Blockchain Daily News – Edition 241, 02.07.2018
July 2, 2018
Blockchain Daily News – Edition 243, 04.07.2018
July 4, 2018

Blockchain Daily News – Edition 242, 03.07.2018

Today’s Highlights: Coinbase adds 10 customers for its new crypto custody service, Thai securities firms team up for crypto exchange launch, Kraken responded to a recent article by Bloomberg, new report warns EU policymakers not to ban bitcoin and Russian Military Is building a blockchain research lab.

Editors’ thoughts today: Happy Birthday FinTech Daily News & Blockchain Daily News! Hip hip horaaay!

Editor-in-chief Florin Adrian Oprea (FAO): Ladies and gents, Happy Birthday to Us! We celebrate our 1st year of publishing! Check out our very first edition of FinTech Daily News – here, and Blockchain Daily News – here. It was a busy, but fun, 1st year, we consider we achieved part of our goals, and we hope you enjoyed our content throughout the period.

It would be nice if you send us your thoughts regarding: what we did good, what needs improvement, what format you like best i.e website/mobile app (want the email back?), or any any other ideas that could help us improve and scale up.

A big “Thank You” for all the support of our readers, partners, investors and friends! Keep reading our publications and please help us grow!

Editor Decebal Nicolaie Todarita (DNT): Dear friends, we celebrate today one year of Blockchain Daily News! It’s been a fantastic journey which would not have been possible without you, our readers. Thank you for being with us and supporting us.  

We grew up together, developed our knowledge and accumulated valuable information. We are convinced that this is just the beginning. Martin Luther King, Jr. said that “the time is always right to do what is right”…We strongly believe that to provide valuable information, do debate and share ideas is the right thing to do for developing our world. So, stay beside us!

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Fans’ Section

Coinbase Adds 10 Customers For Its New Crypto Custody Service

Olga Kharif & Benjamin Bain – Bloomberg (subscription)

With Coinbase Custody, Institutional Investors Can Now Invest Billions In Crypto

Cryptoslate

Coinbase, the world’s largest crypto exchange with more than 20 million active users, launched a custodian solution for large-scale institutional investors that could potentially attract billions of dollars worth of new capital into the crypto market.

FAO: Don’t say we didn’t warn you about this. The cryptoverse is gradually opening up to institutional traders. Oh, markets are up again too. Other major firms offering custodial services are itBit and Xapo.

Crypto Investors Are Complaining About The Same ‘Biggest Pain Point,’ And Fixing It Could Add Billions To The Bitcoin Market

Frank Chaparro – Business Insider (subscription)

There is a dearth of middlemen in the crypto investing world, and it is causing a big headache for crypto investors and is likely keeping out billions in mainstream institutional money. On Wall Street, middlemen called brokers sit between institutional investors, like a hedge fund or money manager, and exchanges and other trading venues. Such operations are hard to come by in the crypto world because the barriers to entry are high.

Exchanges & Trading Venues

Asco Looks Into Joint Exchange

Nuntawun Polkuamdee – Bnagkok Post

Thai Securities Firms To Team Up for Crypto Exchange Launch

Wolfie Zhao – CoinDesk

A group of traditional securities firms in Thailand is planning to jointly launch a new cryptocurrency exchange. According to the Bangkok Post on Monday, the Association of Securities Companies (ACE) – a body that represents the country’s securities firms – said it is in talks with regulators about allowing established financial firms to offer crypto exchange services.

DNT: Read also, in ou yesterday’s edition, about how Thailand managed to boost crypto by its Digital Asset Business Decree, which defines both cryptocurrencies (a medium of exchanging goods) and digital tokens (rights to participate in an investment, or to receive specific goods).

FAO: A perfect example of how regulating a trading environment can lead to its healthy development.

Kraken Claims Bloomberg Is Manipulating Bitcoin Futures Market

Tim Copland – News BTC

Crypto exchange Kraken has responded to a recent article by Bloomberg that argues Tether is being manipulated on their exchange. Kraken took a dig at the article’s complex headline and insinuated that the article was written to have an effect on the price of futures trading.

DNT: The Bloomberg article is “Crypto Coin Tether Defies Logic on Kraken’s Market, Raising Red Flags” and was published on June 29. You can access the story here, Cryptocurrencies section.  

FAO: So then, who is manipulating what? Where? Let’s catch up on our Facebook, Linkedin & Telegram groups.

Cryptocurrencies

5 Reasons Why Bitcoin Is Recovering in July

Christine Masters  – Cryptovest

Bitcoin still managed to add $500 within days, showing that falling through the $5,800 level is delayed, at least in the short term. BTC saw enough optimism over the weekend to recover the $6,300 level. Here are five reasons BTC is showing price strength.

