New Version of Crypto Bill Will Let Privately Held Firms ‘Digitize’ Shares

The long-awaited Russian draft bill on cryptocurrency and blockchain regulation will let privately held businesses and legal entities “digitize” their shares and store them via blockchain, local media outlet Vedomosti reported Oct. 21. As per the new edition of the draft bill “On Digital Financial Assets,” obtained by Vedomosti, the Russian State Duma is planning to allow owners of privately held companies to create and sell so-called “digital financial assets (DFA)” that act as digitized equity for the company. DFA data will reportedly be verified by the Russian Central Bank…

Visa Set to Launch Blockchain-Based Digital Identity System with IBM in Q1 2019

Visa is readying its blockchain-based digital identity system for cross-border payments for launch in the first quarter of 2019, according to a press release published October 21. The system, dubbed Visa B2B Connect, will provide a blockchain-based digital identity solution for financial institutions to securely process cross-border payments. The system reportedly tokenizes sensitive business data – such as banking details and account numbers – granting them a unique cryptographic identifier that will be used for transactions on the platform. Kevin Phalen, global head at Visa Business Solutions, suggests that the…

$50 Million ICO Shuts Down ‘in Accordance with’ Regulatory Requirements

An Initial coin Offering (ICO) conducted by an Australian crypto startup Global Tech Exchange (GTE) has ceased operations, citing the Australian Securities and Investments Commission (ASIC) requirements, the company’s website reveals Monday, Oct. 22. According to Business Insider Australia, the ICO was launched summer 2018 by GTE to create an an education-based trading and exchange platform and had a fundraising goal of $50 million. The firm quickly gained popularity after being endorsed by Michael Clarke – a former Australian cricket captain and national celebrity. As of August, GTE cited him…

U.K. MP to Advise Crypto Exchange on Gov’t Relations, Says ‘Steep Learning Curve’ Ahead

U.K. Member of Parliament (MP) Stephen Hammond has joined the advisory board of a new retail investor-focused crypto exchange to provide guidance on government relations. The news was shared in a press release with Cointelegraph today, Oct. 22. Hammond is also notably a member of the Treasury Select Committee, where he is responsible for government financial oversight and regulation. The exchange, dubbed IronX, is a regulated platform that has been jointly established by digital trading firm IronFX and EmurgoHK, developers of the ninth-largest crypto by market cap, Cardano (ADA). The…

Bitmain Releases Overt AsicBoost Firmware for Antminer S9

Bitmain has finally released its firmware for the popular Antminer S9 to enable what is called “overt AsicBoost.” In a recent blog post, Bitmain explains their rationale for the firmware release, citing that they originally “decided against activating this mathematical function in mining hardware” due to the “uncertainty surrounding the use of AsicBoost.” Bitmain previously released support for AsicBoost back in March 2018 by adding support for it on their mining pools BTC.com and Antpool. This, however, came after the company noticed blocks being mined on the blockchain using AsicBoost.…

Bitfinex Took 630 Million Tether Out of Circulation After Drop Below $1

Bitfinex is sending massive quantities of tether tokens back to the vaults. The cryptocurrency exchange has overlapping management and owners with Tether Ltd., the company that issues a dollar-linked cryptocurrency of the same name (often abbreviated USDT). Both firms have come under increasing scrutiny following USDT’s dramatic break with dollar parity last week, when the exchange rate briefly dropped as low as $0.85 on the Kraken exchange. It has yet to fully recover. It’s notable, then, that a wallet address controlled by Bitfinex has sent 630 million USDT to an…

Ethereum Token BAT Continues Breakneck Rally, up 56% This Week

Ethereum token BAT continued its dramatic week-long ascent on Monday, bolstered by positive fundamentals related to its role in Brave’s web browser ecosystem and speculation that the cryptocurrency will soon be listed on Coinbase. BAT (short for Basic Attention Token) increased 14 percent against the dollar on Monday, briefly eclipsing $0.30 before settling down to a current value of $0.287. The token’s weekly return now stands at 56 percent, which is far and away the best return among top 50 cryptocurrency assets. BAT/USD | Binance As CCN reported, the rally…

Monero Transaction Fees Reduced by 97% After Bulletproofs Upgrade

After the recent hard fork upgrade of its protocol, Monero has seen its transaction fees shrink by approximately 97 percent, dropping from 60 cents to just 2 cents. Crypto analytics firm Coinmetrics shared a tweet confirming the drop in fees and their corresponding reduction in transaction size, falling from 18.5kb pre-fork to 3kb — an 80 percent change. The upgrade, called “Monero 0.13.0 Beryllium Bullet,” implements “bulletproofs.” First introduced by researchers at Stanford, the cryptographic scheme shrinks the size and cost of transactions specifically for Confidential Transactions.   Why Bulletproofs?…

Bitcoin Futures Could Go Live on ICE’s Crypto Trading Platform in December

The Intercontinental Exchange’s upcoming cryptocurrency trading platform Bakkt will officially launch on December 12, pending regulatory approval. ICE announced Monday that Bakkt could begin offering physically settled bitcoin futures contracts in December, marking the first cryptocurrency-related offering provided through the new platform. Bakkt will hold the bitcoins backing the futures contract in the ICE Digital Asset Warehouse, according to the notice, provided the Commodity Futures Trading Commission (CFTC) signs off. These futures contracts will be cleared through ICE Clear US, another subsidiary of the exchange, which notably owns the New…

BTC/USD More Bearish than Ever

The bitcoin price continues to trade sideways on Monday after a stable showing during the weekend on the daily charts. The bitcoin-to-dollar exchange rate is trading at 6398-fiat at the time of writing, 0.85 percent lower than its Sunday high. The pair has found a decent support area in 6350-6400-fiat zone. But, it does not signal enough buying sentiment to break above the giant descending trendline. BTC/USD also formed another Doji on Sunday, confirming an equilibrium between bulls and bears. Frankly, the market is in a long-term bearish bias, so…