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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. Utrum, a decentralized community platform with reputation-based quality reviews of crypto projects and assets, has announced its public token crowd sale to launch May 10, 2018. Utrum will offer OOT, a Privacy Coin and the utility token of the Utrum ecosystem. The crowd sale is the second ever dICO (decentralized Initial Coin Offering) and is being launched on the Komodo Platform (KMD). Komodo is the world leader in Atomic Swap technology and this technology will be utilized in the Utrum dICO App, allowing participants to invest in the ICO in a unique “wallet-to-wallet” transaction, receiving OOT immediately in exchange for their investment with no third-party intermediary. A grassroots project, Utrum was born out of a Komodo Slack conversation between a few cryptocurrency investors. Founder and Project Lead for Utrum, Sridhar Panasa, had observed the multitude of scams, misinformation, and chaos plaguing the crypto-investment community at large. Having previously run a Threat Intelligence company, Sridhar has a habit of looking at new technologies from a strong security perspective. “I saw members running around from telegram groups to facebook groups trying to get info about investments…” said Sridhar Panasa, Utrum’s Founder and Project Lead. “There was no clear authority or means by which to sort through the noise. One day I got this idea. How can we stop scams from happening and identify the quality information about cryptos? I brought the idea up to Komodo’s lead developer JL777 and he created a slack channel for us in Komodo’s slack. There I began discussing with Chris (Chris Maarseveen) and Gürkan (Gürkan Aygörmez), and the three of us have been working on the project ever since.” Cryptocurrency is one of the highest risk markets in which to invest…and arguably the most accessible to anyone. With the increasing difficulty for investors to adequately distinguish between the good and the bad in crypto investing, many well-meaning investors have lost everything in their attempts at supporting the growth of this technology. Utrum believes that by developing an Artificial Intelligence backed, a community-driven platform which rewards users for their help in reviewing, rating, analyzing and predicting crypto projects, assets, and teams, these problems can be solved. Through the use of blockchain, Utrum is creating an ecosystem of supportive and educational guidance for investors of all caliber, as well as a marketplace for projects and providers to showcase to a targeted investment-rich community. Utrum will also implement community-voted moderators whose job it is to help regulate and manage the ecosystem according to community governance. The platform utilizes a new token, called OOT, which is used for various utilities and transactions within the community and marketplace, and which will be available on cryptocurrency exchanges in the future. Users who write reviews, perform analysis, and participate in rating crypto-projects or assets, are rewarded OOT based on their activity and reputation within the community. Utrum has a diverse and growing team of individuals passionate about creating a safer and more rewarding platform, helping users become smarter crypto investors, helping good projects gain visibility and helping the larger crypto-community. The team brings over 30 years combined experience in business development, technology, security, and community management. This new crypto startup is poised and passionate about developing a powerful community platform for crypto projects, developers, analysts, newbies, and investors to gain access to quality information and reviews. If you’d like to learn more about Utrum, visit their website to read more and join the conversation. Token Sale starts on 10 May with 30% Bonus https://utrum.io/tokensale Utrum – Your Crypto Playbook Intro Video https://www.youtube.com/watch?v=o5K0J7JIJbw Advisors James Lee, AKA “JL777”, is the Lead Developer of Komodo Platform, a leader in Privacy, Decentralization, and Development with a market cap of over $500 Million. He is a strong advocate of privacy and liberty in its true essence. He is the pioneer of decentralized ICOs (dICO) which he developed to curb “whale manipulation” within crowd sales. His brainchild is BarterDEX, a fully functional decentralized exchange, powered by atomic swaps and electrum servers. He also developed the Komodo privacy coin using zk-snarks and Jumblr for anonymity, and innovated dPOW (delayed Proof of Work) which gives Bitcoin security to Komodo and its asset chains. Investors SuperNet is one of the largest Crypto Investment Funds with a portfolio worth 10,000 BTC recently purchased 1% of OOT (Utrum Token) total supply in a private sale. Contact Email Address press@utrum.io Supporting Link https://utrum.io 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: Utrum to Launch Innovative Blockchain Platform Solving Trust Problems for Crypto Investors appeared first on Bitcoin News. View the full article

The Chief Scientist of Quebec, Rémi Quirion, has published a document rejecting the popular “myth” that illicit transactions are among those for which bitcoin is principally used. Quebec’s Chief Scientist is closely associated with the Fonds de recherche du Québec (FRQ) – a publicly funded institution dedicated to “providing support for the production and dissemination of knowledge.” Also Read: 20% of Financial Institutions Examining Starting Cryptocurrency Trading Soon Quebec’s Chief Scientist Dismisses Claims That Bitcoin is Commonly Used for Illicit Purposes Rémi Quirion, Chief Scientist of Québec Mr. Quirion asserts that “Bitcoin is often blamed as a good tool for crime or money laundering,” adding that “Even Christine Lagarde, president of the International Monetary Fund (IMF) recently called for more regulation of cryptocurrencies to counter illegal activities.” Whilst the Chief Scientist acknowledges that bitcoin can be used as a means to achieve greater anonymity whilst conducting transfers, Mr. Quirion states that “the facts do not support the theory” that criminal use of bitcoin is widespread. “Pseudonymity” Deters Criminals From Widespread Adoption Quebec’s Chief Scientist argues that bitcoin offers it’s users “pseudonymity,” rather than total anonymity, which detracts from its potential illicit utility. According to a rough translation, Mr. Quirion quotes cryptocurrency analyst, associate researcher at the Montreal Economic Institute, Jonathan Hamel – who has argued that the public nature of bitcoin’s blockchain detracts from its anonymity. “Every transaction is transparent and public. They are indeed recorded in a kind of ledger whose copies are distributed among thousands of computers.” Cryptocurrency analyst, Erwan Joncheres, is also quoted in the document as arguing that “The anonymity of bitcoin is a myth.” Mr. Joncheres has argued that bitcoin is “no more transparent [than] money, because you have to go through a platform where you have to give personal information,” adding that at a bare minimum, information pertaining to “the address of the transmitter and that of the receiver” is recorded by a third party that facilitates the transaction. Illegal Transactions Comprise Less Than 1% of Bitcoin Circulations The document points to research conducted by the “Center for Sanctions and Illicit Finance of the Defense of Democracies Foundation” that, after analyzing bitcoin transactions executed between 2013 and 2016, found that only 0.61% of trading transactions in the period were deemed to be associated with illegal activities. The Chief Scientist also points to center’s findings that illegitimate transactions within the bitcoin economy are extremely centralized, further undermining the suggestion that illicit activities pervade the bitcoin economy. Said research indicated that less than 10% of anonymous free markets were responsible for 95% of illicit transactions involving bitcoin between 2013 and 2016. As such, Mr. Quirion argues that “The claims of recent years that some of the bitcoins would be used to circumvent money-laundering rules must, therefore, be questioned.” Money Laundering in Crypto “Anecdotal,” Says Researcher Mr. Quirion similarly rejects associations between tax evasion and bitcoin, quoting Canada Revenue Agency Communications Officer, Karl Lavoie, as stating “It’s just like money and you have to declare what you’re doing with it.” Mr. Jonchères has also dismissed assertions that bitcoin and money laundering go hand-in-hand, stating “I think that tax evasion and money laundering are anecdotal on cryptocurrency networks. Since bitcoin is transparent, it will be very easy to identify all the people trading on an online exchange or portfolio platform.” The document concludes that “bitcoin is not above the law, nor is it a magnet for illicit transactions: it forms only a tiny part of the criminal money circulating around the planet” due to it being “less attractive for anyone who wants to make transactions without leaving a trace […] Ultimately, the user must also take responsibility, […] In case of loss or theft, there is no 1-800 number to recover its bitcoins,” Mr. Quirion stated. Do you agree that mainstream claims that cryptocurrency and criminality go hand-in-hand are unevidenced? Share your thoughts in the comments section below! Images courtesy of Shutterstock, www.scientifique-en-chef.gouv.qc.ca Want to create your own secure cold storage paper wallet? Check our tools section. The post Quebec Chief Scientist Rejects “Myth” of Widespread Illicit Bitcoin Use appeared first on Bitcoin News. View the full article

Authorities in the state of Wisconsin have discussed the adoption of guidelines regarding cryptocurrency contributions to political campaigns, as requested by the Libertarian Party. Other states, like California, have urged politicians not to accept bitcoin donations. Kansas is the only state prohibiting such contributions. The Federal Election Commission allows crypto donations to campaigns for federal office. Also read: Majority of US States Have Taken a Stance on Bitcoin and Blockchain Libertarians: The Question Is Not “Whether” but “How” The Wisconsin Ethics Commission held on Tuesday a public hearing on a request from the state’s Libertarian Party regarding the adoption of guidelines for crypto contributions to political campaigns. The party’s chairman, Phil Anderson, wants to know how such donations would be counted toward the limits set by the state in dollars. “Digital currencies, such as bitcoin, litecoin and ethereum, are more and more widely accepted as currency and as stores of value,” the libertarian said, quoted by the La Crosse Tribune. “The Chicago Board Options Exchange offers a futures market for bitcoin. Corporations and governments are weighing in on not ‘whether’ to address cryptocurrencies, but ‘how’,” Anderson wrote in the request. David Buerger, staff counsel for the commission, admitted he is not yet aware of any instances in Wisconsin in which cryptocurrency contributions to state campaigns were given or accepted. Libertarians are among the stronger supporters of bitcoin. The idea of a decentralized cryptocurrency, not controlled by a central authority or bank, is in line with their political views and opposition to government control over the national currency. During Tuesday’s meeting, commissioners suggested that if digital currencies were counted as a monetary contribution, crypto donations would be subject to the $100 limit applicable to cash contributions. Larger donations must be made by a credit card or a bank check. Only One State Prohibits Crypto Donations The question of cryptocurrency contributions to political campaigns is one of many crypto-related issues that have been addressed differently in each state. For example, California has issued a warning against such donations. The Fair Political Practices Commission in the Golden State urged campaigns not to accept digital coins because their transactions are considered “virtually impossible to trace”. Last year Kansas became the first state to ban bitcoin contributions. According to its ethics commission, cryptocurrency is “too secretive”. Most US states have adopted some crypto regulations according to a recently published report by the Brookings Institution. The attitude towards cryptocurrencies, however, varies significantly between different jurisdictions. On national level, crypto contributions to campaigns for federal office were approved by the Federal Election Commission. In 2014 FEC said they should be treated as “in-kind donations” and “noncash items”. Politicians Taking Bitcoin The popularity of bitcoin among American politicians seems unaffected by recent market volatility. A growing number of political candidates are accepting cryptocurrencies to fund their campaigns. Republican Andrew Hemingway, the youngest gubernatorial candidate in New Hampshire, was the first to do so in 2014, as reported by CNBC. Hemingway, also a tech entrepreneur, said he decided to accept crypto contributions after many of his supports asked if they could donate bitcoin. Austin Petersen, Republican candidate from Missouri, received 24 bitcoin contributions while running for Senate. He is also the beneficiary of the largest crypto donation worth $4,500. Democrat Patrick Nelson, running for Congress from New York, is accepting cryptocurrency contributions through the payments provider Bitpay. “We’re a 21st century campaign and as such we embrace new technologies like bitcoin,” he tweeted. Democratic candidate for Congress Brian Forde of California and Republican Kelli Ward running for the Senate from Arizona are also taking bitcoin donations. The first candidate for the White House to do the same was Kentucky Senator Rand Paul who ran for the Republican nomination at the 2016 U.S. presidential election. Paul has in the past stated that the US government should adopt a “hands off” approach to controlling money. His campaign accepted bitcoin donations worth up to $100. That’s the maximum amount for individual contributions in cryptocurrency, as set by the Federal Election Commission. What do you think about bitcoin contributions to political campaigns? Share your views in the comments section below. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post Wisconsin Mulls Guidelines for Campaign Contributions in Bitcoin appeared first on Bitcoin News. View the full article

