News

Recently, the Bank of Japan’s deputy governor claimed that advanced economies do not need central bank digital currencies (CBDCs).  He spoke at the Future of Payments Forum, organized by the Bank for International Settlement. Amamiya said that CBDCs are a tremendous financial system for developing countries, especially the ones with immature payment infrastructures. Nevertheless, he claimed that advanced technologies cannot benefit from virtual currencies. Why Amamiya is Against Digital Currencies Amamiya said that it is unnecessary to implement new steps…

Coronavirus is set to impact the cryptocurrency market for the foreseeable future. The jury is still out on how quickly Bitcoin and other digital assets will recover from the current viral outbreak in the long run. However, we can get a glimpse into the future if we look into how other epidemics affected global financial markets. How much do widespread diseases derail markets, and will Covid-19 infect Bitcoin? We aim to give a preliminary assessment of the Coronavirus's potential impact…

The finance and the economics department of the UK recently strengthened measures to curb the risks associated with cryptocurrencies. Therese Chambers, the Director of Retail and Regulatory Investigations, revealed the new regulations in a speech on the 6th of March 2020. Chambers noted that the UK’s Financial Conduct Authority (FCA) is the official overseer of the Anti-Money Laundering for some crypto objectives, as per the new Money Laundering Regulations (MLR). Chambers Speech on Cryptocurrency Regulations Chambers noted that the UK’s…

Recently, an investor filed a lawsuit against Canaan, a Bitcoin mining company, for allegedly breaking U.S securities laws during its IPO. Canaan filed its Initial Public Offering with the SEC last November and targeted to raise over $400 million.  Nevertheless, Canaan raised only $90 million after listing on the Nasdaq Global Marketplace. Phillippe Lemieux, an investor in Canaan, filed a class-action lawsuit claiming that the company violated the Securities Act of 1933.  More Details on Why the Investor Sued Canaan…

In February 2020, Bitcoin mining difficulty lowered by 0.38%, and it may be partly a result of government quarantine against the coronavirus in China; hence the mining delays. Despite the decrease, the hash rate during the period posted strong performance and even hit an all-time high of 136 EH/s. Miners expect the total network difficulty rate to bounce back by over 10% on March 10, as hardware delivery slowdown caused by the coronavirus outbreak abates. Since mid-February, the Chinese government…

India’s central bank (RBI) is planning to file a review petition on the Supreme Court’s ruling that, the banking ban on crypto was unconstitutional. Last Wednesday, the Supreme Court of India, in its ruling lifted the banking ban on cryptocurrencies. The RBI, had in April 2018, issued a circular to prohibit all banks from providing any services to crypto-related businesses. However, according to a report from Economic Times, the RBI is planning to file a review petition on the Supreme Court ruling against the central…

On 6th March 2020, Cointelegraph reported that the Figer group, the highly acclaimed Brazilian sports management company, has launched OLE sports. OLE sports is a blockchain-based platform set to tokenize soccer players globally. Andre Figer, The Figer Group's Vice President, said that Olecoin would be a sign of hope for new soccer players, seeing that the majority of them drop their dreams despite being highly talented, due to lack of funds. Figer Group will make its digital token Olecoin available…

On March 4, Chiliz revealed their new partnership with blockchain platform Chainlink, to allow the formation of a real-time Non-fungible token(NFTs). According to the announcement, Chiliz will now be able to utilize Chainlink’s network to trigger the execution of smart contracts based on real-time data and events. This integration will make it possible for Chiliz mint NFTs for partners in real-time, using securely provided data available on Chainlink’s network. Moreover, Chiliz looks forward to launching a Chainlink Price Reference Contract…

Ledger Live is a malicious Chrome extension that was discovered on the 5th of March 2020 by MyCrypto's Director of Security, Harry Denley. Users who download the extension can potentially have their Ledger wallets' recovery seeds stolen by it. In an official Tweet, Ledger Support issued a warning regarding this fake Chrome extension on the same day of its discovery. Ledger Live App The similarly named original Ledger Live app is a legitimate mobile and desktop app available to Ledger…