’t be done with the current opcodes as far as I know — If we had OP_EVAL then we could I think. An OP_Code Puzzle With a Message in the Script After the tree signature our Chief Technology Officer, Emil Oldenburg, also experimented with the Satoshi OP_Codes and created a ‘transaction puzzle.’ When the puzzle is solved it contains a secret message within the hashed script. “I made a fun little transaction puzzle with one of the new OP_Codes,” Oldenburg explains. The puzzle is solved with the string “BCH is the best Bitcoin”. The script is <String1> <String2> OP_XOR OP_HASH256 <hash1> OP_EQUAL. It’s solved by finding the secret String1 that when XORed with String2, after hashing should be equal to hash1. Etching the Bible’s 23,000 Verses Into the Bitcoin Cash Blockchain Lastly, another anonymous user is pushing the ‘arbitrary data spam debate’ to the ultimate level. The Twitter handle UK Cryptocurrency showed the cryptocurrency community that a BCH address is currently writing the first testament of the King James Bible to the Bitcoin Cash blockchain at 1sat/Byte. Looking at the Bitcoin Cash transaction ID its Memo states: 1 In the beginning, God created the heaven and the earth. Transactions following this continue to be written in the BCH chain with each verse that’s found in the King James Bible. This address is etching the entire Bible into the blockchain. UK Cryptocurrency estimates that the entire Bible may cost around $100 USD (0.08 BCH) and add around 8MB to the BCH chain. Of course, many Bitcoin Cash fans were excited to see the many OP_Code developments unfold so fast and expect more innovative ideas will sprout down the line. What do you think about all the OP_Code experimentation over the past day? Let us know what you think about this subject in the comments below. Images via Shutterstock, Reddit, the Bitcoin.com Block Explorer, and Blockpress. Want to see all those Memo posts and OP_Codes in the BCH Chain? Check out Bitcoin.com’s Block Explorer today! The post Bitcoin Cash Community Sees OP_Code Innovation After Upgrade appeared first on Bitcoin News. View the full article

In an effort to get ahead of the next round of scams, the US Securities and Exchange Commission (SEC) created and published its own version of an initial coin offering (ICO) scam website. It’s a rather innovative way at approaching investor education in the brave new world of cryptocurrency. Also read: Federal Reserve Pres: People Want Dollar, Not Volatile Crypto SEC Posts ICO Scam Site “Combining the two most growth-oriented segments of the digital economy,” the mock SEC website reads, “blockchain technology and travel, Howeycoin is the newest and only coin offering that captures the magic of coin trading profits AND the excitement and guaranteed returns of the travel industry. Howeycoins will partner with all segments of the travel industry (air, hotel, car rental, and luxury segments), earning coins you can trade for profit instead of points.” It really is a novel idea. SEC Chairman Jay Clayton explained, “The rapid growth of the ‘ICO’ market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors. We embrace new technologies, but we also want investors to see what fraud looks like, so we built this educational site with many of the classic warning signs of fraud. Distributed ledger technology can add efficiency to the capital raising process, but promoters and issuers need to make sure they follow the securities laws. I encourage investors to do their diligence and ask questions.” And it is also more than ironic how “on it” the SEC has been when it comes to crypto and all things ICO. Enforcement subpoenas are flying all around the United States in search of the next conviction. Ironic, because, of course, so little, comparatively, has been done similarly with regard to mainstream financial scams: The Great Recession is probably a perfect example. Crypto, while often ‘poo-poo’d’ as largely irrelevant and no threat, does appear to occupy more and more time and space in SEC moves. Nevertheless, SEC Chief Counsel, Owen Donley, detailed how fraudsters “can quickly build an attractive website and load it up with convoluted jargon to lure investors into a phony deal. But fraudulent sites also often have red flags that can be dead giveaways if you know what to look for.” The webpage www.howeycoins.com is an in-house SEC project they were able to construct in relatively little time. Howey is derived from the landmark 1946 U.S. Supreme Court decision, SEC v. W.J. Howey Co. Its decision guides the definition the regulator uses to this day in determining what constitutes a security: “a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third party.” Pretty Much Spot On Some of the better lines are eerily spot on. “We anticipate OVER 1% daily returns, with DOUBLE 2% returns on Tier 1 investors in pre-ICO stage secured purchases,” Howeycoin promises. “The average registered coin return over a two month period in 2017 was an amazing 72%. Based on market conditions, including record-setting prospects in both the digital asset and travel industries, we expect to surpass that BEFORE the Tier 2 offering closes. HODL! We also forecast a minimum growth rate of between 7% to 15% annualized, making Howeycoins attractive for long-term investment. In addition, Howeycoins can serve as a GUARANTEED hedge against inflation and market loss.” Clicking on the live links brings surfers to a reveal landing page: “If You Responded To An Investment Offer Like This, You Could Have Been Scammed – Howeycoins Are Completely Fake!” the banner blares. “Fortunately, frauds like these often have a number of ‘red flags’ that can help you tell if the so-called ‘investment opportunity’ is really a scam. Our bogus site is a mash-up of a number of different things we’ve seen – any particular fraud may be harder to spot than the red flags here. Here are some of the signs of fraud that are on the Howeycoins site – we hope reviewing these may help you recognize a real fraud in the future!” In the interest of clarity and fairness, seeing as how the legacy financial world has been around decades and decades longer than crypto and ICOs, it’d be wonderful for the SEC to use some this new found creativity to mock their own: investment bank come-ons, bail out scams, etc. We won’t be holding our breath. Do you think this tactic will be effective? Let us know your thoughts in the comments below. Images via Shutterstock, SEC. Need to calculate your bitcoin holdings? Check our tools section. The post US Government Launches Scam Crypto Site appeared first on Bitcoin News. View the full article

