Day: July 29, 2020

Power Plants in Iran Now Authorized to Mine Bitcoin

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Power plants in Iran are allowed to mine cryptocurrencies, the deputy head of the country’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly confirmed. Mostafa Rajabi Mashhadi, deputy head of Tavanir, explained that entities have to apply for the necessary licenses from the Ministry of Industry, Mine and Trade, and comply with the tariffs set for crypto mining. He told IRNA publication on Monday: The power plants must submit their requests, and follow the approved tariff set for cryptocurrency mining centers. Miners have been setting up operations in Iran…

Power Plants in Iran Are Authorized to Mine Bitcoin

boss

Power plants in Iran are allowed to mine cryptocurrencies, the deputy head of the country’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly confirmed. Mostafa Rajabi Mashhadi, deputy head of Tavanir, explained that entities have to apply for the necessary licenses from the Ministry of Industry, Mine and Trade, and comply with the tariffs set for crypto mining. He told IRNA publication on Monday: The power plants must submit their requests, and follow the approved tariff set for cryptocurrency mining centers. Miners have been setting up operations in Iran…

Amazon, Apple, Facebook, Google to Face Congress on Antitrust Issues

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After the antitrust hearing was postponed to pay respect to the late Rep. John Lewis, D-Ga, the four U.S. big tech CEOs are expected to be grilled by Congress today. On Wednesday, July 29, the four largest U.S. tech companies by market capitalization will face Congress regarding the antitrust issues. The four CEOs that will be grilled by Congress are Mark Zuckerberg (Facebook), Sundar Pichai (Google), Tim Cook (Apple) and Jeff Bezos (Amazon). It will be the first time the four CEOs will be put together on a stage by the…

LocalBitcoins Deploys Elliptic’s Blockchain-Powered Tracking Tools for Enhanced Surveillance

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Leading peer to peer (P2P) Bitcoin trading platform LocalBitcoins has partnered with Elliptic, a global provider of crypto asset risk management solutions, to tame the headache of its illegal usage through blockchain-enabled monitoring tools. Elliptic has had a reputation for offering crypto compliance solutions to enterprise crypto-financial institutions and businesses.  Screening crypto transactions Through the strategic collaboration, Finland-based LocalBitcoins will comply with regulations, such as know-your-customer (KYC) and the European Union’s Fifth Money Laundering Directive (5AMLD). The P2P platform will use Elliptic Lens and Elliptic Navigator to screen crypto wallets…

How the EEA Made Ethereum Palatable to Big Business

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Ethereum has attracted the attention of large companies for almost as long as it has been around. But it wasn’t until early 2017 that a formal business-focused consortium came into being: the Enterprise Ethereum Alliance (EEA). The EEA created a concerted effort to get large corporates and tech providers on the same page when implementing private (or “permissioned”) versions of Ethereum technology. Thereafter, the EEA became a kind of standards organization for blockchain business, with one eye on a future state when the public blockchain might morph together with private…

Analyst Who Predicted Bitcoin’s 2018 Bottom Thinks $12k Is Imminent

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Bitcoin has faced a rather strong correction after its explosion to the $11,500 highs. At the recent lows, the asset traded as low as $10,600 — around 8% below the local highs. Despite the retracement and the fact that BTC remains below $11,000, analysts remain bullish on Bitcoin. One historically accurate trader, for instance, just said that he thinks BTC could soon move higher to $12,000. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold Bitcoin, DeFi Still in Vogue Analyst Expects $12,000 As Bitcoin Coils Above Crucial Support…

New South Wales Treasury Proposes Flexible Regulatory Reform For Blockchain

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The Australian state of New South Wales is exploring a “flexible” regulatory reform for blockchain and other emerging technologies in the state.   The proposed blockchain regulation reform is being pushed by New South Wales’ Department of Treasury and the proposals were published in a research paper released by the department on Tuesday, July 28.   As described in the research paper, the rising global traction blockchain and digital currencies are gaining has necessitated the need to revise New South Wales regulations in order to be well-positioned to accommodate the…

Monex’s US Subsidiary TradeStation to Launch Crypto Lending Service

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United States-based TradeStation, a subsidiary of Japanese firm Monex Group, is planning to launch a crypto lending service. The plan was announced in Monex’s earning report published on July 29. Called “Crypto Earn” the new lending service is “C2B2B” that lends institutions borrowed assets from clients.  Last November, TradeStation launched a cryptocurrency brokerage platform via a newly-launched offshoot called TradeStation Crypto. They initially supported Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC) and Ripple (XRP).  TradeStation launched its app this month and currently, crypto trading is available in 40…

Aave Ascends Market Rankings as Flash Loans Explode

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Decentralized finance (DeFi) loan protocol Aave has seen an explosion in the number of flash loans issued — with the daily value of said loans growing more than 1,000% since the start of July from $11 million to more than $130 million as of July 27. The record loan issuance has seen Aave ascend to rank as the fourth-largest DeFi protocol by locked funds, with nearly $392.9 million in capital currently tied to the project, according to DeFi Pulse. The value of Aave’s LEND token has also exploded by nearly…

V Stock Falls 1.65%, Visa Q3 2020, Earnings Top Exptctations

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Visa reported Q3 earnings and revenue that fell sharply as the coronavirus pandemic led to a global recession, plunging consumer spending. V stock is down. American multinational financial services corporation Visa Inc (NYSE: V) stated that its non-adjusted (GAAP) net income for Q3 2020 stood at $2.4 billion or $1.07 per share while the non-GAAP net income was $2.3 billion or $1.06 per share. The net revenue of Visa in Q3 stood at $4.8 billion that represents a fall of 17%. Visa stock fell by 1.65% after a report in…