By Talha Dar on Feb 17, 2019 07:30 pm
Europe Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country. European Union EU Parliament Member Praises EU Stance on Crypto: A member of the EU Parliament has spoken in favour of the EU’s stance on cryptocurrencies. Eva Kaili, a member of the legislative body spoke out in favour of the supposedly progressive stance adopted by the Union. Speaking at an event organized by Ripple in London, Kaili said that blockchain’s disruptive behaviour was now being acknowledged by many EU member states. Kaili has long been a cryptocurrency advocate in the parliament which has certain legislative powers in the Union. United Kingdom Think Tank to Study Impact of Crypto on Economic Institutions: A UK-based think tank, Institute of Decentralized Economics (IDE) has said that it will study the impact of cryptocurrencies on the conventional economic institutions like banks and regulators. The new initiative is being backed by fintech startup Sweetbridge and it will explore new potentials of autonomous systems and find real applications to promote. Once the understanding is better, IDE will recommend the right policies to the government. High School Wins Position in Barclays Blockchain Competition: Blockchain enthusiasts from a London-based high school have claimed the third position in a local hackathon organized by the Barclays Bank and startup Clearmatics. The prize was won by teenagers from Bedford who were up against much more experienced computer scientists and programmers. Spain Central Bank Warns Citizens Against Using Cryptocurrencies: The Central Bank of Spain Banco de Espana has warned citizens against using cryptocurrencies citing a number of issues according to a blog post on its official website. The post stresses that cryptocurrencies are “unregulated assets” and do not have a deposit guarantee fund which the government promises in every fiat deposit. It also points to the issue of cryptocurrencies not being a legal tender and thus users will have difficulties in buying/selling goods through it as the buyer will have no guarantee of the money. While Spain does have some progressive regulations for crypto, the overall market penetration is still low because of uncertainty and the central bank’s constant warnings. Russia Cargo Shipper to Use Blockchain for Port Logistics: Russian cargo company Baltika has announced that it is working on a new blockchain-based solution for improving and immuting the port logistics in the country. According to a post in the local daily Morvesti, the company has inked a deal with Iconic, a blockchain company based in Moscow. The new system will store all information related to shipping and port operations on the blockchain and help improve efficiencies and streamline the company. Miners Concerned Over Russian Internet Shutdown: The Russian cryptocurrency mining community is concerned about government’s plans to shut down the internet for a little while before April 1. The planned shutdown is happening because a new digital doctrine is being implemented by the Russian government, one that involves the Russian internet working on its own. To check this, the government needs to shut it down for a while. The crypto community feels threatened because so much of what they do is online and it might cause unprecedented problems. Luxembourg Blockchain Framework Bill Passed by Parliament: The Luxembourg parliament has passed a new law that will facilitate the uses of blockchain technology in financial services and other industries. While the top regulator in the country has issued warnings against cryptocurrency projects like in the country before, the overall attitude is now looking quite positive for the industry. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: BitcoinNews.com The post Europe: Crypto and Blockchain News Roundup 9th to 15th February 2019 appeared first on BitcoinNews.com.
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By Talha Dar on Feb 17, 2019 05:30 pm
North America Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country. The United States JP Morgan Launches New Cryptocurrency: JP Morgan, one of the biggest investment banks in the country has launched a new crypto token called JPM Coin. The new coin is more like a stablecoin and will be backed by USD. The move was surprising because JP Morgan has long called cryptocurrencies unreliable and a scam but the latest move suggests that the mindset is currently changing and the bank is eagerly looking on to join the stablecoin bandwagon. The coin drew a mixed response from the crypto community with Ripple’s boss Brad Garlinghouse calling it out for its lack of innovation. However, confusion surrounds much of the new JPM coin’s details. Virginia Police Fund Invests Millions in Bitcoin: Virginia’s Police Retirement Fund of Fairfax County has announced that it will invest some of its money in Bitcoin. The funds will be invested through Morgan Creek which will use it to invest in companies like Coinbase and Bakkt. More than USD 40 million from these pension funds will be eventually invested by Morgan Creek. This is the first time in USA that a police retirement fund is looking to invest in cryptocurrencies. UC Berkeley Announces Accelerator for New Blockchain Startups: One of the top public universities in the US UC Berkeley has announced a new accelerator program for new blockchain startups trying to gain a footing. The 12-weeks long program is being launched with a partnership between Berkeley Blockchain Xcelerator, Haas School for Business and Blockchain and Venture Capitalist fund Berkeley X-lab Fund. The program is open for everyone and new startups can apply to it. The selected startups will be mentored by entrepreneurs, students, alumni and investors from the industry. IBM Looking to Fight California Drought with Blockchain: IBM is looking to employ blockchain to tackle the issue of drought in some parts of California. The project will initially observe one of the largest and at-risk aquifers in the area using sensors and blockchain to record the data. IBM is joining hands with the University of Colorado Boulder and non-profit The Freshwater Trust (TFT) for this project and looks to test the initial effort for a potential expanded investment. Canada Quadriga Investors Still Unsure About their Funds: Quadriga exchange’s curious case is unfolding further as more details are emerging from the case. This week saw a flurry of new information being released to the public. Quadriga exchange’s case is unique because its owner Gerald Cotten died with access to a cold storage wallet that had a majority of the exchange’s crypto assets. Now those funds are difficult, nearly impossible to access. At first, this week the government announced that it would do as much as it could to help the victims and retrieve funds, but it has proven to be an extremely difficult task. Cutton’s widow may reportedly have the keys to the cold storage wallet but nothing is certain for now. A local judge has reportedly given the exchange’s operators 30 days to try and access the wallet. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: BitcoinNews.com The post North America: Crypto and Blockchain News Roundup 9th to 15th February 2019 appeared first on BitcoinNews.com.
