Day: July 29, 2019

Head of SEC Enforcement Dept. for Cryptocurrency, Cyber Security Resigns

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The chief of the United States Securities and Exchange Commission (SEC) Division of Enforcement’s Cyber Unit, Robert A. Cohen, has stepped down from his role at the commission. According to an official announcement by the SEC, Cohen served as the first chief of the Cyber Unit since its inception in 2017. The Cyber Unit is in charge of securities violations pertaining to cryptocurrency and digital assets, in addition to cyber-related trading violations and cybersecurity disclosures and procedures. During his time leading the unit, Cohen supervised a number of investigations, including…

Chile-Based Remittance and Payment Firm CurrencyBird Joins RippleNet

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Chile-based peer-to-peer remittance company CurrencyBird has joined RippleNet, Ripple’s global blockchain-based network of payment providers, according to an announcement published on July 25. CurrencyBird has thus ostensibly become the first Chilean payments company to join RippleNet, a network of institutional payment-providers such as banks and money services businesses that use solutions developed by Ripple to send money globally. The company states in the post that the partnership will allow it to add new routes to its more than 50 already existing destinations, new currencies, better prices and faster transfer speeds. …

Blockchain Startup Nets $2.4 Million in Public Funding to Fight Food Slavery

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Blockchain startup Lumachain has received $2.4 million in public funding from Main Sequence Ventures, a $165.6 million venture capital fund backed by the Australian government and the federal Commonwealth Scientific and Industrial Research Organisation.  Lumachain’s newly-received funds will go toward staffing fees as well as international expansion, according to a report by local financial news periodical the Australian Financial Review (AFR) on July 29. Lumachain reportedly uses blockchain technology to track and trace the condition and whereabouts of food products along the supply chain in real time.  According to Lumachain’s…

Circle CEO to Testify Before Senate on Blockchain and Digital Assets

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Circle co-founder and CEO Jeremy Allaire is scheduled to testify before congress tomorrow as a representative of The Blockchain Association — a business organization comprised of blockchain industry advocates.  Allaire will testify before the Senate Committee on Banking, Housing and Urban Affairs in an open session hearing called “Examining Regulatory Frameworks for Digital Currencies and Blockchain.” In his prepared testimony released on July 29, Allaire is prepared to discuss a number of relevant issues, including identity, privacy, data security, domestic and international approaches to regulation, as well as the potential…

Ethereum Classic Labs Announces Accelerate Program to Promote ETC Apps

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Ethereum Classic Labs incubator officially announced its accelerator program to promote the development of products based on the Ethereum Classic network. On July 28, Ethereum Classic Labs published a blog post to provide details about Ethereum Classic Labs Accelerate, a program for funding and educating blockchain firms and communities that are creating products and services on the Ethereum Classic blockchain. According to the announcement, the first Cohort of Ethereum Classic Labs Accelerate was formed during Q1 2019 while the second is expected to be announced in Q3. Ethereum Classic Labs…

Exploring the SLP Token Universe Built on the Bitcoin Cash Chain

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Since last August, the Simple Ledger Protocol (SLP) has become a prevalent application within the Bitcoin Cash ecosystem. So far there’s been thousands of SLP tokens created, a number of which have been very popular and used regularly. Tokens have been issued by governments like Liberland, there’s a new SLP stablecoin backed by USD, a city-token being built for Dublin, Ohio and trading platforms like Coinex and Altilly have begun to list SLP-based tokens. Also Read: SLP Developers Publish Specs for a Unique Type of Non-Fungible Tokens Bitcoin Cash Tokenization…

US Commodity Futures Trading Commission Rehires Advisor From Coinbase

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The United States Commodity Futures Trading Commission (CFTC) has announced that it is hiring Andrew L. Ridenour as senior counsel to the chairman. Up until recently, Ridenour worked at the major cryptocurrency exchange Coinbase. CFTC Chairman Tarbert unveiled Ridenour and others as new hires on July 17, commenting that the “counsel and expertise of my team will be essential to our efforts to keep our derivatives markets vibrant and hold wrongdoers accountable.” Who is Andrew Ridenour? According to Ridenour’s LinkedIn profile, he worked at the CFTC for 9 years as…

Crypto Market Trading — Inside Look From Those Earning a Living Off It

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Since Bitcoin (BTC) came into the world back in 2009, the digital asset industry as a whole has grown quite exponentially — with the market reaching its apex on the break of 2017-2018. Additionally, in the midst of all this, there has been a rise in the crypto trading sector, with the total capitalization of this domain currently pegged around the $277.90 billion mark. In its most basic sense, cryptocurrency trading can be compared to forex trading because it allows enthusiasts to purchase digital assets using fiat currencies. Not only…

Proposed Crypto Tax Cut in Singapore to Help Crypto Business: PwC Expert

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Singapore’s plans to exempt certain digital currencies from the Goods and Services Tax (GST) would benefit cryptocurrency-related businesses, according to a partner in PwC Hong Kong’s corporate tax practice. As reported by Hong Kong’s English language newspaper South China Morning Post on July 29, Gwenda Ho argued that the Singapore government’s proposal to drop the seven per cent GST for cryptocurrencies when using them to pay for goods and services would have a positive impact on crypto exchanges, asset managers and blockchain entrepreneurs. Per Ho, the adoption of the proposed…

Technical Price Analysis | Ethereum (ETH) and Ripple (XRP)

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Last week, Ethereum (ETH) showed some near-term recovery against the US dollar with the ETH/USD pair forming a support base above $200 before showing signs of upside correction. On the other hand, Ripple (XRP) did not perform well last week with prices falling by over 7%, but in Monday’s session, the coin has been rather stable. Ethereum Price Analysis For the better part of the week, ETH was trading above the $208 and $216 resistance levels. Additionally, the coin saw a break above the Fib retracement level of 23.1% for…