Santander Joins Bank Blockade Against Coinbase in the UK: Report

Major Spanish bank Santander is reportedly ceasing to enable United Kingdom customers to deposit their fiat funds to major cryptocurrency exchange Coinbase.  An unverified source posting to Reddit on Aug. 14 claims to have been informed of the development over the phone by a  Santander representative. “Isolated to Coinbase,” not crypto in general The source alleges that having been informed over the phone, they put in a complaint with the bank’s complaints unit, which then reportedly confirmed that the client should move to an alternative bank if I wish to…

Kraken Users’ Report Difficulties With Connecting to Site and API

San Francisco-based cryptocurrency exchange Kraken’s users are experiencing difficulties with connecting to the site and application programming interface (API). In a tweet published on Aug. 13, Kraken warned the public that it is receiving reports of clients having issues connecting to the site and API. The exchange further states that it is investigating the issue and will post related update. Back in January, the Exchange Security Report from independent analysts at ICORating gave 16 percent of the world’s biggest crypto trading platforms an A rating, and none of them an…

Industry Investors Shift Focus From Crypto to Convergence Apps: Report

The year of 2019 has witnessed a shift in investments from focusing purely on digital currency to convergence applications, according to a new report from Outlier Ventures published on Aug. 13. Early stage investors shift focus The “Investment in Blockchains 2019” report, which provides insight into blockchain investment and market trends in 2019, states that blockchain-focused companies have secured $23.7 billion since 2013. Increased interest among early stage investors ostensibly results from massive returns from early investments in Bitcoin (BTC) and Ether (ETH). Per the study, there has been a…

15 Countries to Develop Crypto Transaction Tracking System: Report

About 15 global jurisdictions, including the G7 countries, will reportedly develop a system for tracking crypto transactions to prevent illicit uses of cryptocurrencies. The Financial Action Task Force (FATF) is planning to prepare detailed measures by 2020, according to a report by Tokyo-based newspaper Nikkei on Aug. 9. The new system intends to collect and distribute personal data on individuals who conduct crypto transactions in order to prevent funds from being used for illegal activities such as money laundering and terrorism financing, the report notes.  While a number of global…

Blockchain Solution Spending to Hit $16 Billion by 2023: IDC Report

Worldwide spending on blockchain solutions is expected to hit almost $16 billion in 2023.  A new report published on Aug. 8 by United States-based market research firm International Data Corporation (IDC) forecast that overall spending on the technology will reach $15.9 billion in 2023, at a five-year compound annual growth rate (CAGR) of 60.2% between 2018-2023. Blockchain spending in 2019 to rise 80% IDC’s Worldwide Semiannual Blockchain Spending Guide provides an analysis of spending data for the blockchain sector from a regional, vertical industry, use case, buyer and technology perspective.…

Chinese Gov’t Hackers Are Targeting Crypto Companies: Report

Chinese state hackers are performing attacks against cryptocurrency and video game enterprises, cybersecurity company FireEye claims in a report published on Aug. 2. Chinese government facilitating hacking operations Per the report, Chinese state espionage cyber unit APT41 “targets industries in a manner generally aligned with China’s Five-Year economic development plans.” Still, FireEye researchers claim that “the group is also deployed to gather intelligence ahead of imminent events, such as mergers and acquisitions and political events.” Industries targeted by the unit reportedly include healthcare, high technology (semiconductors, batteries, and electric vehicles),…

Major Coins Report Mixed Signals, Bitcoin Hovers Around $11,700

Tuesday, Aug. 6 — Major cryptocurrency markets have continued suffering losses over the past several hours as Bitcoin (BTC) has come back down to around $11,700 after a jump to $12,300 earlier today. Market visualization. Source: Coin360 BTC has effectively returned to its level of 24 hours ago to trade at around $11,759 at press time. During the past day, BTC has been trading in a narrow corridor between $11,020 and $12,239 — the coin’s highest price point on the day. Today, former Wall Street trader Max Keiser claimed that…

Four Crypto Exchanges Face Stricter Regulation in South Korea: Report

Four South Korean cryptocurrency exchanges are reportedly facing stricter regulation as they aim to renew their banking accounts. As local industry media TheBchain reports on July 29, the new requirements come after the Financial Action Task Force (FATF) released recommendations on virtual currency regulations. Per the report, South Korean cryptocurrency exchanges Bithumb, Upbit, Coinone and Korbit will have to comply with new, stricter norms to successfully renew their banking partnerships following the FATF guidance released in June. As Cointelegraph reported at the time, the new guidance posits that crypto asset…

Venezuela Turned Airport Taxes Into Bitcoin to Avoid Sanctions: Report

Venezuelan President Nicolás Maduro and his administration appear to be leveraging tax revenue and cryptocurrencies as part of a broader effort to evade economic sanctions, an investigation by Spanish newspaper ABC has found. As detailed in a story published Monday, the newspaper asserts it uncovered a scheme by which Maduro and his associates were using a digital wallet app to turn tax revenue from domestic airports into bitcoin and other cryptocurrencies that were then transferred to exchanges in Hong Kong, Hungary, Russia and China. There, the funds were converted and sent back to…

Crypto Markets Report Gains, Bitcoin Trades Near $10,000 Mark

Thursday, July 25 — After breaking its psychological price point of $10,000 earlier today, Bitcoin (BTC) has been hovering around the position during the day, with other major cryptocurrencies also trading in the green. Market visualization. Source: Coin360 Bitcoin has seen an increase of nearly 3.61% on the day, and is trading at $9,987 as of press time. Bitcoin started the day at around $9,815 and subsequently saw a spike to $10,192 marking the daily high as of press time. As a sign of further adoption, a new political action…