Commissioner Hester Peirce gave remarks in which she expressed fears that the cryptocurrency industry has been hindered by the U.S. SEC. United States regulator and so-called “crypto mom” Hester Peirce gave remarks in which she expressed fears that the cryptocurrency industry has been hindered by the Securities and Exchange Commission (SEC) dragging its heels. Peirce spoke at the Securities Enforcement Forum in East Palo Alto, California on May 9. In her speech, Peirce stated that, given the rapid development of the digital currency industry, she worried that […]

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Ontario regulators and the CEO of blockchain firm NextBlock are seeking a public settlement over allegations of dishonest tactics to attract investment. The Ontario Securities Commission (OSC) along with blockchain corporation NextBlock Global Limited and its CEO Alex Tapscott, have filed for a public settlement hearing on May 9. Tapscott and NextBlock were previously accused by the OSC Staff of the Commission of misleading prospective investors during a funding round that reportedly “raised approximately $20 million from 113 accredited investors.” Investors were allegedly shown investor slide decks […]

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Binance experienced a “large scale” data breach this week — here is what is known so far. Binance, one of the world’s largest cryptocurrency exchanges, experienced a “large scale” data breach on May 7. The hackers reportedly stole around 7,000 Bitcoin (BTC), worth more than $40 million as of press time. As the platform explained via a public statement, the fraudsters had managed to steal users’ application programming interface (API) keys, two-factor authentication (2FA) codes and other information, which supposedly helped them to orchestrate the attack. Binance […]

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Joseph Lubin, founder of blockchain tech company ConsenSys, said that the situation with cryptocurrency trading platform Bitfinex will not likely get better. Joseph Lubin, founder of blockchain tech company ConsenSys, expressed his pessimism regarding the recent situation with cryptocurrency trading platform Bitfinex, Bloomberg reported on May 9. Speaking at the Fluidity Summit conference, Lubin said that “it seems like a really big mess that probably won’t get better. Tether is somewhat important to our ecosystem because it’s used by different institutions to effect more fluid trading.” Lubin […]

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The United States Financial Crimes Enforcement Network (FinCEN) has issued a new guide that contains its financial regulation policies concerning Decentralized Applications. The United States Financial Crimes Enforcement Network (FinCEN) has issued new guidance that contains its financial regulation policies concerning Decentralized Applications (DApps) on May 9. In the introduction to the guide, FinCEN notes the guide serves to clarify and provide examples to make compliance easier for entities whose activities fall under the purview of the Bank Secrecy Act (BSA). FinCEN defines Dapps as, “Decentralized (distributed) […]

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New Jersey-based crypto mining startup Honeyminer has made its mining app available for Macintosh computers. New Jersey-based cryptocurrency mining startup Honeyminer has made its mining app available on the Apple Macintosh operating system, the firm announced in a blog post on May 9. The Honeyminer app runs in the background, using the central processing unit (CPU) and graphics processing unit (GPU) of users’ computers for mining bitcoin (BTC). The startup claims to include app features such as mining while users’ computer is idle, an activity log with […]

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Ovestock’s blockchain subsidiary tZero has secured a $5 million investment from Chinese investment firm GSR Capital. Overstock’s blockchain subsidiary tZero has finally secured a $5 million investment from Chinese investment firm GSR Capital, Overstock announced on its latest earnings conference call on May  9. Following an investment in cash and marketable securities, Overstock evaluated tZero’s worth at $1 billion, which is $500 million less than the company initially projected in August 2018. The new funds represent around 2% of the originally projected investment of $404 million from […]

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PayPal CFO John Rainey said that the firm is not interested in getting involved in the cryptocurrency sector at the moment. The chief financial officer (CFO) of major payment system PayPal said that the firm is hesitant about getting involved in the cryptocurrency sector in an interview with Yahoo Finance on May 7. Speaking about the company’s future cryptocurrency plans, PayPal CFO John Rainey pointed out that the firm previously allowed its merchants to accept bitcoin (BTC) as a form of payment, but subsequently saw the instability […]

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