Day: March 29, 2019

Indian Street Protests for Cryptocurrency

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The fourth and largest of a series of blockchain supporter rallies is set for Bangalore on March 30, and is anticipated to have a huge public impact because of the planned participation of numerous developers — the key to India’s blockchain growth. Previous rallies this month in Delhi, Mumbai and Hyderabad saw thousands of crypto and blockchain enthusiasts and professional stakeholders take to the streets. The Reserve Bank of India (RBI) ordered financial institutions to stop dealing with cryptocurrency businesses last year, with a ban coming into effect on July…

Tezos (XTZ) Earns $43 Million Following Coinbase Announcement, Can It Rally?

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Tezos proof-of-stake project’s market capitalization was up 8% since the session’s open this Friday. As of 1109 UTC, the Tezos blockchain attracted $43 million via the sale of its native token XTZ. The coin’s valuation against the US dollar surged from 0.781 to 0.848, its best since November 20 last year. The market volume, in the past 24 hours, was above $6.78 million, with BitMax and Gate.io hosting the maximum trades. Tezos Price Chart | Source: CMC According to CoinMarketCap volume indicator, XTZ’s upside benefited from bitcoin’s overlong stability near the…

Former Mt. Gox CEO Mark Karpeles to Appeal Data Conviction

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Mark Karpeles, former CEO of the long-defunct bitcoin exchange Mt. Gox, is to appeal his conviction on data manipulation charges earlier this month. According to a report from The Associated Press on Friday, Karpeles said he had decided to appeal because the Tokyo District Court did not fully look at the defense arguments. Karpeles said: “During the opening of my trial in 2017, I swore to God that I am innocent of all charges. I believe appealing to the judgment is appropriate so that I can be judged again in…

Hong Kong’s Securities Regulator Issues Detailed Guidance for Security Token Offerings

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Hong Kong’s securities regulator, the Securities and Futures Commission (SFC) has issued official guidance on security token offerings (STOs), in a statement published on March 28. The guidance aims to clarify the legal and regulatory requirements for parties engaging in STO-related activities. The document opens with a proposed working definition of a security token and sale, noting that: “STOs typically refer to specific offerings which are structured to have features of traditional securities offerings, and involve Security Tokens which are digital representations of ownership of assets (eg, gold or real…

Will It Spark Institutional Adoption?

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With recent exchange imbroglios, like QuadrigaCX’s nine-figure mishap and DragonEx’s recent loss of purported millions worth of Bitcoin, Ethereum, and other crypto assets, big-name onlookers are likely shying away from the space. Related Reading: DragonEx Crypto Exchange Hack Highlights the Importance of Using Reputable Platforms More likely than not, they see investing in this embryonic asset class as entirely risky, and thus nonsensical. A recent scathing Bitcoin-centric feature from mainstream business news outlet The Economist would confirm this. The article’s author mentioned the QuadrigaCX fracas a number of times to…

Coinbase Custody Begins Staking Services With Tezos, Maker to Follow

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The institutional asset custody arm of United States cryptocurrency exchange Coinbase has launched staking for Tezos (XTZ), the company announced in a blog post on March 29. Coinbase Custody, which provides storage facilities for institutional investors, is seeking to expand its suite of services to include staking — a means by which Proof-of-Stake (PoS) cryptocurrency networks incentivize activity. Through its offline storage service, investors will be able to participate in networks such as Tezos using Coinbase as a regulated intermediary. “The launch of Tezos staking through Coinbase Custody serves an…

Bitcoin Price Hits 5-Week High With Chart Echoing 2015 Pre-Rally Pattern

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View Bitcoin jumped to a five-week high of $4,100 earlier today, reinforcing the bullish view put forward by the recent bounce from the crucial 30-day moving average support. That, coupled with the flag breakout on the 4-hour chart, indicates scope for a re-test of $4,190 (February high). The short-term bullish case would weaken if prices fail to close today above $4,055 (March 21 high). On the downside, a bearish reversal would be confirmed if and when prices find acceptance below the 30-day moving average, currently at $3,900. Additionally, bitcoin’s 200-candle…

Cybersecurity Firm WISeKey Launches Blockchain-Powered ID Solution for IoT Devices

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Switzerland-based blockchain and cybersecurity firm WISeKey has launched a new blockchain-powered digital identity solution to protect Internet of Things (IoT) devices and their data. The news was announced in a WISeKey press release on March 29. WISeKey focuses on secure authentication and identification solutions for people and smart objects by implementing a cryptographic tool called Root of Trust (RoT). WISeKey IoT claims to have an install base of over 1.5 billion secure microchips across “virtually all IoT sectors” — from connected carts and smart cities to drones and crypto tokens.…

Android Malware Targets Users of 32 Crypto Apps, Including Coinbase, BitPay

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A new strain of Trojan malware for Android phones is targeting global users of top crypto apps such as Coinbase, BitPay and Bitcoin Wallet, as well as banks including JPMorgan, Wells Fargo, and Bank of America. The news was reported by technology news outlet The Next Web on March 28. Based on research from prominent cybercrime analytics firm Group-IB, this is reportedly the first time the Trojan — now named “Gustuff” — has been reported or analyzed. The malware is described as being designed for mass infection and is spread…

Russia’s Richest Man Set to Develop a Palladium-backed Cryptocurrency

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While Russia has been struggling to introduce crypto regulations, the country’s richest man has come forward with a new proposal. Vladimir Potanin, the Russian billionaire has proposed to launch new crypto tokens pegged to the precious metal of palladium. The concept of stablecoins i.e. a crypto token backed by fiat currencies is getting more popular these days. Thus a digital currency backed by a precious commodity can likely be a good consideration. Also, the tokenization of commodities would make it easy to trade them globally. As reported by Bloomberg, Potanin…