Thailand’s Revenue Department has announced that it will waive the 7% value-added tax for individual cryptocurrency investors. The country began regulating digital currencies and initial coin offerings on Monday, putting the Thai Securities and Exchange Commission (SEC) in charge of the regulations. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space VAT Exemption The decree to provide the legal framework for cryptocurrencies and initial coin offerings (ICOs) in Thailand went into effect on Monday. Cryptocurrency transactions are currently subject to income tax for both private companies and individual investors, Nation Multimedia explained. Saroch Thongpracum, Director of Legal Affairs of the country’s Revenue Department, announced at a press conference on Tuesday: The Revenue Department will waive value-added tax for people trading in cryptocurrencies on exchange markets approved by the Securities and Exchange Commission (SEC). However, Mr. Saroch emphasized, “Individuals will still have to pay a 15 percent capital gains tax, also known as a withholding tax, on income earned in a transaction.” The VAT waiver for individual cryptocurrency traders aims to “reduce their tax burden,” the publication noted, adding that the Revenue Department “would issue a regulation waiving the 7 percent VAT for individual investors.” Furthermore, the news outlet detailed, “Under the new law, private companies launching ICOs have to pay corporate income tax on the funds they raise from the exercise.” Full Regulations Expected Next Month According to the decree, the Thai SEC will be the primary regulator of digital assets. Three groups of crypto operators will be regulated: brokers, dealers, and ICO portals. They must obtain licenses from the Finance Minister, according to the department’s spokesperson. The SEC chief says that the Commission expects to issue regulations on cryptocurrencies and ICOs by the end of June after holding a public hearing. “The public hearing will take 2-3 weeks because investments in digital tokens are complicated and carry high risks,” the Bangkok Post reported SEC secretary-general Rapee Sucharitakul conveying. During this time, ICOs are banned in the country. The news outlet then quoted Mr. Rapee elaborating: The new regulation aims to provide protection for general investors since only investors who have knowledge of ICO issuance or digital-asset transactions should be allowed to engaging in this kind of trading. Meanwhile, the Bank of Thailand (BOT) announced that it will wait for the SEC to release more details of the regulations before it will take any action, Assistant Bank of Thailand governor Chantavarn Sucharitakul told the publication. The central bank has previously requested financial institutions in the country to refrain from dealing with cryptocurrency transactions. What do you think of Thailand waiving 7% VAT for individual crypto investors? Let us know in the comments section below. Images courtesy of Shutterstock and Thai SEC. Need to calculate your bitcoin holdings? Check our tools section. The post Thailand Waives 7% VAT for Individual Cryptocurrency Investors appeared first on Bitcoin News. View the full article

Social trading platform Etoro is expanding into the US. Pre-registration has already begun. Initially, 10 cryptocurrencies will be offered, but the company plans to add more throughout the year. The company’s crypto business has boomed in recent years, with 70% of its users reportedly trading cryptocurrencies. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Etoro Launching in the US Social investment platform Etoro has announced that it is expanding into the US market. CEO Yoni Assia unveiled the company’s plans at the Consensus conference on Tuesday. According to the announcement: The launch will initially enable U.S.-based users to invest in 10 cryptocurrencies, with more to be added throughout 2018. Users will have access to a community feed and tools, letting them engage in conversations about cryptocurrencies and follow the investment strategies of other U.S. users. Launched in 2007, Etoro is regulated in Europe by Cyprus Securities and Exchange Commission and in the UK by the Financial Conduct Authority. The company says it has more than 10 million registered users across 140 countries in Europe, Asia, and Australia, with an accumulated capital funding of more than $162 million. Currently, its website shows 247,387,974 open trades on the platform. Assia commented, “Etoro will continue to focus on simplicity and user-friendliness so that more diverse groups will feel welcomed into the global crypto community.” Pre-Registration Begins for US Users The company explained that US users can join the waiting list for the platform starting on May 15. “Users will be able to experience the interface and perform mock cryptocurrency investments via a virtual portfolio,” its announcement details, adding: The 10 cryptocurrencies that will be initially available are: bitcoin, ethereum, litecoin, XRP, dash, bitcoin cash, stellar, ethereum classic, NEO, and EOS. Etoro intends to integrate several more cryptocurrencies throughout 2018. “The platform will offer U.S. investors three ways to access the crypto markets,” Etoro described. The first way is “by manually investing in a coin.” The second is “by automatically copying the trades of other traders on the platform to benefit from their knowledge and investment expertise.” The third is “by investing in a Crypto Copyfund which provides a diversified portfolio of major crypto assets.” A Copyfund is Etoro’s investment product aimed at helping investors minimize long-term risk, its website states. “Once you invest in a Copyfund, your capital is professionally managed by