The United States Securities and Exchange Commission (SEC) has announced that Centra Tech Inc. co-founder, Raymond Trapani, has been charged with fraud charges resulting from the SEC’s investigations into Centra’s controversial $32 million USD initial coin offering (ICO). Mr. Trapani is the third and final Centra co-founder to be charged for having a role in the ICO. Also Read:16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan “Mastermind” Centra Co-Founder Charged for Involvement With “Fraudulent” ICO Raymond Trapani, a co-founder of Centra Tech Inc., has been charged by the SEC for his involvement in “a fraudulent scheme related to Centra’s 2017 ICO.” Last year, Centra made headlines after enlisting celebrity endorsements from Floyd Mayweather and DJ Khaled. The other two co-founders of the company, Sohrab “Sam” Sharma and Robert Farkas, were charged by authorities earlier this month for their involvement in the distribution of “CTR Tokens” to investors. An amended version of the SEC’s complaint claims that Trapani was the “mastermind of Centra’s fraudulent ICO,” with an SEC press release alleging that “Centra [was] marketed with claims about nonexistent business relationships with major credit card companies, fictional executive bios, and misrepresentations about the viability of the company’s core financial services products.” The SEC also accuses Mr. Trapani and Mr. Sharma of “manipulat[ing] trading in the CTR Tokens to generate interest in the company and prop up the price of the tokens.” SEC Charges Trapani Charged for Violating Securities Laws The amended complaint charges Trapani with violating the anti-fraud and registration provisions of U.S. federal securities laws, with the SEC seeking “permanent injunctions, the return of allegedly ill-gotten gains plus interest and penalties, as well as bars against Trapani prohibiting him from serving as a public company officer or director and from participating in any offering of digital or other securities.” Robert Cohen, the Chief of the SEC Enforcement Division’s Cyber Unit, stated “We allege that the Centra co-founders went to great lengths to create the false impression that they had developed a viable, cutting-edge technology,” adding that “Investors should exercise caution about investments in digital assets, especially when they are marketed with claims that seem too good to be true.” In a parallel action, the U.S. Attorney’s Office for the Southern District of New York has also sought criminal charges against Trapani. Text Messages Evidence Fraudulent Intent The SEC has indicated that text messages shared between Centra’s co-founders nakedly evidenced the fraudulent intent of the defendants. The SEC has made public a text correspondence sent to Mr. Farkas and Mr. Trapani from Mr Sharma in response to a cease-and-desist letter from a bank demanding that Centra remove all references to the institution in their marketing materials, in which Mr. Sharma told his colleagues “[w]e gotta get that s[***] removed everywhere and blame freelancers lol.” According to the SEC, Mr. Trapani also requested that Mr. Sharma “cook [him] up” a fraudulent document whilst the company was seeking to get CTR tokens listed on exchanges under misleading pretexts. Mr. Sharma replied to the request with “Don’t text me that s[***] lol. Delete.” Do you think that the actions of projects like Centra indicates that the ICO sector is in need of regulation to protect investors, or should the onus be placed on the consumer to identify trustworthy companies and protect themselves? Share your thoughts in the comments section below! Images courtesy of Shutterstock, Centra.tech Want to create your own secure cold storage paper wallet? Check our tools section. The post SEC Charges Third Centra Co-Founder With Fraud appeared first on Bitcoin News. View the full article

This week the firm Blossom Finance announced the open enrollment for an Islamic microfinance fund that will accept multiple cryptocurrencies such as BCH, ETH, and BTC. Investors will focus on socially responsible opportunities, and receive profit sharing from Blossom’s network of microfinance partners in the province of Central Java, Indonesia through a partnership with the PBMT Ventura. Also read: Five Reasons Why Bitcoin Cash is About to Win Big Cryptocurrencies, Microfinance, and Central Java News.Bitcoin.com recently spoke with Matthew Martin, the CEO of Blossom Finance about the launch of Blossom’s new cryptocurrency infused microfinance fund. Blossom enables international investors a commercial return on microfinance institutions that are aimed at reducing poverty. The company partners with ‘BMT’ (Baital Mal wat Tamwil) model institutions that focus on solving social issues and creating self-sustaining businesses. Now Blossom is partnered with PBMT Ventura, an Indonesian Islamic microfinance firm, and plans to publicly launch a cryptocurrency microfinance fund. Blossom CEO Matthew Martin and Managing Director of PBMT Ventura Jamil Abbas pose with members of BMT Al Huda’s management and staff after a meeting in Wonosobo, Central Java, Indonesia. The funds raised will be utilized to bolster micro-businesses and traditional market sellers to meet the increased demand during the upcoming Ramadan holiday, Blossom details. In order to participate, investors will have the option to invest with Bitcoin Core (BTC), Bitcoin Cash (BCH), and Ethereum (ETH) via Blossom’s US Delaware based fund; the fund will also accept USD investments. “We’ve spent the last few years developing a network and making key partnerships in Indonesia. Our partnership with PBMT — which is a fully licensed venture capital company in Indonesia — allows us to help some of the best microfinance institutions in the world,” Martin explains to news.Bitcoin.com. We’re truly inspired by the work these teams are doing in Central Java, and we’re thrilled to open up the fund to public investment. The BMT Tamzis team poses in their “batik” uniforms after a meeting with Blossom Finance in Wonosobo, Central Java, Indonesia. Gradually Putting the Loan Sharks Out of Business Blossom’s fund will focus exclusively on microfinance solutions that adhere to the BMT model. BMT branches offer commercial financing, community-based savings, and encourage the growth of local businesses. Financial products BMTs provide traditionally serve the ‘under-banked’ citizens and businesses that fall below conventional bank thresholds, Blossom details. “We’re huge proponents of the BMT model in Indonesia. When you go around with one of these BMT agents into the community, and you see the relationship between the agent and the cooperative members, you begin to understand that this model is something special – it’s a totally different model of banking unlike anything in the conventional banking realm” said Martin. “The loan sharks hate this model because it’s gradually putting them out of business.” A traditional morning market seller and BMT member in Sukorejo, Indonesia. Blossom’s fund invests in many market sellers like this via the BMT network, which provides financial services to Indonesia’s working class. Blossom’s Recent Islamic Finance Bitcoin Research Paper Bolsters the Microfinance Fund That Aims to Help Traditional Market Sellers The news follows Blossom’s in-depth research analysis that shows bitcoin and other cryptocurrencies meet the Islamic definition of money under Shariah rules and that it’s permissible for Muslims to use. Because of this, the firm’s fund will be a first of its kind that enables BTC, BCH, and ETH acceptance for those who adhere to the Islamic finance doctrines. “What we do is truly global by nature, so naturally it makes sense to leverage the world’s first truly global currencies,” Martin emphasizes to news.Bitcoin.com. “We use bitcoin and ethereum to transfer money globally more cheaply and quickly than the banks can do it — And we get much more competitive exchange rates this way.” Investing in Blossom’s microfinance fund helps traditional market sellers to earn an honest living by supplying food and necessities for daily life — Muslims should focus on productive, real-world economic activity – not merely playing with exchange rates and fluctuation. What do you think about Blossom’s Islamic microfinance solution that accepts bitcoin and ethereum? Let us know in the comments below. Images via Matthew Martin, and Blossom. 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 Cryptocurrency Infused Islamic Microfinance Fund Launches in Central Java appeared first on Bitcoin News. View the full article

Amsterdam police have announced the re-arrest of Sindri Thor Stefansson. He was initially arrested days ago in Iceland in connection with a bitcoin hardware mining caper that included 600 computers worth $2 million. In a James Bond-like villain move, after his first capture he managed to escape, reportedly hitching a ride on a plane carrying Iceland’s prime minister. Also read: Bitcoin in Brief Thursday: ICO Scares Investors with Ghost Prank Bond-Like Bitcoin Villain Re-Arrested Mr. Stefansson, after have absconded, wrote to a popular online site to plead his case. “I simply refuse to be in prison of my own free will,” he explained to Frettabladid, “especially when the police threaten to arrest me without explanation. I’m not trying to say that it was the right decision to leave, I really regret it…I didn’t expect an international arrest warrant to be issued against me, as I was legally free to leave, and believed it was out of the question that I would be labelled a fugitive. I would never have done this if I didn’t believe I was a free man.” Sindri Thor Stefansson shown on CCTV while at large It’s something straight out of a movie. Media outlets are claiming Sindri Thor Stefansson to be a “mastermind”. He, at the very least, was implicated recently in a major crime for the country of Iceland: $2 million in computer mining hardware is missing, believed to be part of an elaborate theft conspiracy, involving a gang of 11 others including Mr. Stefansson’s wife. Mr. Stefansson escaped what local press refers to as “low-security” confinement after first being arrested. He was held in Sogn, an open prison 59 miles from the country’s international airport (95 km). It’s so loose it doesn’t have a fence, and detainees can even surf the net. Thought He Could Avoid Capture Indefinitely The mastermind slipped out through a window. He somehow later made it to the airport, procuring a flight boarding pass under an assumed name (though he paid with his own debit card), and managed to put himself on a flight to Sweden carrying Iceland’s prime minister, Katrín Jakobsdóttir. He wasn’t discovered missing by guards until well after the plane was airbound. An international warrant was soon issued for Mr. Stefansson. Downtown Amsterdam The Big Bitcoin Heist, as it has been tagged on the frozen island, involved bitcoin mining rigs grabbed in conjunction with four data center break-ins. Iceland has become a magnet for crypto miners due to relatively cheap electricity and its cold climes, helping the notoriously overheated instruments cool as they mine. Mr. Stefansson’s unorthodox public letter while on the run insisted he could remain elusive to authorities for “as long as I like”. Dutch police disagreed, arresting him downtown without incident and are presently arranging for his extradition back to Iceland. Do you think bitcoin mining rigs present a lucrative target to thieves? Let us know in the comments section below. Images courtesy of Shutterstock. Dutch police. Need to calculate your bitcoin holdings? Check our tools section. The post James Bond-Like Villain in $2 Million Bitcoin Heist Caught in Amsterdam appeared first on Bitcoin News. View the full article

