Monthly Archives: August 2019

Unconfirmed: Eight Institutions to Get China’s Digital Currency First

Eight institutions will reportedly receive the first installment of China’s upcoming central bank-issued digital currency, including Alibaba and Tencent. According to sources, the People’s Bank of China is giving its first round of central bank digital currency (CBDC) to online retail giant Alibaba, Internet giant Tencent, five banking organizations and one unknown entity. The first beneficiaries Forbes reported the news on Aug. 27. The sources named are Paul Schulte, who previously worked as head of the China Construction Bank, and an anonymous individual identified as part of […]

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US SEC Chairman Says the Rules Won’t Change for Cryptocurrencies

The chairman of the US SEC says he is for technological solutions that reduce the cost of international payments, but the SEC won’t change the law to facilitate them. United States Securities and Exchange Commission (SEC) Chairman Jay Clayton says he won’t make exceptions in securities law for cryptocurrencies, but he won’t stand in their way either. SEC rule changes ‘ain’t happening’ Bloomberg published an interview with Jay Clayton on Aug. 27. According to Clayton, he has no desire to change securities laws, either to include or […]

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Brave Browser Announces Development of Crypto Wallet for ETH and BAT

Blockchain-based web browser Brave has announced work on a crypto wallet, but it does not yet support any direct interaction with tokens earned via Brave Rewards. Blockchain-based web browser Brave has unveiled a cryptocurrency wallet for Ethereum tokens that is currently in development. Incompatible with Brave Rewards Brave discussed their work so far in a blog post on Aug. 27. According to the announcement, the in-browser wallet supports Brave’s native ERC-20 Basic Attention Token (BAT), alongside other Ethereum-based tokens and collectibles and Ether (ETH) itself. Additionally, the […]

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Gemini Joins Silvergate Exchange Network for 24/7 Fiat Money Transfers

Winklevoss’ crypto exchange and custodial service Gemini has joined the Silvergate Exchange Network to provide clients with real-time, automatic fiat transfers. Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is joining crypto-friendly bank Silvergate’s Silvergate Exchange Network (SEN) to speed fiat transfers. Real-time fiat money transfers Gemini announced the move in an official blog post on Aug. 27. According to the announcement, the main benefit of the exchange’s partnership with Silvergate is that Gemini’s institutional investor clients can withdraw and deposit United States dollars from their […]

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Switzerland Approves Bitcoin Banks – But With Strict Conditions Attached

One of the major problems for businesses in the cryptocurrency industry is finding a bank that agrees to work with them and connect them to the traditional fiat financial system. The financial regulator in Switzerland has just made this easier by licensing two companies to serve as tailored banks for the industry and further open up the market to institutional investors, albeit under very strict AML regulations. Also Read: Immortality, Cryogenics and UBI: How The Crypto Rich Influence Science Swiss Regulator Gives Green Light to Bitcoin Banks […]

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Chainalysis Executive: Transparency and Analytics Build Trust in Crypto

Transparency builds trust in cryptocurrency and dispels ‘wild west’ image, according to Jesse Spiro, global head of policy at blockchain analytics firm Chainalysis. Jesse Spiro, global head of policy at blockchain analytics firm Chainalysis, has said that he believes that transparency builds trust in crypto. Speaking with Cointelegraph, Spiro addressed widespread concerns that blockchain analytics negatively affect Bitcoin’s (BTC) fungibility and explained why he believes that transparency builds trust in crypto. When he was asked what he believes would be the impact of blacklisting Bitcoin addresses on […]

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Cryptocurrency Mining Firm Argo Blockchain Increases its Hashrate

Argo Blockchain, a cryptocurrency mining firm, pushes aggressively to increment its hashrate. Cryptocurrency mining firm Argo Blockchain is reportedly increasing its hashrate as the company’s stock price soars. An aggressively expanding mining firm United Kingdom-based business news outlet ProactiveInvestors reported on Aug. 27 that crypto mining company Argo Blockchain is expanding its mining capabilities after its stock price registered a sharp increase in the past months. Per the report, the firm owns 7,025 machines that it mostly uses to mine Bitcoin (BTC), but it has already ordered […]

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Swiss Central Bank SNB Is in Close Contact With Facebook’s Libra

The vice-chairman of Swiss National Bank says that Libra’s documentation is vague and still missing some details. Switzerland’s central bank, Swiss National Bank (SNB) is in close contact with the relevant authorities over Facebook’s Geneva-based crypto project Libra. The news comes from SNB vice-chairman Fritz Zurbruegg via a Reuters report from Aug. 27.  Libra documentation still lack some details Zurbruegg said that it is still difficult to analyze the Libra project fully, citing the vague character of available documentation. He added that some details are still missing […]

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Crypto Custody Market Overview — Who Are the Biggest Players?

Crypto custody solutions are on the rise, and Coinbase appears to be taking over the market — who else is chasing the number one spot? Cryptocurrency custody providers seem to be springing up all over the global digital landscape in 2019, and the crypto platform Coinbase emerging as the leader in the sector. At their very core, custody platforms are designed to serve as independent storage/security units that are aimed primarily at institutional investors. These solutions, more often than not, tend to make use of a combination […]

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HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

Global banking giant HSBC becomes the first bank to finance a transaction on European blockchain trade platform we.trade. Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade. Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22. The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, […]

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