Archive for  March 2018

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Kazakhstan’s National Bank is taking a hard-line approach toward the regulation of cryptocurrencies — in an effort to prohibit its exchange for Kazakhstan’s national currency, the tenge, and every type of cryptomining, Chairman of Kazakhstan’s National Bank Daniyar Akishev told on March 30, 2018. “We minimize the risks related to the national market. However, no central bank has all the instruments to control this market in the cross-border market. Therefore, at least, we must prevent this risk via the national currency,” he stated.

The updated policy of User Agreement will be enforced from 30th March. The company claims that the main aim of this update is to tackle fraudulent activities on the crypto market. The company representative also clarified that they will not block the distribution of information about any cryptocurrency, as long as the sender does not offer or promote production, sale, exchange, storage, or marketing of cryptocurrencies.

LitePay project was created to offer LitePay debit cards and wallet that would allow users to convert Litecoin into USD and was planned to be launched in February this year. LitePay CEO Kenneth Asare raised concerns earlier this month when the fund refused further funding of the project and failed to provide a satisfactory picture of where the money had been spent. The project’s activity was suspended by the Tax Office for non-compliance with tax claims since then.

94 entities took part in the second round of this ICO to support the development of messenger’s own Blockchain platform TON. According to the local press, one of the investors in the first round, that also managed to raise $850mln, was Russian billionaire Roman Abramovich. Unconfirmed source reported that he invested $300 mln.

World’s fifth largest exchange plans to move to Swiss Zug, as confirmed by Bitfinex CEO. The company is looking for a joint location for Bitfinex and their parent company iFinex, which have previously been located in different countries. London was also one of the possible new locations of the company, however Switzerland tops the list of possible jurisdictions, as it is fully prepared to comply with all necessary regulatory norms.

Mr. Exchange and Tokyo GateWay platforms will have to return their customers’ fiat and cryptocurrency funds and cease trading, after they both failed to prove their security credentials to the Financial Services Authority (FSA). Japan’s financial services regulator continue their checks on the exchange industry, in light of recent Coincheck’s $530 mln hack.

According to the bank’s statement, BOE will ‘undertake a proof-of-concept (PoC) to understand how the renewed Real Time Gross Settlement (RTGS) service could be capable of interacting with Distributed Ledger Technology (DLT)’. RTGS will enable transactions to be settled at the time of processing on a one-to-one basis without linking with any other transaction. The bank will partner with Baton Systems, Clearmatics Technologies Ltd, R3, and Token to develop payment solutions based on innovative technologies.

South Korean exchange Bithumb announced their partnership with payment service provider Pay’s, which has payment terminals in over 6,000 stores, including 400 domestic and 200 franchise partners among them. Customers who own cryptocurrency on Bithumb will be able to pay for the goods and services with barcodes, generated on their mobile phones. The number of such stores will reach 8,000 by the end of this year.

The donation was addressed to American charity organisation Ripple developers say that the amount donated has satisfied all requests made on yesterday. Around 30,000 teachers and around 1 million pupils received books, school supplies, technology solutions, field lessons and other resources needed for training thanks to this donation. Ripple team also noted that they chose this particular organisation because they share the same views in the area of financial developments.

The group lawsuit, created by Russian Cryptocurrency and Blockchain Association (RCBA), Korean Venture Business Association and Chinese Association of Cryptocurrency Investors, will be filed against Google, Facebook, Twitter and Yandex for banning ads related to cryptocurrency and ICO projects. Head of RCBA says that these four companies use their monopoly position to manipulate the market, and this ban has led to a significant drop in the market over the past month.