Angellist, a popular website that allows startups to raise money from angel investors, has revealed data about new crypto job listings on its platform. The company details the hiring needs of companies in the crypto space and what jobs are in demand. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Crypto Job Listings Doubled Angellist revealed its new crypto job listing statistics last week. Citing that even though the price of bitcoin has dropped 60% since December of last year, the company wrote: In the last 3 months, the number of new crypto job listings has doubled. Angellist is a U.S. website created in 2010 for startups, angel investors, and job-seekers looking to work at startups. In July 2013, the company partnered with Crunchbase, an online tech company database owned by Techcrunch. Since 2015, the site has allowed startups to raise money from angel investors. What’s Behind Crypto Hiring Boom Angellist explained the driving forces behind the crypto job boom. Firstly, “the price run-up of bitcoin and ethereum in 2017 is attracting more people into the space for the first time, and the level of interest from the investor community is also at a record high.” The second factor is the ICO boom. Successes of startups in raising millions have attracted others to raise money in the same way. “For example, the team behind Filecoin recently broke the record for the largest ICO in history, raising $257M to build a decentralized file storage system,” Angellist elaborated, noting: The large sums of money going into the cryptocurrency space, from ICOs, to VC financings, and the price appreciation of bitcoin and ethereum, has led to a hiring boom at cryptocurrency startups. The company emphasized, “as cryptocurrency companies are growing, raising larger amounts of money at higher valuations, so are their hiring needs for finding top talent,” adding that over $3 billion was raised using token sales in March alone. In Demand Jobs Not only “experienced engineers who’ve worked on cryptocurrency projects are in high demand, but so are talented engineers with an interest in blockchain technologies,” the company detailed, noting: There are also open positions needing to be filled in marketing, business development, operations, customer support, and other job functions that don’t require a technical background. Similar to any other high-growth startups, cryptocurrency companies need to hire at job functions across the entire organization, and fast. What do you think of the rapid rise in the number of job listings in the crypto space? Let us know in the comments section below. Images courtesy of Shutterstock and Angellist. Need to calculate your bitcoin holdings? Check our tools section. The post Angellist: Number of New Crypto Job Listings Doubled in the Last Three Months appeared first on Bitcoin News. View the full article

The cryptocurrency trading market is about to receive an influx of more big banks, hedge funds and other financial institutions within the next few months to a year. A new survey shows that while most are keeping quiet in public about their crypto plans, many are preparing to enter the field. Also Read: Barclays Testing the Waters for a Cryptocurrency Trading Desk Big Players Prepare to Charge Toronto-headquartered multinational information firm Thomson Reuters Corporation (NYSE: TRI), published a survey on Tuesday revealing that 20% of financial institutions are studying the possibility of entering the cryptocurrency trading space within the next 12 months period. Furthermore, 70% of those considering starting trading cryptocurrencies are planning to do so in the next three to six months, according to the survey. The company says that the survey covered more than 400 of its clients across Thomson Reuters platforms including large asset managers, hedge funds and trading desks at the biggest banks. Over 300,000 financial professionals working in asset management, hedge funds and other institutions get access to cryptocurrency data (including price quotes for BTC, BCH and ETH) via the Thomson Reuters Eikon platform. “Historically, the banking sector has been notoriously dismissive of the crypto movement. Cryptocurrency has variously been called a bubble, an asset for criminals, and worthless. But today’s survey demonstrates that while financial institutions are saying one thing, they’re doing quite another,” commented Kevin Murcko, CEO of cryptocurrency exchange Coinmetro. “We’re witnessing a gradual institutionalization of the market, and this is sure to drive mainstream adoption. The move to accommodate digital currencies is also a symbolic one; it’s a sign of growing maturity in the market, and represents just how far cryptocurrency has come since its days of relative obscurity,” he added. Goldman Setting the Stage The most talked about major bank as widely considered to be in the process of entering the field is Goldman Sachs, although its CEO has denied in the past the rumors they are setting up a bitcoin trading desk. On Monday it was revealed that the company has recently hired Justin Schmidt, a former quantitative trader, to be the first head of digital asset markets in the company’s securities division. “In response to client interest in various digital products, we are exploring how best to serve them in the space,” Goldman Sachs spokeswoman Tiffany Galvin-Cohen confirmed in a statement. “At this point, we have not reached a conclusion on the scope of our digital asset offering,” she added. The bank should be more than aware of the huge demand hedge funds and other big investors have for cryptocurrency trading services. Circle, which is backed by Goldman Sachs, has recently doubled minimum ticket size on OTC bitcoin trades to $500,000 with an average of $1 million. And Chief executive Jeremy Allaire has told Business Insider that some transactions are now larger than $100 million and “That watermark will continue to rise.” Do you think it’s inevitable that all major banks will enter the bitcoin trading ecosystem? 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 20% of Financial Institutions Examining Starting Cryptocurrency Trading Soon 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. Token Pre-Sale has begun from Wednesday, April 18th and will be ending on April 30th, 2018. In the first round of presale, the price will be $1.5/XOXO. The company has sold more than 40% token in 24 hours of pre-sale. Later, coming up with the main sale at May 5th which will last till May 31st, 2018. While the price of xoxo token will be $2/XOXO during main sale. The main concept behind the launch of the XOXO token is to achieve the goal of expansion which has been seen by the experts of bitxoxo for taking the cryptocurrency to the next level of success. Bitxoxo Achievements: Bitxoxo has achieved in offering the best services and new products to its users. They are the first bitcoin exchange to launch Pre-Paid Gift cards and Referral system for customers. The exchange running for almost 2 years is active on both the mobile app (Android & iOS) and web portal, while they recently launched an ICO Launchpad for the ICO company to list their token. So, after a successful journey of 2 years as an exchange, it won’t be wrong in saying that the upcoming project of Bitxoxo is already a successful project. Bitxoxo Future Plans with XOXO token: Bitxoxo expands and offer new services of BCH (Bitcoin Cash) to all cryptocurrency investors and enthusiasts. The funds generated by the ICO, will be used for the future expansion of ongoing project and introduce new services and product development. The very First PoS App for Bitcoin Cash Bitxoxo International Debit Card for our users. Bitxoxo, the largest cryptocurrency exchange by trading volume. The exchange was founded in 2016 and running successfully in India, recently launched its Initial Coin Offering XOXO token. Bitcoin Cash marketplace with top 15 cryptocurrencies and more in order book model. Bitcoin Cash e-University Certification Program to spread the awareness of the blockchain technology and cryptocurrency to the mass and help people to become certified professionals etc. Bitxoxo Incubator to provide all the necessary needs like funds and advisory for the new blockchain startups. The expansion of Bitxoxo cryptocurrency exchange worldwide starting from Australia, Singapore and UAE etc. Bitxoxo takes this opportunity to welcome the Founder and COO of Bitcoin.com onto our advisory panel. Roger Ver, CEO of Bitcoin.com Founder of Bitcoin.com, popular as ‘Bitcoin Jesus’ Roger Ver is an early adopter and investors in Bitcoin. Ver is a motivation to numerous cryptocurrency enthusiasts, he makes people believe the value of crypto and blockchain to the world. He is an angel investor for many popular cryptocurrency and blockchain technology startups such as The Blockchain foundation, Blockchain.info, Ripple, Kraken, Bitpay etc. Mate Tokay, COO of Bitcoin.com Mate Tokay has been involved in the cryptocurrency business as a miner since 2013; he co-founded Bitcoinist.net a cryptocurrency news magazine and he is now the Chief Operation Officer at Bitcoin.com. Mate is a premier source for everything related to Bitcoin. He focuses on a larger vision and communicating that vision to others while staying on top of the major trends in the industry. Bitxoxo is heartily grateful for other experts of crypto to join our advisory board. Stephen Drew Stephen Drew possesses 20 years of experience in investment banking, fintech & real estates. He worked on Wall Street for 10+ years in trading and investment banking and 3 years in trading and investment in cryptocurrencies. Drew is an active partner of $100 million Crypto Hedge Fund based in NYC and the Caymans, Stephen always engaged in monetizing day to day operation of the fund from analyzing investments to speaking with high net worth individuals and family offices. Sydney Ifergan Sydney holds a degree in computer science and has 20+ years commercial experience. He has spent the last 10 years working in the online marketing arena and was the CMO for a large brokerage. In recent years, he has been consulting with various brokerages globally on their online marketing and the utilization of technology to improve their results. Robby Schwertner Robby Schwertner is an expert and part of many crypto and blockchain projects. He is a public motivator and speaker focusing on the expansion and progress of cryptocurrency and blockchain technology by addressing events and conferences on a global level. Boris Otonicar Boris Otonicar has a Masters degree in economics and psychology from the University of Zurich. He has a certificate as a Blockchain Specialist BVS. He consults companies in Blockchain issues and does ICO advising for different projects like Coinlancer, Districts, Coinloan etc. He is a top 20 at ICO Bench. To learn more about the Bitxoxo ICO visit their official website at https://bitxoxo.exchange/ You can join the XOXO token Telegram discussion and announcement: https://t.me/bitxoxo & https://t.me/bitxoxonews Contact Email : press@bitxoxo.exchange Supporting Link https://www.bitxoxo.com https://www.bitxoxo.exchange Contact Email Address media@bitxoxo.exchange 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: Bitxoxo Exchange Has Launched Its Own ICO Token appeared first on Bitcoin News. View the full article

Cryptocurrencies are breaking new price levels this week as markets are seeing gains across the board during the last two weeks of April. Yesterday’s trading sessions saw bitcoin cash touch a high of $1,560 per BCH as the currency has been on a relentless run over the past week. BCH prices are hovering around $1,477 at press time. Bitcoin core (BTC) prices touched a high of $9,410 but prices have dipped to the $9,340 range since reaching that vantage point. Overall there are quite a few digital assets seeing more significant gains than BTC as the spring trading season starts to melt the ‘crypto winter’ blues that recently plagued the community. Also read: ‘Coindaddy’ Another Crypto-Rapper Rhymes About Bitcoin Life The Cryptocurrency Price Reversal Rampage Digital currencies are seeing significant price reversals just before the month of May approaches. Out of all the 1,590 listed cryptocurrencies on Coinmarketcap, the cumulation of these assets have accumulated a market valuation of $422Bn USD. Bitcoin Core (BTC) markets have gained 14.4 percent over the last seven days but many other cryptocurrencies have seen much larger gains. In the top ten positions, some notable increases include EOS, as its markets spiked 53 percent over the past week, while IOTA jumped 31.9 percent. But Bitcoin (BCH) markets were the clear winner over the past seven days as BCH weekly prices have increased by 88.3 percent today. Bitcoin Cash Markets Climb Over 88% Over the Last Seven Days Bitcoin cash market volume has quadrupled over the last three weeks as the currency now commands close to $2Bn in 24-hour trade volume. This has propelled BCH into the fourth position in overall trade volume compared to all 1,590 other digital assets. The top five exchanges swapping the most BCH today include Okex, Bitfinex, Upbit, Huobi, and Binance. Fiat volume for bitcoin cash trades continues to rise over the last 48-hours as BTC pairs only account for 35.8 percent of today’s BCH trades. This is followed by the U.S. dollar (27%), tether (USDT 19%), the Korean won (11.3%), and the euro (2.6%). Ethereum pairs represent 1.4 percent of today’s bitcoin cash trades as well. The top ten cryptocurrency positions on April 24, 2018. BCH/USD Technical Indicators Looking at weekly, daily and the 4-hour charts show BCH bulls have been relentlessly charging without much exhaustion. At the time of writing bitcoin cash values are close to more powerful resistance levels in the $1,500 territories. Both the daily and 4-hour Relative Strength Index (RSI) indicator overbought conditions. MACd shows it may be heading southbound in the short term as well. BCH prices are hovering around $1,477 at press time on the exchange Bitstamp. 4-24-18. The two Simple Moving Averages (SMA) both short-term 100 SMA and the long-term 200 SMA have recently crossed paths. The 100 SMA is now above the 200 trend line indicating the path to resistance is on the upside. Order books show some stiff resistance for bulls between the price point now all the way up until the $1,600 region and a little more upwards past $1,700. On the backside some solid foundations have formed between the price level now and $1,400 but after that books begin to look quite thin. Bitfinex 4-hour BCH/USD with MACd & RSI indicators. The Top Cryptocurrency Market Performances Cryptocurrencies, in general, have done well over the last two weeks and the current momentum continues. BTC markets have seen a daily volume increase of $8.8Bn and a $157Bn market capitalization. However many other digital currencies have seen much bigger gains and BTC dominance is down to the 37 percent threshold today. Ethereum (ETH) markets are doing considerably well this week and are up 35 percent over the last seven days. One ETH is averaging around $695 per coin during the April 24 trading sessions. The third largest cryptocurrency valuation held by ripple (XRP) has seen seven-day gains around 37 percent. The market value of XRP today is $0.91 cents and markets command a $1.2Bn 24-hour trade volume. The cryptocurrency EOS has taken over the fifth top market capitalization as its markets have increased significantly this week. One EOS is hovering around $13.42 per token today with a $1.9Bn daily trade volume. The Verdict: Crypto-Optimism is in the Air Overall cryptocurrency market participants are extremely pleased with the past week’s runups in value. However, some traders are still skeptical that we are out of the bear market range as there have been a lot of false positive rallies over the last four months. So far the verdict is many traders and digital asset enthusiasts are confident 2018 will be just as spectacular as last year. Where do you see the price of BCH and other digital assets 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, Bitstamp, Trading View, and Coinmarketcap. Want to create your own secure cold storage paper wallet? Check our tools section. The post Markets Update: Cryptocurrencies Bring Bullish Gains This Spring appeared first on Bitcoin News. View the full article

