Day: January 20, 2019

Huobi Secures Its FSA License in Japan, Other Large Players Are Pending

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On Jan. 17, Singapore-based cryptocurrency exchange Huobi, one of the largest players on the market, relaunched as a fully licensed platform in Japan after merging with the BitTrade exchange. Branching out to Japan, where compliance is valued and many regulatory measures are imposed for crypto players by domestic regulators, is a complex process. Here’s how Huobi entered the market, and which firms might soon follow suit. Specifics of the Japanese market and the FSA’s role in it Japan is one of the world’s largest markets for cryptocurrencies. Bitcoin (BTC) and…

Hacked Customer Data From World Leading Cryptocurrency Exchanges For Sale On The Dark Web?

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Hacked KYC documents from top cryptocurrency exchanges are available on the Darknet. Image from Shutterstock. On a darknet market called “Dread,” a vendor going by “ExploitDOT” is attempting to sell user data from the know-your-customer (KYC) data top cryptocurrency exchanges ask for, required by most jurisdictions. According to data shared with CCN, the hacker has an ad that has been online since July 2018, in which he claims to have hacked documents used in KYC checks – including identity cards and drivers’ licenses – from users of top exchanges like…

Leaders of South Korean Crypto Exchange Komid Jailed for Faking Volume: Local Media

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Two leaders of the South Korean cryptocurrency exchange Komid were reportedly sentenced to serve jail time for faking exchange volumes, Korean crypto media outlet blockinpress reports on Jan. 18. The exchange’s CEO, surnamed Choi, received a three-year sentence, while another company leader with an unspecified role was purportedly sentenced to two years imprisonment for fraud, embezzlement and misconduct, the article notes. The charges reportedly outline a scheme where the exchange faked 5 million transactions in order to inflate the volume, which reportedly earned them $45 million. It is also suspected…

United Arab Emirates and Saudi Arabia Collaborate on New Cryptocurrency

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The United Arab Emirates (UAE) and Saudi Arabia have announced an agreement to cooperate on the creation of a cryptocurrency, UAE official news agency Emirate News Agency reports on Jan. 19. According to the report, the Executive Committee of the Saudi-Emirati Coordination Council has held a meeting in UAE capital Abu Dhabi, with 16 members in total from both countries, in order to discuss the join initiatives in the Strategy of Resolve. The Strategy of Resolve is comprised of seven initiatives, including civil aviation, financial awareness youth training, and the…

India’s Syndicate Bank to Expedite ATM Reconciliation Using Blockchain Technology

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India’s Syndicate Bank to Expedite ATM Reconciliation Using Blockchain Technology January 20, 2019 by Akshay Makadiya One of India’s oldest lenders–Syndicate Bank–will leverage its private blockchain network to simplify and shorten the ATM (Automated Teller Machine) reconciliation process. It is a move that could prove instrumental in bringing DLT into the mainstream in the country.  Also read: The Unique Consensus Mechanism of Decred–Is This True Decentralization? Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Turning ATMs Into Blocks According to local media outlet the Times of India, the…

Bitcoin Price Weekly Analysis: BTC Could Accelerate Gains Above $3,850

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Bitcoin price formed a solid support near the $3,560 level and moved higher against the US Dollar. There is a crucial bearish trend line in place with resistance near $3,850 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move higher towards the $3,850 and $4,000 levels in the near term. Bitcoin price is showing positive signs above the $3,600 support against the US Dollar. BTC/USD could accelerate gains once there is a break above $3,800 and $3,850. Bitcoin Price Analysis This…

Ethereum Price Weekly Analysis: ETH Facing Uphill Task Near $128

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ETH price faced a strong resistance near the $127 and $128 levels recently against the US Dollar. There is a major bearish trend line formed with resistance at $125 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair must break the $125, $127 and $128 resistance levels to move into a positive zone. Ethereum price is struggling to clear many hurdles versus the US Dollar and Bitcoin. ETH/USD may climb higher sharply once there is a close above $128 and $130. Ethereum Price Analysis This past week,…

Crypto Pundit: Ethereum (ETH) Is “Doomed To Be Centralized”

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“Ethereum (ETH) Is Arguably Centralized” On January 14th, Preston Byrne, an attorney at Bryne & Storm that is enamored with blockchain technology, took to Twitter to mention his thoughts on Ethereum (ETH), likely in the context of the then-impending Constantinople hard fork, which was recently delayed due to security qualms. Byrne joked that the popular blockchain is more centralized than “the core of a neutron store falling into the event horizon of a black hole,” accentuating his true thoughts on Ethereum. The British solicitor, who founded “the first open-source permissioned blockchain client,”…

Bitcoin Nears $3,750 as Top Cryptos See Moderate Gains

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Saturday, Jan. 19 — all the top 20 cryptocurrencies are seeing slight to moderate gains in the 24 hours to press time. Bitcoin’s (BTC) price is nearing $3,750 again, according to Coin360 data. Market visualization from  Coin360 At press time, Bitcoin is up about 2 percent on the day, trading at around $3,730. Looking at its weekly chart, the current price is higher than $3,663, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap Ripple (XRP) is up just over 1.6 percent on the day, trading…

Bitcoin Upstart BlockEx Shivers In Extended Crypto Winter

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While 2019, the purported year that the Bitcoin ecosystem would undergo a turnaround, is in full swing, crypto startups have continued to fall on bad times. Most recently, a London-based, multi-faceted company revealed that “staff reductions” had taken place, likely catalyzed by the tumult in crypto markets. Related Reading: Legendary Venture Capitalist: “We’re Close to a Crypto Nuclear Winter” Bitcoin Exchange BlockEx Purges Staff In “Reduction” As Bitcoin peaked at $20,000, BlockEx, a London-headquartered upstart with visions of grandeur, launched its token sale. BlockEx was marketed as a platform for issuing…