Vanbex Founders Sue Former Contractor for False Statements That Firm Was a Scam

Canadian blockchain firm Vanbex has filed a lawsuit against its former contractor for spreading false and defamatory statements about the firm, as Vanbex announced on May 1. On March 14, Canadian police froze personal assets of the firm’s founders Kevin Hobbs and Lisa Cheng due to an allegedly fraudulent initial coin offering (ICO). According to court documents, the Royal Canadian Mounted Police (RCMP) determined that Vanbex founders Kevin Hobbs and Lisa Cheng were defrauding investors by offering investment in its token Etherparty (FUEL), while intending to use investor funds for…

Code For Ethereum’s Proof-of-Stake Blockchain to Be Finalized Next Month

Code for ethereum’s highly-anticipated proof-of-stake (PoS) blockchain is on course to be finalized as early as sometime next month. In a bi-weekly call between ethereum developers, Ethereum Foundation researcher Justin Drake said that code specifications for the first phase of ethereum’s transition to a proof-of-stake network were “on track” to be finalized by June 30. “I’ve been continuing to fine comb Phase Zero in preparation for the spec freeze which we’re targeting for the 30th of June,” Drake remarked on the call. “We’re still very much on track. Still, [code]…

Bitcoin’s Future is Shining but BTC Bulls under Liquidation Pressure

Bitcoin (BTC) stable above $5,000 Adoption will drive BTC prices higher For mainstream adoption of digital assets, there must be utility. Bitcoin as a peer-to-peer cash system is useful with a secure network that is censorship resistance and immune to politics. With increasing use fueled with next year’s halving, Bitcoin (BTC) is likely to expand. Bitcoin Price Analysis Fundamentals Bitcoin adoption is all about the number of individuals willing to ditch fiat and hold BTC. To satisfactorily gauge how many do, analysts track active Bitcoin addresses. Good news is, despite…

Chinese Crypto Exchanges List Bitfinex Token Futures after Tether Scandal

By CCN.com: According to Zirui Zhang, the head of business development at Neutral Project, a stablecoin backed by Sequoia Capital, a major venture capital firm with $1.4 trillion of market value, some crypto exchanges in China has listed Bitfinex token futures contracts. Latest: some exchanges in China already listed #bfx token’s futures contract… people are trading over there based on the assumption that there’s not enough evidence and court will delay its decisions… 🤔 #USDT #Tether pic.twitter.com/qHipAaqKv1 — Zirui 🧜🏻‍♀️ (@zirui_z) May 2, 2019 On April 30, CCN reported that…

New Regulation Allows for Digital Shares, Tokenized Securities

The Thai Securities and Exchange Commission (SEC) deputy secretary-general Tipsuda Thavaramara has said that the recently introduced regulation allows for the issuance of digital shares and a tokenized securities depository platform. English-language local media Bangkok Post reported the declarations on May 2. In her comments, Thavaramara referred to the amendment to the Securities and Exchange Act of 2019, which is in effect since April 17. Per the report, the SEC urges all stakeholders to prepare for the amended act, which aims to help Thailand introduce blockchain use in trade and…

Crypto Markets See Gentle Green, US Stocks Edge Lower at Opening Bell

Thursday, May 2 — yesterday’s mild market movements continues, with most of the top twenty cryptocurrencies seeing mild green on the day at press time with typical growth of between 1 and 3%, as Coin360 data shows. Market visualization courtesy of Coin360 Bitcoin (BTC) is up 1.4% on the day and is trading at $5,455 by press time, according to CoinMarketCap. After a bullish spike at the start of its 7-day chart — with a break above the $5,500 mark on April 26 — the top cryptocurrency swiftly saw a…

Binance Unveils Latest Compliance Partnership Targeting Anti-Money Laundering

Cryptocurrency exchange Binance has partnered with blockchain monitoring solutions provider Elliptic to boost its regulatory compliance as part of its international expansion, industry news outlet CoinDesk reported May 2. As part of plans to ensure smooth operations in new countries with varying regulations on cryptocurrency, Binance will use Elliptic to ensure it can comply with various demands from authorities. Specifically, CoinDesk references Binance’s chief compliance officer Samuel Lim as saying that the latest deal will focus on Anti-Money Laundering (AML). Last month, the exchange also teamed up with blockchain analytics…

Financial Regulator Authorizes 9 Fintech, Blockchain Firms for Trial Operations

The South Korean Financial Services Commission (FSC) has authorized nine fintech companies to operate in the country as part of a regulatory sandbox, English-language local media The Korea Times reported on May 2. Per the report, the regulator has named the aforementioned nine startups and companies to provide innovative services using blockchain, fifth-generation telecommunications and other new technologies. The development is reportedly part of a broader financial regulatory sandbox initiative launched last January. The sandbox will reportedly include new financial services being offered for a trial period of up to…

Grayscale Capital Launches ‘Bitcoin is the New Gold’ Campaign

As Bitcoin steadily approaches $5500, staging a moderate recovery following last week’s crash in pricing, a cryptocurrency investment firm is set to launch its new media campaign. While Bitcoin has routinely been compared to gold, with the original cryptocurrency likened as ‘digital gold’ throughout its history, Grayscale Capital is taking that moniker to a new level. On May 1, the investment company began a marketing and twitter campaign, using the tag #DropGold, in an effort to broaden the appeal of cryptocurrency to institutional and traditional investors. Grayscale is targeting an…

Grayscale Capital Launches ‘Bitcoin is the New Gold’ Campaign

As Bitcoin steadily approaches $5500, staging a moderate recovery following last week’s crash in pricing, a cryptocurrency investment firm is set to launch its new media campaign. While Bitcoin has routinely been compared to gold, with the original cryptocurrency likened as ‘digital gold’ throughout its history, Grayscale Capital is taking that moniker to a new level. On May 1, the investment company began a marketing and twitter campaign, using the tag #DropGold, in an effort to broaden the appeal of cryptocurrency to institutional and traditional investors. Grayscale is targeting an…