Two countries have recently emerged as the new Meccas for token sales following bans in China and South Korea. The number of initial coin offerings in Singapore and Hong Kong has skyrocketed in recent months, as companies seek a favorable environment to raise funds outside their home countries. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space New Meccas for ICOs Singapore. With some countries cracking down on token sales, Hong Kong and Singapore have attracted companies seeking to raise funds through initial coin offerings (ICOs). According to Fintech businesses, lawyers, and industry groups, the number of companies launching ICOs in Singapore and Hong Kong “has skyrocketed in recent months,” South China Morning Post reported on Monday. The news outlet then quoted Anson Zeall, chairman of the Association of Cryptocurrency Enterprises and Startups Singapore, noting: We cannot say Singapore has become an ICO hub yet, as more work needs to be done, but yes, there has been a lot of activity since September last year. Hong Kong. He and others believe that this is partly due to China’s crackdown on ICOs. “In September, Beijing defined an ICO as an illegal fundraising tool after concerns over financial scams and money laundering. Dozens of ICO platforms in the country have since shut down,” the publication recalled. While China cracked down on cryptocurrencies and ICOs, Hong Kong remains open to them and has seen significant growth in the number of token sales. Neither Hong Kong nor Singapore currently has specific rules for ICOs. Lawyers and ICO issuers in both cities reiterated to the news outlet that raising funds through digital tokens remains loosely regulated there. ICOs Moved Out of China When China mandated domestic ICO issuers to refund investors and stop any new fundraising activities, many of them moved abroad. Daisy Wu is among those whose companies have turned to Singapore shortly after Beijing’s ban. “We wanted to avoid legal risks,” she was quoted. Her company, the Beijing-based Xender, is now trying to raise US$10 million through an ICO for a file-sharing service, the news outlet detailed. Wu confirmed: Many Chinese companies have gone to Singapore for ICOs…We all want to play it safe. Ben Yates, a lawyer with RPC specializing in fintech and cyber law, said that he has seen significant growth in ICO-related inquiries since September, elaborating: It is very likely that the surge in the number of ICO inquiries we have received in the past few months is at least partly a consequence of the restrictions in mainland China…The obvious next step for many Chinese ICO issuers to take is to cross the border. You can still speak Chinese, but you can operate in a more favourable regulatory environment. Korean Fever & Bithumb’s ICO South Korea also banned ICOs in September of last year, forcing local issuers to look elsewhere. They have also reportedly poured into Hong Kong and Singapore recently. “Some argue that there is no legal basis for an ICO ban in Korea, but the authorities say that current laws alone are sufficient,” Money Today Network noted. Earlier this month, news.Bitcoin.com reported that corporations in South Korea are attempting to bypass regulations using subsidiaries overseas to launch their ICOs. Last week, local media reported that Bithumb, one of South Korea’s largest crypto exchanges, is planning to launch a “Bithumb Coin” ICO through a Singaporean corporation. Another South Korean startup, Zikto, is also reportedly preparing an ICO in Singapore. What do you think of Hong Kong and Singapore as the hubs for ICOs? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Hong Kong and Singapore Emerge as New Meccas for Token Sales appeared first on Bitcoin News. View the full article

Myetherwallet (MEW), the web’s most popular client-side ethereum wallet, has been compromised by a DNS attack. Numerous users are reporting missing funds and Mycrypto, a sister site which spun off from MEW earlier this year, has confirmed as much. The incident highlights the dangers of relying on a centralized interface, even when the funds are held by the individual, and exposes the inherent weaknesses of the Domain Name System. Also read: 16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan Myetherwallet Users Report Missing Funds On April 24, scores of Myetherwallet users began to report suspicious activity when trying to access the web-based ethereum interface. As the web’s most popular client-side ethereum wallet, MEW is widely used for sending money to crowdsales, buying Cryptokitties, and conducting many more day-to-day transactions that involve sending ether or ERC20 tokens. The platform does not hold user funds, but like all websites it is still at risk of being hacked by having its DNS servers taken over, exposing the data of anyone who interacts with the service. Shortly after rumors began to circulate, MEW issued a tweet to confirm their veracity: The first signs that something was wrong emanated from the Myetherwallet Reddit, where a user posted a thread entitled “Think I got scammed/phished/hacked”. They had twigged that something was amiss after seeing the following notice when visiting the site: They explained: “Even though every part of my body told me not to try and log in, I did. As soon as I logged in, there was a countdown for about 10 seconds and A tx was made sending the available money I had on the wallet to another wallet.” The address the funds have been sent to currently displays on Etherscan with a warning noting that it may have been involved in a MEW scam. It has conducted 180 transactions, and claimed a total of 215 ETH. It’s been reported that the server MEW users were redirected to is based in Russia. Mycrypto Reveals More Earlier this year, rival site Mycrypto launched as a direct competitor after the Myetherwallet founders went through an acrimonious split. While the Mycrypto team would not wish misfortune on any members of the ethereum community, there may have been a touch of schadenfreude evident in their willingness to frankly disclose the nature of the predicament MEW has found itself in, writing: My crypto also wrote: “Lots of anti-phishing folks in the community and on our team are attempting to collect information about what happened to MEW, as well as attempting to get in touch with their team to assist in any way we can. Moral of the story: use a hardware wallet or run offline.” Services such as Myetherwallet and Mycrypto can be used on desktop by downloading the software, which eliminates the risk of DNS attack. DNS attacks are becoming more prevalent. In December, another ethereum-based platform, Etherdelta, was hit by a similar attack to the one that has affected MEW, with users also reporting stolen funds. Myetherwallet is not the only crypto site to have had DNS issues today either. Earlier, Binance tweeted to say that Google’s DNS were down, preventing some users from accessing the exchange. Incidents such as today’s MEW attack demonstrate that for all the precautions a user may take, websites still present a single, centralized point of failure. What do you think can be done to prevent DNS attacks from occurring? Let us know in the comments section below. Images courtesy of Shutterstock, and Twitter. Need to calculate your bitcoin holdings? Check our tools section. The post Myetherwallet Servers Are Hijacked in DNS Attack appeared first on Bitcoin News. View the full article

The new Japanese cryptocurrency association comprising of sixteen government-approved exchanges debuted on Monday. The group has unveiled its plans to spearhead self-regulation in order to rebuild the public’s trust in the crypto industry. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space New Japanese Association Debuts Sixteen fully-licensed cryptocurrency exchanges in Japan have formally launched a new crypto association. The group held a press conference on Monday to detail its plans for self-regulation “in order to rebuild public trust battered by a high-profile theft,” Nikkei reported. Press conference held by the new Japanese cryptocurrency association. “The organization is expected to release trading and disclosure rules this summer,” the news outlet elaborated, adding that the group “plans to open its doors to those operating provisionally while the government watchdog reviews their applications.” Taizen Okuyama. The founding exchange members are Money Partners, Quoine, Bitflyer, Bitbank, SBI Virtual Currencies, GMO Coin, Bittrade, Btcbox, Bitpoint Japan, DMM Bitcoin, Bitarg Exchange Tokyo, FTT Corporation, Bitocean, Fisco Virtual Currency, Tech Bureau, and Xtheta. The group also held its first board of directors meeting and chose its key executives. President of foreign exchange platform provider Money Partners Group, Taizen Okuyama, was appointed the chief of the new organization. The publication quoted him declaring: We’ll pursue self-regulation to further the market’s healthy development and allay uncertainty among cryptocurrency users. Three Priorities Named The group will focus on three priorities, the news outlet detailed. The first, as expressed by Okuyama, is the protection of customers. While the Japanese law “requires exchanges to manage customer assets separately from their own,” he admitted that “such a standard is a matter of course for securities firms and foreign exchange brokerages. Compliance has been patchier among cryptocurrency exchanges.” Another priority is to ensure “an orderly rule-making process,” he described, citing as an example the issue of “leverage limits for margin trading and management of insider information, including what currencies a given exchange plans to start supporting.” Founding members of the new Japanese cryptocurrency association at the press conference on Monday. The third priority is “improving disclosure.” The CEO of Money Partners Group explained, as conveyed by Nikkei: [Cryptocurrency] exchanges rarely provide statistics such as total accounts and assets, leaving consumers with too little information to choose one over another. Online brokerages, by contrast, release this data monthly. The group aims to establish a system for timely disclosure, the news outlet detailed, noting that the country’s financial regulator, the Financial Services Agency (FSA), “applauded the group’s creation as a welcome, if overdue, move toward reform.” Furthermore, Okuyama said that the association will leave the regulation of initial coin offerings (ICOs) to the judgment of an FSA study group. What do you think of this new Japanese association and its self-regulatory priorities? Let us know in the comments section below. Images courtesy of Shutterstock and the new Japanese Association. Need to calculate your bitcoin holdings? Check our tools section. The post 16 Regulated Crypto Exchanges Unveil Plans to Restore Public Trust in Japan appeared first on Bitcoin News. View the full article

