Day: June 3, 2019

Examining Australia’s Updated Regulations for ICOs and Crypto Trading

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The Australian Securities and Investment Commission (ASIC) on May 30, 2019 published an updated guideline for initial coin offerings (ICOs) and cryptocurrency trading. These new guidelines are aimed at helping cryptocurrency-related businesses understand their compliance requirements vis-à-vis existing laws contained in the Australian Corporations and ASIC Acts. The ASIC’s revampled ICO and cryptocurrency trading framework does not, however, cover guidelines for other regulators like the country’s tax agency and consumer protection group. The securities regulator say crypto businesses will have to refer to the published laws by those respective bodies. By updating its ICO…

Will Ethereum Surge Back to $1,000? Experts Weigh In

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By CCN: Ethereum has had a fantastic – if expected – turn-around the past few weeks, launching the second-largest cryptocurrency above $250. In the glory days of the ICO run, when transaction fees were high – and demand for Ether was also high – the ETH price sailed over $1,000. What are the odds of that happening now, or soon? Ethereum: Can ETH Join Bitcoin in Four-Figure Territory? Ethereum has made serious gains. Will it reach $1,000 soon? Source: Coinmarketcap.com Ethereum has faced stiff competition from other smart contract platforms,…

Open Bets On CME’s Bitcoin Futures Hit Record High

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The open interest in CME Bitcoin Futures contract hit a record high last Friday. The total figure of 5,190 for the period between May 27 to June 3 represents the largest number of open interest, or contracts outstanding, in CME bitcoin futures ever and a 7 percent gain on the week prior, according to data from the Commodity Futures Trading Commission. May 31 marked the last day of trading on the CME futures markets before contract settlements, which are set to take place at the end of today’s (June 3) trading session. The…

Open Bets On CME’s Bitcoin Futures Hit Record High

boss

The open interest in CME Bitcoin Futures contract hit a record high last Friday. The total figure of 5,190 for the period between May 27 to June 3 represents the largest number of open interest, or contracts outstanding, in CME bitcoin futures ever and a 7 percent gain on the week prior, according to data from the Commodity Futures Trading Commission. May 31 marked the last day of trading on the CME futures markets before contract settlements, which are set to take place at the end of today’s (June 3) trading session. The…

LocalBitcoins Quietly Removes Anonymous In-Person Crypto Cash Trading

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By CCN: Peer-to-peer cryptocurrency exchange service LocalBitcoins has completely suspended all physical cash trading on its network. Several traders have since reported having their standing orders canceled forcing them to revert to electronic-only transfer alternatives. Enthusiasts have long considered LocalBitcoins a haven for decentralized Bitcoin trading. But now it appears the company is losing its edge. The development has largely flown under the radar with no press releases or official mention of any change. Like all things in cryptoland, however, nothing remains a secret for long. One Reddit user noticed…

Brazilian State-Owned Bank Funds Documentary via Its Own Ethereum-Based Token

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A Brazilian state-owned bank is reportedly funding a documentary film through its own ether-based stablecoin, Cointelegraph Brazil reports on June 3. Brazil’s National Bank for Economic and Social Development (BNDES) will finance the production of a documentary in collaboration with local cinema producer Elo Company, whose movie “The Boy and the World” by Alê Abreu was nominated for an Oscar in 2016. According to the report, the funding for the project will be carried out through the national bank’s own cryptocurrency, BNDES token, a Brazilian real (BRL)-backed stablecoin that has…

BitMEX Ventures Invests in Crypto Exchange Licensed by Philippines Central Bank

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BitMEX Ventures has invested in a crypto exchange licensed by the central bank of the Philippines, the company announced in a news release shared with Cointelegraph on June 3. The release notes that the financial backing will help the Philippine Digital Asset Exchange (PDAX) develop a marketplace for digital assets beyond cryptocurrencies — including tokenized commodities, real estate equities and debt securities. The co-founder and CEO of PDAX, Nichel Gaba, says a limited infrastructure in the country has left consumers struggling to access financial products and services. He added: “Through digital assets and blockchain,…

Bitcoin Sees Sketchy Weekly Candle, Chances Of Pullback Increasing: Analysts

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Throw in the towel bulls — Bitcoin (BTC) has just printed its first mediocre weekly candle in over six weeks. With this, more and more analysts are becoming convinced that the crypto market is preparing for a drawdown and that a local top is forming. And despite the fact that some cheery commentators are convinced that Bitcoin still has fuel in the tank, the short-term bear camp has continued to gain members. The intense euphoria of last week’s rally is no more, and BTC bulls have finally begun to relent.…

World’s Biggest Banks Splash $63 million on a Blockchain Digital Currency

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Fourteen major banks in Asia, Europe and the U.S. are developing a digital currency for instant international settlements. | Source: Shutterstock; Edited by CCN  By CCN: Some of the world’s biggest banks are partnering with London-based Fnality International to create a blockchain digital currency for faster cross-border transfers. These banks from Japan, Europe, and the United States are hoping that issuing a utility settlement coin (USC) will lower transaction costs of cross-border payments by cutting out intermediaries. Fnality International has received $63.1 million in capital from the 14 participating banks.…

World’s Biggest Banks Splash $63 million on a Blockchain Digital Currency

boss

By CCN: Some of the world’s biggest banks are partnering with London-based Fnality International to create a blockchain digital currency for faster cross-border transfers. These banks from Japan, Europe, and the United States are hoping that issuing a utility settlement coin (USC) will lower transaction costs of cross-border payments by cutting out intermediaries. Fnality International has received $63.1 million in capital from the 14 participating banks. These banks include Barclays of Europe and the United States’ State Street; Japan’s MUFG Bank and Sumitomo Mitsui Banking Corp as well as UBS…