Day: March 1, 2019

‘Biometric Blockchain ATMs’ Scan Your Face to Fight Dark Web Card Fraud

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Cutting-edge blockchain ATM prototypes are being rolled out in Saudi Arabia with a unique take on granting users access to funds. The ATMs use biometric scanners to scan the face of each account holder as part of a five-factor authentication process secured by a blockchain app being used by the largest ATM provider in the Middle East. Biometric Facial Recognition With Blockchain Face-scanning verification has the potential to make PIN codes obsolete. Source: CCN / Conor MaloneyThe ATMs are the result of a partnership between Alhamrani Universal (AU) and blockchain…

Binance Dangles $100K in Tokens to Get Users Testing Decentralized Exchange

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Cryptocurrency exchange Binance is hoping to boost the number of people testing its upcoming decentralized exchange (DEX) platform by giving away $100,000 in tokens. Announcing the news on Twitter on Friday, Binance CEO Changpeng “CZ” Zhao said: “To test the hell out of @Binance_DEX, we are giving away roughly $100,000 USD equivalent, in REAL $BNB, as reward for our testnet trading competition.” The initiative, he said, would help the exchange launch the mainnet, or live version, of Binance DEX more quickly. According to Binance’s website, the funds will be made available as prizes…

IMF Recommends Immediate Action on Malta’s AML and CFT Supervision

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The International Monetary Fund (IMF) has said that the Malta Financial Services Authority (MFSA) has critical gaps in its supervision for anti-money laundering (AML) and combating the financing of terrorism (CFT), and is recommending “urgent action.” The news was reported by local news outlet the Times of Malta on Feb. 28. A Financial System Stability Assessment Report was purportedly issued by the IMF on Thursday, Feb. 28, and represents an assessment of Malta’s financial system, the quality of the regulatory and supervisory framework, as well as the country’s ability to…

FATF Issues Preliminary Guidelines on Digital Assets to Combat Money Laundering

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The Financial Action Task Force (FATF), an intergovernmental organization that develops policies against money laundering, has published preliminary guidelines for cryptocurrencies on its website on Thursday, Feb. 28. The FATF held a meeting on preliminary crypto requirements on Feb. 22. According to the organization, the new text of the Interpretive Note to Recommendation 15 — which contains  requirements for regulating and supervising digital asset services providers — has been finalized. However, the FATF expects to benefit from private sector consultations that are scheduled for May, asking entrepreneurs to send their…

Investors in Overstock Crypto Subsidiary Reduce Investment from $404 Mln to $100 Mln

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Chinese investment firm GSR Capital and Singaporean private equity firm Makara Capital will co-lead an investment of up to $100 million in tZERO, according to a press release on March 1. TZero is United States retail giant Overstock’s crypto-related subsidiary company. Overstock founder and CEO Patrick Byrne revealed that GSR and Makara have signed a Memorandum of Understanding (MoU) to make the investment in tZERO’s common stock in April. According to Byrne, the investment will support diligence, regulatory approval, and negotiation of binding contracts, as well as assist with tZERO’s…

Fundamentals Grow While Bitcoin Price Stagnates, Where Does BTC Go From Here?

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There’s no denying that Bitcoin is at a critical junction in its young ten-year lifecycle as a financial instrument and emerging technology. After becoming a household name in 2017 during the media storm and bull run to an all-time high Bitcoin price of $20,000 per BTC, the leading cryptocurrency erased much of the gains it saw during that time, and has recently stagnated as the market decides where it goes next. But as Bitcoin price consolidates and struggles to revive the bullish momentum it once had, fundamentals are growing stronger…

Facebook Reportedly in Talks With Crypto Exchanges to List New Coin

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Facebook Reportedly in Talks With Crypto Exchanges to List New Coin March 1, 2019 by Akshay Makadiya New reports suggest Facebook’s rumored stablecoin project is making significant headway. Anonymous sources reportedly close to the project have revealed the social media titan has approached a number of crypto exchanges to list its coin. Also read: TomoChain Says It’s Gunning for Ethereum, Could It Actually Happen? Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Facebook’s Crypto Token to Roll Out in a Few Months According to the New York Times,…

JPM Coin Unlikely to Directly Compete With Ripple’s XRP, for Now

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The research arm of top crypto exchange Binance has published an analysis of JPMorgan Chase’s newly announced stablecoin, arguing that the digital coin brings “minimal direct competition” to Ripple’s XRP token in the near term. The study was published on March 1 by Binance Research. As Cointelegraph has reported, JPMorgan Chase announced the forthcoming launch of its new blockchain settlement offering in mid-February: a stablecoin dubbed JPM Coin, to be backed 1:1 by the bank’s USD reserves. As Binance Research notes, the JPM Coin pilot project will initially focus on…

JPM Coin Unlikely to Directly Compete With Ripple’s XRP, for Now

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The research arm of top crypto exchange Binance has published an analysis of JPMorgan Chase’s newly announced stablecoin, arguing that the digital coin brings “minimal direct competition” to Ripple’s XRP token in the near term. The study was published on March 1 by Binance Research. As Cointelegraph has reported, JPMorgan Chase announced the forthcoming launch of its new blockchain settlement offering in mid-February: a stablecoin dubbed JPM Coin, to be backed 1:1 by the bank’s USD reserves. As Binance Research notes, the JPM Coin pilot project will initially focus on…

Ripple (XRP) Fundamentals and Technicals Sync, Bulls on the Way

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Ripple (XRP) up 3.5 percent Comments from SEC will clear XRP classification status Transaction volumes more than double those of early Feb—streams from BitFinex How XRP is classified will determine whether the asset will crumble or soar. Even so, the addition at CoinBase Pro and CoinBase opening up the currency to more than 26 million customers is massive for XRP. From candlestick arrangement, it is likely that prices will edge higher in response. Ripple Price Analysis Fundamentals A decade later and Bitcoin, being the world’s most valuable coin, determines digital…