For some obvious reasons, but also irrational fears, big players like China, Russia, and the European Union are wary of cryptos like bitcoin. Centralized control doesn’t square with decentralization. However, often that’s not how their own regions and smaller neighbors feel about cryptocurrencies. In today’s Bitcoin in Brief we cover some recent developments mirroring this divergence of interests. The balance between center and periphery is likely to determine the future of cryptocurrencies in Eurasia and beyond. Also read: Bitcoin in Brief Monday: Snatching Blockchain, Tracking Bitcoin Only Cryptoyuan, Only Cryptoruble China will not allow any cryptocurrency other than a digital yuan, a Chinese entrepreneur recently told Russian media. Huan Zhang’s company, DAEX Blockchain Group, is working on a clearing ecosystem for cryptocurrencies in collaboration with Russian counterparts. She believes the decentralized nature of blockchain technologies and a centralized clearing platform should be balanced well for the crypto market to function properly. “China treats the blockchain in a positive way, but fears cryptocurrencies,” Zhang told Sputink. “The central bank is working on its own digital coin, cryptoyuan, and authorities won’t allow any other cryptocurrency in the country,” she said on the sidelines of the economic forum in Yalta, Crimea. The Central Bank of Russia is also wary of decentralized cryptocurrencies. On multiple occasions, its representatives have spoken against their uncontrolled circulation and free exchange. The idea of a cryptoruble has its supporters among Russian officials, including in the CBR. For many Russian regions, however, a centralized crypto as a state-issued alternative is simply not good enough. The western exclave of Kaliningrad and Russia’s far-eastern capital Vladivostok, for example, are willing to create offshore zones for businesses working with decentralized cryptocurrencies. Crypto-Crimea Planned The Autonomous Republic of Crimea, which hosted the Yalta Forum, has been dealing with sanctions since it joined the Russian Federation. Local officials are convinced that a vibrant crypto sector could help the region overcome international isolation and develop economically. They have recently asked for permission to set up a crypto offshore zone, crypto exchange, crypto cluster, and even issue a Crimean crypto. The Russian Cryptocurrency and Blockchain Association is actually working on a “Crypto-Crimea” plan encompassing all proposals. Forget about China, Think of Hong Kong Beijing’s crackdown on cryptocurrencies has turned China’s own Special Administrative Region of Hong Kong and the Asian city-state of Singapore into wanted destinations for investors and businesses raising crypto funds. The number of startups launching initial coin offerings (ICOs) in these two territories has sky-rocketed in recent months, according to local fintech entrepreneurs, lawyers, and industry organizations. “Yes, there has been a lot of activity,” said Anson Zeall, chairman of Singapore’s Association of Cryptocurrency Enterprises and Startups. Like many others in the sector, he thinks the increase is related to China’s retreat from ICOs. Thanks to its independent legal system, Hong Kong has also seen significant ICO growth. As reported by Chinese media, all ICO platforms and Bitcoin exchanges have already exited the Chinese market as a result of official warnings of the risks associated with investing in these projects. Well, others, including Hong Kong, which is part of China, are still willing to accept the risks, supporting innovation and economic growth. Europe and the Europeans While United Europe has recently confirmed serious intentions to end anonymity for crypto traders, with a vote in the European parliament last week, crypto exchanges are not turning back on Europeans, not yet. Many trading platforms have decided to move closer to the Old Continent, not too close, though – Switzerland, Gibraltar, Malta, even the exiting UK. Maltese authorities are on a crusade to make their island the friendliest jurisdiction for the crypto sector. Proposed regulations are tailored to provide crypto exchanges, brokerages, asset managers, and crypto users with “legal certainty”. Two of the world’s largest cryptocurrency trading platforms have confirmed intentions to relocate operations to Malta. Binance, which announced it is moving to the “Blockchain Island”, recently said it will hire up to 200 people there. Following its decision, the Chinese rival Okex said it’s also coming to island. Other crypto companies have followed in their footsteps, including Berlin-based blockchain firm Neufund and the gaming platform operator Abyss. Looking to expand beyond Asia, another Chinese exchange, Huobi, is planning to set up an office in London, despite Brexit. “Our statistics show that London is the most active trading scene across Europe,” Chern Chung, Huobi’s senior business development manager for Europe, has been quoted as saying. “Absolutely – London, Britain is the entry point for the European market for us,” Vice-President of Huobi Group Peng Hu confirmed. Beyond Eurasia Crypto businesses are often known for swimming against the stream. The crypto exchange Golix, which has recently felt the heat from competition in bitcoin-loving Zimbabwe, has announced plans to expand its operations to neighboring South Africa. In partnership with the local crypto hub Blockstarters, the trading platform wants to increase its network on the continent, tapping into the very active South African market. Authorities in the regional powerhouse have recently taken steps to tax crypto incomes and transactions, which can curb crypto trade. On the other hand, self-regulation has been mentioned as a solution for the South African crypto sector. So, at the end of the day, Golix might have taken a sound business decision. Do you agree that the diversity of interests in each country and region helps cryptocurrencies? Share your thoughts in the comments section below. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post Bitcoin in Brief Tuesday: Wary Giants, Eager Dwarfs appeared first on Bitcoin News. View the full article

Earlier this week the blockchain technologies research and development firm Nchain released its 1.0 version of Nakasendo a software development kit (SDK) specifically designed to bolster the Bitcoin (BCH) network. Nchain details that the Nakasendo SDK is available for software programmers focusing their energy and resources towards bitcoin cash application and platform development. Also read: This Week in Bitcoin: Taxes, Forks, Pranks and Porn A More Flexible Method of Key Generation and Sharing The London-based Nchain has released an SDK this week for software developers looking to innovate using the BCH blockchain. The SDK is called ‘Nakasendo,’ which is a Japanese name of an ancient trail connecting Edo to Kyoto. In Japanese, the translation means “road through the middle mountains” or “central mountain route” according to Nchain. At the moment, the 1.0 version of Nakasendo is only available to a select group of developers and teams that have been chosen in an initial testing pool. Nchain says that the Nakasendo SDK will be made more available at a later date. Nchain reveals that the Nakasendo SDK will help Nchain port software libraries that will assist programmers in designing bitcoin cash applications. The SDK designed by Nchain is meant to navigate the complexities of blockchain development, and accelerate work. The London firm states that the SDK incorporates two patents from the company’s intellectual property portfolio. “Version 1.0 of the SDK focuses on providing a cryptographic library, to allow for a more flexible method of key generation and sharing,” Nchain explains. This cryptographic library can be used to improve security for any cryptocurrency exchange, and more broadly for controlling access to any type of digital asset or resource. The Open Bitcoin Cash License The company reveals two inventions in the SDK that were curated by Nchain’s Chief Scientist Dr. Craig Wright. The concepts enable the deep prevention of “Mt. Gox-type” hacks of cryptocurrency wallets, and Nchain says they can also be used “far beyond Bitcoin and blockchain environments — for any situation in which sensitive data, assets, communications or controlled resources need to be secured.” Moreover, the firm is releasing the Nakasendo SDK for use under what they call an “Open Bitcoin Cash License.” The license is crafted similarly to the Microsoft Limited Public License, and the BCH license will allow royalty-free usage of the SDK libraries, and any associated patents — but only for developers who create software or applications that operate on the Bitcoin (BCH) blockchain. “We are excited to reach this milestone with the Nakasendo SDK, which will help developers navigate the mountains of blockchain work — Although the SDK libraries will be useful for developers on any blockchain or digital platform, we want to use key elements of nChain’s patent portfolio to help benefit the Bitcoin Cash ecosystem,” Nchain Group’s CEO Jimmy Nguyen explains. That is why we are providing the SDK for free usage only for applications and products that operate on the Bitcoin Cash (BCH) blockchain. The SDK is one of many tools Nchain will use to ignite the BCH blockchain, and help re-invent the business world. Nchain’s chief scientist Dr. Craig Wright (left) and the company’s CEO Jimmy Nguyen (right) No Other Coin or Fiat Will Do These Things One of the selected testers of the Nakasendo SDK has explained the building blocks provided have helped them further accelerate their application. The bitcoin cash wallet provider Handcash an SPV client that enables Near Field Communication (NFC) transactions has been testing Nchain’s SDK. “We are currently testing Nchain’s Nakasendo SDK. It turned out to be the missing piece for an upcoming feature that will allow us to advance to the next stage with Bitcoin Cash — Good thing about patents: No other coin (or fiat) will do these things,” Handcash notes on April 22. What do you think about Nchain’s SDK and open license for bitcoin cash developers? Let us know what you think in the comments below. Images via Pixabay, Nchain. 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 Nchain Launches Nakasendo SDK for Bitcoin Cash Development 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. HONG KONG – April 24, 2018 – CoinFi, a leading market intelligence platform offering Wall Street-caliber trading tools, signals, and analysis on the cryptocurrency market, today announced a strategic partnership with HybridBlock, a crypto e-learning hub, trading platform, and global exchange. The joint venture enables CoinFi to syndicate HybridBlock research and analysis and integrates smart order routing through HybridExchange, HybridBlock’s web-based trading platform. HybridBlock will incorporate CoinFi’s trading tools and data feeds for its intermediate and advanced users as well as curate original research by CoinFi’s analysts. The partnership, which is expected to ramp up the build and development of more robust product offerings for both brands and accelerate organic user growth, comes after each company successfully raised funding via Initial Coin Offering (ICO) earlier this year. CoinFi met its hard cap of $15 million via a private ICO in January, while HybridBlock raised $44 million during its pre-sale period in March. “We see a lot of mutual benefit coming out of this strategic partnership with HybridBlock,” said CoinFi co-founder and former Goldman Sachs equities trader Timothy Tam. “HybridBlock is positioned to be an important player in the Asia-Pacific cryptocurrency trading space. We’re excited about the potential of leveraging HybridBlock’s Hybrid Exchange technology for smart order routing and looking forward to implementing CoinFi trading signals, algorithms, and data feeds on HybridBlock’s platform, where they will provide a critical edge for HybridBlock’s intermediate and advanced traders.” “Both HybridBlock and CoinFi strongly believe that education is a critical piece to mass adoption of cryptocurrencies,” said HybridBlock co-founder Rod Jao. “As part of continuous education, HybridBlock encourages our users to keep updated with relevant crypto-related news, and we’re excited to syndicate CoinFi’s expert cryptocurrency research and analysis on Hybrid Central”. HybridBlock co-founder Rod Jao has always respected Mr. Tam’s work ethic and vision. “Timothy’s Wall Street experience has allowed CoinFi to be truly innovative and visionary; merging WallStreet intelligence and sentiment software with the blockchain, a critical missing component,” said Jao. The rapidly growing world of cryptocurrency markets – market capitalization of all cryptocurrencies passed $700 billion in January – has created a tremendous need for education as well as real-time news, analysis, and trading tools. With the partnership, CoinFi and HybridBlock bring further clarity and resources to the market. CoinFi recently released its platform for crypto financial data and market-moving news feeds. The company is also slated to launch a suite of trading signals and institutional-quality algorithms later this year. This coincides with HybridBlock’s upcoming Open Token Sale and the launch of their platform to the world. “We want to deliver the very best tools for our customers to ensure the best chance of success and this partnership is another step towards that objective,” said Rod Jao. For more information, visit www.CoinFi.com and www.HybridBlock.io. About CoinFi CoinFi (KuCoin: COFI) is the world’s first decentralized crypto market intelligence platform, bringing Wall Street-caliber financial intelligence to the cryptocurrency markets. Founded in 2017 by technologists and former Wall Street analysts, equities traders, and hedge fund managers, the company is based in Hong Kong an recently completed a $15 million private token sale to further expand its technology and trading tools. CoinFi offers crowdsourced and professionally curated research, analysis, trading signals, trading algorithms, and market-moving news to give traders the real-time market intelligence needed to gain an edge. With a community of over 100,000 cryptocurrency traders, CoinFi is poised to become the leading provider of market intelligence for the cryptocurrency markets. About HybridBlock HybridBlock has created a premium educational platform called Hybrid Central that guides you through a gamified educational experience to explain basic blockchain terminology, help you purchase and trade your first cryptocurrency, offer opportunities to develop blockchain-based skills, and facilitate participation in the global blockchain community. In addition, the company has developed several trading applications that cater to traders of various levels: beginner (Basetrade), intermediate (HybridExchange), and advanced (HybridTerminal). Contact Email Address nate@coinfi.com Supporting Link https://www.coinfi.com 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: CoinFi Partners with HybridBlock to Expand Crypto Intelligence Offerings appeared first on Bitcoin News. View the full article