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By Talha Dar on Feb 17, 2019 03:30 pm
Asia and Australia Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country. Japan Financial Regulator Declares Drop in Crypto Inquiries: The top financial regulator of Japan, Financial Services Agency (FSA) has announced that there has been a drop in crypto-related inquiries reported to the agency during Q4 2018. In Q3, around 1231 inquiries related to cryptocurrencies were asked by the public but in Q4, only 788 were filed signaling an almost 36% drop. While there has been an increase in the number of inquiries in other regions, signifying a rising level of interest in cryptocurrencies among the public, latest statistics from Japan shows that either the Japanese public is getting more aware of crypto regulations or the interest in the sector is cooling down. Only time will tell what it actually is. South Korea Telecom Company to Help Launch Local Cryptocurrency: Gimpo area in South Korea is looking to launch a local cryptocurrency in the region and has awarded the contract to a local Telecom company KT Corporation. The new token named K Token will be available for the public in April of this year and tokens worth 11 billion Korean Wong will be launched in the initial phase. As part of the pilot project, only merchants will be allowed to use the newly localized cryptocurrency. They will also be able to convert the coins into fiat on request. The local cryptocurrency approach is gaining traction around the world and many local governments are looking to launch their own currency in order to promote cashless transactions and increase transparency. China Billionaire Claims Patience Needed for Bitcoin Investment: Chinese Zhao Dong, one of the largest Over the Counter (OTC) traders in the world has said that the crypto community will need to show patience if it is to reap its profits. He claimed that it might be more than a year before the next bull run is witnessed. He made these comments during an appearance in a WeChat group called "The Public Chain Alliance Crossing The Bulls And Bears Elite Team". Zhao has previously claimed that Bitcoin will touch USD 50,000 by 2021 but investors need to show patience before it can actually reach that level. Indonesia New Rules Tough on Crypto Trading: New cryptocurrency futures trading rules announced by the government are being viewed with apprehension by the cryptocurrency community according to the local daily Jakarta Post. The new rules state that crypto traders have to deposit 80 billion (USD 5.7 million) in order to take part in trading activities. the Trade Ministry's Futures Exchange Supervisory Board (Bappebti) has also placed other restrictive measures against trading as well. Cryptocurrencies are currently illegal in Indonesia but still, under the wraps a lot of trading takes place with Bitcoin traders even surpassing the number of stock market traders in the country last year. Australia IBM Brings Blockchain Water Conservation Projects in Australia: IBM is working on a new range of water conservation projects in Australia with a combination of the Internet of Things (IoT) sensors. The initial pilot programmes will be used to track sustainable underground water usage in a country where water is scarce in many areas. The new platform is expected to use the company’s flagship Hyperledger blockchain system that is being used in other industries as well. IBM is also trying to get into other industries including financial services and government branches to help expand the use of Hyperledger system. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: BitcoinNews.com The post Asia and Australia: Crypto and Blockchain News Roundup 9th to 15th February 2019 appeared first on BitcoinNews.com.
