September 2018

Japan’s SBI Holdings | Creating “S coin” for Retail Purchases

September 25, 2018 boss

Japan’s SBI Holdings just announced that it is testing a cryptocurrency to be used for retail purchases. SBI published the news via a press release on its website this morning. SBI Holdings’ “S Coin” The news showcases SBI’s test for blockchain’s possibilities within the company. The “S coin” used will be a settlement coin that allows users to charge and settle payments of products on their smartphones. The translated release reads: “In this demonstration experiment, for SBI group employees, we will construct a mechanism that allows cashless settlement at ‘eating…

Australian Real Estate Major to Trial Blockchain-Powered Solar Energy Management Solution

September 25, 2018 boss

Australian firm Vicinity has announced it will trial a blockchain solution for its energy network. The company revealed this Thursday, September 25 in an official press release. Vicinity – with more than $42 billion in real estate assets under management – has partnered with Australian energy tech company Power Ledger. The newly announced trial is a part of Vicinity’s $75 million solar energy program that is about to start in Castle Plaza – the company’s mall located in Adelaide, South Australia. The new blockchain platform delivered by Power Ledger will…

No ETFs Until 2019? The SEC Has Been Taking Its Time

September 25, 2018 boss

On Sept. 20, the United States Securities and Exchange Commission (SEC) requested more comments on its decision on the listing and trading of a Bitcoin (BTC) exchange-traded fund (ETF) created by New York-based firms VanEck and SolidX. Consequently, the regulator’s decision was postponed yet again. Here’s why the VanEck/SolidX ETF has a greater chance than the nine ETF temporarily rejected by the SEC in August, and why a BTC ETF isn’t likely to appear until 2019. What’s so special about this ETF? Cointelegraph has previously covered ETFs and why they…

New French ICO Regulation on Its Way

September 25, 2018 boss

Today, the Assemblée Nationale (the French parliament’s lower house) is initiating a debate about a legal project introduced last June by the Minister of Economy and Finance, Bruno Le Maire, which contains some relevant changes for the French regulatory framework with regard to crypto assets and ICOs, together with many proposals aimed at sustaining the development of “liberated companies that are better funded, more innovative and fairer.” This innovation, stimulated by the Plan d’Action pour la Croissance et la Transformation des Entreprises (PACTE – Action Plan for Business Growth and…

IRS, ICE, and FBI spent millions stalking cryptocurrency traders

September 25, 2018 boss

Cryptocurrencies brought a level of freedom to those who use them. On the other hand, it brought a complicated equation to governments across the globe. As cryptocurrency users went about their business seemingly worry-free, governments were left to solve the equation of money-laundering, tax evasion, terrorist financing among other ills easily propagated using virtual currencies. For governments, this equation can only be solved by following the money trail. Whether fiat or virtual. Along the path, United States government agencies spent millions stalking cryptocurrency traders on the blockchain. Although more agencies…

Did the Mt. Gox Trustee Bitcoin Sell-Off Cause the Crypto Market to Crash?

September 25, 2018 boss

On September 25, the Mt. Gox trustee released a document entitled “Announcement on Measures to Secure Interests of Bankruptcy Creditors,” disclosing the sale of over $230 million worth of crypto including Bitcoin and Bitcoin Cash. While it still remains unsure whether the decline in the price of BTC and the valuation of the crypto market was triggered by the sell-off of Bitcoin and bitcoin Cash by the Mt. Gox trustee, the recent correction of the market coincided with the release of the document. Since March, within a period of six…

BTC/USD in Bear Flagpole Formation

September 25, 2018 boss

Bitcoin on Tuesday depreciated more than 3 percent against the US Dollar after reversing from a bear flag top yesterday. The BTC/USD walked the day carrying the prevailing bearish sentiment on its shoulders. The early Asian trading session opened at 6518-fiat and didn’t wait much before dropping below key support areas around 6500-fiat and 6400-fiat. By the end of the mid-Asian session and the beginning of early European trading hours, BTC/USD had established its intraday low towards 6370-fiat. At the time of the press, the pair is consolidating sideways in…

ICE’s Bakkt Reveals First Crypto Product as Physical Bitcoin Futures

September 25, 2018 boss

Intercontinental Exchange (ICE) confirmed its Bakkt cryptocurrency platform’s first offering will take the form of physical Bitcoin futures. ICE, which also operates the New York Stock Exchange (NYSE) released new details Tuesday, September 25. Bakkt, which ICE has said will be a “regulated ecosystem” for institutional investors aiming to get exposure to cryptocurrency, will offer futures against at least three fiat currencies: the U.S. dollar, British pound sterling and euro. “Our first contracts will be physically delivered Bitcoin futures contracts versus fiat currencies, including USD, GBP and EUR,” the company…

How Largest Banks and Conglomerates Back Exchanges

September 25, 2018 boss

The crypto market and blockchain sector of South Korea, the third-largest digital asset exchange market in the world behind the United States and Japan, have some of the most robust systems and infrastructure in place to protect investors and facilitate the growing demand for cryptocurrencies. The strong infrastructure of the country’s cryptocurrency market is primarily attributable to the involvement of major multi-billion dollar conglomerates and commercial banks that have assisted the growth of local crypto-related businesses over the past two years. In late 2017, as the valuation of the crypto…