Crypto Mining Hardware Industry Falters As Profits Dwindle

News BTC

Cryptocurrency mining profits are on the way down, resulting in declining demand for hardware, such as high-end graphics cards. Sources suggest that GPUs could drop by as much as 20% within the upcoming month.

BitPeople

Illegal Crypto Stock Sales Lead SEC To Settle With Nevada Men

Chris Dolmetsch – Bloomberg (subscription)

US: Two Men Settle Suit With SEC in Connection With Illegal Blockchain Stock Sales

Ana Alexandre – Cointelegraph

Two Nevada citizens agreed to settle a lawsuit filed by the U.S. SEC, which accused them of profiting from the illegal sale of stocks of UBI Blockchain Internet Ltd., Bloomberg reported.

Sponsors

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Latest Developments & Agreements

European Banks Complete First Live Blockchain Financial Trades

Wolfie Zhao – CoinDesk

A group of European banks announced they have completed first live blockchain-based financial trades across borders via their jointly developed we.trade blockchain platform. Built on IBM’s Blockchain Platform and its Hyperledger Fabric technology, we.trade was established by Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and UniCredit, in a bid to boost the efficiency of cross-border financial transactions.

Regulation

Japanese Financial Services Agency to Change Crypto Exchange Regulations

Aaron Wood – Cointelegraph

Japanese financial regulator the Financial Services Agency is considering to change the legal basis for how it regulates cryptocurrency exchanges, local media Sankei reports (Ed. note – link in Japanese). The FSA reportedly is considering to regulate crypto exchanges by the Financial Instruments and Exchange Act (FIEA), instead of its current legal foundation, the Payment Services Act.

FAO: Anything that can bring more clarity is welcome. Don’t forget to add cybersecurity standards to existing and future regulation.

From Russia To Macedonia: How Cryptocurrencies Are Regulated In Eastern Europe

Stephen O’Neal – Cointelegraph

To navigate through the complexities surrounding crypto regulation in the region, here’s a guide covering the majority of Eastern European countries, from Russia to Macedonia.

RBI Window Ends In 2 Days: Have You Exited Crypto Holdings Yet?

Shaikh Zoaib Saleem – Livemint

The three-month window for RBI-regulated entities to wind up relations with individuals, firms dealing in crypto assets ends on 5 July. If you haven’t exited already, now is the time.

FAO: Is it over for India’s crypto markets? We believe this is not the case. Why? Send us your queries here, we also offer consulting services!

New Report Warns EU Policymakers Not To Ban Bitcoin

Allen Scott  – Bitcoinist

New research analysis on cryptocurrencies for the Economic and Monetary Affairs Committee of the EU parliament cautions lawmakers neither to ignore nor “attempt to ban” virtual currencies.

DNT: The report is entitled “Virtual currencies and central banks monetary policy: challenges ahead and you can read it here.

Accelerators & Hubs

The Russian Military Is Building A Blockchain Research Lab

Muyao Shen – CoinDesk

The Russian Ministry of Defense is launching a research lab to analyze how blockchain technology can be used to mitigate cybersecurity attacks, a local newspaper reported. The nation’s military technology accelerator, referred to as the ERA, is launching a special scientific lab to determine whether blockchain technology can be used to identify cyber attacks and protect critical infrastructure, according to Russian daily Izvestia (Ed. note – link in Japanese).

DNT: UH, OH…But don’t be surprised! After all, blockchain belongs or will belong to the “mother Russia”, as Russian spy Grigory Marshalko, said recently – details here, Opinion section.

Associations & Federations

Crypto Valley Declares Blockchain Voting Trial A ‘Success’

Muyao Shen – CoinDesk  

Zug, a city in Switzerland known as the “Crypto Valley,” has successfully completed its first test of a local blockchain-based voting system. The city’s head of communications, Dieter Müller, claimed that “the premiere was a success.”

DNT: The blockchain-powered trial municipal vote was announced on June 11, and reported here, Other news section.

Events

Want your event details published in Blockchain Daily News? Send us your queries here.

Other news

Germany’s SolarisBank to Serve Blockchain and Crypto Companies

Veronika Rinecker – Cointelegraph

Crypto and blockchain companies from the European Economic Area (EEA) can now conduct business through the fully licensed German solarisBank.

FAO: Useful information which definitely needs to circulate since there are several hundreds of potential companies in Germany alone.

Startups Push Blockchain Beyond Cryptocurrency

Eri Sugiura – Nikkei Asian Review

Blockchain technology is spreading beyond cryptocurrency, in sectors closer to consumers, making use of its ability to ensure the authenticity of products or information.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News