Online Cash Bitcoin Could Challenge Governments, Banks

Minimalist · Oct 13, 2019

2019 May Be the Year of Regulatory Response to Crypto: Ex-CFTC Chairman

Former Commodity Futures Trading Commission (CFTC) chairman Christopher Giancarlo, who had parted ways with the regulator this summer, has stated that he expects 2019 to be the year when regulators may start considering some response to cryptocurrencies.
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https://cointelegraph.com/news/2019...egulatory-response-to-crypto-ex-cftc-chairman

guest · Oct 14, 2019

Facebook-Led Libra Forms Governing Council After Big-Name Departures
October 14, 2019
https://www.coindesk.com/facebook-led-libra-forms-governing-council-after-big-name-departures

Twenty-one organizations have signed the Libra Association charter, days after a slew of high-profile defections from the cryptocurrency project started by Facebook.
The Libra Association also named its board of directors and formalized the consortium’s executive team following a meeting in Geneva, Switzerland.

The announcement comes following a number of major departures.
Still, the Libra Association said Monday that more than 1,500 entities have expressed interest in joining the project, with 180 meeting the organization’s membership criteria. A two-thirds vote by the 21 board members is required to actually add any new members.
It also remains unclear whether the team building Libra consists solely of Calibra employees, or whether individuals from other members of the association have joined in the effort.
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guest · Oct 15, 2019

6 Reasons To Start Accepting Cryptocurrency Payments
October 15, 2019
https://hackernoon.com/6-reasons-to-start-accepting-cryptocurrency-payments-dc5cf91af5ac

The world is undisputedly moving towards a digital ecosystem. Cryptocurrencies are a promising addition to that ecosystem providing unparalleled benefits to consumers and merchants. Digital currencies have become a hot topic in the past two years mostly due to the rise of Bitcoin.

However, there are still people who do not know much about virtual currencies. They are versatile, secure, and can be used for buying and selling of goods online. A lot of industries like travel, clothing, food, etc. have already started accepting crypto payments. Let’s see how accepting crypto payments can help your business grow and succeed.
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longshots · Oct 17, 2019

U.S. Authorities Cite Ability To Crack Bitcoin Privacy
https://www.gizmodo.com.au/2019/10/...rities-cite-ability-to-crack-bitcoin-privacy/

"authorities say they successfully unmasked those Bitcoin transactions in order to catch the perpetrators"
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guest · Oct 18, 2019

Alleged Las Vegas Scammer Charged for $11 Million Crypto Binary Options Ponzi
October 17, 2019
https://news.bitcoin.com/alleged-la...d-for-11-million-crypto-binary-options-ponzi/

The U.S. Commodity Futures Trading Commission (CFTC) has announced it has filed a civil enforcement action in the U.S. District Court for the District of Nevada, charging David Gilbert Saffron of Las Vegas as well as his company, Circle Society, Corp., with fraudulent solicitation, misappropriation, and registration violations.

According to the complaint, they solicited funds from at least fourteen investors to participate in a pool operated by Circle Society, an entity Saffron created for this purpose, by making false claims about his supposed trading expertise and guaranteeing rates of return up to 300%.
The CFTC found that instead of using the funds to trade in binary options contracts as promised, the assets were misappropriated, including by keeping pool participants’ money in Saffron’s personal cryptocurrency wallet and by using funds to pay other participants, which is a hallmark of a Ponzi scheme.
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guest · Oct 18, 2019

mood said: ↑

Messaging app Kik shuts down as company focuses on Kin, its cryptocurrency
September 24, 2019
https://techcrunch.com/2019/09/23/m...as-company-focuses-on-kin-its-cryptocurrency/
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Kik Messenger will live on after Kik sells it to focus on cryptocurrency
October 18, 2019
https://www.theverge.com/2019/10/18...ialab-kin-cryptocurrency-sec-whisper-datpliff

Last month, Kik announced that it would be shutting down the once-popular Kik Messenger app to focus on selling its Kin cryptocurrency, and fighting an SEC battle about the Kin cryptocurrency. But today, in a surprise, it was announced on the Kik blog that Kik Messenger will apparently live on, as it has been purchased by MediaLab, a holding company that owns companies like anonymous-messaging app Whisper and mixtape-sharing service DatPiff.

