Day: September 29, 2019

Crypto in Cuba Faces Challenges Despite Growing Adoption, Overview

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Following the roll-out of mobile internet across the country in 2018, many ordinary Cubans are increasingly using cryptocurrencies to bypass economic sanctions imposed by the United States and access the global marketplace. Despite growing adoption, cryptocurrencies still face a number of challenges in Cuba, including limited access to crypto exchanges, lack of a pertinent regulatory apparatus and the growing popularity of a gold-backed MLM stablecoin. 10,000 Cubans use crypto On Sept. 12, a report published by Reuters included excerpts from an interview with Jason Sanchez, a 35-year-old Cuban who describes…

Is XRP a Security? We May Never Know

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A class action lawsuit against Ripple Labs Inc. alleging that XRP is an unregistered security faces another setback. The discourse surrounding the securities laws and the treatment of digital assets continues to draw debate among market participants, regulators and legal practitioners. One of the most high-profile targets in this ongoing debate is XRP, a digital asset issued by Ripple Labs Inc.  Despite voluminous public examination, regulators have not reached a consensus on the appropriate treatment for this widely traded digital asset. Amid vociferous debate and clamoring from market participants for…

Bitcoin Is a Viable Way to Remove the State From Your Life

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The last decade has seen central banks print trillions of dollars, governments grown much larger, wars continue with no end, and ordinary citizens taxed even more. Thankfully there are individuals and small pockets of people all around the world who believe something is wrong. Many of these people have a plan to help end the illegitimacy of the nation states. Whether it be through protests, unschooling, and spreading stateless education, there are various methods available in this day and age. Bitcoin and the cryptoconomy are also great forms of protest,…

International Crypto Exchange Luno Adds Bitcoin Cash Trading

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Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH, but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from…

Fusion Network’s Token Swap Wallet Compromised, FSN Price Plummets

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Fusion Network’s token swap wallet was compromised. Roughly a third of FSN tokens was stolen as a result. Fusion Foundation announced in a Medium post published on Sept. 29 that its swap wallet was compromised, which resulted in the theft of 10 million native FSN and 3.5 million Ethereum (ETH)-based ERC-20 FSN tokens. The Foundation’s investigation has not revealed any other affected wallets so far. The alleged cybercriminal reportedly already started to launder the coins: “After the currency was stolen, abnormal wash-trading behaviour occurred, and some of the stolen tokens…

Bankers Start to Recognize Bitcoin’s Role in Financial Evolution

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Digitization, disruption, blockchain, and frictionless payments. It’s amazing how prominent figures from the financial elite can provide a pretty detailed description of decentralized money without uttering “bitcoin” or “crypto.” But the fact of the matter is that clever businessmen in any industry, banking is no exception, would quickly spot emerging competition, analyze its strengths, and move to catch up with it before it’s too late. Cryptocurrencies bring financial evolution that’s hard to ignore anymore. Also read: The Number of Cryptocurrency Wallets Is Growing Exponentially Central Banks Have No Tools Left…

Zcash Bug Could Reveal Shielded Full Nodes’ IP Addresses

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A bug in all Zcash (ZEC) implementations and most of its forks could leak metadata containing the full nodes’ with shielded addresses (zaddr) IPs. Komodo (KMD) core developer Duke Leto disclosed the bug in a blog post published on his personal website. A Common Vulnerabilities and Exposures (CVE) code has already been assigned to track the issue on Sept. 27. Leto explained: “A bug has existed for all shielded addresses since the inception of Zcash and Zcash Protocol. It is present in all Zcash source code forks. It is possible…

LedgerX Claims Ex-CFTC Chairman Stalled Approvals Due to Personal Bias

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Cryptocurrency derivatives firm LedgerX alleges that former United States Commodity Futures Trading Commission (CFTC) chairman Christopher Giancarlo obstructed the approval of its amended Derivatives Clearing Organization (DCO) registration because of personal bias against the firm’s CEO Paul Chou. As Industry news outlet Coindesk reported on Sept. 28, LedgerX made the allegations in two letters obtained via a Freedom of Information Act request. The first letter — dated July 3 — states: “We have strong reason to believe that this unreasonable delay that is in clear violation of the Commodity Exchange…

How Crypto Gambling Is Regulated Around the World

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The Japanese House of Representatives recently passed new crypto asset regulation affecting exchanges and custodians — the Payment Services Act and the Financial Instruments and Exchange Act. However, the country’s crypto gambling industry still endures strict gambling regulations.  “Japan has very strict rules regarding gambling and the same applies to crypto gambling,” Joseph D. Hugh, CFO of international cryptocurrency betting platform Jukebucks, told Cointelegraph, adding:   “Although it is very difficult to restrict players who play, the government keeps a close tab on crypto transactions originating from Japan using taxation as…

Bitcoin (BTC) Price Weekly Forecast: Downtrend Intact Below $9K

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There was a nasty decline in bitcoin below the $9,000 support against the US Dollar. The price even declined below the $8,000 support and it is currently consolidating losses. There is a declining channel forming with resistance near $8,350 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price remains at a risk of more losses as long as it is trading below the $8,750 resistance area. Bitcoin price is trading in a downtrend below $9,000 against the US Dollar. BTC is likely to test the…