About Author:
1 Confirmation with Jeff and Dave
A graduate of English, I stumbled on cryptocurrency while trying to proofread an article for a friend back in 2011, and since then, I have been hooked! I play word games when I am less busy (I'm a pro by the way) and I am a tennis aficionado.
Bitcoin mining giant, Bitmain Technologies, is in the news again for something negative. This time around, there are reports that the bitcoin mining company is involved with a crypto Ponzi scheme, BitClub Network, causing the company to come under the radar of the U.S. Department of Justice (DoJ). Such an...
Malaysia’s Securities Commission (SC) recently published a regulatory framework for Initial Exchange Offerings (IEOs). The new guideline declared Initial Coin Offerings (ICOs) illegal, making IEOs the only recognized means of conducting digital token sales. Malaysia’s Securities Commission Regulate IEOs Per a report by Fintech News Malaysia on January 15, 2020,...
Bitbox Cryptocurrency exchange owned by the Japanese messaging giant, LINE, recently announced plans to delist the XRP token and its trading pairs. While the planned action comes as a shock to the XRP and Ripple community, the XRP token, compared to other altcoins, has enjoyed a price surge since the...
South Korea’s tax agency, the National Tax Service (NTS) recently slammed Bithumb, one of the country’s largest cryptocurrency exchanges, with a whopping tax bill of $69.3 million. According to the NTS, the tax bill covered withholding taxes of foreign clients owed by the crypto exchange. In another development, however, South...
Australia’s financial watchdog, the Australian Transactions Report and Analysis Center (AUSTRAC) recently announced the withdrawal of licenses previously issued to three cryptocurrency exchanges. According to the anti-money laundering (AML) agency, the affected crypto exchanges were alleged to be connected to criminal activities. Crypto Licenses Withdrawn on Suspicion of Criminal Activities...
The San Francisco-based blockchain startup, Ripple, is now valued at $10 billion, following recent funding of $200 million. According to the company, the new funding is geared towards ensuring wider adoption of its crypto asset, XRP, for international transactions. Ripple Now Worth $10 Billion Per a report by Fortune...
Major cryptocurrency exchange platform, Bitfiniex, has taken steps to monitor transactions that occur on the platform, by integrating a compliance tool, Chainalysis KYT from Chainalysis, a top blockchain analysis startup. The tool will help the crypto exchange to monitor transactions that occur on the exchange and combat money laundering and...
After a stellar 2019 performance, Tezos (XTZ) appears set to upstage Stellar (XLM) and break into the top-10 crypto rankings based on market capitalization. Meanwhile, Kraken has joined other crypto exchanges in launching XTZ staking promising returns of up to six percent. XTZ Looking to Upstage XLM According to data...
The Financial Services Board (FSB) has issued a report highlighting the potential impact of large tech firms participating in the crypto and digital payments arena. As part of its report, the FSB is calling for robust monitoring of the trend while issuing warnings related to the stability of the global...
The Reserve Bank of India (RBI), India’s central bank, has become the latest central bank with plans to launch a central bank digital currency otherwise known as CBDC. Despite looking into the possibility of launching a ‘crypto-rupee’, the RBI still maintains its anti-cryptocurrency stance. RBI Still Studying Central Bank Digital...
Cryptocurrency owners have been grappling with ways to accurately report their earnings to the U.S. Internal Revenue Service (IRS). With the pressure from the IRS on bitcoin owners to come clean with their earnings, there are suggested ways that individuals can avoid getting on the bad side of the law. ...
Major South Korean cryptocurrency exchange, UpBit, announced that over 340,000 worth of Ethereum (ETH) was transferred to an anonymous wallet. While the exchange did not explicitly mention a hack attack nor specify how the withdrawal was done, the company pledged to cover up the missing funds. UpBit Crypto Exchange Possibly...
Block reward on the Ethereum network is currently down by 1,000 ETH amid a slight increase in block time, signaling the emergence of yet another ‘difficulty bomb.’ Miners, dApp projects, and hodlers will have some decisions to make regarding the difficulty bomb even as Ethereum moves towards a pivot to...
Another Canadian cryptocurrency exchange has shut down following allegations of misappropriating client funds. Recent findings revealed that customers' money held by the crypto exchange was missing, as it was discovered that the company did not have enough funds to pay indebted customers. $16 Million Missing According to a report by...
Japan may be the latest country whose central bank is looking to launch a sovereign digital currency. However, authorities in the country say there is no rush towards creating a digital Yen even as the CBDC wars appears to be gaining momentum. BoJ Studying Modalities for Digital Yen According to...
