Blockchain Daily News – Edition 222, 05.06.2018
June 5, 2018
Blockchain Daily News – Edition 224, 07.06.2018
June 7, 2018

Blockchain Daily News – Edition 223, 06.06.2018

Time for your daily blockchain dosis brought to you by Editor-in-chief Florin Adrian Oprea (FAO) & Editor Decebal Nicolaie Todarita (DNT)! 6 hours of our work for 6 minutes of your time! We have read the Blockchain news for you, so scroll down to read the best (STILL FREE) daily newsletter in this industry!

Keep in close contact:

– install the DIGI CAP NEWS mobile app for Android – here and for iOS – here

– follow our Blockchain Daily News FREE ARCHIVE

– follow our social media profiles on Facebook, Twitter and Linkedin

– join the DIGI CAP NEWS community on our Facebook, Linkedin & Telegram groups

Fans’ Section

Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyberattack

Kate Rooney – CNBC

Crypto Exchange Bitfinex Resumes Operations After Hacker Assault

Camila Russo – Bloomberg (subscription)

Bitfinex, one of the largest cryptocurrency exchanges, said it has resumed normal operations after suffering a so-called denial-of-service attack.

“The Bitfinex exchange was the target of a Distributed Denial of Service attack,” Kasper Rasmussen, head of marketing, said in an e-mailed statement. “The exchange was offline for an hour following the DDoS attack; however, the exchange is back online.The attack only impacted trading operations, and user accounts and their associated funds/account balances were not at risk at any point during the attack.”

DNT: The exchange lost $68 million from another hack in August 2016.

Cryptocurrencies At ‘Height of Hype Cycle,’ Nasdaq CEO Adena Friedman Says

Bloomberg – video

Adena Friedman, Nasdaq, president and CEO, talks about the evolution of capital markets.

Ripple CEO Brad Garlinghouse Says ‘Dozens’ Of Banks Will Use Its Cryptocurrency Product In 2019

Arjun Kharpal – CNBC

Ripple will have “dozens” of banks using its blockchain product that requires a digital currency known as XRP to work, the start-up’s CEO,  Brad Garlinghouse said. The company is developing a solution that allows cross-border money transactions between banks in a faster and cheaper way than the current system allows. It’s based on a blockchain, the technology that underpins many cryptocurrencies.

DNTWell, it’s possible. We’ll see. Scroll down to Opinion section and read also what Garlinghouse thinks about Bitcoin.

Deals & Investments

Huobi ToOffer $166 Million Prize For Own Blockchain Creation

Wolfie Zhao  – CoinDesk

Cryptocurrency exchange Huobi announcedthat it plans to allocate 30 million of its Huobi Tokens (HT) to fund the creation of the company’s own open-sourced blockchain protocol.

The fund, currently worth around $166 million based on CoinMarketCap data, will be used to launch the Huobi Chain Project, which is also aimed to establish a decentralized autonomous organization on top of the proprietary blockchain, the company said.

Exchanges & Trading Venues

Japan’s FSA May Issue First Registration Denial To Crypto Exchange

Wolfie Zhao – Coindesk 

Japan’s financial market regulator is reportedly planning to issue its first ever refusal order to a business registration application filed by a domestic cryptocurrency exchange. According to a Nikkei report, (Ed. note – link in Japanese) a trading platform called FSHO will likely see its registration application denied by the Financial Service Agency due to its previous failures to comply with existing Japanese financial rules.

Cryptocurrencies

Vietnam Considers Blanket Ban On Import Of Cryptocurrency Mining Rigs

Nguyen Ha – VN Express

Vietnam’s Finance Ministry Proposes Temporary Ban On Crypto Mining Hardware Imports

Marie Huillet – Cointelegraph

Vietnam’s Ministry of Finance has proposed a temporary blanket ban on crypto mining hardware imports, VN Express reports. The MoF reportedly raised the proposal, alleging that crypto mining hardware can be used to launch new digital currencies that are “very difficult to regulate.”

