Month: October 2018

Bittrex Launches Malta-Based ‘International’ Trading Platform, Minus US Customers

boss

Bittrex International is launching a digital trading platform that will feature a “streamlined” token approval process and focus on international customers, the company’s blog revealed Monday, Oct. 29. As per the release, new tokens will be approved and listed on the platform “within weeks instead of months.” The new platform will operate within the regulatory framework established by the E.U. and Maltese Government, using Malta’s Virtual Financial Assets Act (VFA) in particular. In 12 months the company is planning to apply to the Malta Financial Services Authority to become a…

Coinbase Exec Denies Plans for IPO ‘Any Time Soon,’ Reveals Plans to Add up to 300 Coins

boss

Major U.S. cryptocurrency exchange and wallet provider Coinbase will not perform an initial public offering (IPO) “any time soon,” the company’s President and COO Asiff Hirji told Bloomberg today, Oct. 31. Speaking to Bloomberg TV, Hirji, who himself was the first to hint about the potential for an IPO in 2017, said that while the company would go public “at some point,” it was “not even close to the top” of its list of priorities. He confirmed to reporters today: “There’s not going to be an IPO any time soon;…

Two Brazilian Banks Reopen Accounts of Local Crypto Exchange to Avoid Fines

boss

Two major Brazilian banks have reopened the banking accounts of one of the local crypto exchanges experiencing banking issues recently, local crypto outlet Portal do Bitcoin reports Wednesday, Oct. 31. The preliminary decision to reopen accounts in major banks Banco do Brasil and Santander Brasil for local crypto exchange Bitcoin Max was granted by the Federal District Court. The  judge ruled that the mentioned banks failed to notify the exchange of account closure, which was treated as “abusive conduct” violating consumer protection rules. The court then ordered to unlock the…

Crypto Exchanges Should Face ‘No Problems’ With Banks

boss

The chairman of South Korea’s Financial Services Commission (FSC) has affirmed that crypto exchanges should face no issues with banking provisions, local media platform Token Post reported Oct. 30. The FSC’s Choi Jong-Ku clarified that banking support would be provided as long as exchanges have adequate anti-money-laundering (AML) safeguards in place and apply robust know-your-customer (KYC) checks. In particular, Korean banks previously could offer “virtual” accounts to crypto exchanges to provide traders with more anonymity. In January, South Korea had introduced strict AML rules for exchange operators, designed to prevent…

Will Small Companies Beat Large Corporations if They Use Blockchain?

boss

An American startup is building a blockchain agnostic protocol in a bid to provide small businesses with affordable access to new technology, and drive the mass adoption of blockchain and cryptocurrencies. Opporty, with experienced founders from the U.S., has also set up a “trusted and verified services marketplace” on the Ethereum blockchain, with features such as smart contracts, decentralized escrow, and lead generation. The company believes its platform helps small and medium enterprises (SMEs) to compete with large corporations, without requiring large investments in technology and marketing. Widespread coverage By…

Goldman Sachs Reportedly Onboarding Clients for Future Crypto Products

boss

Goldman Sachs is allowing few of its clients to sign up for its future crypto products, according to reports. The New York investment bank plans to roll out its bitcoin non-deliverable future contracts (NDF), a derivative product pegged to futures. Ideally, the service should allow an investor/borrower to take a short-term position in Bitcoin even though the government may not allow exchanges. The investor/borrower uses the foreign currency, but any foreign exchange gain or loss should be paid in Bitcoin. The service could lead corporates seeking to hedge exposure to foreign…

Bank Of America Adds Private Key Storage Filing to Stockpile of Blockchain Patents

boss

  Bank of America (BoA) has gained a further cryptocurrency-related patent, a filing confirmed Oct. 30, continuing its efforts to “be prepared” for the industry’s future growth. The latest award, which adds to the bank’s mounting stack of cryptocurrency and blockchain patents, references storage methods for private keys. Specifically, the filing reads, current opportunities for ensuring private keys remain untampered with are insufficient. “[W]hile many […] devices may provide for acquiring evidence of a security breach (i.e., physical or non-physical tampering with the device and/or the data), such devices do…

DeBeers Blockchain Pilot Adds World’s Second Largest Diamond Manufacturer

boss

Alrosa, the world’s second largest diamond maker has announced that it is joining  Tracr, the blockchain-based end-to-end diamond tracing solution developed by South African diamond behemoth De Beers Group for the purpose of ensuring that conflict diamonds do not enter its supply chain. In a statement published on its website on October 29, the Russian company revealed that it is joining the project because it supports the goal of protecting consumers and ensuring the integrity of the authenticity of their diamonds. Tracr’s Use and Growing Influence In May, CCN reported…

Bitcoin Price Watch: BTC/USD’s Next Leg Lower Likely

boss

Key Points Bitcoin price is currently consolidating losses above the $6,240 support against the US Dollar. There is a major bearish flag forming with resistance at $6,310 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains at a risk of more losses below the $6,240 and $6,200 support levels. Bitcoin price is under pressure below $6,300 against the US Dollar. BTC/USD is likely preparing for the next downside break below $6,202. Bitcoin Price Analysis Yesterday, we saw a major downside move below the $6,350…

Cardano Price Analysis: ADA/USD Could Accelerate Below $0.070

boss

Key Highlights ADA price declined further and traded below the $0.0700 support area against the US Dollar (tethered). There was a break below a contracting triangle with support at $0.0725 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is under pressure and it could accelerate declines below $0.0700 in the near term. Cardano price remains in a downtrend against the US Dollar and Bitcoin. ADA/USD could continue to move down towards the $0.0650 level if sellers remain in action. Cardano Price Analysis In the…