Day: December 21, 2018

US Lawmakers Introduce Bill to Impose Sanctions on Iranian National Cryptocurrency

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United States lawmakers have introduced a bill to levy further sanctions on Iranian financial institutions and the development and use of the national digital currency. HR 7321 was introduced in the House of Representatives by Rep. Mike Gallagher on Dec. 17. In a bid to combat money laundering and terrorism-related activities, the “Blocking Iran Illicit Finance Act” calls for sanctions on the Iranian financial sector and on the development and use of the national cryptocurrency. The act specifically prohibits transactions, financing or other dealings related to an Iranian digital currency,…

Ethereum (ETH) Co-founder Joseph Lubin Calls A Crypto Market Bottom

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ConsenSys Remains Healthy, Ethereum Is Accelerating Just days after reports arose that ConsenSys, the distributed startup that focuses on bolstering the Ethereum (ETH) ecosystem, was poised to lay off 50% of its staffers, firm founder Joseph Lubin has explained that contrary to community sentiment, all is well in the company’s camps. In a flurry of tweets issued on Friday morning, Lubin, who once roomed with Mike Novogratz (CEO of Galaxy Digital), made it clear that his firm is far from dead in the water. I am calling the cryptobottom of 2018.…

US Telecoms Giant Comcast to Make Blockchain Software Available in 2019

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American global telecommunications conglomerate Comcast aims to make its blockchain initiative Blockgraph commercially available in 2019, according to a press release published Dec. 21. “Comcast is currently working with NBCUniversal to test Blockgraph’s capabilities with plans of incorporating it into its addressable offering in early 2019,” states the release. Comcast is a global media company founded in 2001, that provides cable television, Internet and telecoms services. Comcast is purportedly the second largest broadcasting company in the world in terms of revenue and largest TV company in the United States. The…

Lack of Widespread Crypto Knowledge Could be Stunting the Market’s Growth

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2018 has been a rough year for the crypto markets, with Bitcoin, the market’s largest digital asset by market cap, falling from highs of nearly $20,000 one year ago to recently established lows of just over $3,000. The tumultuous market conditions throughout 2018 have disheartened many investors and has led the industry as a whole to ponder what could help drive an influx of fresh capital into the markets. The results of a recently conducted survey from the Europe-based online trading platform, eToro, signals that the lack of knowledge about cryptocurrencies and…

Huobi-Backed BHEX Launches Blue Helix Token (BHT)

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James Ju CCN spoke to James Ju, the CEO of the new Blue Helix Exchange (BHEX) and former CEO of Huobi Global. Blue Helix is an exchange which is pushing toward a decentralized topology in a regulator-friendly manner. They raised $15 million from institutional investors including Huobi and OKEx by selling equity about six months ago, and last week they launched the beta of their exchange product, along with the BHT token. Currently in Beta, the Blue Helix exchange offers OTC sales (for CNY) of Bitcoin, as well as a…

Bitcoin Price Uptrend Exhausts ahead of Reclaiming $4,500

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Bitcoin price on Friday corrected 5% from its intraday high at $4,172, hinting that the ongoing uptrend is close to exhaustion. The Bitcoin-to-Dollar pair found a compelling resistance area near $4,000 that reversed the breakout attempts on four separate occasions today. To the downside, the area near $3,880 provided similarly strong support to keep the upside bias alive. As a result, the Bitcoin market today was mostly choppier as it bounced between the two strong parameters at each of its sides. BITCOIN/DOLLAR 1D CHART | SOURCE: TRADINGVIEW.COM, COINBASE The trend…

Brazilian Supermarket Chain Now Accepts Payment in Bitcoin

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Fintech A Rio de Janeiro supermarket chain, Oásis Supermercados, is now accepting payment in bitcoin core, bitcoin cash and litecoin. It joins a growing number of Brazilian businesses in construction, ecommerce, hospitality and transport, already taking payment in cryptocurrency. Also read: Pan-African Bitcoin Exchange Kubitx Goes Live, Launches OTC Wallet Shopping the Cryptocurrency Way Beginning Dec. 18, shoppers can pay for goods directly in BTC, BCH or LTC at Oásis Supermercados. Payments are processed through crypto payments processor Coinwise. Once a customer chooses the cryptocurrency they want to use to make…

Facebook Cryptocurrency | Is the Tech Giant Developing a Stablecoin?

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Facebook (NASDAQ:FB) is reportedly developing a cryptocurrency that will let users send money via its WhatsApp messaging app. The new cryptocurrency would launch first in India—a country with over 200 million Whatsapp users and the world’s leader in sending money home. Facebook Cryptocurrency According to Bloomberg, the company is creating a stablecoin, a digital currency that is pegged to a fiat currency—often the US dollar. These types of cryptocurrencies are supposed to be less volatile than regular cryptos. Though not nearly at a launch stage, sources say that Facebook is…

Chinese Fintech Incubation Zone Officially Begins Operations in Guangdong Province

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The Chinese fintech incubation zone located in the Guangdong province has officially started its operations, Chinese news outlet Chinese Software Developer Network (CSDN) reports Dec. 21. According to the article, the zone — which officially opened Dec. 20 — has a total area of 120 square kilometers and already hosts the headquarters of over 20 companies. The zone and its administration will reportedly offer the companies project financing, office space and policy guidelines, and will overall “promote the transformation and application of technological achievements.” CSDN notes that the Guangdong financial…

Russian Finance Ministry Considers EAEU Digital Currency ‘Inevitable’ Due to US Sanctions

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Russia’s Ministry of Finance (MinFin) believes that the creation of a Eurasian Economic Union (EAEU)-backed digital currency is inevitable due to the United States’ sanctions. Major Russian media agency Rambler reported MinFin’s comments on Friday, Dec. 21. MinFin reportedly sees an opportunity for launching a digital currency backed by countries in the EAEU by 2020 or 2021, as deputy finance minister Alexei Moiseev revealed. The Eurasian Union was established in 2014 and includes five member countries: Belarus, Kazakhstan, Russia, Armenia and Kyrgyzstan. The announced digital currency project will be most…