DNT: You already know, of course, that Vietnam is in the Team “Against” in our Crypto-Teams BDN Global Outlook. But you can check it, just to refresh your knowledge – it was last updated here,

Belgian Gov’t Launches Website to Warn Public About Crypto Scams, Risks

Helen Partz – Cointelegraph

Belgian authorities have launched a website to raise awareness of the risks associated with investments in crypto, the FPS Economy announced in a public statement. The FPS noted the sharp spike in interest towards crypto investments, which they said “causes a lot more people to be scammed.” According to the statement, Belgian investors reported the loss of €2.2 mln ($2.5 mln) in crypto scams to the FPS last year.

Estonia Says It Won’t Issue A National Cryptocurrency And Never Planned To

Ryan Browne – CNBC

A government spokeswoman said Estonia was not looking to issue its own cryptocurrency as it already uses the euro.Crypto tokens called “estcoins” could possibly be used within the government-backed “e-residency” ID program instead.Triin Oppi, Estonia’s media adviser, said plans to launch a national cryptocurrency “never existed.”

DNT: Check here, Cryptocurrencies section, the story about Estonia plan to create a national cryptocurrency after it drew criticism from Mario Draghi and local banking authorities.

Total Virtual Currency Sales Jump In 2018 But Monthly Trend Slows: Report

Gertrude Chavez-Dreyfuss – Reuters

Virtual currency sales ballooned to $9.1 billion so far this year, exceeding the $6.6 billion total for all of 2017, a fintech data provider reported, but it said the monthly trend actually showed a slowdown if the two biggest offerings are excluded.

Vendors

Facebook Discloses It Shared Data With Chinese Device Makers

Ben Brody & Sarah Frier – Bloomberg (subscription)

Facebook said it had data-sharing partnerships with four Chinese consumer-device makers, including Huawei Technologies., escalating concerns that the social network has consistently failed to tell users how their personal information flows beyond Facebook.The disclosure came after Mark Warner, the top Democrat on the Senate Intelligence Committee, said that he saw “a serious danger” that Facebook shared user information with Chinese device makers.

BitPeople

SEC Appoints Valerie Szczepanik A Crypto Quarterback In A Key Time For Regulation

Kate Rooney – CNBC

The U.S. Securities and Exchange Commission has picked a new leader for its emerging cryptocurrency division.SEC Chairman Jay Clayton called Valerie Szczepanik, the new senior advisor for digital assets and innovation, “the right person to coordinate our efforts in this dynamic area that has both promise and risk.”

Sponsors

Want your banners, press releases, event details or news published in Blockchain Daily News? Send us your queries here.

Latest Developments & Agreements

ThinkCoin Partners With GMEX Group To Develop “Multi Asset Exchange”

JD Alois – Crowdfund Insider

ThinkCoin has entered into a partnership with GMEX Group, a crypto exchange and post-trade solutions platform.GMEX’s Fusion platform combines centralised trading systems with blockchain technology. GMEX suite of features will be combined with the TradeConnect multi-asset trading network, using ThinkCoin. GMEX says tradable assets will include FX, equities, commodities, crypto and more.

DNT: ThinkCoin is in the midst of an ICO with a hard cap of $30 million, we learned from the story.

Japanese IT Giant Fujitsu Launches Blockchain-Based Rewards System For Retail

Marie Huillet – Cointelegraph

Japanese IT giant Fujitsu has launched a blockchain-based reward points system aimed at innovating retail, according to a press release.

Circle In Talks With U.S. To Become Licensed Bank, Trading Venue

Benjamin Bain, Lily Katz & Jesse Hamilton – Bloomberg (subscription)

Circle Internet is looking to make a big leap into the highly regulated realm of U.S. banks and brokerages. The venture, partly backed by Goldman Sachs plans to seek a federal banking license to provide more services to customers. It also intends to pursue registration as a brokerage and trading venue with the Securities and Exchange Commission, so it can help investors buy and sell tokens deemed to be securities.

South Africa’s Central Bank Claims Success in Blockchain Payment Trial

Wolfie Zhao – CoinDesk

South Africa’s central bank has announced what could be argued are astonishing results for a trial of its blockchain-based system for interbank clearance and settlement.According to a statement, the South Africa Reserve Bank said it has completed a 14-week “realistic” proof-of-concept that managed to settle the country’s typical 70,000 daily payment transactions within two hours, taking an average of 1–2 seconds for each transaction – and all while preserving full anonymity.