In the blog post, MediaLab committed to continuing to develop Kik Messenger, saying that it will spend “the next few months” on making the app “faster, more reliable, [and] less buggy.” However, MediaLab also said that, to help pay for the expenses of maintaining the messaging service, it will be introducing ads “over the coming weeks” in a “non-intrusive” way.

The Kin cryptocurrency will also still be part of the app in some way, as MediaLab said that it will “further partner” with the remaining Kik team on “expanding” Kin integration into the service.
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guest · Oct 19, 2019

Bitcoin 'Greatest Gift' to Mankind, Says Former Google Africa CEO
October 18, 2019
https://www.cryptoglobe.com/latest/...ift-to-mankind-says-former-google-africa-ceo/

Stafford Masie, general manager of WeWork South Africa and former chief of Google Africa, believes bitcoin, more than any other technology, has the ability to permanently change the world for the good.

Speaking at the SingularityU South Africa Summit this week, Masie said that bitcoin's ability to provide an exchange of value without the need of a centralized authority was the "greatest gift" to mankind. Reported by ITWeb, Masie said:

The third economy is an economy where people don’t have access to electronic forms of distributing value or cash [...] Think of the people who live two hours outside Shanghai, China’s central coast. They will use Bitcoin to trade and unlock international transactions outside of the existing frameworks in a manner that you and I cannot imagine.
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Minimalist · Oct 20, 2019

Blockchain Voting is Vulnerable to Hacking and Low-Quality Data: Research

Nir Kshetri, a professor of management at the University of North Carolina, has suggested that before blockchain-based voting can be considered safe and trustworthy, some major issues must be resolved.
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https://cointelegraph.com/news/bloc...able-to-hacking-and-low-quality-data-research

Minimalist · Oct 20, 2019

Crypto News From the German-Speaking World: Oct. 13–19 in Review

The German-speaking world has seen another week of events in the crypto industry, with a new survey revealing that 27% of Germans are interested in using Facebook’s planned Libra stablecoin, which has been discussed all over the world since its announcement in June 2019. Despite existing criticism of Libra, global regulators do not plan to ban either Facebook's crypto initiative or other stablecoin projects, the European Central Bank (ECB) director claimed earlier this week.
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https://cointelegraph.com/news/crypto-news-from-the-german-speaking-world-oct-1319-in-review

ronjor · Oct 20, 2019

Facebook open to currency-pegged stablecoins for Libra project

Andrea Shalal October 20, 2019
WASHINGTON (Reuters) - Facebook Inc (FB.O), facing growing skepticism about its digital currency project Libra, on Sunday said the initiative could use cryptocurrencies based on national currencies such as the dollar, instead of the synthetic one it initially proposed.
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guest · Oct 20, 2019

Oxford English Dictionary Recognizes Growing Adoption of Crypto by Adding ‘Satoshi’
October 20, 2019
https://www.cryptoglobe.com/latest/...growing-adoption-of-crypto-by-adding-satoshi/

The Oxford English Dictionary (OED), which calls itself "the definitive record of the English language", has added the word "satoshi" to its database.

The Oxford English Dictionary is published by Oxford University Press (OUP). The OED follows the development of the English language over the past thousand years, "providing a comprehensive resource to scholars and academic researchers, as well as describing usage in its many variations throughout the world."
According to a blog post by the OED about its latest quarterly update, "satoshi" (a word that was "first used less than seven years ago") was the most recent addition. Here is the official definition:

"The smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin."
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guest · Oct 21, 2019

Bitfinex Files for Subpoena in Bid to Recover $880 Million in Frozen Funds
October 21, 2019
https://www.coindesk.com/bitfinex-files-for-subpoena-in-bid-to-recover-880-million-in-frozen-funds

Bitfinex has applied to a U.S. court to subpoena a former banking executive of a trust company that the crypto exchange believes can help it recover over $850 million in frozen funds.

