Crypto News #3 - 2 August 2018

Bitcoin Cash Celebrates First Anniversary

One year ago to the day, Bitcoin Cash (BCH) came into existence after a hard fork from the Bitcoin blockchain. It has been an interesting 12 months since the fork gave birth to BCH, as proponents have continuously argued the merits between Bitcoin (BTC) and BCH.

India Turns to Discreet Trading Methods to Circumvent Cryptocurrency Ban

The Indian government’s crackdown on cryptocurrencies has not deterred the populace from employing new ways to purchase and trade digital assets. While exchanges have launched peer-to-peer models, a small fraction is resorting to “Dabba trading.”

Tech Like Bitcoin, FinTech Can Create Tremendous Job Opportunities for Maratha Youth: MahaBFIC Founder

Recently, Maharashtra, especially Mumbai, saw large-scale disturbances when angry Marathis took to road, agitating for reservation of jobs in government sectors and educating the community. At the time of writing, the agitation is still going on.

SIM Hijackers Steal Over $5 Million in Bitcoin in First Reported Crime of its Kind

Forget cryptojacking, SIM hijacking now seems set to become even more lucrative for criminals looking to cash in with bitcoin from the burgeoning space.

When Nobel Winner Asks What Problems Bitcoin Solves...

Paul Krugman is a big deal in the business world. He’s a Nobel Prize winner in Economics, Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.

Canadian Crypto Exchange Coinsquare Rolls Out XRP Markets Ahead of U.S. Expansion

Canadian cryptocurrency exchange and brokerage platform Coinsquare has listed XRP for trading, placing another arrow in its quiver as it prepares to challenge Coinbase — its dominant competitor to the south — to become the trading venue of choice for retail investors.

Japan’s SBI Group to Develop Crypto Derivatives Platform Following New Investment

Japanese financial services giant SBI Holdings will expand its crypto business portfolio by acquiring a 12 percent stake in Clear Markets, according to SBI’s financial results report published July 31. SBI is scheduled to acquire up to 20 percent in the future.

Report: Use of Bitcoin in Commerce Hit Low in May After Peaking at $411 Mln Last Year

The volume of Bitcoin (BTC) used in commerce has declined significantly over the course of the last year, Bloomberg reports Aug. 1.

CoinMarketCap Launches 'Professional' Paid API For Developers and Funds

Crypto data tracker CoinMarketCap.com (CMC) has launched a professional, paid API targeting developers and funds, according to an official announcement published August 1.

Blockchain Platform to Promote Japanese Culture Through Movies, TV Shows and Music

A blockchain-based company says it is seeking to cater to what it calls a growing demand for Japanese culture — creating animations, music, games and movies, as international interest in this industry grows.

Australian State Government Invests in Crypto Startup to Promote Regional Tourism

The state government of the Australian province of Queensland will issue a grant to a crypto startup as part of over $8.3 million of innovation funding, according to an official announcement published August 1.

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Coinbase Adds British Pound for UK Crypto Users

Crypto exchange Coinbase is now offering deposits and withdrawals denominated in the British pound (GBP), the firm announced Wednesday.

Zambia, Overstock's Medici Ink Deal on Blockchain Land Registry Pilot

Overstock's blockchain subsidiary is partnering with the Zambian government to build a blockchain land title registry, the company announced Wednesday.

Morgan Stanley Hires Credit Suisse Crypto Expert as Head of Digital Asset Markets

Multinational investment bank Morgan Stanley has hired a self-described crypto trading expert and 12-year veteran of Credit Suisse as its new head of digital asset markets, eFinancialCareers reported July 31.

US Treasury Dept. Fintech Innovation Report Touches on Crypto, Blockchain

A major new report from the U.S. Treasury Department published July 31 has called for a more agile and conducive regulatory approach to innovations in the fintech sector.

Blockchain Platform to Allow Users to Trade Gold for Virtual Currencies

A company is creating an ecosystem where tangible assets such as gold can be traded for virtual currencies in a digital environment.

