Monthly Archives: April 2018

Reserve Bank of India Considers Central Bank-Issued Digital Currency

The Reserve Bank of India is analyzing the feasibility of launching its own central bank-issued digital currency. The Reserve Bank of India (RBI) has announced that it is looking into issuing its own central bank digital currency (CBDC), after a meeting of the Monetary Policy Committee (MPC), according to a Statement on Developmental and Regulatory Policies released Thursday, April 5. RBI has established an inter-departmental group to investigate the potential advantages and feasibility of its CBDC, which will submit its findings in a report in June 2018, […]

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Spain’s Tax Regulator Sends User Data Requests To 60 Crypto-Related Companies

Spain’s tax regulator has asked 60 crypto-related businesses for customer data and business info The Spanish Tax Agency (AEAT) has sent information requests for customer data to 60 companies associated with cryptocurrencies, including financial firms, intermediaries like crypto exchanges and ATMs, and companies that accept crypto as a payment option, local news outlet El Economista reported yesterday, April 5. El Economista notes that the AEAT has already begun an examination of the crypto markets in order to develop a potential regulatory framework. As part of a National […]

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SEC Files Complaint Against Crypto-Affiliated Longfin For Insider Trading

The SEC charges Longfin Corp. with insider trading and securities fraud, seizing $27 mln in trading profits raised after the company publicized a Blockchain business acquisition. The U.S. Securities and Exchange Commission (SEC) has charged trade finance group LongFin Corp. and its CEO, Venkata Meenavalli, with securities fraud, and frozen over $27 mln raised in “illicit trading profits,” according to an SEC Press Release published today, April 6. The SEC filed its lawsuit in the federal court of Manhattan, accusing Meenavalli of insider trading for selling “over two […]

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First Lightning Network Wallet App Now Available via Google Play

The Lightning Network’s first mobile app for Bitcoin’s mainnet is now available through Google Play. Known as the Eclair Wallet, the app was released on April 4, 2018, via French technology startup ACINQ, and is being offered specifically to Android users. Devices employing software version 5.0 or higher can send Lightning payments, which require significantly lower fees than the standard Bitcoin network. Transactions also happen much faster compared to on-chain confirmations. Describing the new product on GitHub, ACINQ wrote: “The Eclair Wallet is a next-generation, Lightning-ready Bitcoin […]

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India: Crypto ‘Scamsters’ Bhardwaj Brothers Arrested For Duping Investors Out Of $300 Mln

Infamous Bitcoin evangelist Amit Bhardwaj and his brother were arrested by Indian authorities on charges of scamming investors of $300 mln. Indian Bitcoin (BTC) entrepreneurs and notorious alleged scammers Amit Bhardwaj and his brother, Vivek Bharadwaj, were arrested on April 4,  accused of scamming about 8,000 investors out of ₹2,000 crores (about $300 mln) Business Insider India reported today, April 6. The brothers launched and ran a number of crypto-based ventures, including India’s first Bitcoin mining platform GBMiners. The move to arrest then was carried out by […]

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Bitcoin Prices Plunge To Lows Of $6800 After The RBI Ban

New Delhi, India. The Prices of Bitcoin have hit new lows after the Reserve Bank of India banned all its regulated financial institutions from participating in Cryptocurrency trade. In a statement to the local and international media, BP Kanungo, the RBI deputy Governor emphasized on the disadvantages of Cryptocurrencies which he attributed to the ban. This action is related mainly to the Arun Jaitley, India’s Finance Minister’s, statement that warned Indians about Cryptocurrencies and cautioned everyone that they are neither units of value nor the legal tender. […]

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America’s Pilot Healthcare Blockchain for Summer 2018

America’s largest health insurance providers, Humana and United Health Group, are collaborating on a program that will witness the creation of a Blockchain platform for Health Insurance Data management. In a sparingly publicized presser, the program teams confirmed that they will be sharing, time and resources in a bid to put together a Blockchain technology that will address the Insurance market inefficiencies: The Policyholders and Healthcare providers withhold vital data from the Insurers leading to coverage of uninsurable interests and consequential fraudulent claims. Other entities that will […]

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South Africans Instructed to Pay Tax on Bitcoin and Cryptocurrency Earnings

South Africa has joined a growing list of countries that expect citizens to pay income tax on their cryptocurrency earnings. The South African Revenue Service (SARS) released a statement today, April 6, 2018, making it clear that, even though the country does not consider cryptocurrencies legal tender, you still have to pay taxes on the gains. That means that anyone who is paid for goods or services in bitcoin must declare that just as they would ordinary income. Also, traders who make money buying cryptocurrencies at a […]

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Help Wanted! Japan Needs Crypto Engineers

The half billion dollar Coincheck exchange hack is still working its way through the ecosystem, carrying implications of all sorts. Rarely mentioned is how, at least in part, the exchange’s problems were due to a lack of crypto engineers in Japan. A dearth of engineering know-how is a perfect recipe for security gaps to be exploited.   Also read: India Searches for Ethereum Over Bitcoin Japan Needs Crypto Engineers Shortly after the hack was discovered, Coincheck’s Koichiro Wada explained,“We were aware we didn’t have enough people working on […]

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SEC Freezes $27 Million in Stock Trades From Blockchain Company Longfin

On April 6, 2018, the United States Securities and Exchange Commission obtained a court order to freeze $27 million in stock trades from Longfin Corp., a publicly traded blockchain technology company. According to the SEC’s official statement, the company’s CEO and three other affiliates are under investigation for the illegal distribution and sale of restricted Longfin Corp. shares. Founded in December of 2017, the company went public with an IPO on the Nasdaq stock exchange on the 13th of the same month. After acquiring Ziddu.com, a blockchain […]

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