Regulation

Novogratz Says Regulators Caught Flat-Footed on Cryptocurrencies

Bloomberg (video)

Michael Novogratz, founder and chief executive officer of Galaxy Digital Capital Management, talks about the impact of cryptocurrencies on institutional investment.

CFTC Chair Giancarlo Budget Request References Oversight Of Virtual Currencies & Fintech

JD Alois – Crowdfund Insider

U.S. Commodity Futures Trading Commission Chair J. Christopher Giancarlo testified before a Senate subcommittee to review the Fiscal Year 2019 funding requests and budget justifications for the CFTC, alongside U.S. Securities and Exchange Commission Chair Jay Clayton. Giancarlo requested a “modest increase” in his agencies budget that is “necessary to fulfill the CFTC’s statutory mission.” Within his prepared testimony, Giancarlo referenced Fintech and the oversight of virtual currencies.

Associations & Federations

Denmark Joins EU Blockchain Partnership, Plans To Implement Tech in Shipping

Molly Jane Zuckerman – Cointelegraph

Denmark has signed a declaration to join a total of 24 European Union member states that support pan-EU blockchain standards and solutions.

Events

18-19 June 2018, New Delhi, India – our Publisher and Editor-in-chief, Florin Adrian Oprea (FAO), is invited to speak at the 6th Annual Meeting of The Growth Net, 18-19 June 2018, at the Taj Diplomatic Enclave, New Delhi, India. Join him for a constructive debate about the impact of blockchain technology beyond the use of cryptocurrencies. Being a reader of our daily publications you now have the opportunity of buying discounted tickets – more HERE (do note that a significant discount is applied!).

***

25-29 June 2018, Frankfurt, GermanyBlockchain Daily News is a Media Partner of Crypto Startup School, a summer school jointly organized by The Frankfurt School Blockchain Center and the German Tech Entrepreneurship Center. The event will take place from 25th – 29th of June 2018 on the campus of the Frankfurt School of Finance and Management.

Tickets can be purchased HERE and because you are a reader of our daily publications, you can use this voucher code NEWS-BCA-CSS2018 for a 10% discount.

Analysis

This Pressing Question About Cryptocurrencies Still Has No Answer

Annie Nova – CNBC

The IRS has defined cryptocurrencies as property, meaning no matter where you buy your digital coins, you’ll pay taxes at your capital gains rate.

But there is some uncertainty among tax professionals about whether cryptocurrency investors who buy via foreign exchanges need to go through additional reporting measures.

Blockchain Is So Hyped Right Now And Many Companies Will Get Burned

Arjun Kharpal – CNBC

At this week’s Money 20/20 Europe fintech event in Amsterdam, Netherlands, one delegate said to another: “Let’s just call it a blockchain anyway, we’ll get funding,” one delegate said to another.Whether it was a joke or the person was being serious doesn’t matter. But the comment highlights the way in which the term blockchain is being used by companies of all sizes, often in the wrong way.

DNT: Arjun Kharpal highlights a real phenomenon: “the hype cycle we are in right now with blockchain”. Worth reading.

Other news

DNT: …some more echoes of GitHub sale to Microsoft. Check our FREE ARCHIVE for more information.

Josh Kushner’s Thrive Capital Strikes Gold In GitHub Deal

Gerrit De Vynck –  Bloomberg (subscription)

Andreessen Horowitz, Sequoia Big Winners In GitHub’s Sale To Microsoft

Eric Newcomer & Dina Bass – Bloomberg (subscription)

Two of the most famous Silicon Valley venture capital firms just scored a huge win with Microsoft Corp.’s $7.5 billion purchase of GitHub., the online platform for developers sharing and collaborating on code.

Opinion

Bitcoin Is Not The ‘Panacea’ People Thought It Would Be, Ripple CEO Brad Garlinghouse Says

Arjun Kharpal – CNBC

Garlinghouse: “I think it’s (bitcoin) not going to be the panacea that people once thought it would be, where it would solve all of these different kind of problems… Instead, you’re seeing specializations of different kind of ledgers, different kinds of blockchains.

DNT:  The question is if the financial world really needs an “universal cure” (panacea) and if cryptos, not only BTC, are the right medicine…Share your thoughts on our Facebook, Linkedin & Telegram groups.

 

 

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News