In a little more than three weeks time the Bitcoin (BCH) network will hard fork by upgrading its block size to 32MB and incorporate additional functionalities to the protocol. Currently, the entire community is steadily preparing for the consensus change as development teams release new code, while users and infrastructure providers upgrade their full node implementations. Also read: Five Reasons Why Bitcoin Cash is About to Win Big The BCH Network Will Perform the Biggest Block Size Increase in History The decentralized cryptocurrency bitcoin cash and its network will be upgrading this May 15 at approximately 12:00:00 UTC, 2018. The Median Time Past (MTP) method will activate the consensus change. BCH proponents are pretty excited for the upgrade, to say the least, as the 32MB block size increase will be the largest block size expansion of its kind within the cryptocurrency landscape. The increase will allow developers to maintain consistent transaction throughputs for the billions of people living in the world, alongside on-chain fees anyone from any developing nation can afford. Using today’s statistics BTC is more than 10.73X more expensive to transact with than BCH. Next month’s bitcoin cash 32MB block size increase will allow enough room for transactions for years to come. Tokenization and Smart Contracts Are Coming Colored coins and representative tokens are coming to the BCH chain. In addition to the large block size increase, the BCH chain will incorporate other features that have created excitement throughout the bitcoin cash community. For instance, the BCH development teams have added certain OP_Codes and a larger OP_Return data size. This upgrade will enrich BCH with a variety of robust features such as tokenization and the ability to program simple smart contracts via the BCH chain. Instead of using a separate platform like Ethereum or Counterparty, BCH developers will be able to create representative or color coins that can be backed by anything. After the hard fork and some community development, things like bonds, stocks, precious metals, commodities, and any physical or virtual object can be represented by a BCH backed color coin. With a smart contract functionality, the BCH chain can be used to program autonomous actions like dispersing BCH to your children or spouse at a later date in time. BCH-based smart contracts and scripting abilities are on the way. Prepping for the Upgrade Out of the 1,762 public Bitcoin (BCH) full nodes in 42 countries, many of these nodes who use the ABC client have begun to upgrade their nodes to the latest Bitcoin ABC release which contains the necessary May 15 changes. At the moment according to node data, Bitcoin ABC represents 62 percent of the BCH network, while more than 58 percent of those nodes have upgraded to the version 17 ABC release. Other clients represented within the BCH network include Unlimited, Parity, XT, and Bitprim. The Parity client’s development team seems to be adding the necessary code changes this week on Github. Bitcoin Unlimited’s (BU) 1.3.0.0 BCH implementation has been prepared to accept the consensus changes and a public release is now available. “This release implements Bitcoin Cash, compliant with the latest hard fork (May 15, 2018), including 32MB blocks, extended OP_RETURN data, and additional opcodes,” explains the BU team. The Bitcoin XT Cash client has also updated its full node implementation and has released its latest version to the public that mandates a 32MB block size limit consensus change. The XT release changes indicate support for the Bitcoin Cash May 2018 protocol upgrade and Cashaddr by default. Full node implementations are steadily upgrading clients to accept the May 15 upgrade. After the May Upgrade More Features Are in Store for Bitcoin Cash Bitcoin cash proponents seem ready for the pending upgrade, as last year the community completed a successful revised Difficulty Adjustment Algorithm (DAA) change, alongside a Base32 address serialization. The pending 32MB upgrade and re-enabling Satoshi Op_Codes are on the way this May. Then BCH enthusiasts still have more innovation to look out for after those changes are complete. For instance, the Bitcoin ABC team is working on UTXO commitment changes, and ABC and XT developers are collaborating on another DAA using a new PID control algorithm. The BU development team is in the midst of researching and testing a new block method called Graphene, and enabling binary contracts via OP_Data sig verify. What do you think about the upcoming Bitcoin Cash upgrade slated for May 15? Let us know in the comments below. Images via Shutterstock, Pixabay, Bitcoincash.org, and BCHnodes.online. 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 Cash Proponents Prepare for the Largest Block Size Increase Ever appeared first on Bitcoin News. View the full article

Former Obama administration financial regulator Gary Gensler believes cryptocurrencies such as ether and ripple appear as unregistered securities, and in current violation of the law. His comments carry considerable weight in the broader financial community. They also come after venture capitalists and lawyers invested in ether projects met secretly with the US Securities and Exchange Commission (SEC) to head off such regulation. Spokespeople for both coins insist they’re not securities. Also read: Telegram Urges Paper Airplane Protest, Pussy Riot Activist Arrested Ether and Ripple Might Be Securities Former Obama CFTC head Gary Gensler told The New York Times, “I would be surprised if 10 years from now this isn’t somewhere in the financial system in a meaningful way. But so much of the stuff that is being promoted now will not be around.” The ‘this’ he’s speaking of is cryptocurrencies, and as part of his appointment to the Massachusetts Institute of Technology (MIT), Mr. Gensler is weighing in on the phenomenon’s future with regard to regulation. In particular, he’s focusing upon two of the most popular cryptos, ether and ripple, as potentially very susceptible to future designation as securities. Should that happen, many experts believe it would herald the decline of both. Securities regulation imposes a host of legal burdens upon registrants, and costs to comply are often prohibitive and burdensome. “There is a strong case for both of them — but particularly Ripple — that they are noncompliant securities,” he told Nathaniel Popper. Bitcoin and others like it are decentralized to such an extent as to not trigger regulation, he believes. That’s not so clear in the cases of ether and ripple, both of which Mr. Gensler insists are in violation of securities law. “2018 is going to be a very interesting time. Over 1,000 previously issued initial coin offerings, and over 100 exchanges that offer I.C.O.s, are going to need to sort out how to come into compliance with U.S. securities law,” the Times quotes him as saying. Indeed, representatives with heavy financial interests in ether-related projects recently were discovered to have secretly pled their case to the SEC in hopes of heading off what some say is certain regulation. That’s a potential problem for tens of billions of dollars in coins respectively when ether and ripple are combined. Impact Not Good Gary Gensler Should such a designation be handed down, one of crypto’s largest markets, the United States, would essentially be cut off, made against the law for trading ETH and XRP on exchanges. It’s not too extreme to figure such a move would impact both coins’ prices, and probably not in a good way. Mr. Gensler, 60, was tapped by MIT’s Media Lab and its Digital Currency Initiative, along with being a lecturer at its Sloan School of Management (with a blockchain emphasis) for his expertise in the financial sector. His views on the future of regulation carry heft simply because of his past experience in the Obama administration, and previous connections to Goldman Sachs as well as helping to finance the ill-fated Hillary Clinton run of 2016. Asked for comment about Mr. Gensler’s claims, the Ethereum Foundation answered how it “neither controls the supply of nor has the ability to issue Ether, and the quantity of Ether that the foundation holds (under 1 percent of all Ether) is already lower than that held by many other ecosystem participants,” according to the Times. A Ripple spokesperson responded by insisting, “XRP does not give its owners an interest or stake in Ripple, and they are not paid dividends. XRP exists independent of Ripple, was created before the company and will exist after it.” Do you think ether and ripple should be regulated? 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 Ether & Ripple Doomed As Securities According to Regulation Expert appeared first on Bitcoin News. View the full article

One of bitcoin’s leading luminaries, Vinny Lingham has an opinion on everything and an uncanny ability to sense market movements, earning him the moniker of Bitcoin Oracle. News.Bitcoin.com caught up with the serial entrepreneur to get his thoughts on bitcoin cash, Lightning Network, token models and more. Also read: Five Reasons Why Bitcoin Cash is About to Win Big Vinny Lingham on Regulation On April 20, over 1,000 delegates gathered at the Fairmont in Santa Monica for Start Engine’s ICO Summit 2.0. The event began sharply at 8:30am, with Vinny Lingham the most recognizable figure on a panel titled The State of ICO Regulation. Afterwards, news.Bitcoin.com sat down with the Civic founder for a chat about dual token models, blockchain scaling, and the acrimony that’s riven elements of the bitcoin community. The overarching message to emerge from the summit was that most tokens are securities, and following the regulatory route – likely Reg A+ – is the only way to avoid SEC censure. “If the price of something is determined by its ability to deliver an investment return then it’s a security,” acknowledges Vinny. Belatedly accepting that many, if not most, ICO tokens may fall into that category, a number of projects have opted for a dual token model, one a utility, the other a dividend. Vinny Lingham is not a fan of this setup however, opining: People will raise money by whatever way they possibly can [even] if it means bending the rules, changing the system, and unsuspecting people will wind up putting up the money to buy it. But just because you can raise money in a certain way doesn’t mean you should. Like most of the delegates at the Start Engine conference, he’s convinced that the industry is headed towards securities, complete with the full regulatory compliance that brings, venturing: “I think security tokens will outpace utility tokens by a mile in the next three years”. A month previously, in a blog post titled The Value Trap Dilemma, he wrote: “If you’re building a utility token, it has to have real utility — if you’re just using it to raise money, then it’s a security.” Don’t Fear the SEC On the same day that news.Bitcoin.com spoke to Vinny Lingham, details were emerging of the SEC-led complaint against Centra, including allegations of the ICO’s founders pumping the price and creating fake team members. When asked whether there’s likely to be further subpoenas in the token space, Vinny responds: “There will definitely be some. They’re going after the most egregious people.” He doesn’t believe that escalating SEC activity could impact on all U.S.-based token projects, though, including his own Civic, adding “I sleep very well at night, I don’t worry about the next day waking up and [receiving a subpoena]”. Vinny was tight-lipped about future developments for Civic other than to confirm there are “lots” on the way, some of which will emerge at the Consensus summit on May 14-16 in New York. He gives short shrift to the string of identity-based projects that have emerged since Civic, referencing a recent tweetstorm he composed on the topic, and proclaiming: “If you ask someone what are the top companies in the [identity] space, Civic will always come up number one. And there’ll always be a different number two.” Vinny Isn’t Struck by Lightning When conversation switched from the token economy to bitcoin, Vinny predictably had a lot to say about BTC, BCH, and the scaling methods attempted by both sides. There’s a tendency for proponents (or “maximalists” as the more devout are sometimes branded) to fall on one side of the divide rather than straddle the fence. Vinny Lingham is much more measured, seeing the merits in both strands of bitcoin, whilst remaining broadly supportive of the approach taken by Bitcoin Cash. The South African entrepreneur isn’t a fan of the elements that are “too extreme” and encourages both camps, Cash and Core, to “exercise some restraint”, particularly when it comes to asserting which brand of bitcoin is the true bitcoin. A day after talking to news.Bitcoin.com, he shared the following tweet: When asked whether he believes a sizeable Bitcoin Core contingent are pinning all their scaling hopes on Lightning Network (LN), Vinny agrees vigorously. “It is the panacea for them right now. Lightning is a big thought experiment which is in code right now and is not proven. How much money is in Lightning – less than $100k? There’s nothing there.” While acknowledging the effort that has gone into developing LN he says: Lightning, maybe it works, maybe it doesn’t. The point is, you’re going from something that’s proven, that can scale [increasing the block size], at least to some degree, versus something which is unproven [LN] and it may not be able to scale, and we’re pinning our hopes on it. It’s very impractical. “I think Segwit’s got some flaws in it,” says Vinny at one stage, before asserting that in the short to medium-term it makes more sense to increase the block size, venturing that “There’s no real centralization risk with [increasing the BTC block size to] two megabytes. There’s no centralization there and anyone who thinks otherwise is stupid. Let’s say the number of nodes that could afford to run in the long-term dropped by around 2%, that’s not going to create centralization.” Decentralization Isn’t Everything On the topic of decentralization, and the sacrifices that must be made to increase the speed of new blockchains, Vinny predictably has a lot to say: EOS is one where there is a trade-off, it’s more centralized, but it’s not very centralized. I think there’s a balance you can get. Like, how many nodes is enough [to ensure decentralization]? That’s the real question and no one can give me an answer…Is it a billion? Give me a number, any number. He agrees that new blockchains are still years away from needing to fulfil the half a billion transactions a day they purport to offer, adding: “That’s exactly my point. We’re nowhere close to the usage of needing to worry about it. Instead of kicking the can down the road and worrying about it later, we’re trying to deal with this now and it’s not an issue right now.” The interview concludes with Vinny reflecting a sentiment that is expressed multiple times during the course of the summit by investors, lawyers, and entrepreneurs: that the token economy is “such a dynamic space you’re basically just guessing what [governments and regulators] are gonna do next.” The Bitcoin Oracle has been proven right about many things, but when it comes to figuring out regulators, even he’s in the dark. Do you agree with Vinny Lingham that certain elements within the BCH and BTC communities are too ‘extreme’ in their views? Let us know in the comments section below. Images courtesy of Shutterstock, Twitter, and Vinnylingham.com. Need to calculate your bitcoin holdings? Check our tools section. The post Vinny Lingham Interview: Scaling, Securities and Bitcoin Extremism appeared first on Bitcoin News. View the full article

