Paxful, a peer-to-peer Bitcoin marketplace established back in 2015, has decided to expand its services in East Africa after seeing significant growth in the region over the years. The expansion plan is part of Paxful’s long-term goal of providing financial services to the unbanked and underbanked across Africa. Paxful has established itself as one of...Read More
The Cameron and Tyler Wnklevoss-led cryptocurrency exchange, Gemini, was recently in the news after the exchange named David Damato as its new Chief Security Officer. The exchange is in the news again after it updated the crypto-community about its latest expansion. According to a blog post by Tyler Winklevoss, Gemini services will now be available...Read More
Tech Bureau is going out of business and Zaif will see an operational shift. The Japanese cryptocurrency exchange, Zaif, will see its operator switch from Tech Bureau to FISCO virtual currency exchange, according to an announcement made on August 22. As per a report from Crypto Watch Japan, Tech Bureau operated the exchange until November...Read More
Kraken, a San Fransisco-based cryptocurrency exchange, has been operating since 2013, making headlines consistently for its donations, funding, and issues with its site and API. OTC Head at Kraken, Nelson Minier, recently shared his journey into the cryptoverse, while also discussing the many developments in the Kraken ecosystem, in a recent podcast. Minier stated that...Read More
Financial Crimes Enforcement Network (FinCEN) and the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an advisory to alert financial institutions to drug trafficking-related financial schemes. The U.S. Department of Treasury released a detailed post that highlighted, “Information in the advisory will assist them (FinCEN) in detecting and reporting related criminal...Read More
Ever since Facebook announced its plans to launch its own cryptocurrency, the world’s regulatory and financial space hasn’t been the same. However, the news cycle about Libra was soon overtaken by lawmakers and regulatory bodies voicing their grave concerns about the same, while also highlighting Facebook’s own problematic history. What is missing however from the...Read More
Beating the general narrative of crypto resistance from the U.S. government, Everex, the payments and trading platform just announced the issuance of “full Money Transmitter (MSB) License” from the New Jersey Department of Banking and Insurance. The information was brought to light through Everex official Twitter handle, which read, “We’re excited to announce that New...Read More
Ripple has been touted as a disrupter in many ways to the legacy remittance service platforms; with the partnership with London-based remittance firm, Xendpay, Ripple is all set to extend the former’s initiative of ‘optional transfer fees’, where customers are given an option to waive fees with a service called Pay What You Want. According...Read More
The contentious stablecoin operator, Tether, is all set to issue a new stablecoin, CNHT, pegged to CNH, offshore Chinese Yuan Renminbi. The news was confirmed by Zhao Dong of DGroup, who spoke to ChainNews on August 21. RenrenBit, the digital asset management platform of Bitfinex shareholder, Zhao Dong, will be the first firm to invest...Read More
The ‘IAMAI Vs RBI’ case took an unexpected turn, as the Supreme Court was met with several arguments from the petitioners’ end about the RBI’s jurisdiction where the petitioner presented the court with the exchanges’ plea asking a reconsideration of the ban. Justice Nariman said Exchanges are not asking to uplift the ban, but they...Read More
The Supreme Court of India was presented with arguments that questioned Reserve Bank of India’s [RBI] jurisdiction over contemplating a ban on crypto-activity on the basis of vagueness on August 20. The case resumed its hearing on the matter on August 21, with RBI’s counsel, Shyam Divan, listing disadvantages of cryptocurrencies as highlighted in the...Read More
The virtual asset industry hardly ever remains quiet for a long period of time. However, the price of the world’s largest cryptocurrency was pretty timid, at press time. Source: trading view Bitcoin’s price went up on the back of a tremendous run which started in April, with the valuation climbing by over 180% percent. Since...Read More
R3’s Corda Settler entered into a partnership with the centralized payments network, SWIFT in January 2019. R3 also commenced testing its Corda Settler payments engine with XRP, Ripple’s native cryptocurrency. The Brad Garlinghouse-led firm is often dubbed as a potential disrupter of the SWIFT network and the collaboration has been welcomed with open arms by...Read More
Tezos [XTZ], the seventeenth-largest coin by market cap, has witnessed rapid growth from the time of its launch. Recently, Tezos surpassed DASH and stood in the fifteenth position briefly, before falling again. The price of the coin, at press time, was falling by 3.48% over the last 24 hours. At the time of writing, the...Read More
Amid the roller-coaster market, Ethereum remained the best performing altcoin since inception, signaling strong support from the skeptical community. While efforts to improve ETH’s use cases are primary attributed as one of the reasons for the crypto’s sluggish trading value, Ethereum’s Vitalik Buterin announced an update regarding the soon to expected “Istanbul hard fork.” He...Read More
