Day: November 5, 2019

Canada Shuts Down Crypto Exchange. It Still Owes Customers $12 million 

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What has been a fairly bad few weeks for cryptocurrency exchanges, just got a little worse?  A Vancouver-based crypto trading platform, Einstein Exchange, has been closed by Candian authorities; while still owing $16 million in outstanding obligations. What Happened to Einstein? On Monday, the British Columbia Securities Commission (BCSC), provided a statement noting the “action to protect customers” of the Einstein exchange. The regulatory agency sought a Supreme Court order on November 1, designating an interim receiver to seize the exchange. The accounting firm, Grant Thornton Ltd – the same…

Libra Is More Like Email Than PayPal

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Facebook’s crypto project Libra will be more similar to email tech than payment services such as PayPal, vice president of product at Calibra said. Speaking at the Web Summit in Lisbon on Nov. 5, Kevin Weil, vice president of product at Facebook’s Calibra digital wallet unit, emphasized that interoperability — the basic principle of email — will the key concept of Libra. “A journey of years and decades” Noting that any global developer or entrepreneur can build wallets for Libra, Weil encouraged the global community to collaborate on the interoperable…

Microsoft’s ‘Azure Blockchain Tokens’: Digital Currency Development Platform

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At an annual conference in Orlando, Microsoft announced that it would be launching a platform that would effectively enable enterprises to create their own digital tokens for use. The platform is called Azure Blockchain Tokens and is available for preview. Microsoft has been one of the few giant companies to adopt digital currency at a very early age since the concept was introduced to the world. It had since then begin accepting digital payments in Bitcoin(BTC)trade and other digital currencies. The platform is a store of token templates, all of…

Æternity Blockchain Developers Plan to Take On Ethereum With Final Hardfork – Handing over Governance to the Community

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Popular open-source blockchain protocol Æternity is going forward with its LIMA hard fork, releasing the latest software to miners and handing over governance to the community. Æternity is one of the most active blockchain developer communities measured by code activity. advertisement “æternity grew from a team of core developers to an ecosystem built by its community, for its community, which makes this protocol upgrade a step forward in the project’s mission. The launch of the on-chain governance system also marks a new era for æternity blockchain,” said Yanislav Malahov, Founder of…

Huobi Global’s Ban on U.S. Customers Could Rattle Huobi Token (HT)

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Huobi Global will disable the accounts of U.S.-based customers. HBUS welcomes Huobi Global’s users. The move could impact the price of Huobi Token (HT). Huobi Global announced Monday it will freeze the accounts of its U.S. customers in order to comply with domestic regulations. The move could have severe implications for Huobi Token (HT), the company’s native cryptocurrency. Complying with Laws and Regulations In a blog post, the world’s third-largest cryptocurrency exchange by trading volume, Huobi Global, announced that it had been steadily disabling the accounts of its U.S. customers. Now,…

Huobi Global’s Ban on U.S. Customers Could Rattle Huobi Token (HT)

boss

Huobi Global will disable the accounts of U.S.-based customers. HBUS welcomes Huobi Global’s users. The move could impact the price of Huobi Token (HT). Huobi Global announced Monday it will freeze the accounts of its U.S. customers in order to comply with domestic regulations. The move could have severe implications for Huobi Token (HT), the company’s native cryptocurrency. Complying with Laws and Regulations In a blog post, the world’s third-largest cryptocurrency exchange by trading volume, Huobi Global, announced that it had been steadily disabling the accounts of its U.S. customers. Now,…

China’s Gold-Backed Crypto Would Be Bearish for Bitcoin

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China launching a digital counterpart of the yuan backed by gold puts Bitcoin (BTC) at a disadvantage, veteran gold bug Peter Schiff claims. In a tweet on Nov. 2, Schiff, notorious for his cynicism when it comes to Bitcoin, attempted to counter criticism of his stance by Keiser report host, Max Keiser.  Schiff tells Keiser: gold backing beats BTC “According to @maxkeiser I’m an idiot because I think #gold is better money than #Bitcoin,” he wrote.  Schiff also repeated his oft-quoted idea that Bitcoin has no intrinsic value:  “He also…

The SEC Does Not Want Crypto ETFs — What Will It Take to Get Approval?

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October has been a busy month in the race to register the first crypto exchange-traded fund compliant with the requirements of United States regulators. Following the Chicago Board Options Exchange withdrawing its proposal for VanEck/SolidX Bitcoin ETF earlier in September, the ETF filing from Bitwise Asset Management and NYSE Arca was turned down by the Securities and Exchange Commission on Oct. 9. The regulatory authority remained unconvinced of the applicants’ ability to prevent manipulative practices to the extent required by a national securities exchange. For a brief moment, the only standing Bitcoin…

Researchers Claim Cross-border B2B Blockchain Transactions set to Explode to $4.4 Trillion by 2024

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A fresh report from Juniper Research claims the total value of B2B cross-border payments stored on the blockchain will exceed $4.4 trillion by 2024 – a massive increase from the mere $171 billion in 2019.  advertisement According to research author, Dr Morgane Kimmich: “The implementation of blockchain is part of a wider strategy for financial institutions to digitally transform operations. Blockchain will enable stakeholders to reduce operational costs in a competitive market that is becoming increasingly commoditised”. The new paid-for research, Blockchain: Key Vertical Opportunities, Trends & Challenges 2019-2030, estimates that…

Walmart Joins Ripple Partners MoneyGram & Ria to Offer Int. Payments

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In a press release yesterday supermarket Goliath Walmart announced international payments in collaboration with RippleNet partners Ria and MoneyGram. Walmart has a yearly revenue of half a trillion and was founded in 1969 by the Walton family, with nearly 12,000 in 27 countries under 55 different names. MoneyGram & Walmart have worked closely together for over two decades & have innovated to provide the world’s leading money transfer service for consumers in the United States. Walmart’s vision of creating a marketplace for financial services will benefit consumers through pricing &…