Ex-PBoC Governor Urges China to Join Global Conversation on Libra

A former senior official with the People’s Bank of China (PBoC) believes the nation should join a global conversation about regulating stablecoins, with a particular focus on the Libra stablecoin. Min Zhu, former deputy governor at the PBoC, said China should join other nations in regulating the Facebook-led Libra stablecoin, according to a report by South China Morning Post.  “I think it’s critically important to join the discussions and take part in coordinated global regulation of Libra,” Zhu said, noting there is still no specific timeline to launching the digital…

Uphold Introduces Commission-Free Trading for Users

Trading platform Uphold is now offering commission-free cryptocurrency trading, the company announced Tuesday.  Following in the footsteps of companies like Schwab and TD Ameritrade that have made trading free of commissions for customers in the traditional markets. Uphold CEO JP Thieriot said the move was based on Uphold’s ability to net trades at a lower cost after gaining more liquidity providers. “In the old paradigm you charged a spread and a fee,” he said. “Now, the fee part has gone away, there’s a spread on anything that’s traded. We’ve gotten…

Roger Ver’s Mining Pool Pulls Support for Bitcoin Cash Dev Fund Over Chain Split Threat

Mining pool Bitcoin.com will not now support the controversial bitcoin cash development fund proposal without broader agreement from the community. In a blog post published earlier on Tuesday, Bitcoin.com said it would no longer back the existing plan for a dev fund unveiled last week by the CEO of mining pool BTC.TOP, Jiang Zhuoer. “Bitcoin.com will not risk a chain split or a change to the underlying economics,” reads the Bitcoin.com blog post. “Any proposal will need to have as many people of economic weight on-board as possible, including businesses,…

British Court Freezes $860,000 in Bitcoin Linked to Ransomware Payout

A U.K. court has ordered Bitfinex to freeze bitcoin worth $860,000 after the crypto exchange and blockchain sleuthing firm Chainalysis traced the funds to a ransomware payment. The victim of the ransomware attack had paid $950,000 in bitcoin to the perpetrator through an insurance company, according to a filing published last week by the England and Wales High Court (Commercial Court) and first reported by New Money Review. While some of the bitcoin was converted into fiat currency, the remainder appears to have been sent to an address on the…

Gemini Hires Former Circle Compliance Officer to Oversee European Market

Cryptocurrency exchange Gemini has hired former Circle compliance officer Blair Halliday as chief compliance officer and money-laundering reporting officer for the U.K. and Europe, the company announced Tuesday. Halliday will report to Gemini’s managing director of U.K. and Europe, Julian Sawyer, and will work closely with the firm’s NYC-based chief compliance officer, Noah Perlman, who was formerly global head of financial crimes at Morgan Stanley. The move comes as ramped-up regulations go into effect with the European Union’s Fifth Anti-Money Laundering Directive (AMLD5), which requires crypto firms to demonstrate compliance…

Crypto News Roundup for Jan. 27, 2020

Whether you’re a first-time listener or you’ve heard every episode, we’d like to know what you think about the show. What do you like? What don’t you like? What do you think we’ve totally missed but should be talking about every day or at least every week?  Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and…

What Are Lightning Wallets Doing to Help Onboard New Users?

The best Sundays are for long reads and deep conversations. Earlier this week, the Let’s Talk Bitcoin! Show gathered to discuss Lightning Network technology and two innovative approaches at the wallet level which simplify the new-user experience at a tangible, but seemingly minimal cost.  Subscribe to the new CoinDesk Podcast Network for fresh, insightful episodes nearly every day of the week In today’s podcast we zero in on the challenge of “Channel Management”, an until-recently-mandatory and manually-managed part of connecting to and utilizing the still-nascent Lightning Network. A little context:…

Major Australian Exchange Expands to Singapore for Crypto-Friendly Regs

Independent Reserve, one of the largest cryptocurrency exchanges in Australia, is expanding to Singapore after an “overwhelmingly positive” response from the regulator. Adrian Przelozny, CEO and founder of the Sydney-based exchange, announced Friday it had expanded its trading services to users in Singapore, saying in a statement that his team “felt the time was right to make this move.” Przelozny referenced “a number of positive moves by Singaporean regulators” as part of his reasoning. Independent Reserve offers a host of retail and institutional trading features, including a spot marketplace and…

Crypto News Roundup and Interviews for Jan. 24, 2020

In addition to our news roundup, for the next few episodes we’ll also be highlighting select interviews from the CoinDesk crew reporting inside the World Economic Forum in Davos, Switzerland.  Today, we’ll hear from former Monero head “Fluffypony” and more from cypherpunk Harry Halpin. Listen or subscribe with your preferred service: Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group,…

Japanese Lawmakers Will Propose Digital Yen to Counter Libra, China: Report

Politicians from Japan’s ruling Liberal Democratic Party plan to propose the nation issues its own digital currency. According to a Reuters report on Friday, about 70 lawmakers from the party feel a digital yen is needed to counter the approaching launches of Libra and China’s digital currency. The effort – aimed to keep Japan at the forefront of fintech innovation – would be a joint project between the government and the private sector, Parliamentary Vice Minister for Foreign Affairs Norihiro Nakayama told the news agency. “China is moving toward issuing…