The exchange submitted a filing on Oct. 18 to a court in California for obtaining the permission to take the deposition testimony of Rondell “Rhon” Clyde Monroe, a former vice president of TCA Bancorp. It also seeks to obtain documentations of Monroe’s communication with Crypto Capital staffers.
Bitfinex alleges in the filing that Crypto Capital “has used one or more accounts held at TCA Bancorp to facilitate the transfer of funds” belonging to itself and believes Monroe has information and documents vital to their claims to over $850 million.
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ronjor · Oct 21, 2019

Opportunistic fraudsters use El Chapo’s son’s arrest in bid to steal Bitcoin

Story by Yessi Bello Perez 21 0ct 2019
Mexican officials have been forced to free Ovidio Guzman Lopez – the son of Mexican drug kingpin El Chapo whose real name is Joaquin Archivaldo Guzman Loera – from custody after cartel gunmen turned Sinaloa into an urban war zone.
Now, opportunistic scammers are seeking to capitalize on the incident by reportedly bombarding the city’s residents with threatening emails seeking payment in Bitcoin in exchange for staving off more violence, the New York Post reports.
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guest · Oct 21, 2019

Former NBA player allegedly swindles Ghanaian company $825,000 in Bitcoin scam
October 16, 2019
https://www.ghanaweb.com/GhanaHomeP...naian-company-825-000-in-Bitcoin-scam-789687#

A former NBA player has allegedly swindled a Ghanaian company to the tune of $825,000 under the guise of trading in Bitcoin new crypto currency auto-trading programme.

Isaac Edward Austin of IEA and Tudor Trust, said to have claimed to be a trustee for BTC trade transactions, is purported to have lured the Ghanaian company into signing the said contract on July 3, 2019, according to copies of documents available to mynewsgh.com.
An amount was subsequently transferred into his account at a strike price of $11,000 per BTC, amounting to $825,000. But till date, he has refused to make payment at the close of trading as was agreed.

One of his victims who narrated his ordeal to this portal with documents of revocation notice said: “He will take your BTC and you will never get your investment back or your returns. On the day of payment, he will tell you story after story filled with lies of issues why the BTC couldn’t be delivered on the day of payment. [...]"
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ronjor · Oct 22, 2019

Facebook CEO Mark Zuckerberg will tell Congress that embattled libra crypto project will ‘extend America’s financial leadership’

Salvador Rodriguez @sal19 22oct 2019
Facebook CEO Mark Zuckerberg intends to tell Congress that Facebook will not launch libra anywhere in the world unless all U.S. regulators approve it.
Zuckerberg will testify before the House Financial Services Committee on Wednesday.
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ronjor · Oct 24, 2019

US Financial Regulators Join UK FCA’s ‘Global Sandbox’

Danny Nelson Updated Oct 24, 2019
Four U.S. regulators joined the Global Financial Innovation Network, an international alliance of government regulators led by the UK’s Financial Conduct Authority seeking to bolster the future of fintech.
The Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have all signed onto the GFIN, an SEC spokesman confirmed to CoinDesk.
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guest · Oct 24, 2019

CEO of Crypto Capital arrested
October 24, 2019
https://www.fxstreet.com/cryptocurrencies/news/ceo-of-crypto-capital-arrested-201910242220

The CEO of Crypto Capital arrested for being a member of an international drug cartel and involved in its money-laundering operations using Bitfinex, according to the Polish press

Crypto Capital used to be a company to which Bitfinex allegedly entrusted USD 850 million, money the exchange said it was unable to access later. To cover the USD 850 million loss, the exchange conducted a USD 1 billion token sale in May.
I have a feeling this is not the end of the saga as Crypto Capital has worked with major cryptocurrency exchanges including Bitfinex, Binance, Kraken, and BitMEX.
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ronjor · Oct 25, 2019

Jack Dorsey: Bitcoin is becoming the Internet’s national currency

By Adriana Hamacher Oct 25, 2019
The Twitter CEO says “Hell, no” to Facebook’s Libra, but underlines his support of Bitcoin and other cryptocurrencies.
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guest · Oct 25, 2019

Bitfinex Denies Laundering, Says It’s a Victim of ‘Fraud’ by Crypto Capital
October 25, 2019
https://www.coindesk.com/bitfinex-denies-laundering-says-its-a-victim-of-fraud-by-crypto-capital

Bitfinex says it was conned.
The crypto exchange and sister company of Tether claimed Friday that it was the “victim of a fraud” at the hands of Crypto Capital, a payment processor that allegedly lost $880 million of Bitfinex’s money. Crypto Capital’s president, Ivan Manuel Molina Lee, was arrested Thursday by Polish police on charges of money laundering.

