Day: December 26, 2019

Crypto Custodians Grapple With Germany’s New Rules

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Crypto firms in Germany are getting ready to exist under a new regime.  Under a law going into effect Jan. 1 requiring digital asset custodians to be licensed, each company that currently custodies crypto and targets German clients must announce to Germany’s Financial Supervisory Authority (BaFin) its intention to get a license before April 1 and submit an application before Nov. 1.   A clause allows current crypto custodians to keep serving German customers without being penalized if they declare their intent to apply, but those same companies are waiting on…

Crypto Custodians Grapple With Germany’s New Rules

boss

Crypto firms in Germany are getting ready to exist under a new regime.  Under a law going into effect Jan. 1 requiring digital asset custodians to be licensed, each company that currently custodies crypto and targets German clients must announce to Germany’s Financial Supervisory Authority (BaFin) its intention to get a license before April 1 and submit an application before Nov. 1.   A clause allows current crypto custodians to keep serving German customers without being penalized if they declare their intent to apply, but those same companies are waiting on…

Canaan’s New 5-Nanometer Chips to Escalate ASIC Arms Race With Bitmain

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Chinese mining application-specific integrated circuit (ASIC) manufacturer Canaan will launch new, improved mining machines with 5-nanometer chips in Q1 2020. Chinese industry news outlet 8BTC reported on Dec. 24 that the new ASICs will have significant advantages compared to the previous generation. The new firm’s 5nm manufacturing process is expected to improve performance, power and area scaling. A significant development The company expects to scale the production of this new product series faster than it did with its 7nm chips. The number of nanometers refers to the size of the…

Canaan’s New 5-Nanometer Chips to Escalate ASIC Arms Race With Bitmain

boss

Chinese mining application-specific integrated circuit (ASIC) manufacturer Canaan will launch new, improved mining machines with 5-nanometer chips in Q1 2020. Chinese industry news outlet 8BTC reported on Dec. 24 that the new ASICs will have significant advantages compared to the previous generation. The new firm’s 5nm manufacturing process is expected to improve performance, power and area scaling. A significant development The company expects to scale the production of this new product series faster than it did with its 7nm chips. The number of nanometers refers to the size of the…

The Bahamas Will Launch a Digital Currency Pilot Tomorrow

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The Bahamas’ digital currency pilot project goes live in Exuma on Friday. Residents of the island Exuma can enroll in the Central Bank of The Bahamas’ “Project Sand Dollar,” beginning December 27, 2019. They will receive mobile wallets that the Bahamamian government sees as facilitating the future of payments on the island chain. Central bankers announced the debut on Christmas Eve. Bankers insisted that “Sand Dollar” is a “digital fiat currency” –  not a cryptocurrency, stablecoin or competitor to the Bahamian Dollar. Instead, it is simply a digital version “equivalent…

Crypto Firms Can Now Apply for a License in France

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France’s top financial regulator has published new rules regarding the licensing of digital asset service providers (DASPs) as well as guidelines for applying for the non-mandatory license and informing the AMF about internal cybersecurity practices. The Autorité des marchés financiers (AMF) or Financial Markets Authority released the rules on Wednesday and the guidelines on Thursday last week, opening up the opportunity for firms to apply. The rules and guidelines expand upon France’s PACTE law, one of the first crypto legislative packages passed in Europe. PACTE passed in May, 2019. To…

MARKETS DAILY HOLIDAYS: HODL? – CoinDesk

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On today’s holiday episode of Markets Daily, we’ll define and demystify the blockchain term “ HODL” Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source

MARKETS DAILY HOLIDAYS: HODL? – CoinDesk

boss

On today’s holiday episode of Markets Daily, we’ll define and demystify the blockchain term “ HODL” Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source If You Liked This Article Click To Share CoindeskDailyHodlHolidaysMarkets CryptoX Portal

MetaMask Contributor Says Project Lacks Support From ConsenSys

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A contributor of major Ethereum browser extension Metamask has reported that the MetaMask team is “totally overwhelmed” and not being prioritized by its parent company ConsenSys. In a Dec. 25 Reddit post, Reddit user lazaridiscom3 alleges that the MetaMask team is not getting the support it needs from ConsenSys, and, consequently, the whole team of 24 employees is overwhelmed. Redditor says the Ethereum’s “critical value-moving piece” isn’t decentralized The post, titled “Help MetaMask out of its Activity-Trap,” goes on to say that the MetaMask team has a number of unsolved…

Russia’s Central Bank Is Now Testing Real Asset-Pegged Stablecoins

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The Bank of Russia, the country’s central bank, has reportedly started testing stablecoins pegged to real assets in a regulatory sandbox. Elvira Nabiullina, Russia’s central bank head, said that the bank doesn’t assume that those stablecoins will function as a means of payment or become a substitute for money, Russian news service Interfax reported on Dec. 25. Nabiullina noted that the Bank of Russia is exploring the potential uses of stablecoins — cryptocurrencies that are pegged to another asset to prevent the volatility associated with crypto markets. She said: “We…