Author: Crypto Breaking News

“Regulators would be wise to avoid the chainsaw when microsurgery could do” when it comes to blockchain technology, says author Don Tapscott. Tapscott, the co-founder and executive director of the Blockchain Research Institute (BRI) – a multi-million dollar global blockchain think tank – published a report Wednesday calling for increased regulatory clarity on blockchain and cryptocurrencies. The report also recounts the takeaways from a roundtable discussion held in May on cryptocurrency regulation. The report identifies the four “core issues” of regulatory oversight as being a lack of regulatory clarity, obsolete statutes, a lack of dialogue between both regulators and other stakeholders,…

Governor John Kasich from the Midwestern state of Ohio signed a bill this week that formally recognizes data recorded on a blockchain and electronic signatures as having legal bearing in a court of law. The state joins Vermont and Arizona, two states that have already passed laws that recognize blockchain-based transactions. Also read: Philippines Building Crypto Valley of Asia Blockchain Records Now Recognized in Ohio Law Lately, politicians from many of the states in the US have been talking about how to handle blockchain technology and cryptocurrency transactions. About a month ago bureaucrats from Ohio ushered in a new bill (SB300)…

A Chinese cryptocurrency trader who was sent bitcoin in error must repay an exchange even if it broke domestic rules, a Beijing court has ruled. In a judgement made on July 31 and released on Thursday, an intermediate Beijing court upheld a decision made by a district court early this year that a bitcoin trader named Li Jianfeng must return the proceeds he received from selling five bitcoins he obtained by accident. The case reportedly stemmed from a system bug on a then China-based bitcoin exchange named Coinnice, which issued the bitcoins to Li on March 10, 2017. Based on the…

UK regulator the Financial Conduct Authority (FCA) has issued a second warning in a week Wednesday, August 8, over crypto-related “fraudsters” claiming to be an FCA authorized firm. Further details of this story will be published shortly. Source: Cointelegraph.com

Bitcoin’s boom has spawned more than just a digital currency revolution. Companies across the globe have explored the potential of blockchain technology in a range of different spheres, including cars, phones, and a multitude of disruptive alternatives in banking, government and as well as shipping. Also, it is not only the small startups that are trying to push blockchain innovation, but rather conglomerates as big as Amazon, Alibaba and Microsoft. However, these companies are still trying to negotiate an ever-expanding regulatory framework that is growing at different rates across different states. Many different companies began springing up within the cryptocurrency…

There’s been a storm brewing all year on social media and this week it hit with a vengeance. Wave after wave of protest has lashed the ocean liners Twitter, Youtube, Apple, and Facebook after controversial passengers were forcibly ejected for speaking out of turn. As the censorship cyclone has intensified, cryptocurrency users have begun fleeing to safer havens, with Mastodon and Gab the leading the charge. Also read: Decentralized Apps Might Be the Future but They’re Not the Present Censorship Aboard the Good Ship Social Media For the left, the right, and everyone caught in the middle, it’s been a wild…

Microsoft has rolled out a new ethereum consensus mechanism called “proof-of-authority” – a move that removes the traditional cryptocurrency mining process for institutions using its Azure platform to deploy private blockchains. Called “proof-of-authority,” the new mechanism notably replaces the proof-of-work mining process that is common in public blockchains. However, it is only applicablein a permissioned network scenario – that is, on private or consortium blockchains where only invited parties may participate as nodes, Azure software engineer Cody Born wrote in a post on Tuesday. The launch of the new mechanism allows institutional clients to verify transactions more efficiently and maintains high levels of…

In today’s edition of Bitcoin in Brief we cover stories about Shapeshift acquiring Bitfract, Bitmain investing in Tribeos, a dozen regulators from around the world setting up a global fintech sandbox and an ICO mogul reportedly buying a soccer team. Also Read: Crypto Tax App Libra Raises $15M in Series B Funding Shapeshift Acquires Bitfract Shapeshift AG has announced the acquisition of Bitfract, an Austin, Texas-based software firm which recently developed a service that allows users to swap from one cryptocurrency to many in an instant. Following the sale, the tool will be maintained and continue to operate, and the…

IBM and shipping giant Maersk have recruited a sturdy crew for their global trade blockchain platform. Revealed Wednesday, the companies have already signed up more than 90 firms for the platform since it was spun off from Maersk in January. They have also finally given it a name: TradeLens. Leveraging Maersk’s leviathan-like scale, TradeLens has attracted a wide variety of entities, ranging from dozens of port operators and customs authorities to logistics companies and even rival ocean-going carriers, such as Pacific International Lines, all of whom have been testing the platform. The pilot stage now complete, TradeLens is available for participation…

Bitcoin (BTC) could defend the immediate support of $6,000 in the short-term as the recent downtrend is looking overstretched, according to technical studies. The world’s largest cryptocurrency by market capitalization fell for the third straight day on Wednesday to hit a three-week low of $6,121 on Bitfinex and was last seen trading at $6,320 – down 26 percent from the July 24 high of $8,507. Notably, almost half of the 26 percent drop witnessed in the last two weeks has happened in the last 48 hours, which indicates the investors have been left unimpressed by the US Securities and Exchange…