In an ongoing race to ensure sustainability, crypto businesses are hiring the best brains in the crypto market. In this light, Blockstream co-founder Matt Corallo recently joined Square Crypto, the crypto arm of payments company Square. The information was made public through an official tweet from Square Crypto, which read, “BIG NEWS: Please welcome @TheBlueMatt...Read More
The cryptocurrency industry continued to mature while eliminating FOMOs and FUDs at all stages. With the FOMO-fuelled spectacular but short-lived crypto rallies and FUDs-led dumps, the industry has begun to show signs of maturity. The market started off on a slow note in 2019 after the infamous Bitcoin crash the previous year. The market, however,...Read More
While government organizations are yet to choose sides for drafting crypto-related regulations, crypto-exchanges (that predominantly serve as the front door to crypto-adoption) must keep up with changing requirements, or risk shifting to different geographies. On a similar note, Veronica McGregor, ShapeShift’s Chief Legal Officer, spoke about the ongoing regulatory chaos and how the Switzerland-based crypto-exchange...Read More
In what seems like a part of the ongoing effort toward its ecosystem’s development, Cardano Foundation announced teaming up with Messari. The official announcement stated, “We’ve joined @MessariCrypto for #Cardano to be listed in their #open-source disclosures registry to increase transparency. More details and formal announcement to follow once the listing is live.” This information...Read More
Bitcoin has been in a dilemma ever since it hit the $13,800 mark on June 26, with the price having collapsed by 30% since then. A new dilemma that has now engulfed Bitcoin is the rising wedge pattern and the direction of its breakout. Source: TradingView As seen in the chart above, the price of...Read More
After New York Attorney General, Letitia James, led the office to victory on August 19, Bitfinex has finally taken a stance against the ruling. In a document filed before the court, the exchange stated, “PLEASE TAKE NOTICE that respondents iFinex Inc., BFXNA Inc., BFXWW Inc., Tether Holdings Limited, Tether Operations Lim ited, Tether Limited, and...Read More
The Tron Foundation updated the community about recent developments in its ecosystem through its weekly report. The report highlighted the progress of Tron over the past week. The community was elated by the fact that block height had exceeded 11.86 million, while registering 1,145 nodes in Tron ecosystem. Further, real-time accounts also grew and stood...Read More
Santander Group unveiled its plan to expand services associated with Ripple technology. With the aim of building an efficient payment gateway, the bank wants to deliver services to Latin American customers so that they can carry out transactions and send the money effectively to the US without any charges. Currently, only U.K. and Spain-based customers...Read More
The ongoing crypto adoption drive has been propelled mainly by the ecosystem’s exchanges that serve as a gateway for many users across the globe. In a recent blog post that details on “ensuring the continued compliance” of the platform, BitMEX made a shocking revelation by stating, “Seychelles, Hong Kong and Bermuda will be added to...Read More
Amid the ongoing race to beat the fiat system, the crypto ecosystem is on the constant drive to include the most promising innovators in their arsenal. In this regard, Gemini, a leading cryptocurrency exchange and custodian, announced on August 19 that David Damato joined the company as the new Chief Security Officer (CSO). The acquisition...Read More
Black Manta Capital Partners (BMCP) announced the successful reception of the BaFin licence. As a result of the licence, the company will be able to “provide regulated financial brokerage services using blockchain technology in accordance with the MiFID II regime.” Based on the original press release, “With so-called Security Tokenization, BMCP converts rights to an asset...Read More
Most of the assets enjoyed a lucrative period from April to June but the controversial Bitcoin SV faced a few “hiccups” along the way. Bitcoin SV went through a tumultuous journey this year, with the coin being delisted by major exchanges like Binance and Kraken, which led to its drop in rankings as well. However,...Read More
With the recent spike in Bitcoin, whales came out of from slumber to trade. Whale Alert, one of the leading crypto transaction trackers, shared the news of the transfer of BTC on Twitter, “500 #BTC [5,354,800 USD] transferred from #Coinbase to unknown wallet.” The transaction took place in 11 confirmations between wallet address 39iNxpjCoUDRyttKhnEvrjmTUErGV3PGFd and 17RWacAg9h8UyZdWnJA28Z7AKW89JjVmDu,...Read More
From the launch of the Sun Network to retain its dominance in the DApp space and completing its incentive plan 2.0 with Tether, Justin Sun’s Tron Foundation can boast a series of development over last few weeks. Recently, TronWallet shared an update on Twitter, suggesting that Bitcoin is the latest addition to the TronWallet. The...Read More
Rakuten Wallet announced the introduction of spot trading services for the virtual asset. Earlier this year, Rakuten, an e-commerce giant in Japan, had revealed that the organization had started accepting new account registrations for its newly launched cryptocurrency exchange, Rakuten Wallet. Now, at press time, the exchange revealed that the institution would be initiating a...Read More
