Day: October 22, 2019

Putin Is The Most Influential Person In Blockchain

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Changpeng Zhao, CEO of major cryptocurrency exchange Binance, named Russian President Vladimir Putin as the most influential person in the blockchain industry. Cooperation with the Russian gov’t On Oct. 22, in an article on RBC News, Zhao, also known as CZ within the crypto community, pointed to Russian President Vladimir Putin as the most influential person in the blockchain space. Zhao further said that he believes the bill on regulating digital money may be adopted in the Russian Federation in the foreseeable future. Zhao also reportedly revealed that Binance may…

US Congress Considers A Draft Bill Claiming Stablecoins Are Securities

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United States Congress is considering a draft bill that claims all managed stablecoins must be seen as investment contracts and therefore as securities. Libra in the United States The U.S. Representative for Texas’s 29th congressional district, Sylvia Garcia, introduced a draft bill to the House Financial Services Committee on Oct. 18. The draft bill, called the ‘‘Stablecoins are Securities Act of 2019,” seeks to regulate stablecoins under the Securities Act of 1933. This entails “amending statutory definitions of the term security” to include the term “managed stablecoins.” The proposed bill…

FATF’s Regulations to Push Criminals to Privacy Coins: CipherTrace CEO

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The Financial Action Task Force’s (FATF) crypto regulations will trigger a shift of criminal activity from Bitcoin (BTC) to privacy coins, it has been claimed. Criminals mostly use BTC and ETH to date David Jevans, CEO of major crypto transaction tracking firm CipherTrace, shared his remarks about criminal use of cryptocurrencies at a panel held by blockchain advocacy group, the Chamber of Digital Commerce, on Oct. 21. During the panel, Jevans claimed that well-known cryptocurrencies such as Bitcoin and Ether (ETH) are currently the most popular among criminal actors to date…

Overstock’s VC Arm Joins $31M Funding Round For Silicon Valley Fintech

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Overstock’s venture capital arm Medici Ventures has invested in PeerNova, a startup that develops blockchain-based solutions for financial institutions to synchronize their data across multiple systems. In an Oct. 22 news release, PeerNova reported that it had raised $31 million in growth funding led by existing investor Mosaik Partners, with participation from Medici Ventures and Intuitive Venture Partners. This funding round brings the total raised funds to $74 million. PeerNova, a California-based software company in the financial industry, is planning to use this financing to increase its market penetration and further…

How Cryptocurrency Developers Can Earn Bitcoin Cash With REST APIs

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A recent video by Chris Troutner, Senior Javascript Developer at Bitcoin.com, points out a problem with anti-profit seeking approaches to crypto development, and how devs can incentivize growth and attract business using REST APIs to earn BHC. Without incentives, Troutner notes, many promising services and applications run the risk of succumbing to an economic tragedy of the commons, when user demand surpasses developer ability to accommodate these needs. Also Read: Running Bitcoin Cash: An Introduction to Operating a Full Node Profit Protects Quality There’s nothing wrong with free, but at…

Facebook Will Not Launch Libra Without US Approval

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Mark Zuckerberg, the founder of social media giant Facebook, plans to tell United States Congress that Libra will not launch anywhere in the world until U.S. regulators approve it. Libra won’t launch anywhere without Congressional approval Per Zuckerberg’s prepared remarks released on Oct. 22 in advance of planned hearings before the U.S. House Financial Services Committee, the Facebook CEO wants to assuage regulatory concerns over the launch of the coming stablecoin. He said: “Facebook will not be part of launching the Libra payments system anywhere in the world until US…

Pomp’s Morgan Creek Raises $61M For Blockchain Fund, Targets $250M

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Anthony Pompliano’s Morgan Creek Capital Management firm established a blockchain fund to explore opportunities using distributed ledgers. On Oct. 18, the cryptocurrency asset management firm Morgan Creek submitted a filling for its second blockchain fund to the United States Securities and Exchange Commission (SEC) and has so far raised nearly $61 million from 11 investors. The filing — a Form D, that requests an exemption for the offering — shows that the fund started its first offering on Oct. 16 and is ongoing. In an exclusive interview with Cointelegraph, Morgan…

Fraudulent Transactions in Crypto, Explained

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2. Exchanges, businesses, wallets and people that aren’t what they say they are. For example, there might be a crypto exchange that looks like it offers fantastic rates and low fees on the trading fees you use the most. But, once you have made a deposit, it could be almost impossible to withdraw your funds. Another risk is entrusting your assets with a platform that has inadequate security measures in place. Just look at Mt. Gox — an astounding 850,000 BTC was lost all the way back in 2014, and…

Facebook’s Libra May Cause Banks to Cut Financing to the Company

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Ever since the potential launch of Facebook’s Libra was announced by the social media behemoth, the company’s cryptocurrency project has lurched from one problem to the next. Regulators from different parts of the world had voiced their concerns about the Libra cryptocurrency, and even the President of the United States slammed Facebook in one of his famous tweets. New Trouble? In a new development, it has now emerged that if Facebook (NASDAQ:FB) does not take care of the regulatory issues with regards to Libra, then banks might refuse to provide…

Facebook’s Libra May Cause Banks to Cut Financing to the Company

boss

Ever since the potential launch of Facebook’s Libra was announced by the social media behemoth, the company’s cryptocurrency project has lurched from one problem to the next. Regulators from different parts of the world had voiced their concerns about the Libra cryptocurrency, and even the President of the United States slammed Facebook in one of his famous tweets. New Trouble? In a new development, it has now emerged that if Facebook (NASDAQ:FB) does not take care of the regulatory issues with regards to Libra, then banks might refuse to provide…