Etoro’s investment committee. Each Copyfund’s performance is analysed in depth and rebalanced automatically to maximise its gain potential.” Etoro’s Booming Crypto Business In January last year, the platform added cryptocurrencies. According to Fortune, “In recent years, the company’s crypto business has boomed with 70% of its users trading digital currency.” Yoni Assia. In an interview with the news outlet, Assia predicted that Etoro’s “unusual social media features would help it gain a foothold” in the US. “Those features let users create a public profile of their investments, which in turn allows others on Etoro to track and copy their trading decisions.” Commenting on the crackdown by the US Securities and Exchange Commission (SEC) targeting tokens that resemble securities, Assia told the publication that he is confident “the digital assets Etoro plans to list are currencies not securities.” He expects Etoro will list as many as 15 tokens by the end of the year, the news outlet conveyed, adding that the company also “plans to open a global wallet and exchange service later this year that is aimed at institutional traders.” Currently, the aforementioned ten cryptocurrencies are already being offered on the platform for non-US users. What do you think of Etoro launching in the US? Let us know in the comments section below. Images courtesy of Shutterstock, Medium, and Etoro. Need to calculate your bitcoin holdings? Check our tools section. The post Investment Platform Etoro Launches in the US with 10 Cryptocurrencies appeared first on Bitcoin News. View the full article

On May 15, 2018, the Bitcoin Cash (BCH) network upgraded the chain’s base block size from 8MB to 32MB. The software advancement makes blocks big enough to process lots of transactions over time — which gives developers plenty of breathing room to adjust the size if it starts getting closer to its limit. Unfortunately, many misdirected individuals assume the BCH chain will start processing 32MB blocks right away, which could lead to a blockchain chain that’s much larger in gigabyte size and takes longer to download. However, this is not the case right now at all, because BCH miners process blocks that are often still under 1MB, as the 32MB code is only set to ensure the network is capable in the future. Also Read: Bitcoin Cash Upgrade Milestone Complete: 32MB and New Features The Successful 32MB Block Size Increase Paves a Path for Mass Adoption After the Bitcoin Cash network upgraded yesterday and even before the fork, a few misguided individuals asked why there was a need to raise the block size fourfold when 8MB blocks were not filling just yet. The reason developers raised the limit to 32MB is likely because the software is perfectly capable of handling such a task in the future. Right now block size limits are set by the miner, and developers are there to help set the capacity so blocks cannot get full in the immediate future, and fees will remain low for quite some time. Unfortunately for the Bitcoin Core (BTC) network, Core developers let the block size fill beyond capacity, and fees became unreliable during the last quarter of 2017. The 32MB BCH block size adjustment ensures this will not happen to the BCH network down the road, even when transaction usage becomes as extreme as 2017’s last quarter. The Bitcoin Cash (BCH) community and developers are not afraid of forks and protocol upgrades. The May 15th upgrade is the second successful hard fork on the BCH network. Looking at BCH blocks on Coin Dance — a website which records BCH chain data currently shows that mining limits are being set by the mining pool. Over the past nine months, there have been a few 2,4, and 8MB blocks processed, but typically blocks have been a megabyte or less. So in essence, once miners decide its necessary to increase the block sizes they process, they will do so based on transactions and adoption increasing over time. In fact, current data also shows the Bitcoin Core (BTC) chain is still 34.4GB larger than the Bitcoin Cash chain. After the block size increase miners are not processing 32MB blocks, the upgrade was meant to ensure they can handle that capacity in the future. Transaction Data Shows Daily BCH Transactions Has Increased by 186% in Nine Months At the moment Bitcoin Cash transactions per day are less than BTC as there are roughly 20-25,000 daily BCH transactions. But there’s also been a misdirected notion that the BCH chain isn’t getting much use, but this is simply untrue as data shows over the past nine months that BCH daily transaction percentage rates have increased. The decentralized currency BCH has seen a steady incline (186%) of use since the August 1 fork and the expansion of BCH transactions are now only 5-10,000 transactions less per day than the Litecoin (LTC) network — a cryptocurrency that has been around for 7 years. This is due in part to many Bitcoin Cash-based on-chain platforms like the tipping bot Tippr, the social media apps Memo and Blockpress, and other applications that help increase BCH usage. In just nine months Bitcoin Cash has more than doubled its transaction count, and the BCH daily transaction rate is just below LTC’s daily transactions per day. 32X the Capacity is Merely Preparation for the Future of Bitcoin Cash Adoption Essentially the bottom line is the software is now capable of processing 32MB blocks as it was previously capable of 8MB blocks. So far BCH miners had proven the capability of mining much larger blocks than 1MB multiple times, clearing thousands of transactions from the mempool. After the successful fork on May 15, some BCH supporters are already asking developers to remove the block size limit entirely. The hilarious TX Highway has updated to 32 lanes. Moreover, we know from testing that the Bitcoin software is capable of processing gigabyte blocks, and research studies further suggest the network could handle terabyte blocks as well. Unlike other digital asset developers, BCH programmers have set the bar high for capacity based on the known advancements in scaling a cryptocurrency network. Instead of saying “we don’t need to scale now,” the 32MB increase establishes a base block size that can efficiently handle 32X more transactions than the BTC network’s highest daily transaction rate recorded this past December. What do you think about the 32MB block size upgrade? Do you think that the developers should remove the capacity limit entirely? Let us know your thoughts in the comments below. Images via Pixabay, TX Highway, Bitinfocharts.com, and Coin Dance. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post 32MB Blocks Means Bitcoin Cash is Prepared for Mass Adoption appeared first on Bitcoin News. View the full article

