Blockchain 

Venezuela Sets New Bitcoin Volume Record Thanks to 10,000,000% Inflation

Venezuelans traded more bolivars for Bitcoin (BTC) than ever before last week, but the statistics say more about fiat than cryptocurrency.  Yet another Bitcoin volumes record for Venezuela Data from Coin Dance, which tracks trading activity on P2P exchanges Localbitcoins, Paxful and Bisq, confirmed the seven days to July 20 were Venezuela’s biggest on record. During that period, users on Localbitcoins alone generated volumes of over 57 billion bolivars, beating the previous all-time high of 49 billion, which appeared in the previous week.  As Cointelegraph reported, Venezuela’s currency continues to…

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Ethereum 

Bitstamp Crypto Exchange Sets Up Lightning Network Node

European crypto exchange Bitstamp has set up its own Lightning Network (LN) node to boost the network’s capabilities, the company tweeted on July 8. As a second layer over the blockchain of the biggest cryptocurrency, bitcoin (BTC), the LN is designed to enable fast and zero-fee transactions by creating payment channels between users. Specifically, the network aims to address bitcoin’s scalability problem by keeping the majority of transactions off-chain. By launching its own LN node, Bitstamp aims to promote the growth of the network, as well as encourage the crypto…

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Ethereum 

Senate Banking Committee Sets Hearing on Facebook’s Crypto for July 16

The Banking Committee of the United States Senate will hear testimony on Facebook’s Libra cryptocurrency project on July 16, economic news site MarketWatch reports on June 19. The social media giant released the white paper for its Libra token yesterday.  The stablecoin, will operate on a native eponymous blockchain, and will be backed by a basket of reserve assets “designed to give it intrinsic value” and mitigate volatility fluctuations.   Following the release of the project, U.S. regulators expressed their concern about the project’s possible effects on financial stability. Rep.…

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Blockchain 

Blockchain Platform for Content Creators and Fans Sets Out Plan for Gaining Global Reach

A blockchain-powered platform that allows content creators to reach its fans directly says it is broadening the choice of music, illustrations and webtoons it has on offer — improving both quality and quantity ahead of its launch. The debut of ContentsDeal has suffered from delays, but the company says its team is determined to get its offering online as soon as possible. Already, the platform says it has attracted an impressive ensemble of artists from South Korea and around the world — giving creatives a way of broadcasting their content…

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Bitcoin 

Why ATB Coin’s Legal Encounter Sets Precedent in New York for Future Securities Violations

If there’s anything to take away from this federal class-action suit, it’s that this new opinion on ATB Coin provides further guidance on when a token might be considered a security under securities law in the United States. For those with a legal background, this piece is set up in a similar way to a case brief you probably remember from law school. But even without a legal background, here’s some guidelines on how to read this. A traditional case brief outlines the factual background, issues, rule of law, and…

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Bitcoin 

SBI Group Sets Up Spin-Off to Manufacture Crypto Mining Chips

Japanese financial giant SBI Group has created a dedicated subsidiary that will manufacture cryptocurrency mining chips, the company confirmed in a notice on March 22. SBI, which has launched spin-offs covering various aspects of the cryptocurrency industry, now says it wishes to expand its influence in the mining sector through the creation of SBI Mining Chip Co., Ltd. (SBIMC). The company will join industry stalwart manufacturers, chief among which is Bitmain, which released its latest product this week. “The SBI Group strongly promote [sic] on a wide range of businesses…

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Bitcoin 

Fidelity Sets March Launch Date for Bitcoin Custody Service

American investment firm Fidelity, which administers over $7.2 trillion in client assets, will purportedly launch its Bitcoin (BTC) custody offering in March, Bloomberg reports on Jan. 29 Citing unnamed sources familiar with the matter, Bloomberg states that this is the next step in a plan that started in October 2018, when Fidelity announced the launch of a new company, Fidelity Digital Asset Services. The new company will purportedly offer custody and trade execution services for digital assets, targeting institutional investors like “hedge funds, family offices and market intermediaries,” but will…

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Bitcoin 

SEC Delays Decision on Bitcoin ETF, Sets Deadline for Late February

The United States Securities and Exchange Commission (SEC) has again postponed its decision on the first ever Bitcoin (BTC) Exchange-Traded Fund (ETF), according to an official document published Thursday, Dec. 6. The SEC set the new deadline for Feb. 27, 2019 in order to further review the rule change proposals to list a Bitcoin ETF by investment firm VanEck and blockchain company SolidX on the Chicago Board Options Exchange (CBOE): “The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the…

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