US Elections Regulator Gives Tentative Go-Ahead to Campaign Token

The Federal Election Commission (FEC) has tentatively approved an ERC-20 token issued by Omar Reyes to use in an incentives program for his congressional campaign. The FEC reviewed the coin project in a draft advisory opinion on July 5. According to the draft letter, the FEC believes Reyes is within his rights to issue his Ethereum-based “Omar2020Token” (OMR) as part of his campaign to join the United States House of Representatives from the 22nd Congressional District of Florida.  The FEC argues that because the tokens are essentially souvenirs, with no…

Crypto Markets See Sharp Drop, Gold Is on the Rise

Wednesday, July 10 — Cryptocurrency markets have registered a sharp drop after Bitcoin hit the $13,000 price mark in the beginning of the day, according to data from Coin360. Market visualization courtesy of Coin360 Bitcoin (BTC) is currently trading at around $12,092, having lost over 3.6% on the day, although in early trading today the BTC/USD pair reclaimed almost $1,000 in 24 hours. In terms of its weekly performance, Bicoin is up by 4.28%. Bitcoin 7-day price chart. Source: Coin360 The second-largest cryptocurrency by market capitalization Ether (ETH) has come…

Vanuatu Extradicts Six Chinese Citizens Allegedly Involved in Crypto Scheme

Vanuatu, a Pacific Island country, has extradited six Chinese citizens to the mainland, according to a report by Odaily Planet Daily on July 10.  The suspects were reportedly arrested in the course of an ongoing investigation of the PlusToken cryptocurrency platform which, according to the Yancheng Public Security Bureau, is a pyramid scheme.  As per the report, the Yancheng police in China have confirmed that they cooperated with local Vanuatu police to extradite six suspects associated with the PlusToken fund. The individuals were reportedly arrested by Vanuatu authorities at Chinese…

Crypto Payment Platforms Offer Working Examples — Competition Heats Up

Once seen by the mainstream zeitgeist as a fringe technology destined to languish on the outskirts of society, cryptocurrency today is alluring many leaders of the fintech sector by offering companies the prospect of being at the forefront of the largest financial revolution of the past century. With mainstream society increasingly accepting Bitcoin (BTC) as a means of payment, financial firms are increasingly seeking to offer a frictionless and convenient means for consumers to make payments using crypto.   Square introduces BTC deposits On June 26, San Francisco-based mobile payments provider…

Turkey Puts Central Bank Digital Currency on New Economic Roadmap

The government of Turkey has included a central bank-issued digital currency in its 2019–2023 economic roadmap published on July 9. As per the 11th Development Plan from the Presidency of the Turkish Republic, “Blockchain-based digital central bank money will be implemented.” In addition to a central bank digital currency, the development plan lists blockchain adoption in the operations of transportation and customs. It further notes that public services and administration can be improved by emerging technologies such as big data, artificial intelligence and blockchain. Turkish Vice President Fuat Oktay presented…

Russian Smelting Giant Nornickel to Launch Digital Trading Platform by End of 2019

Russian mining and smelting giant Nornickel is planning to roll out a digital platform for metals trading by the end of 2019, local news outlet TASS reported on July 9. The vice-president of Nornickel, Andrey Bugrov told TASS that “the preparation process was quite lengthy, but nevertheless, we plan to bring this product [digitization of metal trading] to the market by the end of 2019 and begin trading our tokens.” Bugrov also said that the token trading program could be worth nearly $1 billion, but that is rather a target…

Binance Coin (BNB) Prices Are Flat, Is Changpeng “Killing” ETH?

Binance Coin (BNB) flat-lining, down 3.1 percent Ethereum being sidelined, Binance delisting and shunning ETH trading pairs By rebranding and delisting PHX/ETH trading pairs, observers say Binance is deliberately sidelining Ethereum projects. Understandably, Binance following their mainnet launch is a competitor. At the time of writing, BNB is down 3.1 percent. Binance Coin Price Analysis Fundamentals Competition forces innovation. Following governments and regulator involvement, ICOs as a fundraising model was slowed down. With stringent requirements and outright bans in several countries, including in China and South Korea, project managers were…

Crypto News Today | Poloniex Now Accepts Cards, Will Gemini Join Libra?

The cryptocurrency sphere is bustling today. Crypto news regarding Poloniex is causing a stir. The exchange will now accepts credit cards and bank accounts. Elsewhere, prominent crypto-advocates the Winklevoss twins, along with their Gemini exchange, might be buddying up with Facebook’s Libra. Let’s check this out. Crypto News Making Moves Major cryptocurrency exchange Poloniex has announced that customers can now use credit cards and bank accounts on the platform. It announced the move in a Medium post published yesterday. The release states that users from over 80 countries can now…

Facebook’s Digital Coin Libra Faces Extreme Criticism

Libra, Facebook’s cryptocurrency to be launched as a payment service provider, requires close examination. According to a senior official at Britain’s financial watchdog, this new coin project requires deep scrutiny as it raises questions both on social and legal grounds. Facebook unveiled its Libra digital coin last month as a platform that will let one buy things or send money to people with nearly zero fees. Regulators Have Doubts About Libra One would pseudonymously buy or cash out their Libra online or at local exchange points like grocery stores. However, soon…