It’s customary for cryptocurrencies to pump after securing a Binance listing. Every week a handful of tokens enjoy the “Binance bounce”, gaining as much as 50% in a matter of hours. Trueusd (TUSD) was meant to be different though. It’s a stablecoin whose job is to stay as close to the US dollar as possible. And yet, when Binance announced that it was adding TUSD, the unthinkable happened. Also read: Circle Raises $110Mn With Plans to Launch USD-Backed Coin How Trueusd Became a False Stablecoin Stablecoins are a burgeoning industry, with scores of projects seeking to create tether alternatives that provide stability, each pegged against the US dollar. Circle has just announced plans to launch its own stablecoin, and news.Bitcoin.com recently profiled several other new contenders, including Trueusd, which was described as: A collateralized stablecoin backed by USD held in escrow accounts. It’s basically a more transparent tether and is available on Upbit and Bittrex – where it’s even tradable against tether. On May 16, Binance became the latest and largest exchange to announce its intention to list TUSD. Up until this date, the coin had performed as expected, with scarcely a wobble from its dollar peg. But then Binance released its news and TUSD went on a run to rival even the pumpiest of altcoins. At 3:36am ET, Trueusd was trading at $0.997. In the space of 22 minutes, it jumped to $1.18 and by 5am was at $1.39, a 39% rise for a coin whose defining characteristic is that isn’t meant to rise. Stability? What Stability? In a short blog post, Binance declared that it would “open trading for TUSD/BNB, TUSD/BTC and TUSD/ETH trading pairs at 2018/05/18 04:00 AM (UTC). Users can now start depositing TUSD in preparation for trading.” It added: “Note: TUSD is a stablecoin. The value is designed to be 1 TUSD = 1 USD.” That design clearly doesn’t account for the power of a Binance listing. This is despite Trust Token, the team behind TUSD, claiming “Our open source smart contracts ensure a 1:1 parity between TrueUSD and USD in the accounts.” Ironically, in pumping by 39%, TUSD may have just proven its unsuitability as a stablecoin, and strengthened the case for tether. Tether may be opaque, but at least it works, staying resolutely close to its dollar peg at all times. Trueusd seems to have spiked due to traders FOMO-ing into the coin. It is unclear whether all of these buyers were aware that they were purchasing a supposed stablecoin. The price will settle down eventually, and return to its designated price. Traders may be left wondering, however, whether a stablecoin that can appreciate by almost 40% might also be capable of diminishing in value. Do you trust Trueusd to hold its value in future? Let us know in the comments section below. Images courtesy of Shutterstock and Saroshi Pulse. Need to calculate your bitcoin holdings? Check our tools section. The post “Stablecoin” Trueusd Pumps After Binance Listing appeared first on Bitcoin News. View the full article

With HTC entering the race, a second cryptocurrency supporting smartphone created by a major electronics manufacturer is now on its way to the market. Could this be the start of a trend by all device makers to embed features such as hardware wallets into phones to help increase sales among more tech savvy consumers? Also Read: Samourai Wallet Creates App for Transactions Over Mesh Networks Exodus From Fiat to Crypto Taiwanese consumer electronics manufacturer High Tech Computer Corporation or HTC (TWSE: 2498), will release its own cryptocurrency-focused smartphone. The company has announced it is developing a “blockchain-powered” device that will be based on Google’s Android operating system which will be named Exodus. The phone is expected to contain a universal wallet and a “built-in secure hardware enclave” supporting cryptocurrencies and dapps (decentralized applications). HTC reportedly also wants to create its own network with each phone serving as a node to facilitate trading within it. Finally, the company is examining the possibility of selling the device for cryptocurrency as well. “Through Exodus, we are excited to be supporting underlying protocols such as Bitcoin, Lightning Networks, Ethereum, Dfinity, and more,” Phil Chen who is responsible for the development told Thenextweb. “We would like to support the entire blockchain ecosystem, and in the next few months we’ll be announcing many more exciting partnerships together.” Cryptocurrency Support as Killer App If you follow the electronics market carefully, you must know that HTC has not been doing so well in recent years despite creating some great devices. In that context it is possible to imagine that the company is betting on a cryptophone to give it a more edgy brand to attract privacy-minded young people and the more tech savvy crowd. However, other companies have explored the field before HTC and it is thus possible that many more will soon feature built-in cryptocurrency support in their devices. Earlier this month we reported on the technical details that have emerged about Sirin Finney, an ultra secure mobile device promising to keep your cryptocurrency transactions private. The phone will feature an embedded cold storage wallet, and will be built by the same company that builds the iPhone, Foxconn. And back in March of this year, the Chinese smartphone maker Huawei was rumored to be in serious talks with Sirin Labs about the device too. How long until all new phones will support crypto as default? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post HTC to Launch Its Own Cryptocurrency-Focused Smartphone, Exodus appeared first on Bitcoin News. View the full article