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By Harold Vandelay on Feb 17, 2019 01:30 pm
Argentina has made history by recently completing an export deal with South American neighbor Paraguay using Bitcoin as payment. The export of pesticides and fumigation products has set an example for others in the region, showing that cryptocurrency has the potential to act as a credible form of payment at the international trade level as well as between individual users. Although a small total in terms of export values, still the move is significant, illustrating the simplicity of the process of paying using a cryptocurrency and then converting to local currency. Argentina utilized Bitex – a Latin American financial service provider that supports Bitcoin payments- to facilitate the deal made under the Esporta Simple programme which facilitates small deals of less than USD 15,000. This was not the first time Bitex crypto project involved the Argentinean Banco Masventas. Last year, the bank had announced the creation of a SWIFT interbank alternative, using Bitex to provide support for BTC transactions. Paraguay itself has seen some serious activity on the cryptocurrency front since the end of 2018, following a new partnership with local Bitcoin mining equipment manufacturer Bitfury and Commons Foundation, a South Korean peer-to-peer knowledge commons research firm. The project will see the launch of several mining facilities in Paraguay. Under the project, a remote area of Paraguay close to the borders of Brazil and Argentina is to develop its own crypto mining subculture, thanks to the world's largest dam, the Itapúa Hydroelectric Dam – the largest operational hydroelectric energy producer in the world. It appears Itapúa is finally going to create the regeneration many have been calling for as Paraguay's government has revealed plans to put into action, the "Golden Goose" – a project which will see the construction of five mining centers on 50 square kilometers near the tourist border town of Ciudad del Este. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay The post Argentina Goes With Bitcoin to Settle Export Deal appeared first on BitcoinNews.com.
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By Talha Dar on Feb 17, 2019 11:30 am
South America Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country. Brazil Crypto Association Launches Crypto Prize: ABCripto, one of the top two crypto exchanges in the country has launched a new crypto prize to recognize the leading experts in the field who are working in startups and market development. The new ABCripto Prize is open for entries and applications must reach ABCripto by March 16, 2019. All innovators involved in this sector can apply for the prize by following this link. There are three categories for prizes in the event, including Professional of the year, Academic and Influencer. The actual date, place, jury and other details will soon be announced by the association. Florianopolis Shopping Center to Accept Bitcoin in a First: Brazilian city of Florianopolis will see a host of new outlets accepting Bitcoin as payment at the new Multi Open Shopping Mall. They include a movie theatre, stores, and other commercial areas. More than 90 outlets in the arena are expected to accept BTC. The BTC payment will be enabled in partnership with Bancryp which has also invested in an office in the space. Florianopolis is swiftly becoming an important tech hub of the country and accepting crypto payments will bring more investment and jobs to the area. P2P Bitcoin Traders Adopt New Price Index: P2P Bitcoin vendors in Brazil have adopted a different Bitcoin price index because of premium related issues. While Bitcoin trading on exchanges is booming in the country, P2P vendors and traders like the ones operating on localbitcoins.com have different dynamics and thus have jacked up the price of the cryptocurrency which is a little higher than the latest official exchange rate. There is a new index called the Brazilian Real Index (BRIX) that now truly determines the actual exchange rate in these cases. It has already been adopted by invested.com in the country. New Bill Could Help Blockchain Penetrate Further: Newly elected president Jair Bolsanaro will soon sign a new decree that will help cryptocurrencies and blockchain projects working in the country. According to the Civic House of the Republic, the new bill will include provisions to integrate all documents with the CPF (Register of Citizens). The new CPF integration will be registered on the blockchain, on a platform developed in partnership with Dataprev. With this implementation, Brazil will become the first country to register its citizens on a blockchain application. Argentina First Export Deal Settled with Bitcoin Payment: The Argentinian government has exported pesticides and fumigation products to Chile using Bitcoin in a first between the two countries. The deal was worth USD 7,100 and may form the basis of increased BTC use in the region. The payment was facilitated by Bitex, a South American crypto payments enabler. Argentina is seeing increasing adoption of cryptocurrencies as the country is suffering from hyperinflation and other economic issues. Experts believe cryptocurrencies can help Argentina progress economically. Chile Central Bank Believes Cryptocurrencies are Unable to Substitute Fiat: The Chilean central bank believes that cryptocurrencies do not have the capacity right now to replace fiat currency. In a report sent to the Tribunal de Defensa de la Libre Competencia (TDLC), a competition commission in the country, the bank’s research argues that cryptocurrencies’ market penetration and usage has many issues and it will take time for them to reach at par with the fiat currency. Legal issues and compliance will also be discussed. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: BitcoinNews.com The post South America: Crypto and Blockchain News Roundup 9th to 15th February 2019 appeared first on BitcoinNews.com.
