India Considers Complete Ban on Digital Currencies

A draft bill that would outright ban cryptocurrency is reportedly circulating among various departments of the Indian government, local media outlet The Economic Times reported on April 25. An official familiar with the matter reportedly told the Economic Times that the government has begun inter-ministerial consultations on the “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019″ draft bill. A committee consisting of the Department of Economic Affairs (DEA), the Central Board of Direct Taxes (CBDT), the Central Board of Indirect Taxes and Customs (CBIC) and the Investor…

Bitfinex Allegedly Covers $850 Million Loss With Tether Funds

The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall, according to an announcement published on April 25. Attorney General Letitia James revealed that her office obtained a court filing alleging that iFinex Inc. — the operator of Bitfinex — Tether Limited, and their associated entities were in violation of New York law in connection with activities that may have defrauded New York-based crypto investors. James stated: “Our investigation has determined…

Chinese Internet Court Employs AI and Blockchain to Render Judgement

In China, blockchain technology is increasingly employed to settle court cases, local news outlet Global Times reported on April 25. Speaking at the 2019 Forum on China Intellectual Property Protection, Zhang Wen, president of the Beijing Internet Court — which was established in September 2018, and has since processed 14,904 cases — reportedly said that the court employs technologies such as artificial intelligence (AI) and blockchain to render judgement. Zhang reportedly told the Global Times that “of the 41 cases concluded [with blockchain technology] so far, parties chose to settle…

With BTC Emphasis, Genesis Capital Reports $425 Million Originations in Q1

Cryptocurrency trading and lending firm Genesis Capital released a “Digital Asset Lending Snapshot” for Q1 2019, indicating that it originated $425 million for the period. According to its report, the firm has originated over $1.53 billion since its trading service was launched in March 2018. In addition, the company’s total active loans increased to $181 million, a 17 percent increase over Q4 2018. “We expect to see sustained growth in the lending market in Q2,” the report reads. “As crypto prices have rallied, we have seen an acceleration of crypto…

Nike to Launch Crypto Called Cryptokicks? Trademark Application Hints Yes

The crypto community has known for a while that Facebook might be issuing its own cryptocurrency. And now, it appears the online behemoth might have a little competition. Reports have surfaced that athletic apparel manufacturer Nike is thinking of doing the same. The Oregon-based company even has a name for its digital currency: cryptokicks. Nike Cryptokicks Coming Soon? On April 19, Nike filed a trademark application for ‘cryptokicks.’ The application said cryptokicks could be used by an online community. The application also describes an electronic marketplace for clothing and footwear.…

Malta’s Financial Regulator Issues Guides on Crypto Assets, Scams

Malta’s financial regulator has issued a note to the public regarding the risks of crypto assets and the possibility for scams, news outlet Times of Malta reported on April 25. The Malta Financial Services Authority’s (MFSA) new guidance note intends to warn the public about cryptocurrency investments and related risks, and educate people on how to identify and avoid scams and fraudulent schemes. The guidance reportedly outlines the most common types of digital currency-associated scams, which include fake iInitial coin offerings (ICOs), crowdfunding ventures promising higher gains which are availed…

Bitcoin Breaks Back Above $5,500, Cryptos Recover From Major Sell-Off

Thursday, April 25 — crypto markets have mostly recovered after yesterday’s significant sell-off, with Bitcoin (BTC) breaking back above the $5,500 support. All but four coins among the top 20 cryptos by market cap are in green at press time. NEO is seeing the biggest increase of almost 7%, while bitcoin SV (BSV) and tezos (XTZ) tumbled 1% and 2.25%, respectively. Market visualization from Coin360 Bitcoin is steadily growing on the day and is trading at $5,521, up 1.18% over the past 24 hours at press time. The intraday low…

Is TD Ameritrade Working to Enter the Crypto Industry?

TD Ameritrade is a financial services company and provides a trading platform through which users can trade stocks, mutual funds, investments, and much more. TD Ameritrade has reportedly around 11 million users. TD Starting Crypto Trading? Rumors are circulating all over the internet that this company is already in testing phases of crypto trading in association with ErisX. ErisX is a Chicago-based company, and according to the rumors, it is developing and testing a beta version of crypto trading on TD Ameritrade’s online trading platform. However, this news is not…

SEC, CFTC Issue Investment Warning on Crypto Scams

Sensing a rise in crypto-related scams and fraudulent investment schemes, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have issued a joint warning to investors, encouraging them to take a more thorough approach to verifying potential investments in the space. The warning was published on April 24, 2019, by the SEC’s Office of Investor Education and Advocacy and the Office of Customer Education and Outreach at the CFTC. In the notice, the agencies described crypto-related investment scams in which perpetrators — disguised as cryptocurrency…

Final Frontier and Bitfury Launch Regulated Bitcoin Mining Fund

Following approval from European authorities, Swiss investment firm Final Frontier is partnering with Bitfury Group to launch a regulated bitcoin mining fund for personal and institutional investors. Bitfury announced the partnership on April 24, 2019, describing the project and some of the advantages that this mining fund will offer to investors. According to the Bitfury Medium post, the fund will look to introduce more investors to the difficult-to-access world of bitcoin mining “by offering exposure to bitcoin mining via a fully regulated fund in a European jurisdiction, with top-tier service…