Melissa Alsoszatai-Petheo, of Microsoft’s Bing search engine, announced its advertising arm is banning all cryptocurrency advertisements. This follows market leaders such as Google, Facebook, and Twitter either severely restricting crypto ads or banning them altogether. Also read: Ethereum Futures in US One Step Closer as CME Deal is Struck Microsoft’s Bing Search Engine Bans Crypto Ads Advertiser Policy Manager, Melissa Alsoszatai-Petheo, posted an update to Microsoft’s Bing search engine ad policy. Bing Ads to Disallow Cryptocurrency Advertising is the title of the company’s rather obvious move. “We are always evaluating our policies to ensure a safe and engaging experience for our Bing users and the digital advertising ecosystem,” Ms. Alsoszatai-Petheo began. “Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.” Bing has consistently ranked a very distant second behind the Google juggernaut, which gobbles up better than 60% of search traffic on the internet. Google at the beginning of 2018 announced a far more specific series of cryptocurrency related prohibitions, down to defining contract for difference (CFDs) products. It wasn’t too much later when Facebook followed, as we reported at the end of January, with “a new ruling issued on January 30, ‘ads must not promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, or cryptocurrency.’” Twitter too, a mere two months later, presented its new advertising policy, severely restricting initial coin offering (ICOs) and token sales. Protection is the Pretext “To help protect our users from this risk,” the notice from Bing continued, “we have made the decision to disallow advertising for cryptocurrency, cryptocurrency related products, and un-regulated binary options. Bing Ads will implement this change to our financial product and services policy globally in June, with enforcement rolling out in late June to early July.” Other than seeking a press cycle of promotion, it does appear “scams” were a bit of a problem during 2017, according to Bing’s annual report. “Tech scams are widely used by bad actors and we rejected 25 million ads in this category in 2017,” they insisted. And under the banner of misleading ads, Bing noted how last “year, we took down 30 million such ads, 20,000 such websites and 43,500 bad actors.” Do you think crypto ad bans will have a negative impact? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post World’s Second Largest Search Engine Bans Crypto Ads appeared first on Bitcoin News. View the full article

Cryptocurrency markets are losing some gains today, as most digital assets are down between 3-15 percent during this morning’s trading sessions on May 16, 2018. The overall cryptocurrency market cap has shaved a few billion in losses since our last markets update, leading to the valuation of all 1,600 cryptocurrencies hovering around $374Bn today. During the last 24-hours Bitcoin Cash (BCH) value has dropped 10.4 percent and prices are around $1,258 per BCH. Bitcoin Core (BTC) prices have also dipped, but by only 5.6 percent with one BTC priced at $8,234 at the time of publication. Also read: Circle Raises $110Mn With Plans to Launch USD-Backed Coin BCH Markets Down 20% This Week At least three-quarters of the entire cryptocurrency ecosystem has lost value today as many coins are seeing losses this Wednesday. Total 24-hour trade volume for today’s trading session is around $22.6B worth of exchanges. Bitcoin Cash markets have lost a bit of value since yesterday as the network experienced an upgrade which increased its block size to 32MB. BCH trade volume is thinner than the week prior as only $1Bn has been traded during the last day. The top five exchanges swapping the most BCH during today’s trading sessions are Okex, Bitfinex, Huobi, Upbit, and Hitbtc. Both the South Korean won and tether (USDT) BCH trading pairs have seen exponential volumes but BTC still dominates pairs by 34 percent. The BCH/BTC pair is followed by tether (USDT 25.4%), USD (22%), KRW (14%), and the EUR (1.4%). BCH/USD market action on May 16, 2018, according to Satoshi Pulse. BCH/USD Technical Indicators Looking at the four-hour BCH/USD chart on Bitfinex the price is seeing some deep triangular consolidation at the moment. The MACd is on the rise after the initial dip took place and show more improvement could be in the cards. RSI levels show the oscillator is around 38 right now, showing oversold conditions seem imminent. Looking at the two Simple Moving Averages indicates the path to resistance to the upside still looks obtainable as the short term 100 SMA rides above the longer term 200 SMA trend line. Looking at order books on the upside, BCH bulls need to muster up the strength to break past $1,330-1,355 in order to make headway northbound. On the flipside, if the dips continue there are some solid foundations between the current vantage point and $1,210. Bitfinex — BCH/USD May 16, 2018, at 10 am EDT. A Brief Glimpse at Overall Cryptocurrency Market Action The entire cryptocurrency ecosystem is seeing pretty decent losses today even though there’s been loads of good news coming from the industry this week. The number one cryptocurrency market cap held by Bitcoin Core (BTC) is wavering just below the $8,400 region with $7Bn in trade volume over the past 24-hours. Ethereum (ETH) markets has seen some dippage as well, as prices have lost 4 percent today. One ETH is hovering just above $700 USD at the time of publication. Ripple (XRP) markets are seeing heavier losses around 6.3 percent as one XRP is $0.69 cents today. Lastly, the fifth highest capitalization has been a contested position for a while now as many coins have been filling this area over the past year. EOS has held the number five spot for a few weeks now but its markets are down 11.7 percent today as one EOS is averaging $12 per coin. The top ten cryptocurrencies today according to Satoshi Pulse. The Verdict: Mid-May Market Action is Lackluster but Positivity Remains So far, the mid-May bull run lots of enthusiasts were hoping for has been nothing but a fizzle this week. Many believed cryptocurrencies would begin to see larger gains after the Consensus conference in New York started but that forecast never came to fruition, at least not yet. The only coins that are doing well today are a few miscellaneous tokens and stablecoins like tether (USD, and TrueUSD showing traders are likely using these ‘stable’ currencies as shelter from the current storm). Optimism and positivity among traders on social media and trader groups on Telegram still seems bright, even though markets have shaved some decent gains over the past 72-hours. Where do you see the price of BCH and other cryptocurrencies headed from here? Let us know in the comments below. Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.” Images via Shutterstock, Trading View, and Satoshi Pulse. Want to create your own secure cold storage paper wallet? Check our tools section. The post Markets Update: Mid-May Price Dips Plague Cryptocurrency Markets appeared first on Bitcoin News. View the full article

St. Louis Federal Reserve President, James Bullard, was recently interviewed at this year’s Consensus conference in New York City. That a top US economic policy maker was in attendance is victory enough; however, he was asked his opinions on cryptocurrency going forward by CNBC Global Markets Reporter Seema Mody. He explained he found the phenomenon “interesting,” and how more cryptos being issued all time necessitates keeping an “eye” on them. Mr. Bullard also compared the use case for cryptocurrencies with that of the dollar, and whether the former posed a threat to the latter. Also read: Bitpay Enables Bitcoin Cash (BCH) and Bitcoin Core (BTC) for Tax Payments Federal Reserve President Attends Crypto Conference Federal Reserve President, James Bullard, gave a presentation at this year’s giant Consensus conference in New York City. Reread that sentence. A sitting Fed policy maker thought it important enough to attend a crypto soiree. That’s news enough. But more importantly, President Bullard gave a presentation on the government’s current thinking about cryptocurrency. In his talk, he acknowledged crypto is facilitating trade that might otherwise not occur. He couldn’t help himself by mentioning illegal activity (and we all know fiat currencies are never used in illegal activity), but he did describe decentralized money’s lean toward frictionless transactions (especially with regard to costs/fees) as being an advancement. Mr. Bullard and Ms. Mody The Fed policy maker reserved the bulk of his comments, both in the presentation and during a post-game interview with CNBC, to talk about the problems in crypto as he sees them. One issue is simply the number of currencies being offered. The 12th St. Louis Fed President feels this over complicates matters, especially with regard to exchange rates and volatility. Asked if cryptocurrencies pose a threat to the dollar, Mr. Bullard, 56, answered he didn’t think so. Global Markets Reporter Seema Mody, who is covering Consensus for CNBC this year, quickly followed up with a “but it could be?” The Fed President was noncommittal, choosing instead to shrug and give the pat answer about no one really knowing what the future holds. He emphasized how since its creation the US dollar has vanquished nearly all currency competition due to its being backed by the world’s strongest economy. It’s abundantly clear, Mr. Bullard suggested, people want the dollar and not crypto … at least at the moment. Fed Coin on the Horizon? Ms. Mody pressed Mr. Bullard about his presence at the conference, asking if this was a hint of things to come with regard to a future coin birthed by the Fed, a Fed Coin? Interestingly he didn’t dismiss the idea outwardly, and instead said they’d for sure look at the possibility, as the Fed does with many different types of financial innovations. He also assured there wasn’t any plan being hatched at the moment, no imminent Fed Coin coming. Mr. Bullard also wondered aloud what the gains would be by creating such a coin. He smiled subtly, assuring he’s keeping an “open mind.” His comments seem to be less strident than statements issued by the St. Louis Fed on the very subject not even one month ago. “The St. Louis Federal Reserve has published an essay critically evaluating the notion of cryptocurrencies that are issued by central banks,” we detailed. “The article is highly dismissive in presenting what it describes as ‘the non-case for central bank cryptocurrencies,’ concluding that ‘a central bank will not issue cryptocurrencies in the sense of a truly decentralized and permissionless asset that allows users to remain anonymous.’” A rather curious fact about the St. Louis Fed, one of twelve jurisdictions in the Federal Reserve system (the 8th district serves Indiana, Kentucky, Missouri, Illinois, Tennessee, Louisiana, Mississippi, Arkansas), is how it has recently become very chatty about crypto. As these pages reported back at the beginning of this year, “Aleksander Berentsen and Fabian Schär of the Federal Reserve Bank of St. Louis have recently published an article that emphasizes many of the benefits of cryptocurrencies. The article states that ‘cryptoassets are well suited to become an important asset class,’ in addition to offering praise regarding a number of the major applications associated with cryptocurrencies.” Do you think a Fed president attending a crypto conference is meaningful? Let us know your thoughts in the comments below. Images via Shutterstock, Pixabay, Twitter. Need to calculate your bitcoin holdings? Check our tools section. The post Federal Reserve Pres: People Want Dollar, Not Volatile Crypto appeared first on Bitcoin News. View the full article