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By Harold Vandelay on Feb 17, 2019 09:30 am
The SEC has begun to review a rule change for the NYSE's Arca ETF with a decision due in 45 days. The NYSE filed for permission to launch Bitcoin-related ETFs last year hoping to launch five separate ETFs linked to both bull and bear futures contracts listed on NYSE Arca. Now the NYSE Arca exchange has filed a rule change proposal to list and trade shares of the Bitwise Bitcoin ETF Trust. The ETFs would reportedly be linked to the price of Bitcoin futures on the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE). Also, provider Bitwise Asset Management filed an ETF application on 10 January, with the proposed ETF tracking the Bitwise Bitcoin Total Return Index. Those submitting ETFs had expressed concerns that their submissions may be delayed as a result of the staff shortages caused by the Trump Wall dilemma and the resulting US government shutdown. As BitcoinNews has reported, the SEC staff shortage had impacted on some of its services, but Jake Chervinsky, a lawyer with Kobre & Kim disagrees with suggestions that if the SEC missed its deadlines the ETFs should be automatically approved. He claimed that the risk of delays was unlikely, suggesting "In reality, that it won't happen. The SEC will handle it one way or another: a one-page denial, a request for withdrawal, or something else." There has been a clear change of stance surrounding the whole ETF approval discussion recently, and some light at the end of the tunnel, as prominent players make encouraging remarks. SEC Commissioner Heister Peirce continues to give hope to the crypto community whilst the Commissioner at the United States Commodity Futures Trading Commission (CFTC) continues to be a critic of the SEC's, arguing that potential price manipulation should not be a barrier to the SEC approving a Bitcoin ETF. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay The post NYSE Arca Bitcoin ETF Now Under SEC Review appeared first on BitcoinNews.com.
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By Talha Dar on Feb 17, 2019 07:30 am
Japan’s Financial Services Agency (FSA) has been requested by the Association of New Economy (JANE) to reduce the current tax rate for crypto-related income, media reported on 14 February 2019. In a proposal request, it has been suggested to the FSA to impose progressive taxation on crypto instead of general taxation, noted media report. The initiative was led by Rakuten's CEO, Hiroshi Mikitani. According to the said proposal, a progressive tax is currently applied to forex and stock markets in Japan. The tax rate, under progressive taxation scheme, is 20 percent. However, the crypto sector is taxed according to the general taxation system, which is 55 percent. The aim of this request is to bring down the tax rate from 50% to 20% on crypto gains. Moreover, the association has proposed that no tax should be imposed on crypto-to-crypto transactions by FSA. In addition, JANE appealed to the Japanese regulator to avoid hindering the growth of the crypto sector. It maintained that restrictive regulations on digital assets will likely harm innovation. Furthermore, the association demanded a clarification from FSA regarding the settlement process of initial coin offering, derivative trading and its regulatory scope. Recently, Rakuten (Japanese version of Amazon) declared that it will revise its corporate structure. The company aims to utilize blockchain technology for setting up a new payments subsidiary system. Moreover, its loyalty branch, Spotlight Inc., will be rebranded to a new firm named as Rakuten Payment. A crypto exchange will also be operated by Rakuten Payment. On the other hand, FSA recently (12 January) announced that within the next six months, the review process of crypto-related businesses licenses will either be rejected or approved. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay.com The post Japan Financial Regulator Requested to Reduce Crypto Tax by Economic Alliance appeared first on BitcoinNews.com.
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By Talha Dar on Feb 17, 2019 05:30 am
In a filing with the US Security Exchange Commission (SEC), Apple has mentioned its work in formulating the Responsible Minerals Initiative's (RMI) blockchain guidelines. The "Conflict Minerals Report" was published on 15th February 2019. In summary, the document explains various business practices and ethics employed by Apple in sourcing minerals for its consumer electronic devices. The document maintained that Apple is committed to protecting people in its supply chain. Moreover, in order to exceed internationally accepted standards, the company is willing to go beyond minimum requirements. During 2018, Apple came under severe criticism for alleged violations of human rights in its supply chain. Amnesty International noted in a report that "the bar is low" when it comes to human rights in Apple. Reportedly, Apple revealed its plan for obtaining cobalt (an essential mineral for smartphones) directly from Congolese mines, which raised the concern regarding potential human rights abuse. Responsible Business Alliance's RMI was established (2008) in order to contribute to the improvement and development of diligent mechanisms and resources in the mineral supply chain. Currently, it comprises of 360 companies including Apple, Acer and Best Buy. Now, these companies are looking to integrate blockchain technology in order to make sure that human rights are not violated during the process of mineral sourcing. Initially launched in March 2018, the aim of RMI's blockchain guidelines is to come up with a well-defined set of rules, terms and concepts for the integration of blockchain in the mineral supply chain. According to this recent filing, Apple is a participant in the said drafting process. Moreover, the aim of RMI is to promote a sense of understanding among businesses regarding blockchain technology, its potential impact on supply chain and industrial applications. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay.com The post Apple Contributing to Ethical Mining Project appeared first on BitcoinNews.com.
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Recap - Day in Crypto - BitcoinNews.com for 02/17/2019