News

A full parliamentary Assembly session in South Korea has passed an amendment to the Act on Reporting and Use of Specific Financial Information. This is according to a local news report In light of this amendment, the trading of crypto can now be incorporated into the South Korean legal system for it is legitimate. South President Jae-in Moon has signed it paving the way for the bill to become law of the land. The approval process should begin in about…

BitGo, a crypto custody provider, will be launching an institutional-level crypto lending service. According to a 5th March 2020 announcement, this new venture named “BitGo Prime LCC” will be incorporated as a separate legal entity. BitGo Project's Business Interests BitGo's head of financial Services, Nick Carmi gave more details on this venture. This crypto lending platform shall aim to provide services to the credit market in a similar manner as more traditional financial markets. He believes this new venture shall…

Square Crypto, announced the awarding of new grants to 2 BTC developers as per a Medium post. This Bitcoin development initiative is a product release of Square Inc, owned by Jack Dorsey.  A Bitcoin Core contributor and protocol researcher, Jon Atack, and the prominent BTC developer, Tankred Hase are the recipients of these grants. Hase has been working on enhancing the user experience while simplifying the self-custody of smaller amounts of BTC. The developers are to utilize the grants towards…

A stern warning by the incoming governor of the Bank of England, Andrew Bailey, has been issued against investing in Bitcoin. In a 4th March 2020 Address to the UK's members of parliament, Bailey said that Bitcoin lacks any intrinsic value. Anyone investing in Bitcoin must thus be prepared to lose all their funds. He chipped at the failure of Bitcoin to live up to its expectation of widespread adoption. The incoming governor starts his duty as the new head…

The bitcoin stock-to-flow model creator, Plan B, is confident that the coin's price will stay around $10,000 after the halving. He is even more optimistic of its future price, expecting a gradual climb to the $100,000 model value by December 2020. The stock-to-flow (S2F) model aims to make predictions of the Bitcoin (BTC) price based on its supply cuts. Many investors, however, criticize this, holding the view that BTCs price is rather demand-driven. Regardless of the criticism, a host of…

On 3rd March 2020, the Financial Conduct Authority (FCA) sent a warning against Kraken, the Us-based crypto exchange, following the allegations of illegally operating in the United Kingdom. While responding to the allegations, Kraken.com claimed FCA was wrong to mention their name as the warning was supposed to target a scammer. Kraken is highly acclaimed as the largest bitcoin exchange in liquidity and volume of transactions in Euros. it is the leading exchange for the BTC/EUR trading pair. FCA’s Judgement…

For privacy and security purposes, the Exodus 5G Hub harbours services like VPN and crypto-oriented Brave browser. Nevertheless, the feature that genuinely makes the new HTC release stand out is its ability to directly run a Bitcoin node. Additionally, this new product is set to help users manage their cryptocurrency holdings with the backing of the topnotch Zion Vault wallet. The Vault, which comes as a pre-installed app on HTC Exodus, supports several coins including Bitcoin (BTC), Binance Coin (BNB)…

The leading Decentralized finance (DeFi) player, MakerDAO has recently announced a partnership with Simplex, one of the leading payment solutions providers. This announcement was according to a recent tweet by those in the know. The partnership aims to create a fiat on-ramp for MakerDAO’s stablecoin, DAI. Clients will be able to purchase DAI through their credit and debit cards thanks to a solution offered by Simplex. MakerDAO is a giant in the DeFi space. The company behind the Dai decentralized…

Facebook has revealed its intentions to make some key re-designing of its Libra project. The 3rd March 2020 announcement aims to make the network compatible with multiple coins, including some issued by various central banks. This effort is an attempt to entice reluctant financial regulators in Europe and the US as well as revitalize its project's momentum. Libra Reorganizes Due To Opposition  At the dawn of the Libra project's launch, the social media giant outlined the project's main goal as…