Day: July 28, 2018

Japan Self-Regulatory Crypto Exchange Association Considers Trading Cap for Some Clients

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The Japan Virtual Currency Exchange Association (JVCEA) will obligate its member exchanges to place limits on the trading activity of some clients, Cointelegraph Japan reports today, July 28. The self-regulatory body has reportedly established a policy of to require its member crypto exchanges to place maximum limits on the volumes traded by the exchanges’ customers. The move reportedly aims to prevent investors with “small assets” from suffering heavy losses and facing problems with basic daily expenses. The report does not specifically define “small assets,” nor does it specify the exact…

How Blockchain Could Fix Facebook’s Fake News Problem

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After the 2016 United States presidential election, Facebook started to receive flak for its possible role in Donald Trump’s victory. The usage of Facebook profiles for data analysis by Cambridge Analytica, the immense number of fake news articles on the site and the impact of confirmation bubbles meant that Facebook’s platform was being used to drastically misinform users about the world around them. Though Facebook has recently cracked down with their fake news problem, they still face many roadblocks. Since Facebook operates as the largest community in the world, the…

New Gallup Poll Shows Only 2% of US Investors Own Bitcoin, But 26% Are ‘Intrigued’

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The results of a Wells Fargo/Gallup poll published July 27 finds that only two percent of U.S. investors own Bitcoin, but 26 percent are intrigued by it. The online survey was conducted May 7-14, 2018 amongst  U.S. investors with more than $10,000 in stocks, bonds or mutual funds. The results show that the overwhelming majority of investors who have already heard of Bitcoin will not be investing in the leading cryptocurrency any time soon, with 72 percent saying they “have no interest in ever buying Bitcoin.” According to the data…

Telegram Reveals Personal ID Verification Tool for Sharing Data with ‘Finance, ICOs’

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The crypto and blockchain industry’s go-to encrypted messenger app Telegram has released a personal identification authorization tool, according to an official statement published July 26. The tool, dubbed Telegram Passport, reportedly encrypts a user’s personal ID information and let’s users securely share their ID data with third parties, which the Telegram post elaborates on as “finance, ICOs, etc.” According to the post, users’ ID data will currently be stored on the Telegram cloud, but “In the future, all Telegram Passport data will move to a decentralized cloud.” The new tool…

Crypto Market Rebounds, Bithumb Drives Kimchi Premium Up 50%

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Bithumb, formerly the biggest crypto exchange in South Korea, has driven the Kimchi Premium up 30 percent on major tokens, inflating the price of cryptocurrencies. Bithumb, the Bad Actor On June 20, as CCN reported, Bithumb was hacked for $40 million. The Financial Services Commission (FSC) and Korea Financial Intelligence Unit (KFIU) were involved in the investigation of the Bithumb hack and eventually, the exchange reportedly recovered half of the stolen funds stored in digital assets. However, since then, for more than a month, Bithumb has disabled deposits and withdrawals,…

UK Remittance Service TransferGo Adds Crypto Trading in ‘World First’

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UK-based service TransferGo has reportedly become the world’s first remittance operator to offer crypto trading, Bloomberg reported July 27. TransferGo now lets customers buy and sell five major cryptocurrencies –– Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC). According to TransferGo CEO and founder Daumantas Dvilinskas, the crypto trading option was launched “in response to demand from our user base”: “With over 4,000 users signing up in the first few hours we can see there is a strong demand in the market for a simple and…

Company to Create Global Network of Health Centers That Accept Cryptocurrency

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A new blockchain-driven company has bold plans to establish a global network of health centers designed to help people lead active and longer lives. Although life expectancies around the world are soaring, BitVit argues that many of these extra years are dominated by sickness for too many years. Research cited in its white paper suggests German women can currently expect to live until they are 83, but only 72 of those years will be in good health. For men the average lifespan is 78 years, with nine of them blighted…

G20 Hears Out Multiple Crypto Reports in July, Waiting for FATF to Test Its Standards by October

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The G20, after it was called upon by France’s finance minister Bruno Le Maire to have a public debate about cryptocurrencies at the G20 Summit in Buenos Aires, made strides towards a global front for regulation of digital currencies. Those strides could however be only considered baby steps as, at the conclusion of a meeting of the finance ministers in March it was decided that July would be the deadline for “very specific recommendations.” The recommendations were not about what to regulate, but rather, what data is needed. Now, with…

Thai Bond Market Association to Launch Blockchain-Based Registrar Bond Service Platform

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The Thai Bond Market Association (TBMA) will deploy a blockchain-powered solution on its registrar service platform, local news agency Bangkok Post reports July 28. The new registrar service platform, which is scheduled to be introduced this year, intends to provide a faster bond certificate issuance and, in turn, boost the liquidity of the secondary market, according to TBMA president Tada Phutthitada. While market liquidity has been growing, the issuance of bond certificates still remains slow, which may cause serious limitations to the growth of corporate bonds in the secondary market.…

Canada’s DMG Blockchain Starts Installing 85 MW Substation for Crypto Mining Expansion

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Canada-based DMG Blockchain Solutions has launched the installation of an 85-megawatt substation for crypto mining expansion, according to an official statement July 26. The DMG crypto mining operation will be implemented on an industrial scale with direct support from the local government and electricity providers. DMG Blockchain Solutions is a multi-sector crypto and blockchain firm that manages and provides Bitcoin mining and hosting in addition to blockchain platform development. The flagship mining facility is set to become fully operational in September 2018 with 60 megawatts available for energizing mining rigs,…