Russian ICOs attracted a total of $300 million last year but half of the funds went to financial pyramids, according to the Russian Association of Cryptocurrencies and Blockchain. The organization that represents the crypto community in the country is now working on an ICO standard to help investors distinguish real projects from fraudulent schemes. Russian ICOs account for 10% of global volume. Also read: Russia’s Supreme Court Overturns Decision to Block Bitcoin Website Russia Expects Up To $1.5 Billion from Coin Offerings At least $150 million dollars raised by Russian ICOs in 2017 were collected by pyramids, RACIB revealed, while announcing a plan to fight financial fraud in token sales. The initial coin offerings with Russian participation account for 10% of the global market, as news.Bitcoin.com previously reported. The association expects Russian projects to attract $1-1.5 billion USD in 2018. This is some serious money and the Russian crypto community believes the country should take advantage of it. Two major factors can influence negatively these investments and RACIB is actively working on both fronts. Excessive regulation may force Russian companies to seek jurisdictions with a more favorable climate for crypto business. The association already warned about that in a report addressed to President Putin. RACIB is also preparing an “ICO standard” to help investors distinguish real ICOs from fraudulent schemes. A startup conducting a coin offering will be judged by several criteria, including the credibility of its team members, Izvestia reported. RACIB will verify if the company has a website with information about previous projects. The association will check for a white paper and a roadmap for the ICO. Startups will be expected to announce a minimum rate of return of the investments. The ICO standard is part of efforts to introduce a level of self-regulation and will not be included in the upcoming legislation. Two bills regulating the crypto sector have been filed in the State Duma, the lower house of Russia’s parliament. The draft law “On digital financial assets” legalizes various crypto activities, including initial coin offerings. Another bill aims to amend the civil code in order to regulate the use of “digital money” in payments and protect investors’ rights and interests. Authorities Agree, Some Self-Regulation Is Necessary The chairman of the parliamentary Financial Market Committee, Anatoliy Aksakov, shares the view that the ICO sector should regulate itself to a certain extent. The proposed legislation covers token sales only in general terms, he noted. The details can be introduced through self-regulation, the lawmaker added. Some Russian experts believe that only “qualified investors” should have access to initial coin offerings. “Citizens can lose money not only because a project might be fraudulent, but also because they don’t understand cryptocurrencies very well,” says Teimuraz Vashakmadze from the Russian Presidential Academy of National Economy and Public Administration. Investments in tokens can be highly risky, he warns. Clear and transparent self-regulation by market participants will help minimize fraud in this sector thinks Igor Nikolaev, Director of the Institute of Strategic Analysis at FBK Grant Thornton. However, he is unsure if that will help the market at all. Nikolaev says that the potential of digital currencies is limited due to the reluctance of central banks to recognize them as means of payment. The State Duma has already accepted the bill “On digital financial assets”, which was also reviewed by the Cabinet of Ministers. This draft, along with the amendments regulating the use of cryptocurrencies, should be adopted by early summer, probably in time for the football World Cup. Russia is expecting $2 billion dollars from fans visiting the country. Part of the money is likely to come in the form of crypto payments. Do you think self-regulation is an appropriate mechanism to fight financial fraud associated with ICOs? Tell us in the comments section below. Images courtesy of Shutterstock. Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we. The post Half of the ICO Money in Russia Went to Pyramids appeared first on Bitcoin News. View the full article

Despite the multitude of headlines declaring that bitcoin mining was becoming unprofitable over the last four months, the hashrate between both Bitcoin Core (BTC) and Bitcoin Cash (BCH) networks has exploded. At the moment both SHA-256 proof-of-work (POW) powered protocols have been maintaining more than 35 exahash per second, becoming one of the most powerful computational systems in the world. Also read: Play Music on Jukebox.cash – a Bitcoin Cash Infused Global Playlist BTC Mining Hashrate Unphazed by ‘Crypto Winter’ There has been a massive decline in fiat value for nearly all cryptocurrencies represented within the digital asset universe during the 2018 ‘Crypto Winter.’ During this time, researchers and pundits have declared that when BTC/USD prices dipped below $8K, mining was allegedly unprofitable in some regions. However, as far as blockchain data is concerned mining has grown exponentially even during the last four months when BTC prices found new lows. This year pools such as BTC.com, Antpool, Slush, and Viabtc have increased their hashrates considerably. A factor possibly due to new semiconductors and innovations in mining technology. Today the BTC global hashrate is 30 exahash per second. Over the last four months even when the price declined hashrate increased. Over the last seven days, BTC miners have held a fairly consistent 30 exahash per second. From December 2017 up until April 2018, the BTC chain’s hashrate has increased significantly. According to estimates, Chinese mining pools make up most of the BTC hashrate (80%) as eight of the top ten pools are based in China. Chinese mining pools make up more than 80 percent of the BTC global hashrate. The top five pools command close to 75 percent of the global BTC hashrate with BTC.com taking the cream of the crop. BTC.com now captures 28.9 percent of the BTC hashrate today, with Antpool’s 15.2 percent following behind. There are a total of seventeen known mining pools pointing their resources at the BTC chain and one unknown operation controls 10 percent of the network. Bitcoin Cash Hashrate Explodes The Bitcoin Cash network has also increased its hashrate significantly as well, as BCH miners are now processing between 3.6-5 exahash per second. Just a few months ago the BCH hashrate was between 0.5-1 exahash per second. At the time of writing due to the 60 percent bitcoin cash price increase, it is 1.7 percent more profitable to mine BCH than to mine on the BTC chain. Presently the Bitcoin Cash Difficulty Adjustment Algorithm (DAA) is operating at 14.8 percent of BTC’s difficulty. March and the month of April were the biggest hashrate spikes for BCH since the DAA was fixed last November. A side-by-side chart of BTC and BCH hashrates. BCH is represented in purple while the orange trendline is BTC. BCH has roughly thirteen known mining pools and 2-3 unknown mining operations pointing their resources at the chain. The biggest BCH mining pools over the last seven days include BTC.top, Viabtc, BTC.com, Antpool, and Bitcoin.com. Over the last week, the 2-3 unknown mining pools have captured 31 percent of the BCH network hashrate. Roughly 60 percent of the BCH global hashrate stems from China, as bitcoin cash has a more diversified spectrum of countries within its hashrate distribution. Bitcoin Cash mining pool hashrate distribution over the last seven days and 24-hours. The Entire Cryptocurrency Ecosystem Has Seen Hashrates Spike Overall there is a lot of computational power directed at both of these two networks, and they eclipse the entire landscape of 1500+ other digital asset hashrates. Although the processing power for those cryptocurrencies has increased as well over the last four months. Since January 2018 until now, the Ethereum network’s hashrate has grown immensely during the ‘Crypto Winter.’ Nearly every PoW cryptocurrency’s hashrate has spiked over the past four months. The same thing for the Litecoin network, as its hashrate has exploded during its 4-month price downswing. This trend has taken place across nearly every single cryptocurrency that uses a POW-type of consensus algorithm. Most all of the cryptocurrency hashrates worldwide have spiked considerably this past January through April 23, 2018. It’s safe to say all these theories of miners shutting down machines soon, and ‘losing their shirts’ is pretty far fetched. What do you think about the hashrate explosion between BTC and BCH and all the other currencies over the last four months? Let us know your thoughts about this subject in the comments below. Images via Shutterstock, Fork.lol, BTC.com, Blockchain.info, Coin Dance, and ETHscan.io. Need to calculate your bitcoin holdings? Check our tools section. The post Bitcoin Miners Unaffected by Price Decline — Hashrates Spiked Exponentially appeared first on Bitcoin News. View the full article

