Day: July 16, 2019

Binance Eyes Launch of Crypto Exchange in South Korea

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Binance, the world’s top exchange by trading volume, is considering launching a branch in South Korea, according to reports. Changpeng “CZ” Zhao confirmed the possibility to local news source Block In Press on Tuesday, saying (via translation) that the firm is “working with local partners, but we do not know the details.” However, according to a report by CoinDesk Korea, a business entity dubbed Binance LLC has been established in the country, with the director listed as Jiho Kang of BXB Inc., a firm offering a Korean won-backed stablecoin. A Binance representative reportedly told Block…

Bitcoin Suisse Applies for a Banking License in Switzerland

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Swiss crypto broker Bitcoin Suisse has applied for banking and securities dealer licenses from Switzerland’s finance regulator, the company confirmed in a press release on July 16.  Bitcoin Suisse, which forms part of the country’s Crypto Valley Association, said it had submitted requests to the Swiss Financial Markets Supervision Authority. The reason, it said, was in order to adapt to a rapidly-changing regulatory landscape vis-a-vis cryptocurrencies, even in Switzerland, which is known for its proactive stance on the industry. “These licenses would allow Bitcoin Suisse to further expand its offering…

Bitcoin Maximalists Celebrate Ethereum’s ‘Demise’ amid Founder’s Scaling Concerns

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Ethereum developers are having trouble scaling the most prominent smart contract platform in the world. Ethereum and The Bitcoin Cash Gambit It’s that simple. Scaling something worth billions of dollars without breaking it is a monumental task. Development roadmaps have regularly been delayed. Founder and Ethereum developer Vitalik Buterin thinks that the next era of Ethereum is at least a year off, but in the meantime, Bitcoin Cash may have all the properties needed to scale. “In the longer term (1+ year out) the scalable data layer is going to…

Vitalik Buterin Suggests Bitcoin Cash Blockchain Usage as a Stopgap Until ETH 2.0

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In an unexpected turn of events, Vitalik Buterin has suggested the use of the Bitcoin Cash (BCH) blockchain as a data layer where transaction verification takes place. In essence, all ETH transactions would be settled and verified on the BCH blockchain, and confirmation will be sent back to Ethereum. This according to a post from Buterin on Ethereum Research, July 13, 2019. The Suggestions and Public Reaction Crypto Twitter exploded when Vitalik suggested the use of the BCH chain as a data layer for Ethereum. Most of the reactions were…

PR: Bitcoin.com Wallet Joins Blockchain Consortium FIO

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Popular BCH and BTC wallet joins Foundation for Interwallet Operability (FIO) to improve crypto usability across blockchains DENVER, CO — 16 July 2019: Bitcoin.com wallet, the official wallet of Bitcoin.com, has joined the Foundation for Interwallet Operability (FIO) in a move that will assist the wave of new users who are expected to join cryptocurrency markets as a result of June’s recent coin and token price increase. As the newest member of the FIO, Bitcoin.com wallet joins a consortium of 23 other leading companies in the crypto ecosystem, including Binance’s…

Canadian Town Says Yes to Accepting Bitcoin for Property Taxes

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Canadian crypto solutions provider and trading platform operator Coinberry has struck its second municipal partnership to provide Bitcoin payments processing for property taxes.  A press release published on July 15 revealed that Coinberry has begun negotiations with the City of Richmond Hill in the Greater Toronto Area after the Council voted on July 10 in favor of cementing an agreement with Coinberry to support Bitcoin (BTC) property tax payments for residents and firms in its jurisdiction. The partnership represents Coinberry’s second municipal foray in less than six months, with the…

Mnuchin Crypto Speech Was Total Validation of Bitcoin: Barry Silbert

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Bitcoin (BTC) proponents were reacting to fresh criticism of cryptocurrency from the United States government July 16, following a press conference with Treasury Secretary, Steven Mnuchin. Mnuchin, who held the 30-minute event on Monday, said he wished to focus explicitly on Bitcoin and Facebook’s Libra digital currency protocol. He referred to both as “cryptocurrencies,” despite analysis confirming that Libra is in fact not similarly structured to true cryptocurrencies. “As the president has said, Bitcoin is highly volatile and based on thin air,” Mnuchin summarized, repeating what he described as “concerns”…

OKEx Executive May Make Appearance at Tron Buffett ‘Power Lunch’

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Photo: Pixabay With only days to go until the landmark meeting between Tron and billionaire investor Warren Buffett, rumors are flying about some high-profile guests at the fund-raising lunch, from the world of politics and crypto. Justin Sun, CEO and founder of Tron, won the lunch date with Buffett, a renowned crypto skeptic, after bidding $4.6 million for the opportunity, with the money going to help San Francisco’s Glide charity. Lunch Date Now, with the lunch date set for Thursday, July 25, in Silicon Valley, speculation is rife that Sun…

Bitcoin, Libra Pose National Security Threat

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The Treasury Department has concerns that Libra, as well as Bitcoin, could be misused by terrorist financiers and money launders, to carry out illicit activities ranging from cybercrime to tax evasion, extortion, and ransomware. U.S. Treasury Secretary Steven Mnuchin claimed that he was not currently comfortable with Facebook launching its Libra cryptocurrency platform. He said that he has “very serious concerns” about cryptocurrencies, including the one being developed by Facebook. That is one of the latest most obvious indications that Washington is preparing to exert its power over digital currencies.…

Bitpoint Reveals Amounts Stolen, Pledging to Reimburse Users in Crypto

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Japanese exchange Bitpoint has published the breakdown of crypto assets stolen in the ¥3 billion (~$27.8 million) hack of its platform earlier this month. A document published by Bitpoint’s parent firm Remix Point Inc. on July 16 reveals that five crypto assets in total were stolen by the attackers. The breakdown provided by the company compares the proportion of stolen customer assets with assets belonging to the firm: 1,225 Bitcoin (BTC) worth ¥15.3 billion — ¥1.28 billion belonging to customers and ¥250 million to the firm;  1,985 Bitcoin Cash (BCH)…