The rush of big money into the cryptocurrency market is continuing at full pace and reshaping the global investment landscape. Two recent examples are Coinbase’s new institutional focus and Nomura’s new venture. These stories, and much more, are in today’s edition of Bitcoin in Brief. Also Read: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading Coinbase Goes After Big Money Coinbase, the San Francisco-based cryptocurrency exchange recently valued at $8 billion, has announced a new suite of services meant to attract more big money players such as the many new crypto hedge funds that pop up all the time. It will launch a cryptocurrency custodian in partnership with an SEC-regulated broker-dealer to a group of initial clients that include 1confirmation, Autonomous Partners, Boost VC, Meta Stable, Multicoin Capital, Polychain Capital, Scalar Capital and Walden Bridge Capital. New offerings also include Coinbase Prime, a suite of tools specifically designed for institutions, and an institutional coverage group headquartered in New York City to provide a higher level of service to these type of clients. “There is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs,” said Adam White, Vice President and General Manager of Coinbase Institutional. The company will also be opening a new engineering office in Chicago to continue developing Coinbase Markets, which provides a centralized pool of liquidity for all its products. Over the course of the year it is promised to introduce new features like low latency performance, on-premise data-center co-location services, institutional connectivity and access, and settlement and clearing services. “As a global leader in financial technology, Chicago welcomes innovative companies investing in our city and creating jobs for Chicago residents,” said Mayor Rahm Emanuel. “There is no better city than Chicago for companies that want to put down roots and grow their businesses.” Komainu to Protect Mutual Funds Komainu is a new venture established to help overcome barriers for institutional investment in crypto-assets with a custody solution and offering new services, standards and best practices. Its founders include Tokyo-headquartered global investment bank Nomura (NYSE: NMR), hardware wallet developer Ledger, and Global Advisors, parent company of Coinshares. Jez Mohideen, Global Chief Digital Officer at Nomura, said: “Global investment managers have long been held back from full participation in digital asset markets, limited by operational and regulatory risk. Our new partnership will set the required standards that will bring peace of mind to digital asset investors, and provide tools and products to enable better integration with more traditional investment vehicles such as mutual funds.” Jean-Marie Mognetti, Co-Principal of Global Advisors, added: “After 6 years of research, and collaboration with our administration partner and its regulator, we now have demonstrable progress. This partnership is a progressive stepping stone towards the creation of the necessary prerequisites for further growth within the digital asset ecosystem. This will open new and exciting opportunities to global participants and contribute to move digital asset closer to mainstream offerings.” Ledgerx Savings Accounts Ledgerx, the CFTC-regulated cryptocurrency management platform, has launched a new savings account-like product. Ledger Savings uses an underlying call overwrite strategy but offers a simple interface so that users won’t need to know anything about investing in derivatives. It targets a 16% per annum yield with a potential 2x exit at maturity in the event BTC doubles from current spot prices. For launch, the savings product will be offered for 3 month, 6 month, and 12 month maturities, at varied rates. After selecting the product for the desired maturity, the USD amount is available immediately to withdraw but the associated BTC is locked for the duration of the savings product. Rat Poison Squared Fashion If there is one thing that’s true for the cryptoverse, is that it is full of fast moving entrepreneurs. Warren Buffett only bashed bitcoin as “rat poison squared” less than two weeks ago, and someone has already found a way to make money from the now infamous glib. Ecoinmerce, a tokenized e-commerce marketplace, has announced the Rat Poison Squared clothing line, to include t-shirts, hats, coffee mugs, and keyrings. “We don’t know exactly what ‘rat poison squared’ is supposed to mean,” said Ecoinmerce COO Rex Chen. “What we do know is that Bitcoin created a very productive ecosystem and spawned the entire cryptocurrency revolution, which is driving innovation in nearly every industry. This clothing line is intended to give Bitcoin and cryptocurrency enthusiasts pride in their defiance of the status quo and their belief in a better future.” Telegram’s Gram Lawsuit With a seemingly endless torrent of new ICO tokens flooding the market, short and pithy names for these crypto-assets are running out fast. This can lead to people registering coin names just to try and flip them for profit later and to companies to wage battles over who gets to control a certain ticker, as happens with website domain names. The latest example for this is Telegram, which is now reportedly suing a Florida-based venture over the rights to ‘gram’. Did Jennifer Aniston Convinced You to Invest in Crypto? The Texas Securities Commissioner has issued an Emergency Cease and Desist Order on May 15 to stop Wind Wide Coin Inc., from fraudulently offering investments in a cryptocurrency trading program. The order alleges that Wind Wide Coin and three sales agents in Houston are offering for sale investments in a cryptocurrency trading program that uses an “automatic trading bot.” The company is promising investors the combination of “no risk” and extraordinarily high returns. The purchase of 0.1 of BTC, for example, will yield 1 BTC 24 hours later, a one-day return of 900%. Further according to the order, Wind Wide Coin is also misleading potential investors by claiming it is a “licensed company” and “legally registered.” And to lure gullible suckers the company’s website has featured endorsements from supposed past investors. To weed out anyone with some common sense, the website used images of celebrities like Jennifer Anniston – which it mistakenly identified as “Kate Jennifer,” an investor. Similarly, a photo of Prince Charles was identified as “Mark Robert,” an investor who provided a testimonial. The same testimonial was then attributed verbatim to a “Johnson Smith,” supposedly another UK investor. What do you think about today’s news updates? Share your thoughts in the comments section below. Images courtesy of Shutterstock, Ecoinmerce. Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a store. And a forum. And a casino, a pool and real-time price statistics. The post Bitcoin in Brief Wednesday: Coinbase Goes After Big Money as Nomura Creates Komainu appeared first on Bitcoin News. View the full article