The web’s favorite crowdsourced encyclopedia has just edited its own behavioral guidelines. Wikipedia’s “Conflict of interest” (COI) page outlining etiquette for its 140,000 active editors now includes a reference to cryptocurrency. If you’re editing pages about crypto, the mere act of owning cryptocurrency may preclude you from doing so. Also read: Telegram Urges Paper Airplane Protest, Pussy Riot Activist Arrested Wikipedia Is Conflicted on Cryptocurrency According to Wikipedia, any external relationship its contributors hold – including a relationship with cryptocurrency – could present a conflict of interest. Its COI page states: Any external relationship—personal, religious, political, academic, legal, or financial (including holding a cryptocurrency)—can trigger a COI. How close the relationship needs to be before it becomes a concern on Wikipedia is governed by common sense. For example, an article about a band should not be written by the band’s manager, and a biography should not be an autobiography or written by the subject’s spouse. On the one hand, these guidelines make a lot of sense, but on the other, they create a paradox as the people most knowledgeable about a particular Wikipedia page are those with a strong personal interest in its subject matter. It’s hard to see how owning bitcoin, for example, should bar an editor from being able to update the Bitcoin page. With smaller, more controversial cryptos however (think IOTA or Verge), there’s greater potential for a COI to emerge. It’s easy to envisage a scenario, for instance, in which a passionate editor may decide to censor or exclude negative news about their favorite cryptocurrency. Partisanship Is a Persistent Threat on Wikipedia Certain Wikipedia pages attract an abnormally high number of edits, often because the subject is controversial or prone to attracting mischief-makers. In extreme cases, this can lead to a page becoming fully or partially locked to prevent anonymous editors from distorting the truth or inserting their own agenda. Wikipedia is notorious for its edit wars in which opposing camps attempt to control the narrative. One such page to have fallen prey to this is Bitcoin Cash. Its talk page notes that “There have been attempts to recruit editors of specific viewpoints to this article” to address this. Anyone can create a Wikipedia account and become an editor. To date over 33 million ‘Wikipedians’ have done so, of whom almost 140,000 are active. This army of volunteers performs an essential job, updating, proofing, and fact-checking millions of entries. Given the complexity of verifying the legitimacy of Wikipedia’s 5.6 million English articles, verifying that all its editors don’t have a conflict of interest is impractical. As the Bitcoin Cash page demonstrates, even when an editor doesn’t own a particular cryptocurrency, it doesn’t always prevent them from being tempted to tamper. Do you think owning cryptocurrency should bar a Wikipedian from editing a cryptocurrency page? Let us know in the comments section below. Images courtesy of Shutterstock and Wikipedia. Need to calculate your bitcoin holdings? Check our tools section. The post If You’re a Wikipedia Contributor, Owning Cryptocurrency May Be a Conflict of Interest appeared first on Bitcoin News. View the full article

As India works on the bill to regulate cryptocurrencies, each government department has its own opinion on whether to ban the use of crypto, including bitcoin. The Finance Ministry, the Reserve Bank of India (RBI), the Income Tax Department, and the Special Investigation Team have voiced their opinions on the upcoming bill. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales No Consensus Among Regulators India is preparing a bill on the regulation of cryptocurrency. “The bill has been drafted and consultation has been started with the concerned agency,” the Navbharat Times reported last week. The news outlet quoted sources explaining that the regulators are divided on whether to ban the use of cryptocurrencies such as bitcoin. “The finance ministry is in favor of regulating [cryptocurrency],” sources said. The Income Tax Department, on the contrary, is not in favor of regulation, the news outlet conveyed, and quoted sources explaining: The regulation of virtual currency is almost impossible and it promotes the use of black money. The RBI “is also not in favor of banning virtual currencies,” but sources pointed out that “the current form of the bill proposes to ban virtual currency businesses.” However, there may be exemptions for “issuing crypto tokens in exchange for assets.” Meanwhile, the Indian Special Investigation Team (SIT) “wants to ban the use of bitcoins” after discovering at least four cases where the digital currency was used to pay for drugs, the Sunday Guardian reported. The SIT comprises of officials from the Narcotics Control Bureau (NCB), the Enforcement Directorate (ED), the Central Bureau of Investigation (CBI) and the Income Tax Department. The SIT has previously asked the ED, NCB and the Income Tax Department “to take adequate measures to prevent the use of cryptocurrencies,” the publication noted, adding that the Team “has called for a second round of meetings to be held in Delhi next month, where the officials from all the aforementioned agencies will review the use of cryptocurrencies.” Experts Say Crypto Ban Not Very Feasible The debate is also taking place in the private sector. Sarvesh Tyagi, a Delhi-based cyber law expert, told the Sunday Guardian that “it is doubtful that the SIT will succeed in banning the use of cryptocurrencies. Ban is not a solution. We need a regulatory authority.” She elaborated: A blanket ban on the use of cryptocurrencies is not a very feasible solution as drug smuggling is a big problem, and in most cases, these transactions have nothing to do with use of cryptocurrencies. Crypto Businesses Fight Back The RBI announced earlier this month for banks and payment gateways under its control to stop providing services to businesses dealing in cryptocurrencies. “Banks have already sent notices to exchanges,” Sathvik Vishwanath, CEO of a leading Indian exchange Unocoin, told news.Bitcoin.com. The RBI allows banks “about 3 months of time to end the relationships” with crypto businesses, he noted, adding that crypto companies “will be attempting to challenge the [RBI] order” in the Supreme Court as a consortium. One company, Kali Digital Eco-Systems, has already appealed to the High Court in Delhi against the recent RBI crackdown. The company is behind the upcoming crypto exchange called Coinrecoil. On Sunday, the company announced that Delhi High Court has accepted its petition against the Indian regulators, adding that: Hon’ble High Court of Delhi has issued a notice to the Reserve Bank of India, the Union of India through Secretary, Ministry of Finance and GST Council. The next hearing in this case is on May 24, 2018. What do you think of the Indian regulators’ divided opinions on how to regulate cryptocurrencies? Let us know in the comments section below. Images courtesy of Shutterstock and the Indian government. Need to calculate your bitcoin holdings? Check our tools section. The post India Divided on Whether to Ban Crypto Use appeared first on Bitcoin News. View the full article

The Russian government has officially provided a response to the bill that seeks to outline the legal framework for cryptocurrencies. Many flaws and inadequacies were pointed out including unjustified restrictions on Russian residents and foreign investors. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Response to Crypto Bill The Russian government published its official response on Saturday to the draft federal law no. 419059-7 “On Digital Financial Assets” which aims to regulate cryptocurrencies, crypto mining, as well as initial coin offerings (ICOs). The House of Government, Russia. In its response, the government outlined numerous concerns and suggested some amendments to the bill. The first change suggests relates to Article 2 of the bill which defines digital financial assets including cryptocurrencies. Citing the definition of a digital financial asset as “a property in electronic form created using cryptographic means,” the government says this definition does not distinguish crypto-assets from “other objects created using means of cryptographic protection of information, such as certificates of enhanced qualified electronic signature, session keys generated in the process of establishing connections during the implementation of information exchange protocols in information and telecommunications networks.” In addition, the response states: The draft law does not contain the regulation of legal relations arising in connection with the circulation of cryptocurrencies, which may entail difficulties in law enforcement practice. Furthermore, the government finds “it necessary to regulate accounting issues” of crypto-assets as well as “introduce corresponding changes in the legislation of the Russian Federation on taxes and fees” in order to tax crypto transactions. No Mechanism to Identify Miners The definition of mining also needs additional work. The document suggests expanding the list of criteria to qualify as a crypto miner “since the energy consumption indicator does not provide an unambiguous basis for such a conclusion.” Some Russian ministries previously said that they were confident miners could be tracked and identified using electricity consumption. However, the government contradicted this belief in its response to the bill, noting: The government believes that activities aimed at creating a cryptocurrency may not be directly related to the formation of a transaction register, but rather to provide energy, technical capacities, including areas where the equipment necessary for mining is located, and therefore this activity cannot be attributed to mining. In view of the foregoing, the government considers it necessary to clarify the definition of the proposed concept of ‘mining’. Unjustified Restrictions For both cryptocurrencies and ICOs, the government commented, “from the provisions of the bill it is impossible to establish how their primary emission is regulated,” elaborating: The provisions of the draft law, as well as an explanatory note to it, do not contain a justification for introducing a number of restrictions imposed on residents of the Russian Federation. Citing Article 3 of the draft law as an example, the government interpreted, “residents of the Russian Federation cannot invest in digital financial assets in foreign jurisdictions.” However, “such a restriction is not justified.” Russian residents will not be the only group restricted by this bill; foreigners will also face unnecessary restrictions. The document points out that the bill says a crypto wallet is opened by an exchange “only after passing the procedures for identifying its owner in accordance with the federal law on countering the legalization (laundering) of criminally obtained incomes and the financing of terrorism.” However this will “significantly” hamper the participation of foreign investors as well as local residents, the government declared, adding: The government proposes to envisage in the bill the possibility for the operator of the exchange of digital financial assets to simplify identification by remote means. The rights of foreign investors also need to be adjusted in the bill since “the government considers it expedient to further regulate the issue related to the rights of foreign investors to transfer cryptocurrencies to the issuer’s wallet in exchange for Russian issuer tokens.” It says “such a measure will increase the investment attractiveness of Russian projects.” Trade Control and Identifying Crypto Owners One proposal the government explicitly supports is ensuring control over the exchange of cryptocurrencies for Russian rubles or other foreign currencies above a certain size. The document conveyed: It seems necessary to provide for mandatory control over the operations on the exchange of cryptocurrency for the currency of the Russian Federation or for foreign currency in an amount equal to or exceeding 600,000 rubles [~US$9,776] or the equivalent in foreign currency. Nonetheless, the government is still concerned about “the absence of a mechanism for establishing the owners of digital financial assets and persons responsible for the operation of digital financial asset systems.” It says the bill as written “will not allow countering the criminalization of this sphere and the use of the said assets for illegal purposes, as well as ensuring the protection of the corresponding property rights,” noting “the definitions of the concepts used in the draft law should be adjusted from a technical point of view.” Lastly, the government sees the need to correlate the provisions of other relevant bills: draft law no. 424632-7 “On amending part one, second and fourth of the Civil Code of the Russian Federation” and draft law no. 419090-7 “On alternative ways to attract investment (crowdfunding).” The response also calls for a “further study of the provisions of the draft law, taking into account the inexpediency of excessive regulation of civil and legal relations,” before concluding: The government of the Russian Federation supports the bill provided it is finalized for the second reading in accordance with the said observations. What do you think of the Russian government’s response and concerns? Let us know in the comments section below. Images courtesy of Shutterstock. Need to calculate your bitcoin holdings? Check our tools section. The post Russian Government Concerned Crypto Bill Inadequate in Many Ways 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. aXpire is excited to introduce its MatchBX product to the blockchain community. Coming in late Q2, MatchBX will allow blockchain-empowered freelance work, with individuals able to engage with each other or businesses to earn cryptocurrency (AXP) as a full time job. There has never been a better time to learn about cryptocurrency and look to engage in the aXpire community full time. MatchBX also offers a “preferred partnership” group of companies that have been hand picked and verified to serve as the best providers of a particular online service. For example, our latest addition, Kotoba, provides high quality website and white paper translation services, and users will be able to access this group at a special rate through MatchBX. In the background of this product we will run a different kind of spend analysis, demand prediction, which will drive additional preferred partners to our site. Think of it like surge demand on Uber, except without the associated price increases – we simply point partners towards early indicators of demand and the need for supply to fill any gaps. Not only with there not be traditional fees on the MatchBX platform, but also the minimal 1% fee charged per transaction will take the form of burned AXP, incentivizing early adoption. MatchBX is the latest addition to aXpire’s product suite, which includes Resolvr, a spend management tool. Both products are powered by aXpire’s native token, AXP. Advisors on the project include Roger Ver of Bitcoin.com, Shingo Lavine of Ethos and Gina Papush of QBE. To earn free AXP for signing up to the waiting list, go to www.matchbx.io. To find out more about aXpire, visit www.axpire.io Contact Email Address info@axpire.com Supporting Link www.matchbx.io 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: aXpire Introduces MatchBX to the Blockchain Community appeared first on Bitcoin News. View the full article