Day: November 27, 2018

crypto projects to seek central bank approval; to avoid charges

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A new directive by Malaysia’s Finance Minister requires all crypto projects to seek central bank approval before going live. The Star Online quotes the minister who was speaking in Parliament. In an answer to an MP, Lim Guan Eng, the Finance Minister said that Bank Negara Malaysia is the authority. “We need to be cautious as Bank Negara is the authority that handles and manages all forms of new currency technology.” Crypto projects to seek central bank approval to avoid charges The minister insisted that people should not try to…

Paraguay to Use Surplus Electricity for Crypto Mining

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Paraguay to Use Surplus Electricity for Crypto Mining November 27, 2018 by Paul de Havilland Paraguay is looking to use its surplus electricity to mine cryptocurrencies. Blessed by the bountiful supply of electricity from the Itaipu hydroelectric power dam, its aim is to become a major mining hub. Also read: Ohio State Treasurer OKs Bitcoin Tax Payments Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Paraguay With an Eye on the Mining Industry The government of Paraguay recently signed an agreement with the Blockchain Technology Foundation “Commons…

cease and desist order; UBPC is found to be operating fraudulently

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A crypto company posing as a Liechtenstein-based Union Bank AG initiative is in the spotlight in North Dakota for fraud. According to the North Dakota Securities Department, it issued a cease and desist order for Union Bank Payment Coin. Cease and desist order for fraud In particular, the order targets the entity’s officers, directors, agents, and employees. The Securities department found Union Bank Payment Coin (UBPC) culpable for fraud. The entity promoted unregistered securities that were potentially fraudulent. According to Karen Tyler, North Dakota Securities Commissioner, the action is a…

Crypto Exec: Bitcoin Will Remain Under $5,000 For At Least Six Months

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Although the crypto industry has its fair share of over-ardent speculators, many of which are blinded by visions of grandeur, high ceilings, and chandeliers, others in this nascent line of business have erred on the side of caution. One such skeptical optimist, known for his intriguing, yet controversial statements, has even claimed that Bitcoin won’t see a breakout until 2019 at the earliest. Civic CEO Not Sold On Short-Term Bitcoin Bullishness This soothsayer in question is Vinny Lingham, who CNBC recently dubbed the “Oracle of Bitcoin” during a recent installment of Fast…

blockchain shipping database; brings together all parties in the supply chain

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IBM (NYSE:IBM) and Maersk came together in August to develop TradeLens, a blockchain shipping solution. At the time of launching, over 90 organizations were part of the community. Modern Terminals is the newest member of that blockchain shipping database. TradeLens leverages blockchain to streamline global trade while securing cargo during transit. Further, the solution facilitates sharing of information among various players in the shipping industry. However, the most important aspect of TradeLens is that it upholds transparency in the industry. The blockchain shipping database to facilitate transparent operations Particularly, all parties…

Coincheck adds more offerings; the exchange adds FCT and XRP

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Japanese cryptocurrency exchange Coincheck has added more offerings to its platform as it shakes off the effects of this year’s hack. According to a statement by Monex Group, the exchange now supports Ripple (XRP) and Factom (FCT). Monex Group is the parent company for Coincheck Inc which operates the Coincheck cryptocurrency exchange. The move comes after another similar step in late October when Coincheck reintroduced services for selected cryptocurrencies. Rising from the ashes In October, Coincheck let customers open accounts and make deposits for Bitcoin (BTC), Ethereum Classic (ETC), Litecoin (LTC)…

Bitcoin Miner’s Future Looks Bleak as Hash Rate Drops by 24% in Three Months

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According to a report published by Bloomberg, November 26, 2018, the Bitcoin Network’s hash rate has dropped by a whopping 24 percent from its ATH in late August 2018. This, in turn, could force many small and medium scale bitcoin miners to abandon their mining operations due to the inability to breakeven costs. Falling Hash Rate Forces the Miners to Quit From the graph below, it can be inferred that the Bitcoin Network hash rate (a metric used to measure the computing power consumed while mining the cryptocurrency,) reached its…

Nasdaq to Launch Bitcoin Futures Market, Not Worried by Crypto Winter

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Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. The world’s second largest stock exchange Nasdaq is planning to introduce a Bitcoin futures market within the first quarter of 2019. Sources told Bloomberg that Nasdaq has been cooperating with the Commodities and Futures Trading Commission (CFTC) to receive regulatory approval to operate as a compliant cryptocurrency futures market operator. The report read: “Nasdaq has been working to satisfy the concerns of the U.S.’s main swaps…

BitPay’s Copay Wallet Compromised by Malicious Code, Firm Issues Advice for Users

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Crypto payment processor BitPay issued advice on its official blog yesterday, Nov. 26, for users of its open-source Bitcoin (BTC) wallet Copay, which has reportedly been compromised by malicious code. The vulnerability pertains to a third-party Node.js module, also known as an “event stream,” which is used in versions 5.0.2 through 5.1.0 of BitPay’s Copay and BitPay apps. According to a GitHub issue report, this module was modified to load malware that is capable of stealing users’ private keys. BitPay’s post states that the BitPay app was not vulnerable to…

Nasdaq’s Bitcoin Futures Could Launch in Q1 2019, Says Bloomberg

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Major U.S. stock exchange Nasdaq still intends to launch Bitcoin futures and could do so as soon as Q1 2019, Bloomberg reported Nov. 27. Quoting “two people familiar with the matter,” the publication said momentum was building towards a potential launch early next year. The move comes despite the downturn in Bitcoin (BTC) prices to 13-month lows, marking the tail end of a testing year for existing Bitcoin futures products. According to the two unnamed sources, Nasdaq “has been working to satisfy the concerns of the U.S.’s main swaps regulator,…