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. Essentia, the decentralized protocol framework, has just announced details of its public token sale following the completion of their successful pre-sale. Essentia has implemented KYC/AML verification ahead of the public sale so participants wishing to contribute to the token generation event must follow the verification procedure Essentia has outlined in detail in its project blog. During the process of verification, interested parties will have the opportunity to experience the Essentia framework in action by creating their own dashboard through a series of quick steps. Here, documents can be uploaded in a secure environment and applicants can specify such details as the ETH wallet they wish to contribute from. Anyone wishing to contribute more than 10 ETH will be required to submit additional details, and to verify that they are not the US or Chinese resident. Having completed verification for the Essentia public sale, applicants may return to their dashboard at any time to check on the status of their application. Due to high demand, Essentia cannot guarantee that successful applicants will be able to receive the full allocation of tokens they have requested. Essentia co-founder Matteo Giancarlo Zago has stated: “The public sale marks the beginning of the next exciting phase for Essentia. Our community has been incredibly patient over the last few months, while the team has worked away behind the scenes to finalize everything in readiness for this moment. We look forward to welcoming applicants to our public sale, and to have them accompany us on the our journey building the infrastructure of the next web.” Having recently signed an agreement with the Finnish government to develop a blockchain solution for the MTK ministry, one of Essentia’s first tasks following the public sale will be to recommence development on this initiative. In addition, the team will ramp up work on its enterprise solutions and fine-tuning the Essentia protocol, which they expect to grow into a thriving ecosystem of integrated dApps and other third party services. Essentia successfully hit the hard cap during their pre-sale at the beginning of May, raising over $20m by reaching the maximum allocation of ESS tokens. As a consequence, no more pre-sale applications can be accepted. The Essentia public sale will mark the final stage of the process, which aims to give the Essentia community a chance to get involved, with 595 million ESS tokens allocated for the general sale to be distributed to all participants. To be a part of their growing community join their Telegram channel https://t.me/essentia_one/. Contact Email Address matteo@essentia.one Supporting Link www.essentia.one This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. The post PR: Essentia Opens KYC Verification Ahead of Public Sale appeared first on Bitcoin News. View the full article

The cryptocurrency based firm Circle announced it has raised $110Mn USD in a Series E fundraising round led by the Chinese firm Bitmain Technologies. Circle now joins Coinbase as one of the most well-funded cryptocurrency companies in the U.S., and the Boston-based firm has announced plans to issue a dollar-backed cryptocurrency called USD-C. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Circle Raises $110Mn — Plans to Launch Stablecoin Circle has big plans ahead for its latest mobile project called ‘Centre’ while also revealing its plans to create a stable coin much like the currency Tether (USDT). Furthermore, the firm has raised $110Mn in a Series E funding round that included investors such as Bitmain Technologies, Blockchain Capital, Pantera, Digital Currency Group and other venture firms. In addition to the injection of capital, Circle says it is planning to launch a new cryptocurrency that is backed by the price and reserves of USD. The company’s new token will be called ‘USD-C’ and based off of the Ethereum network. According to the Circle, the firm’s subsidiary ‘Centre’ project will manage the USD-C protocol. Circle feels a cryptocurrency that is tied to a fiat currency can add more value to the blockchain ecosystem. “It is difficult to use something like bitcoin if the volatility is so high,” Circle’s founder and CEO Jeremy Allaire explains. “Something like this makes it more possible.” A Partnership With Bitmain Circle also detailed that Bitmain will also be helping with the Centre project and the USD-C launch. “Bitmain will help Centre introduce multiple fiat stablecoins in a variety of geo-currency zones,” the company explains. Moreover, the company takes a jab at other ‘stablecoins’ utilized in the markets right now that lack transparency as the firm states: Existing fiat-backed approaches have lacked financial and operational transparency, have operated in unregulated jurisdictions with unknown banking and audit partners, and have been built as closed-loop ecosystems and closed proprietary technologies. Circle says despite celebrating their fifth anniversary this fall they feel like they are just getting started. In addition to Centre and the new USD-C token that will launch this summer, Circle says it also has plans for Circle Invest, Circle Trade, Circle Pay, and the newly acquired Poloniex exchange. “We see the future of the global economy as open, shared, inclusive, distributed, and powerful — not only for a few chosen gatekeepers, but for all who will connect,” Circle adds. What do you think about Circle raising $110Mn in a funding round led by Bitmain? What do you think about this new USD-C idea they have? Let us know your thoughts on this subject in the comments below. Images via Shutterstock, Bitmain, and Circle. Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today. The post Circle Raises $110Mn With Plans to Launch USD-Backed Coin appeared first on Bitcoin News. View the full article