Bitcoin 

Traditional Exchanges Pull Back From Reg A+ IPOs Due to Fraud Concerns

Traditional exchanges are holding off on Reg A+ initial public offerings (IPOs) following problematic offerings like that of purported cryptocurrency firm Longfin Corp., the Wall Street Journal (WSJ) reported on June 10. Earlier in June, the United States Securities and Exchange Commission’s (SEC) filed fraud charges against Longfin. The SEC claimed that Longfin fabricated 90% of its revenue and sold over 400,000 shares of Longfin that it did not have the funds to back in a scheme to secure its spot on the Nasdaq. The complaint also reportedly stated that…

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Blockchain 

USC Project Seeks to Disrupt Traditional Wholesale Banking

On June 3, the Utility Settlement Coin (USC) project, one of the most ambitious crypto-based initiatives in mainstream finance, announced that it had taken the next step in its progression: the creation of a new company called Fnality International and the completion of a 50 million British pound ($63.2 million) Series A financing round. The momentum for USC has been growing since 2015, when the initiative was launched by financial giants UBS, BNY Mellon, NEX, Santander and Deutsche Bank, along with blockchain startup Clearmatics. It’s important to note that USC…

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Blockchain 

Crypto Custodians Foresee Growth in Partnerships with Traditional Custodians

Alexandre Kech, CEO of Onchain Custodian, predicted that collaboration between crypto and traditional custodians will grow.  Kech’s remarks came during a panel called “Custody: The New Global Competitive Landscape,” part of Consensus 2019 on May 14. Kech observed that crypto custodians are much better at adding new token support to their wallets and are willing to hold a variety of crypto assets. “We have the agility, both in terms of compliance and technology, to deploy those coins way faster.” By Kech’s reasoning, traditional custodians are often reluctant to take on…

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Bitcoin 

Robinhood Applies for Charter in Push to Offer Traditional Banking Services

Stock and crypto trading platform Robinhood has applied for a bank charter with regulators in the United States, S&P Global Market Intelligence reported on April 19. According to a statement, Robinhood says securing approval from the Office of the Comptroller of the Currency would be a first step towards being able to offer traditional banking products and services. Any full-service bank would likely operate alongside its mobile-focused trading arm, which enables users to trade cryptocurrencies, funds and options on their phones and desktops. Last year, it was estimated that five million users were trading crypto…

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Ethereum 

BTC Holds Above $5,000, Traditional Markets See Mixed Signals

Tuesday, April 9 — As major cryptocurrencies are trading sideways, Bitcoin (BTC) is holding above the $5,200 mark despite a minor decline in price. Meanwhile, traditional markets are down as United States president Donald Trump has threatened to impose $11 billion in duties on European goods. Market visualization from Coin360 BTC is trading sideways over $5,200 after breaking the $5,300 mark yesterday. Mati Greenspan, senior market analyst at eToro, told Cointelegraph that the world’s top coin is now testing a new resistance line: “We’re now testing a new resistance line…

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Ethereum 

Bitcoin Briefly Breaks New $5,300 Support as Traditional Markets Grow

Monday, April 8 — Bitcoin (BTC) and Ethereum (ETH) have continued gaining momentum, while most of the top 20 coins by market cap have plunged in the red today. Ontology (ONT) and Bitcoin Cash (BCH) are seeing the biggest losses out of the top 20 coins, down 7.6 and 6.4 percent over the past 24 hours at press time, according to CoinMarketCap. Market visualization from Coin360 The largest cryptocurrency, Bitcoin, has continued to climb today, with its price reaching as high as $5,315 earlier in the day. At press time,…

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Blockchain 

Lucid Sight Raises $6 Million to Bring Its DLT-Powered Games to Traditional Platforms

Blockchain games developer Lucid Sight has raised $6 million to expand its digital scarcity-powered games to traditional game platforms, tech news website VentureBeat reports April 2. Los Angeles-based Lucid Sight now has $11 million in funding to expand offerings of its digital ownership games company by bridging the gap between blockchain and traditional gaming. Leading investment bank and wealth management firm Salem Partners participated in the new funding round, as well as crypto and blockchain venture capital funds such as Digital Currency Group and the Galaxy EOS VC Fund. According…

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Blockchain 

Swiss FinTech Sector Grows, While Traditional Banks Decline

A new study shows that the fintech sector in Switzerland continues to grow, while traditional financial institutions are stagnating. The report was published by SwissBanking on April 1. The report dubbed “IFZ FinTech Study 2019” was prepared by the Lucerne University of Applied Studies with an aim to show developments in the fintech industry in 2018 and analyze how banks position themselves vis-avis the fintech industry. Per the report, the Swiss fintech sector showed significant growth in 2018. With 356 active companies by the end of the year, the industry…

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Bitcoin 

Bitcoin Unable to Solve Problems of Traditional Payment Systems

An official from Spain’s central bank, the Bank of Spain (BDE) believes that Bitcoin (BTC) is unable to resolve the problems faced by major payment systems. BDE’s Deputy General Director for financial innovations and market infrastructure, Carlos Colesa, gave his opinion on the leading cryptocurrency in a report published on Sunday, Feb. 17. The study dubbed “Bitcoin: a solution for payment systems or a solution in search of a problem?,” is marked as an “occasional paper,” according to Cointelegraph en Español. This  means that the Bank of Spain does not…

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Blockchain 

Smart Contracts Don’t Necessarily Disrupt Traditional Contract Law, Expert Argues

Blockchain-based smart contracts indubitably fall subject to private international law, a legal expert has argued in a post published to Oxford University’s Business Law Blog today, Jan. 23. Giesela Rühl — a professor of Private International Law and co-director of the Centre for European Studies at the Friedrich Schiller University in Jena, Germany — entitled her analysis “The Law Applicable to Smart Contracts, or Much Ado About Nothing?” As the title implies, the report argues that the presumed friction between smart contracts and established legal precedent may be over-exaggerated. Professor…

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