Day: August 24, 2018

Thailand: Central Bank to Start a Digital Currency Project

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Thailand’s Central bank has kicked off a project with R3 and eight banks on the development of a digital currency (CBDC) for use in domestic wholesale funds transfers. The initiative was first revealed in a speech given by Central Bank governor Veerathai Santiprabhob at an industry event in Singapore in June. “Like other central banks, our goal is not to immediately bring CBDC into use, but rather to explore its potential and implications for back office operations,” says Santiprabhob. “These efforts should pave way for faster and cheaper transaction and…

How the Effort of Bakkt Could Lead to the Approval of the First Bitcoin ETF

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The SEC has disapproved 10 Bitcoin exchange-traded funds (ETFs) in the past month but analysts believe Bakkt can assist the launch of the first bitcoin ETF. Bakkt’s Efforts in Finding Trusted Price Formation Last month, the SEC officially rejected the Winklevoss Bitcoin ETF filed with the Bats BZX Exchange with a 92-paged document which explicitly stated that the commission was not satisfied with the dependence of the value of the ETF on public cryptocurrency exchanges. Specifically, the SEC said that strictly regulated exchanges like Gemini operating in the US market…

Russia’s Interior Ministry Proposes Criminalizing Unregistered Crypto Activity, Says Report

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Russia’s Ministry of Internal Affairs is reportedly considering establishing criminal liability for unregistered crypto operations, local media outlet Izvestia reported August 23. According to documents acquired by Izvestia, the interior ministry of Russia is developing an amendment of legislation that concerns legalizing only registered operations with open source cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and others. The ministry has suggested that in order to conduct legal transactions in crypto, persons or entities should acquire a “mandatory registration with state authorities conducting financial and tax regulation.” The initiative is reportedly…

U.S. Tax Policy Is a Stumbling Block for Bitcoin Adoption

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George Popescu has come down hard on the American Internal Revenue Service (IRS) and the U.S. tax code in general as stifling instead of enabling innovation through cryptocurrency adoption. In a Medium post published on August 22, 2018, the founder of crypto industry publication Blockchain Times and augmented reality startup Lampix stated that tax policy is effectively blocking crypto payments from taking off by placing inconvenient burdens on users. Confusing tax Requirements According to Popescu, the IRS places a mandatory tax requirement on every transaction carried out with crypto because…

Ethereum Devs Take a Look at Potential ETH Issuance Reduction

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Ethereum Devs Take a Look at Potential ETH Issuance Reduction August 24, 2018 by William Peaster Friday, August 24th, Ethereum Core’s developers hosted a series of guests in, among other things, discussing a possible ether issuance reduction within the Ethereum blockchain’s nigh Constantinople fork update. The project’s current issuance is 3 ETH per mined block. Discussion centered around whether that figure should stay put, or shift to 2 ETH (EIP-1234) or 1 ETH (EIP-858).  Also read: China Blocks Access to More Foreign Exchanges in Ongoing War on Crypto Subscribe to the Bitsonline…

Changin’ On The Telephone – CoinDesk

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Bitcoin.org Owner Announces the ‘Cobra Client’ BCH Node Software

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Just when you thought things couldn’t get weirder in the cryptocurrency space, one of the most untrusted characters within the Bitcoin community has announced the launch of a new full node Bitcoin Cash client. The notorious owner of the website Bitcoin.org, Cobra Bitcoin, has revealed what he calls the ‘Cobra Client,’ a Bitcoin Cash full node implementation that aims to be ready before the hard fork scheduled for November 15. Also Read: A Look at Two More Bitcoin Cash Token Projects in the Works The Controversial Cobra Bitcoin Discusses Consensus Failure…

World Bank Unpacks Launch of ‘BONDI’ Bond With Australia’s CBA

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It’s been close to 10 years since Bitcoin came into existence, and in that time, major financial institutions have slowly come to grips with blockchain technology and cryptocurrencies. Some have taken to the industry quicker than others, and some have outright turned their backs on the thought of using or investing in cryptocurrencies. However, the technology underpinning these decentralized digital currencies has been a major focal point, mainly in terms of how it can be used by traditional banking and financial institutions. A number of big name financial companies have…

Cardano Sellers Get Less Active, But Risks Remain High

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Cardano lost ground against the US dollar on Friday morning before making a moderate afternoon recovery, trading around $0.0935 and going up by 2% compared to the previous session. Over the last week, the sellers have been getting less active, and the investors lost less than before. Dmitriy Gurkovskiy, Chief Analyst at RoboForex, says the major outlook for Cardano is currently neutral. Technically, Cardano is correcting on H3 against the previous descending trend. This correction trend has achieved 23.60% Fibo and may continue to 38.20% (0.12073) and 50.00% (0.13227). The…

Crypto Markets See Solid Upswing as SEC Promises to Review Recently Rejected Bitcoin ETFs

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Friday, August 24: crypto markets have seen notable growth today, with all but one of the top 40 cryptocurrencies by market cap solidly in the green, according to data from Coin360. Market visualization from Coin360 Bitcoin (BTC) has seen solid growth, having surpassed the $6,600 price point, starting the day just over $6,400. The leading cryptocurrency is up around 3 percent over the past 24 hours, trading at $6,624 at press time. August 22 Bitcoin plunged from above $6,700 to under the $6,400 price point, following news of new anti-crypto…