Day: November 12, 2019

Authorities Should Not Expect Crypto Firms to Stop Crypto Crimes

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John McAfee said that it is not the responsibility of cryptocurrency firms to help prevent crypto use in crime. McAfee delivered his remarks in an interview with Washington D.C.-based news agency The Hill on Nov. 11. McAfee argued that authorities should not require cryptocurrency companies and trading platforms to help them control digital currency use in illicit activities. McAfee said he hopes that the “societal impact of giving people freedom from an overburden and corrupted government” prevails over “what small part criminals are going to play in this technology.” He…

Canadian Bank Changes Bitcoin Tune, May Launch Cryptocurrency Exchange

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The Royal Bank of Canada (RBC) is exploring building a cryptocurrency trading platform for both investments and in-store/online purchases. This move would make the bank — the largest in Canada by market capitalization, with $661 billion CAD ($499 billion) in assets under management — the first in the country to launch a cryptocurrency exchange. The trading platform would facilitate the buying and selling of individual digital coins, including Bitcoin and Ether, as well as bundled crypto assets. RBC also plans to offer customers the ability to open accounts to safely…

Paxos Debuts Fiat Gateway With Binance Crypto Exchange as Its First Client

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Leading cryptocurrency exchange Binance became the first cryptocurrency exchange to implement the fiat gateway of stablecoin operator Paxos. On Nov. 12, Paxos announced the launch of its Fiat Gateway, a service that allows its users to swap between dollars and stablecoins on a one-to-one basis. A deepening collaboration While the service has been available to Paxos users since May, Binance has fully integrated it, making it available to all of its customers. Binance CEO Changpeng Zhao hinted that the two companies could deepen their collaboration further in the future: “The…

Bitcoin Mining IPO Could be the New Gold Rush

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Bitcoin mining giants Bitmain Technologies and Canaan Creative seem to have found a new area of competition — launching a U.S. IPO. Both companies are set to go head to head in trying to one-up the other in what could be the first-ever crypto-related public offering in the United States. Bitcoin Mining Giants Seek U.S. Market Many commentators have likened the crypto space to the Wild West and others have described bitcoin as digital gold. Now, Bitmain and Canaan Creative are figuratively spearheading a U.S. bitcoin mining rush akin to…

Huobi Chain Blockchain Completes Planned Open Source Developer Rollout

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Cryptocurrency exchange Huobi has open-sourced the development of its Huobi Chain blockchain, the company has confirmed. In a press release shared with Cointelegraph on Nov. 12, Huobi said that Huobi Chain, which it unveiled in June, was now available to any GitHub developer. Huobi encourages regulator involvement The aim, it explains, is further interaction between developers and regulators, Huobi Chain’s target audience. “Since the start of this project, our goal was to create an inclusive ecosystem where all stakeholders from developers to regulators can collaborate and leverage the full potential…

Facebook’s Head of Libra Crypto Project Is Optimistic about Bitcoin’s Future

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Since Facebook’s announcement about the development of its own cryptocurrency called Libra in June, the cryptocurrency industry has struggled with many obstacles regarding its launch next year. Consumers are hesitant about the social media giant taking over a financial venture, claiming that tech companies should be utilizing the given cryptocurrencies in the crypto market like Bitcoin(BTC)trade instead of creating their own centralized substitute. Some social media companies like Twitter are already doing this. David Marcus, Facebook’s head of the Libra cryptocurrency project, has drawn parallels between Bitcoin and gold. At…

CME Group Announces Launch Date of Options on Bitcoin Futures Product

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The Chicago Mercantile Exchange (CME) Group has announced the date it expects to launch options on Bitcoin (BTC) futures in a statement on Nov. 12. “In response to growing interest in cryptocurrencies and customer demand for tools to manage bitcoin exposure, CME Group will launch options on Bitcoin futures (BTC) on January 13, 2020,” the company revealed in the announcement. The CME Group said that the upcoming product is still pending regulatory approval. Contract specifications CME Group specified that one Bitcoin futures contract will represent 5 BTC quoted in U.S.…

Tunisian Central Bank Denies Reports of an ‘E-Dinar’ Digital Currency

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The Central Bank of Tunisia (BCT) has denied reports stating that the bank is developing a central bank digital currency (CBDC). An official announcement from the BCT follows apparently false reports that Tunisia was the first country to start moving its national currency to a blockchain platform and was preparing to launch its “e-dinar.” Central Bank of Tunisia is focused on the digitization of finance In the statement, the BCT refuted all claims regarding the development of a digital money solution. The Central bank clarified that it is now exploring…

CME Says It Will Launch Bitcoin Options in January

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Derivatives exchange CME Group has announced it will launch options on its bitcoin futures contracts in January. In a notice on its website on Tuesday, the Chicago-based exchange said, as long as it gets the green light from regulators, the options will go live on Jan. 13, 2020. In late October, the firm published details of the options product, saying each contract would be based on one of bitcoin futures contracts (comprising of five bitcoin). They will be quoted in U.S. dollars per bitcoin with a tick size of $25 (or…

Abra Adding 60 New Cryptocurrencies in Consumer Adoption Push: Report

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California-based cryptocurrency wallet and investment service Abra is adding a total of 60 new cryptocurrencies to its platform, reports suggest. According to CoinDesk on Nov. 12, the increasingly widespread payment gateway is planning to more than treble its existing crypto offerings for international users from 30 to 90 tokens. Four stablecoins to debut on Abra platform Four stablecoins including Tether (USDT), Paxos Standard (PAX), TrueUSD (TUSD) and Dai (DAI) will reportedly be among the new tokens. Restrictions remain for United States residents, who are unable to hold Qtum (QTUM), Bitcoin…