Day: October 2, 2018

Charles Schwab Exec Joins Coinbase Board

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Chris Dodds, who serves on the board of directors of the Charles Schwab Corporation, has joined cryptocurrency exchange Coinbase‘s board of directors, according to an announcement published October 2. The Charles Schwab Corporation is a brokerage, banking and financial advisory services firm based in San Francisco. Per the firm’s annual report, the company had $3.36 trillion in client assets, 10.8 million active brokerage accounts, and 1.2 million banking accounts, as of December 2017. In addition to the Coinbase board, Dodds will reportedly contribute to the exchange’s expansion in terms of…

Binance Labs Invests ‘Millions’ in Decentralized Digital Content Monetization Startup

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Binance Labs has reportedly invested millions of dollars in decentralized digital content ecosystem Contentos, according to a press release published October 1. Founded by the largest cryptocurrency exchange Binance, Binance Labs is an initiative that seeks to support early-stage blockchain and digital currency projects and entrepreneurs by making direct investments, as well as mentoring and providing technical advice to projects. Per the press release, Binance Labs made a “multi-million” dollar contribution to decentralized digital content ecosystem Contentos, but the exact amount of secured investment was not disclosed. Within the investment…

Regulations Rock Markets but Bitcoin Has to Play Ball

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The Bank for International Settlements (BIS) recently released their report about the effect of regulation on the cryptocurrency market capitalization. This report reveals that in spite of their borderless nature, regulatory activities and the media cycles from which they spawn have a massive impact on cryptocurrency markets, both in the positive and the negative. Grounds for Regulation Since cryptocurrencies have risen from the underground to mainstream attention, there has been an enormous potential for wealth creation and the maintenance of value. However, there has been an almost equal rise in…

Blockchain Market Could Hit $7 Bln, Will Give Boost to Amazon, Microsoft

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The Bank of America (BoA) has estimated that blockchain could be a $7 billion market and provide a major boost to corporate giants such as Microsoft and Amazon, CNBC reports Oct. 2. While BoA’s analysts refrained from putting “a time stamp” on the industry becoming a major, multi-billion dollar addressable market, they reportedly based their estimates on a ballpark figure that two percent of corporate servers would be used to run blockchain at a cost of $5,500 annually. BoA research analyst Kash Rangan told CNBC that the technology is well-suited…

1Broker Seized, Will More Crypto Exchanges be Targeted by US Gov’t?

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1Broker, a Marshall Islands-based securities dealer and bitcoin trading platform, was recently taken down by the US authorities. The FBI seized the domain of 1Broker, shutting down the platform for allegedly violating money laundering regulations and distributing securities as an unregistered dealer. The official announcement of the US Securities and Exchange Commission (SEC) read: “The SEC alleges that a Special Agent with the Federal Bureau of Investigation, acting in an undercover capacity, successfully purchased several security-based swaps on 1Broker’s platform from the U.S. despite not meeting the discretionary investment thresholds…

Crypto Markets Remain Shaky, NEM Continues Rising for the Second Day

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Tuesday, October 2: crypto markets are seeing mixed signals, with up and down fluctuations for the last few hours and most of the top 20 cryptocurrencies by market cap seeing losses, according to CoinMarketCap. However, in terms of the 100 top cryptocurrencies, around half of the markets are in the green today. Market visualization from Coin360 After seeing a slight growth on September 30,  Bitcoin (BTC) continues seeing losses. The major cryptocurrency is up around .015 percent over the past 24 hours, trading at $6,564 at press time. While Bitcoin…

Puerto Rico’s Noble Bank Reportedly Loses Clients Tether, Bitfinex, Seeks Buyer

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Puerto Rico’s Noble Bank International, which is known for reportedly opening accounts for USD-backed token Tether and crypto exchange Bitfinex, is allegedly searching for a buyer, Bloomberg reports Thursday, October 2. Citing an unnamed person familiar with the case, Bloomberg reports that Noble Bank has lost Tether and Bitfinex as clients, among others, and is currently on the search for a buyer. The bank, which sources tell Bloomberg is no longer profitable, might sell for a price from $5 to $10 million, which is mostly formed by the value of…

Brave CEO Tells Senate that U.S. Needs GDPR-Style Data Privacy Rules

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The chief executive of cryptocurrency-funded web browser Brave has penned a letter to the U.S. Senate calling for legislators to adopt data privacy regulations comparable to those recently implemented in Europe. Brave CEO Calls for a U.S. GDPR Writing in the letter dated Sept. 28 and addressed to the U.S. Senate Committee on Commerce, Science, and Transportation, Brave CEO Brendan Eich said that Congress should adopt rules similar to the European Union’s General Data Protection Regulation (GDPR), a regulatory framework that governs how businesses must handle the data of EU…

South Korea’s Democratic Party Lawmaker Urges Authorities to ‘Open Up the Road’ to ICOs

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A member of South Korea’s National Assembly has called on the state to “open up the road” to Initial Coin Offerings (ICO) by easing regulations, South Korean financial outlet Economy reports October 2. According to the article, Min Byung-doo, a Democratic Party lawmaker, will introduce a project of for ICO legislation at the next round of the National Assembly. He claimed that the purpose of the new legislation is to allow ICOs while enforcing strict regulation for the negative parts of the industry, noting: “We are looking at ways to…

Her Majesty’s Land Registry Is Looking at Blockchain for Modernization

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Her Majesty’s Land Registry Is Looking at Blockchain for Modernization October 2, 2018 by Akshay Makadiya The government of the United Kingdom is exploring more use cases of blockchain technology. That’s upon this week’s announcement that Her Majesty’s Land Registry wants to embrace Corda for evolving the U.K.’s land registration system.  Also see: Is Noble Bank on the Brink of Insolvency and Will Tether Collapse With It? Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Her Majesty’s Bureaucrats Look to Corda On Monday, October 1st, HM Land…