Major Philippines Bank Union Bank Launches Two-Way Crypto ATM: Report

Major Philippines bank Union Bank is launching the country’s first two-way cryptocurrency ATM, local media outlet Philstar reported Feb. 6. The move will reportedly let customers buy and sell cryptocurrencies for cash via the ATM as part of the bank’s “sandbox” — a framework for conducting experiments in a controlled environment. The report did not specify which digital currencies will be supported in the experiment. According to Philstar, the system complies with current regulations and is the result of a collaboration between Union Bank and the country’s central bank, Bangko…

Report: Philippines-Based Banking Giant Launching Two-Way Crypto ATMs

When you think of nations with a notable Bitcoin ecosystem, many crypto investors would immediately think of the U.S., Malta, Singapore, Japan, and South Korea. Yet, many draw little attention to the Philippines, a nation that is seemingly filled to the brim with cryptocurrency users. A large financial institution based in the Philippines made a notable pro-crypto move last week — one that could potentially spark widespread adoption within the Asian nation. Meet Union Bank’s Crypto ATMs According to reports from Filipino media, Union Bank of the Philippines, a banking giant that is…

NZ Police Report Says ‘Excellent Progress’ Being Made in Cryptopia Hack Investigation

Police in New Zealand are working with international law enforcement to track down hackers who reportedly stole over $16.1 million from local exchange Cryptopia, the police reported in a press release Feb. 7. Cryptopia, which suffered an attack beginning Jan. 15 and lasting around two weeks, has lost funds from tens of thousands of Ethereum (ETH) wallets. After confirming they were investigating the case Jan. 16, police revealed today that they are coordinating an international effort to track both the funds and perpetrators, in a report attributed to Detective Inspector…

Market Overly-Focused on Ethereum’s Constantinople Hard Fork, Says Report

The market was too focused on the Ethereum’s (ETH) Constantinople and Serenity (Ethereum 2.0) hard forks, overshadowing more important upgrades, according to a recent report by cryptoassets trading firm Cumberland Research shared with Cointelegraph. The Constantinople hard fork is an update to the ETH network, which encloses separate Ethereum Improvement Proposals (EIPs) in order to pave the way to the Ethereum 2.0, which is planned to be the system’s final upgrade. Ethereum 2.0 will switch the ETH network from the current proof-of-work (PoW) consensus algorithm to the more energy efficient…

New Report Highlights Increasing Decentralization of Bitcoin Mining

Bitcoin (BTC) mining has become more decentralized and continues to diversify, a new report from Canadian wealth management company Canaccord claimed on Feb. 6. Canaccord, which tracks the blockchain and digital currency sectors along with its other financial operations, highlighted the increasingly wide distribution of Bitcoin’s hash rate over the past five years. This, the report says, represents a competitive marketplace which in turn makes the largest cryptocurrency less vulnerable to attack. Multiple mining pools currently contribute to Bitcoin network transaction processing, with that number increasing significantly since 2014. According…

Indian Gov’t Committee Is Worried About Crypto’s Impact on Rupee’s Stability: Report

An Indian governmental committee is concerned by the impact that cryptocurrency could have on the rupee, if it is allowed to be used for payments, according to a report published by Quartz on Feb. 4. The article refers to government panel led by Indian Economic Affairs Secretary and former Executive Director at the World Bank, Subhash Chandra Garg, which was reportedly set up in November 2017. An anonymous source active in the crypto industry — and who reportedly recently met with the committee — is quoted by Quartz as saying:…

Markets Quiet as Most Major Coins Report Small Gains, Bitcoin Hangs Below $3,500

Feb. 1 — Markets are relatively quiet, as major coins are trading sideways, with most seeing small gains over the 24-hour period. Market visualization from Coin360 The top cryptocurrency Bitcoin (BTC) is hovering below the $3,500 mark, trading at $3,492 at press time. The coin is up by .71 percent on the day and is still down by 2.85 percent on its weekly chart. Yesterday, the Chicago Board Options Exchange’s (CBOE) re-submitted its application with the United States Securities and Exchange Commission (SEC) to list a Bitcoin exchange-traded fund (ETF).…

Self-Serving World Gold Council Report Lambasts Crypto in Missing the Point Fallacy

Self-Serving World Gold Council Report Lambasts Crypto in Missing the Point Fallacy February 1, 2019 by Paul de Havilland The World Gold Council has presented a scathing–and self-serving–criticism of cryptocurrencies. “The Authority on Gold” argues there are a number of reasons cryptos are no replacement for gold. But they’re missing a crucial point: cryptos were not created to become a substitute for gold. Also read: Lightning Network Goes to Congress as Specter of Crypto Policy Grows Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts The Differences Between…

CookieMiner Malware Tries to Hack Mac Users’ Cryptocurrency Exchange Accounts, Report

A new form of malware steals cookies from cryptocurrency exchanges and other data in an attempt to hack user accounts, cybersecurity research team Palo Alto Networks reported on Jan. 31. CookieMiner, a progression of OSX.DarthMiner, is a malware targets Mac users, stealing saved Google Chrome passwords, iPhone SMS messages and iTunes backups on tethered machines and more. Along with the cookies, the goal of the malware is to gain access to cryptocurrency exchange accounts. According to Palo Alto, the hackers assume a combination of the stolen data would allow them…

Coincheck Q3 Finance Report Shows Twofold Improvement Since Trading Resumed

Japanese online broker Monex Group — owner of previously hacked cryptocurrency exchange Coincheck — released its financial report on Q3 for the 2019 fiscal year on Jan. 31. The report shows that the trading platform halved its losses in Q3, as compared with the preceding quarter. The results of the report cover the third quarter ending March 31, 2019. They indicate that Monex’s crypto asset segment — comprised of Coincheck, which was acquired by Monex in April 2018 — reported an overall loss of 300 million yen (~$2.76 million ).…