June Weekly Recap 5 June 23th – June 30nd, 2020 Welcome to our 5th weekly recap for June. Overview      Crypto News Australians Can Now Pay for Bitcoin at the Post Office Australians can now pay for Bitcoin (BTC) at national post offices, thanks to a new collaboration with local cryptocurrency exchange, Bitcoin.com.au. Customers will now be able to pay for BTC at more than 3,500 Australian Post offices. EU Creating a Regulatory Regime for Cryptocurrencies The European Union’s Executive Vice President of the European Commission for An Economy that Works for People – said Europe had to seize the opportunity to become one of the main rule-makers for digital finance. The new regulatory regime for cryptocurrency will not only cover unregulated digital assets, but it will also consolidate and homogenize existing standards across the continent, Dombrovskis said. Bitcoins Could Be Stolen Using Lightning Network Attacks In a research paper, titled “Flood & Loot: A Systemic Attack On The Lightning Network,” researchers Jona Harris and Aviv Zohar, both ofContinue reading »

June Weekly Recap 4 June 16th – June 22nd, 2020 Welcome to our 4th weekly recap for June. Overview    Crypto News Number of Bitcoin ‘Whales’ Has Risen by 2% Since Halving As of Tuesday, the number of bitcoin whales, as represented by the tally of unique entities holding at least 1,000 coins, was 1,840. That’s nearly 2% up from the level of 1,811 observed on May 1, according to data from blockchain analytics firm Glassnode. The metric clocked a recent high of 1,844 on Monday, a level last seen in November 2017. Infosec Exec Urges US Lawmakers to Tighten Crypto Regs Over Pandemic-Driven Scams Tom Kellermann, head of cybersecurity strategy at publicly traded software company VMWare, told lawmakers that virtual currencies need stronger oversight. There has been an increase in the number of security breaches and thefts at digital currency exchanges, which cybercriminals used to launder stolen money, he said. Bitcoin’s Rise Driven by Institutional Trading, Says Research and Investor Sentiment This week the research firm the Tie tweetedContinue reading »

June Weekly Recap 3 June 9th – June 16th, 2020 Welcome to our 3rd weekly recap for June. Overview          Crypto News Coca-Cola Distributor Offers Bitcoin Payment Options for Aussie Vending Machines Coca-Cola Amatil, the Asia-Pacific bottling giant, has partnered with digital assets platform Centrapay to integrate bitcoin as a payment option from its vending machines across Australia and New Zealand. This means over 2,000 smart vending machines now accept cryptocurrency. Indian Government Reconsiders Banning Cryptocurrency The Indian government is reportedly reconsidering a plan to ban cryptocurrency and the finance ministry has initiated related inter-ministerial consultations. US Financial Services Committee Hearing Discussed the Creation of a ‘Digital Dollar’ At the virtual hearing with members of the DDF, Congress, and leaders from the Electronic Transactions Association, the group listened to a number of speakers. Speaking with the financial columnist, Rachel McIntosh, Christopher Giancarlo told the publication “the purpose of the hearing,” which includes “inclusive banking during a pandemic: using FedAccounts and Digital Tools to improve Delivery of StimulusContinue reading »

June Weekly Recap 2 June 1st – June 8th, 2020 Welcome to our 2nd weekly recap for June. Overview          Crypto News Swiss Banks Launch Cryptocurrency Trading and Custody After Gaining Regulatory Approval The Swiss Financial Market Supervisory Authority (FINMA) recently approved two banks — Maerki Baumann and Incore Bank — to offer several cryptocurrency services on Friday. India to Significantly Increase Crypto Market Share The Indian cryptocurrency market is poised to gain considerable global market share starting this year, according to a report published last week by Coinpaprika, a cryptocurrency research platform, and Okex, a global cryptocurrency exchange. US Regulators Target Bitcoin ATMs Bitcoin automated teller machines (BATMs) will become the next target for regulators, as world governments tighten screws on money laundering. According to Ciphertrace CTO John Jeffries, crypto-cash machines will attract “greater…regulatory focus” in a bid to rein-in alleged cross-border illicit financial transfers. Japanese Finance Minister Shoots Down Plan to Cut Bitcoin Tax to 20% Japan’s finance minister Taro Aso says he is opposedContinue reading »

June Weekly Recap 1 May 26th – June 1st, 2020 Welcome to our 1st weekly recap for June. Overview        Crypto News South Korea Is Exploring New Crypto Tax Laws South Korea’s Ministry of Economy and Finance is preparing an amendment to apply to the nation’s Income Tax Law. This could include rules for profitable sales of cryptocurrencies as well as profits from national crypto mining projects. Grayscale Bitcoin Trust Buys Over 1.5 Times Total BTC Mined Since Halving Grayscale Bitcoin Trust (GBTC) has been racking up the number of BTC it has purchased since the third Bitcoin halving. During the two-week period, Grayscale Investments bought a total of 18,910.47949263 bitcoins. China Passes Law Protecting Cryptocurrency Inheritance The third session of the 13th National People’s Congress (NPC), China’s top legislature, voted on and passed the “Civil Code of the People’s Republic of China” on Thursday. In addition to general and supplementary provisions, the civil code ”includes six parts on real rights, contracts, personality rights, marriage and family, inheritance,Continue reading »

