Report From Former CFTC Chairman Calls for Advanced Crypto Regulations

A recent report published for the Brookings Institution is calling for enhanced regulations on cryptocurrencies. The report was authored by Harvard University fellow Timothy Massad, who served as chairman of the United States Commodity Futures Trading Commission (CFTC) during the administration of Pres. Barack Obama. The report dubbed “It’s time to strengthen the regulation of crypto-assets” addresses the purported need for better regulation on digital currencies, the illicit use of cryptocurrencies, as well as measures for reducing the risk of cyber attacks. The report also provides direct recommendations of how…

Major Cryptocurrencies See Slight Gains, Palladium Hits $1,600 for The First Time

Tuesday, March 19 — cryptocurrency markets are mostly trading in the green zone, with Bitcoin (BTC) hovering above the $4,000 mark. Market visualization from Coin360 During the day, BTC has been trading in a narrow corridor between $4,031 and $4,082. At press time, the leading coin is trading at around $4,059, up around 0.62 percent on the day. Today, major cryptocurrency exchange Binance announced that its new service “Binance Lite” will enable the exchange’s Australian customers to purchase Bitcoin with fiat currency from supported newsagents. Bitcoin 7-day price chart. Source:…

Kakao Affiliate Dunamu Launches Blockchain Service Platform

Dunamu, the fintech arm of South Korea’s largest Internet corporation Kakao, is reportedly launching a blockchain service platform designed to help companies start businesses using blockchain. Korea’s JoongAng Daily reported the news on March 19. The platform, which is called Luniverse and supervised by blockchain technology research lab Lambda256, is geared to help IT startups develop blockchain-based services. The platform reportedly has a high level of security and an automated scaling function, that can adjust blockchain sizes in accordance with the amount of data stored on it. To implement the…

Silvergate Bank Adds 59 Crypto Clients, But Deposits Down $123 Million

Silvergate Bank, one of the few U.S. financial institutions that actively serve cryptocurrency businesses, added 59 such clients in the fourth quarter, but its deposits from the industry shrank 8 percent. According to an updated IPO prospectus filed with the Securities and Exchange Commission, as of Dec. 31, the San Diego-based bank had 542 clients in the industry, including crypto exchanges, institutional investors in digital assets, and others. That’s up from the 483 crypto clients as of Sept. 30 that Silvergate counted when it first filed to go public last year.…

Shenzhen Issues Country’s First Subway Electronic Invoices Backed With Blockchain

China‘s first blockchain-based electronic invoice for a subway ride was issued at the Futian Station of the Shenzhen Metro, local finance publication Securities Daily reports on March 18. Shenzhen is the first economic special zone in China. The e-invoice function is the jointly developed project of the Shenzhen Municipal Taxation Bureau and Chinese tech giant Tencent, which provided the blockchain technology back-up through its 1 billion user social media platform WeChat.    As the publication states, after the end of each trip, the Shenzhen Metro passenger code can be seen…

BitGo Launches Custody for Blockchain Capital’s Security Token BCAP

Blockchain security firm and wallet service BitGo has announced support for Blockchain Capital’s ERC-20 token, according to a press release shared with Cointelegraph on March 19. Blockchain Capital’s BCAP token is a security token based on the Ethereum (ETH) blockchain that was launched in a $10 million initial coin offering (ICO) back in April 2017. BCAP represents an indirect economic interest to the limited partnership interest in the tokenized investment fund, and is the world’s first security token that was sold in an ICO. According to the recent BitGo announcement,…

Clients Take Crypto Fund Manager to Court, Cite $14.2 Million in Losses

The founder of what reportedly claims to be Australia’s first online mattress retailer OzMattress and cryptocurrency fund manager Stefanos Papanastasiou is about to be brought to court by his clients over the loss of over AUD$20 million ($14.2 million). Daily Australian newspaper The Age reported about the controversy on March 19. Per the report, Papanastasiou told his clients in 2017 that he had spent half a million Australian dollars ($355,000) to develop an algorithm that delivers substantial returns through the trading of Bitcoin (BTC) and Ethereum (ETH)-based tokens. According to…

QuadrigaCX Co-Founder Michael Patryn Is Actually Convicted Criminal Omar Dhanani: Report

A co-founder of controversial QuadrigaCX exchange was reportedly involved in multiple criminal activities in the past, Bloomberg reports on March 19. Michael Patryn, who co-founded Canadian crypto exchange QuadrigaCX along with Gerald Cotten in 2013, was previously known as Omar Dhanani, a person that was involved in multiple crimes in the United States, Bloomberg states. $145 million in clients’ crypto assets was found to be missing from the QuadrigaCX exchange after its co-founder and CEO Cotten died at the age of 30 from complications of Crohn’s disease in December 2018.…

Ethereum (ETH) A Strong Buy According to Joseph Lubin of Consensys

Ethereum prices bullish above $135 Joseph Lubin expects prices to rally Volumes low, dropped by half in the last week Weeks after retrenching staff, Consensys CEO is confident that ETH prices will surge 1000X. This is partly thanks to the launching of Ethereum 2.0 and prospects of dealing with scalability. Therefore, that means there is a huge Ethereum (ETH) undervaluation. Ethereum Price Analysis Fundamentals Consensys is the Brooklyn-based software-production studio that is backed by Joseph Lubin. Joseph is one of the top contributors of Ethereum. Months after announcing plans of…

$50 Billion VanEck: Don’t Worry

VanEck, the major New York City exchange-traded fund (ETF) provider with $47 billion worth of assets under management, remains confident that despite its fall from above $19,500 to its current mark near $4,000, “Bitcoin is not going away.” Bitcoin’s Hitting Singles – Not Home Runs In a note to investors Monday, the company’s Director for Digital Asset Strategy at VanEck, Gabor Gurbacs, said that rather than expecting a decisive breakthrough or big “home run” for cryptocurrencies in 2019, look for the industry to continue hitting a number of “singles” with…