Day: February 14, 2019

Luxembourg Passes Blockchain Framework Bill Into Law

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Luxembourg lawmakers have passed bill 7363 into law, facilitating the use of blockchain technology in financial services, according to an official announcement published by the countryโ€™s parliament, the Chamber of Deputies, on Feb. 14. The new law aims provide financial market participants with more transparency and legal certainty in regard to the circulation of securities with blockchain technology. The bill is also geared to make the transfer of securities more efficient by reducing the number of intermediaries. According to local news outlet Luxembourg Time, the bill grants transactions done with…

Crypto Markets Trading Sideways With Slight Losses, April Gold Closes Slightly Down

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Thursday, Feb. 14 โ€” most major cryptocurrencies are trading sideways, with a few experiencing minor losses. The markets are seeing mixed signals as of press time, according to data from Coin360. Market visualization from Coin360 The leading digital currency Bitcoin (BTC) is slightly down 0.19 percent on the day, trading at around $3,620 at press time. Over the past week, BTC has gained 6.38 percent, while its monthly losses were over 2 percent. Bitcoin 7-da7 price chart. Source: CoinMarketCap Ethereum (ETH) โ€” which regained its position as the second largest…

Dutch Tech Firm Develops PoC of Autonomous Smart Electricity Grid Using IOTA

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Dutch technology company ElaadNL has developed a Proof of Concept (PoC) for a smart power grid for electric vehicles using internet of things (IoT)-focused IOTA Tangle technology, according to the companyโ€™s announcement on Feb. 14. Per the announcement, the PoC shows the ability of smart grids to not only consume power, but also generate it and autonomously redistribute it amongst community members. The initiative ย was based on IOTAโ€™s Tangle technology, which purportedly lets the charging devices autonomously decide whether there is need to help balance grid load. In addition, the…

Fairfax County Pension Funds Invested $21 Million in Blockchain Technology

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Fairfax county of the United States state of Virginia, has invested $21 million in Morgan Creek Blockchain Opportunities Fund, according to an official note published on Feb. 13. Jeff Weiler, Executive Director at Fairfax County Retirement Systems, clarified the terms of recent investments in Morgan Creek Digital that reportedly amounted to $40 million. The statementโ€™s aim was to qualm pensioner concern over the recent investment, as some were worried that their pensions could be lost due to volatility in cryptocurrency markets. In this context, Weiler explained that the county has…

Judge Delays Decision On Legal Representation for Quadriga Creditors

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A Canadian judge declined to name any law firms to represent as many as 115,000 users of QuadrigaCX, deferring that significant decision by a week. Nova Scotia Supreme Court Judge Michael Wood said during a hearing Thursday that he would not appoint any firms as representative counsel or make any other decisions regarding creditor representation immediately, though he plans to have a final decision within the week. Wood did, however, shoot down a proposal which would have delayed the process even further. As CoinDesk previously reported, three legal teams have…

Ripple Introduces XRP Ledger Version 1.2.0 With Upgrade Deadline of Feb. 27

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Ripple, the firm behind the current third top crypto XRP, has introduced a major network upgrade of its XRP Ledger version 1.2.0, according to an official announcement on Feb. 13. The XRP ledger is a decentralized cryptographic ledger that stores XRP and is powered by a network of peer-to-peer (P2P) servers.With the release of the Rippleโ€™s blockchain upgrade, servers will be able to automatically detect transaction censorship attempts and issue warnings of increasing severity for transactions, the announcement says. The XRP Ledger version 1.2.0 includes a number of network amendments,…

Messenger Giant Kakao Spent $57 Mln on New Tech, Including Blockchain, in Q4 2018

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South Korean internet giant and messaging app operator Kakao Corp has published its Q4 2018 report that covers blockchain and AI operating expenses, Korean news website ZDNet reports Thursday, Feb. 14. According to ZDNet, in Q4 2018 Kakaoโ€™s consolidated operating income was 4.3 billion Korean won ($3.8 million). At the same time, the companyโ€™s operating expenses related to new businesses, such as blockchain and AI, was 65 billion won ($57.5 million), which reportedly led to a net loss for the whole period. As cited by local media News1 Korea, executive…

The Lightning Pump, Bitcoin Adoption Inevitable as BTC Prices Inch Higher

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Bitcoin prices are technically bullish, must close above $3,800 Lightning Network picking up, Dominoโ€™s Pizza now accepts Bitcoin via LN Participation levels have been shrinking, volumes behind a bull confirming bar must exceed 35k From the look of things, Bitcoin adoption will be fast-tracked by the Lightning Network. Elizabeth Starkโ€™s project recently got a boost. At this rate, it appears as if itโ€™s a matter of when before BTC prices rally to $6,000. Fundamentals Itโ€™s the month of love, and it seems like merchants are in love with the Lightning…

Cryptocurrency Doesnโ€™t Yet Need to Be Legally Defined

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The Ministry of Justice of Russia does not see the need to legally define the concept of cryptocurrency at this point, state-owned news agency TASS reported on Feb. 13. Alexander Konovalov, the Minister of Justice of Russia, reportedly claimed that it is too early to formalize crypto-related legislation to date. Konovalov based his remarks on the fact that cryptocurrencies cannot be used as a payment method in the country, according to the Russian Constitution. Both the constitution and current financial system ย legislation in Russia โ€œcategorically prohibitโ€ using cryptocurrencies as a…

Top Five Exchange OKEx Launches Thai Baht Trading on Its P2P Platform

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Top five Cryptocurrency exchange OKEx has launched support for Thai baht-crypto trading on its client-to-client (C2C) platform, a press release shared with Cointelegraph on Feb. 14 reveals. According to the press release, currently only Bitcoin (BTC), Tether (USDT), Ethereum (ETH) and Litecoin (LTC) can be traded with the Thai baht on the exchangeโ€™s peer-to-peer platform. The exchange first announced that it would be adding support for the fiat currency in a post on Jan. 23. The post was also dedicated to recruiting merchants for the new market. In the same…