Binance CEO: I Don't Know How To Trade

"I'm definitely more of a hodler. I don't know how to trade. Every time I do day trading, disaster happens," Changpeng Zhao, CEO of Binance, a major cryptocurrency exchange, said (3:07) in an interview with Bitcoin Magazine NL (published on 6th of July). Also, he recommends hodling, as "that's probably the best strategy for most people."

S Korea’s Bithumb Runs into Banking Trouble

Bithumb, one of South Korea’s largest cryptocurrency exchanges, has “temporarily” stopped accepting applications for new authenticated accounts in its home country, as it failed to agree with its bank.

Nobel Laureate Oliver Hart to Advise Blockchain Startup

Blockchain economics and governance design startup Prysm Group has added Nobel Prize laureate Oliver Hart and former Microsoft chief economist Preston McAfee to its senior advisory board.

Telegram Tech Promised In ICO Vulnerable to Attack, Researchers Say

With $1.7 billion in the bank following its initial coin offering (ICO), Telegram has released its first crypto-friendly feature – but security researchers are skeptical.

UK Member of Parliament Resigns as Blockchain Startup Advisor

A UK Member of Parliament (MP) has resigned from the advisory board of a cryptocurrency project after it was revealed that he was secretly getting paid for his services, the Financial Times reported Wednesday.

Northern Trust Is Helping Hedge Funds Invest in Cryptocurrencies

U.S.-based custody bank Northern Trust is helping traditional "mainstream" hedge funds expand into cryptocurrencies, Forbes reported Tuesday.

Brazilian Cryptocurrency Exchange Wins Injunction Against Bank Who Closed Its Account

Brazilian cryptocurrency exchange Walltime has recently won a court battle against local bank Caixa Econômica Federal, forcing it to unfreeze its account holding more than $200,000 worth of funds.

SEC-Approved Bitcoin ETF Possible in 18 months: Crescent Crypto CEO

The US Securities and Exchange Commission (SEC) could approve a Bitcoin ETF in the next 18 months, said Ali Hassan, the CEO, and one of the three co-founders of asset manager Crescent Crypto.

Bithumb Stops Issuing New Virtual Accounts to Users Because of Banking Freeze

South Korea’s crackdown on anonymous crypto trading has ended up as a headache for Bithumb, one of country’s largest cryptocurrency exchanges. The exchange has not been able to renew its banking contract with a bank, post which it doesn’t have a banking partner to offer virtual accounts to its customers. As a result company is no longer issuing new virtual accounts to its customers from today, though existing virtual account holders remain unaffected from the development.

Democratic Party Hopeful To Accept Bitcoin for US Presidency 2020

Andrew Yang, a second generation Chinese-American who will be running for US Presidency 2020 on the Democratic Party has announced, that he will accept bitcoin for funding.

BTC/BCH Payment Service Bitpay See Increased Usage Processing $1.2 billion USD

Bitpay’s chief operating officer, Sonny Singh, recently attested to the efficacy of bitcoin as a means of payment, stating that “bitcoin is being used all around the world for things other than speculation and trading.” The COO also reported that Bitpay processed $1.2 billion USD worth of bitcoin payment in 2018.

SEC releases draft rules on initial coin offerings

The Securities and Exchange Commission (SEC) released on Thursday its proposed rules governing the registration of initial coin offerings (ICOs).

China: Prominent Bank Issues $300,000 Loan Using Blockchain Technology

On July 31, 2018, the Agricultural Bank of China (ABC) revealed it had successfully completed a $300,000 loan using a private blockchain

Buying Crypto Is Soon To Be Old News, Earning Crypto Is The Future

Cryptocurrency adoption means that eventually, companies will start to offer salary and wage payments in cryptocurrency. Indeed, this is likely to happen within tech companies and blockchain firms first of all, but the premise is pretty clear. By receiving your wage in cryptocurrency, you have more control of what happens to it.

Thomson Reuters to Platform Crypto Real-Time Data

Crypto penetration within the financial services industry appears to be gathering pace. After Bloomberg’s integration of data sourced from crypto project research house Piccolo Research in March earlier this year, it is now the turn of Thomson Reuters (TR) – the second largest player in the field of market data – to announce its own platforming of crypto-related real-time data.

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