by Florin Oprea
Reuters Staff – Reuters
South Korea’s cryptocurrency industry is anticipating much better times as the market regulator changes tack from its tough stance on the virtual coin trade, promising instead to help promote blockchain technology. The regulator said that it hopes to see South Korea — which has become a hub for cryptocurrency trade — normalise the virtual coin business in a self-regulatory environment.
FAO: A follow-up to yesterday reports from South Korea, which has changed its approach on the cryptoverse matter, choosing to keep the business in, to increase its tax revenues, to encourage innovation and let its people enjoy progress. Good job, South Korea! At the same time this means we will see an interesting battle in the region, with Japan in pole position.
Lily Katz – Bloomberg (subscription)
Aaron Hankin – MarketWatch
In an attempt to tackle expensive bitcoin transaction fees and slow processing times, two leading cryptocurrency exchanges, Coinbase and Bitfinex, announced they have rolled out a software update that they hope will address mounting concerns.
FAO: Awesome! It was about time…
Nikhilesh De – CoinDesk
The government of Venezuela published several guides in support of the presale for its “petro” cryptocurrency. Announcing the oil-backed token as a form of legal tender that can be used to pay taxes, fees and other public needs, the Venezuelan government outlined its plans and expectations for the petro in a new website built for the cryptocurrency.
FAO: More about “the petro”, the “national ICO”which has already raised more than $700m…
Patricia Hurtado – Bloomberg (subscription)
Nate Raymond – Reuters
The operator of a shuttered bitcoin-denominated exchange was arrested on federal charges that he lied to U.S. securities regulators to avoid taking responsibility for the theft by hackers of virtual currency now worth nearly $70 million. Federal prosecutors in Manhattan announced the charges against BitFunder founder Jon Montroll the same day SEC filed a lawsuit accusing him and the company of running an unregistered securities exchange that defrauded its users.
FAO: It looks like Montroll operated WeExchange Australia Pty Ltd (a bitcoin depository and exchange), and BitFunder.com, a service which allowed users to sell virtual shares of companies against bitcoins.
Stephanie Yang – The Wall Street Journal
As more people jump into bitcoin mining, companies like Bcause look to provide the infrastructure, security and electricity.
DNT: Bcause also wants to build a crypto hub in Virginia and it approved $500,000 grant for this purpose. Details here, Startups, Accelerators & Hubs section.
Camila Russo – Bloomberg (subscription)
Matt Hougan is leaving the ETF industry after 15 years and going all-in on cryptocurrencies as he predicts digital assets will transform investments just like ETFs did.
FAO: Newsflash! Cryptoverse is booming, but you already know that, since you read stories like the one above…Ex
Oscar Williams-Grut — Business Insider
A former commodities trader-turned-bitcoin fund manager says that so-called ICOs “offer a richness that you’ll never get in a regular IPO.” Danny Masters, who ran JPMorgan’s commodities trading business in New York in the 1990s, told Business Insider: “I’ve never seen a better process for the formation of capital than this.
Nikkei Asian Review (subscription)
So-called “white hat” hackers are adding their expertise to the ongoing search for 58 billion yen ($538 million) worth of NEM cryptocurrency stolen in the recent hack of Coincheck. Their contributions are inspiring more computer experts to join them.
FAO: Hacked NEMs still gone, let’s hope not “gone with the wind”…
Jack Morse – Mashable
There’s digital gold in them thar computers, and hackers are digging their way in.
Tesla is hailed as a cutting-edge company known for setting the agenda in its field, but when it comes to being the victim of malicious hackers hijacking its computer resources to mine cryptocurrency, it turns out it’s just like everyone
FAO: You need to admit it, they can be quite
Rob Urban – Bloomberg (subscription)
Ripple said Latin America’s biggest bank by market value is among five new customers joining its international money-transfer network.
FAO: Press release here.
Daniel Palmer – CoinDesk
R3, TradeIX and a group of major banks have moved their Marco Polo trade finance platform to the pilot stage. The news follows on from what the firms call in a press release a “successful” proof-of-concept that commenced last September in partnership with BNP, Commerzbank and ING.
Edward Robinson – Bloomberg (subscription)
Lawrence White – Reuters
Britain’s cross-party Treasury Select Committee of lawmakers said it is launching an inquiry into digital currencies, as well as the underlying distributed ledger technology.
FAO: Not surprising, since their cousins in the States are after this too. The US Congress already set sights on Federal cryptocurrency rules (more here). Why this haste? FOMO tax revenues maybe…AND, I suggest you read our opinion on recent market volatility and what this could mean for the future of the cryptoverse. We first published it on Linkedin Pulse on Feb 13th, and now you can read it on Global Association of Risk Professionals’ website!
Annaliese Milano – CoinDesk
Gibraltar may be moving to regulate initial coin offerings (ICOs), but officials say it will be up to the market to determine what a “good” token sale looks like. The U.K. overseas territory announced that it was drafting ICO regulation earlier this month, which will include the implementation of a system for “authorized sponsors” that will be tasked with managing compliance.
Nikhilesh De – CoinDesk
Proposed protections for cryptocurrency node operators are moving ahead in Arizona’s legislature, public records show.
Three organizations – B-Hive, the Luxembourg House of Financial Technology and the Dutch Blockchain Coalition signed a Memorandum of Understanding that will allow them to leverage their significant collaboration potential for mutual benefit around the topic of blockchain, and allows them to recognize each other’s contribution towards this collaboration.
Africa FinTech Summit August 16-17 2018 – Accra, Ghana – Agenda here
FAO: I am one of the speakers at the event, you can check the entire list of speakers here. Please note that I am building up my agenda for 2018 – if you want me as a speaker at your events better get in touch before my year gets uber busy – contact me here.
Frank Chaparro – Business Insider
Bitcoin is trading at a big premium in South Korea thanks to bullish news out of the country. That provides a golden opportunity for traders to make a profit.
Annie Pei – CNBC
Bitcoin is back.
According to trader Brian Kelly, BTC rally is the result of more crypto-friendly attitudes by government regulators
Olga Kharif – Bloomberg (subscription)
Long Blockchain Corp., the iced-tea company that jumped in on the cryptocurrency craze, said it was accused by the Nasdaq of possibly misleading investors.
Adam Rogers – Wired
In a study of 13,000 people, 86 percent worried about what would happen if a researcher misused their genetic data. Slightly more than half had concerns about their privacy.
Obviously there can be only one solution: the blockchain.
FAO: Florin Adrian Oprea, Editor-in-chief Blockchain Daily News
DNT: Decebal Nicolaie Todarita, Editor Blockchain Daily News