Day: November 26, 2019

Voyager Digital and Avant-Garde Join Forces to Offer Commission-Free Bitcoin Trading

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Canadian cryptocurrency asset broker, Voyager Digital, a licensed crypto-asset broker that provides investors with cutting-edge bitcoin (BTC) and altcoins trading solutions has formed a new partnership with Avant-Garde Trading Securities, a new broker-dealer launching in the first quarter of 2020. The new firm utilizes innovative technologies to help clients to easily navigate the complex crypto-markets, according to a press release, November 25, 2019. Expanding Crypto Service Offerings Voyager Digital and Avant-Garde Trading Securities have inked a partnership deal that would allow clients to trade bitcoin and other cryptoassets without being…

South Korea Progresses Bill to Provide Legal Foundation for Cryptocurrencies

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South Korea’s National Assembly is progressing a bill that will provide a legal basis for cryptocurrencies in the country. The bill categorizes virtual currencies as digital assets and intends to bring regulatory clarity and transparency to crypto markets in South Korea, English-language newspaper Korea JoongAng Daily reports on Nov. 27. According to the report, the bill was passed by the National Assembly’s national policy committee and still needs to be approved by the judiciary committee. If approved, the law would come into force in 2020, the report notes. All crypto…

Bitcoin ATM Firm Partners With Largest Shopping Mall Operator in US

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Miami-based Bitcoin (BTC) automatic teller machines (ATM) firm Bitstop has partnered with the largest shopping mall operator in the United States, Simon Malls, to install Bitcoin ATMs at several locations.  BitStop announced on Nov. 26 that the firm has already installed Bitcoin ATMs at five Simon Malls locations in California, Florida and Georgia. Bitstop co-founder and CEO Andrew Barnard said that the machines were installed ahead of the holiday season: “With the strategic timing of this new installation of Bitcoin ATMs at Simon Mall locations, customers can conveniently buy Bitcoin…

How to Earn and Spend Bitcoin on Black Friday 2019

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The in-browser Lolli app offers bitcoin rewards from brands like Sephora, Bloomingdale’s and Macy’s. By Cyber Monday (the first business day after Thanksgiving, when retailers encourage online shopping) the new rival Chrome extension StormShop will offer cash-back rewards in the form of ethereum-based stablecoin DAI. Simon Yu, CEO of StormX, the company behind StormShop, told CoinDesk that 5,000 people signed up for the app’s beta mailing list. Users will be able to cash out rewards in bitcoin, ether, DAI, or StormX’s native token. Source

Ripple-Backed Omni Rentals to Shut Down by Late 2019

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Updated 20:00 UTC, Nov. 26: This article has been updated to include comments from Omni Rentals that Cointelegraph received after initial publication. Omni Rentals, a $35 million-funded storage and rental startup backed by major crypto firm Ripple, is reportedly shutting down its operations. As Omni is expecting to close its platform by the end of 2019, about 10 of Omni’s engineers will be hired by major American crypto exchange and wallet service Coinbase, tech-focused publication TechCrunch reports Nov. 25. Omni had not made an official closure announcement at press time,…

US CFTC Obtains Over $1.3B in Administrative Penalties in 2019

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The United States Commodity Futures Trading Commission (CFTC) has obtained over $1.3 billion in administrative penalties in the fiscal year 2019, which included funds collected from cryptocurrency operators. According to the CFTC’s annual report for the 2019 financial year, the regulator obtained monetary relief in its enforcement actions — including in the form of civil monetary penalties, disgorgement, and restitution — totaling $1,321,046,710. The figure is 39% higher than that of the previous fiscal year. Notable crypto fraud cases While the CFTC did not specify the exact amount of regulatory…

BNY Mellon Officially Joins Blockchain-Based Marco Polo Network

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The Bank of New York Mellon (BNY Mellon) has joined blockchain software firm R3’s trade finance network, the Marco Polo Network. The American banking and financial services firm — which has over $1.9 trillion in assets under management — will conduct an evaluation program using the technology, Marco Polo announced Nov. 25. By joining Marco Polo, BNY Mellon intends to expand its technical expertise and explore how blockchain technology could be applied to its trade finance activities. The move is purportedly in line with BNY Mellon’s efforts to eliminate paper-based…

BRICS Nations Discuss Shared Crypto to Break Away From USD and SWIFT

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Brazil, Russia, India, China and South Africa, or the BRICS economic bloc, are engaging in discussions to issue cross-national digital money in order to reduce the dependence of their economies on the United States, as reported by Cointelegraph on Nov. 14. What will the new cryptocurrency look like, how does the BRICS group plan to use it and are there any existing projects underway that seek to achieve a similar goal of independence on such a high level?  BRICS and its problems BRICS is the largest geopolitical block of countries,…