May Weekly Recap 4 May 19th – May 25th, 2020 Welcome to our 4th weekly recap for May. Overview      Crypto News Litecoin Fdn. Partners With Videogame Maker Atari The Litecoin Foundation has announced a partnership with the legendary videogame company of Atari. LTC will now be accepted as a means of investing in the Atari token, to be issued in September 2020, and as a payment option for purchasing the new Atari VCS gaming console. Albania Approves Europe’s Most Comprehensive Crypto Law Yet Albania’s Parliament signed a bill into law on May 21 plenary session a legal framework for cryptocurrencies. The legislation looks to regulate the conditions for licensing all crypto activities in the country. Beyond digital tokens, the law looks to monitor all infrastructure where DLT technology operates. Chinese Government Advisers Propose Regional Stablecoin for 4 Asian Countries: The proposal unveiled Thursday describes the currencies as a “stablecoin”. The basket of underlying collateral would follow the special drawing rights (SDR) model of the International Monetary Fund (IMF),Continue reading »

May Weekly Recap 3 May 12th – May 18th, 2020 Welcome to our 3rd weekly recap for May. Overview      Crypto News STABLECOIN SUPPLY BREAKS $10B The value of assets for all stablecoins surpassed $10b on Tuesday, having surged by over 70% in just two months, according to Coin Metrics. Most of the stable coin growth comes from tether, which represents almost 90% of the total stable coin supply. The largest tether markets measured by traded volume are supported by two Asia-based exchanges, Binance and Huobi. $2B CRYPTO HEDGE FUND INDUSTRY SET TO GROW SIGNIFICANTLY Cryptocurrency hedge funds’ assets under management more than doubled in 2019, according to a new survey by PWC and Elwood Asset Management Services Ltd. The data comes from “the largest global crypto hedge funds by assets under management (AUM). CANADIAN FIRM REPORTS BTC MINED IN Q1 DECLINED 54% For the three months to March 31, 2020, the Canadian bitcoin firm, Hut 8 Mining, said it mined 1,116 BTC, down 54% from the 2,405 BTC a yearContinue reading »

May Weekly Recap 2 May 5th – May 11th, 2020 Welcome to our 2nd weekly recap for May. Overview      Crypto News IRAN LICENSES CRYPTO MINING ENTERPRISE Iran has issued a bitcoin mining license to Iminer, a Turkish-based company. Iminer will operate up to 6,000 rigs, with a computing power of 96,000 terahash per second (TH/s) in total. According to reports, the miner has spent $7.3 million setting up the mining facility, located in Iran’s central city of Semnan. BITCOIN ATM NUMBER SURGES The number of bitcoin ATM locations has been growing rapidly amid nationwide lockdowns and the coronavirus crisis. With hundreds of new machines added each month, there are now more than 7,700 bitcoin ATMs spread all over the world. NEW CRYPTOCURRENCY EXCHANGE LAUNCHES IN INDIA The Indian cryptocurrency industry has been growing rapidly despite the nationwide lockdown and the coronavirus crisis. Two new cryptocurrency trading platforms are launching in India while existing crypto businesses seek clarification from the central bank, the Reserve Bank of India (RBI). CHINESEContinue reading »

May Weekly Recap 1 April 28th – May 4th, 2020 Welcome to our 1st weekly recap for May. Overview      Crypto News GOLD PRICE SURPASSES $1,700 AS CENTRAL BANKS EXPAND STIMULUS The spot price of gold surpassed the $1,700 mark after dipping more than 1% on Tuesday. The rise comes as central banks announced plans to expand monetary stimulus and jobless rates soar. BITCOIN OUTPERFORMS S&P500 Bitcoin is now outperforming the S&P 500 for the first time since the market crash in March and the equities sell-off that started in February. In a big 24-hour move, BTC crossed $8,000 and is currently trading at $8,592, up 10.5% at the time of writing. The S&P 500 is up 2.9% at 2,946. FEDERAL RESERVE CHAIR SAYS “WE WILL NOT RUN OUT OF MONEY” On Thursday, Federal Reserve Chair Jerome H. Powell explained what the central bank of the U.S. is currently doing and what it is prepared to do in the future to help the U.S. economy fight the economic impact of the COVID-19 pandemic.Continue reading »

April Weekly Recap 4 April 21th – April 27th, 2020 Welcome to our 4th weekly recap for April. Overview      Crypto News TETHER MINTS $600M THIS MONTH Tether mints an additional $120,000,000 in USDT tokens Tuesday morning. This comes after Tether minted $480,000,000 last week, bringing the months total to $600,000,000. Tether has minted more tokens this month than the entire market cap of Ethereum Classic. Tether CTO, Paolo Ardoino claims that these new tokens are for “inventory replenishment” and will be used for future demand. BINANCE LAUNCHES CRYPTO PAYMENT APP IN AFRICA Binance said its social payments app Bundle would provide users across Africa with a fee-free means to store and transact in both cash and cryptocurrencies, through a new digital wallet that can be downloaded on their phones. BITTREX EXTENDS GLOBAL VISA/CREDIT Bittrex Exchange announced its significant global extension of Visa support accross 125 countries on April 20. In addition to making fiat deposits and trading directly using their Visa cards, users can now access further features suchContinue reading »