In a statement released Friday, Bitfinex said it will “make its position clear” to U.S. and Polish authorities and will continue to pursue the funds that Crypto Capital lost. According to the statement, Crypto Capital had misrepresented its “integrity, banking expertise, robust compliance programme and financial licences” to Bitfinex.

“We cannot speak about Crypto Capital’s other clients, but any suggestion that Crypto Capital laundered drug proceeds or any other illicit funds at the behest of Bitfinex or its customers is categorically false,” wrote Bitfinex general counsel Stuart Hoegner.
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guest · Oct 25, 2019

Finder claims number of crypto owners in America doubled in 2019
October 25, 2019
https://www.fxstreet.com/cryptocurr...wners-in-america-doubled-in-2019-201910252151

According to a news survey by Finder, an Australia-based financial services firm, the number of cryptocurrency owners in America has almost doubled in 2019. The percentage has increased from 7.95% in 2018 to 14.4%. After analyzing 2,068 Americans, Finder found out that around 36.5 million people own some form of crypto in the US.
61% of the respondents own crypto for investment purposes, only 29.3% confirmed that they use it for transaction purposes. Further, 25.6% of US people hold crypto as they want to deposit their money outside traditional financial institutions.

Venture capital firm Blockchain Capital had previously released a survey declaring that 11% of the American population owns Bitcoin. Another study claims that 32% of Europeans support Bitcoin and regard it as the future of online payments.
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Minimalist · Oct 26, 2019

Wrapped Crypto Tokens, Explained

A wrapped token is an asset hosted on the Ethereum blockchain with a price that is the same as another underlying asset, even if it’s not on the same blockchain or on a blockchain at all.
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https://cointelegraph.com/explained/wrapped-crypto-tokens-explained

Minimalist · Oct 26, 2019

What Will Move Crypto Into the Institutional Realm?

Facebook recently made its entry into the world of institutional blockchain and cryptocurrency with the announcement of Libra. It garnered so much attention that lawmakers in the United States are holding hearings to review the project. Walmart has been flirting with crypto and blockchain for years. At the time of writing, the top crypto exchange handles a volume of around $50 billion, and Bitcoin (BTC) is holding steady around $8,000.

This is clearly a new “mainstreaming” of crypto to the masses, but a growing number of major banks, hedge funds and family offices are also turning to digital assets to build out their traditional investment portfolios.
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https://cointelegraph.com/news/what-will-move-crypto-into-the-institutional-realm

Minimalist · Oct 27, 2019

Can Libra and Other Crypto Find a Ground to Navigate Regulation?

Bitcoin (BTC) and cryptocurrencies are causing some confusion for regulators globally. Designed usually as peer-to-peer payment platforms, cryptocurrencies seek to improve trust, security and privacy by significantly reducing or eliminating third parties. However, by connecting users directly, cryptocurrencies make regulatory oversight far more complex.
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https://cointelegraph.com/news/can-libra-and-other-crypto-find-a-ground-to-navigate-regulation

Minimalist · Oct 27, 2019

Crypto and Blockchain News From German-Speaking World: Oct. 20-26

The German-speaking world has seen an array of crypto and blockchain-related developments over the past week, with the Federal Ministry of Finance concluding that cryptocurrencies are hardly involved in money laundering and terrorist financing (TF), Bitwala integrating a feature for automatically generating cryptocurrency tax reports, and the Graz startup Lab10 Collective developing a more energy-efficient blockchain.
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https://cointelegraph.com/news/crypto-and-blockchain-news-from-german-speaking-world-oct-20-26

Minimalist · Oct 27, 2019

China passes cryptography law as gears up for digital currency

China’s largely rubber stamp parliament has passed a new law on cryptography as the country gears up to launch its own digital currency, state media reported late on Saturday.
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https://uk.reuters.com/article/uk-c...s-gears-up-for-digital-currency-idUKKBN1X600V

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