New Jersey Governor Signs Bill to Establish Blockchain Task Force

Governor of New Jersey Phil Murphy recently signed bill S2297, which is an act to create a so-dubbed New Jersey Blockchain Initiative Task Force. The purpose of the task force is purportedly to study blockchain solutions for the benefit of the state. The news that Murphy passed this bill comes by way of an announcement on the official site of the state of New Jersey on Aug. 8. According to the press release, the taskforce will study the risks and rewards related to blockchain and distributed ledger technology; public blockchains,…

Coinbase’s Professional Platform to Begin Listing Process for Algorand Token

Major cryptocurrency platform Coinbase is adding the Algorand protocol’s eponymous token to its professional-targeted trading platform Coinbase Pro on Aug. 14. Coinbase announced this latest addition in an official blog post on Aug. 9. The cryptocurrency exchange will scale up to full Algorand (ALGO) trading in four steps: transfer-only, post-only, limit-only and full trading.  The announcement also recalls some other common procedures for adding a new token to its platform, which include announcing the onboarding phases as they occur on Twitter and that they will provide immediate support for Algorand…

South Korean Holding Company Uses Ripple Fork to Develop Donations Platform

South Korean holding company SK C&C has unveiled plans for a donation platform that is based on a Ripple blockchain fork. Moreover, the platform will support a stablecoin linked at a 1:1 ratio to the won, as well as a utility token. South Korean news daily Chosun reported about the company’s initiative on Aug. 9. According to the report, the donation platform is still strictly in the planning phase. SK C&C head Lee Sun-min explained that issues with regulation and infrastructure development present barriers to launching their proposed platform: “Since…

Crypto Custodian BitGo Expands Japanese Presence, Builds Team

Digital asset trust and security company BitGo is reportedly expanding into the Japanese market, The Block reported on Aug. 9. A source familiar with the matter told The Block that BitGo is expanding its presence in Japan. According to the report, BitGo is planning to grow its Japan-based team, including hiring a sales director for the company’s sales team in Tokyo. Per a dedicated job post published by BitGo last week, the sales director will specifically be responsible for the company’s “digital wallet and offline vault solutions across your agreed…

New Jersey Signs Blockchain Task Force Program Into Law

Blockchain implementation research is coming to New Jersey. Governor Phil Murphy signed bill S2297, the Blockchain Initiative Task Force, into law Friday. The task force is commissioned with studying potential use-cases for blockchain technology on the state and local level. The bill specifically points out medical records, land records, banking, and property auctions as potential applications. First drafted in March 2018, the bill passed the New Jersey Senate with one nay and the assembly with all onboard. Consisting of 14 appointed members, the task force has 180 days to file…

Weapon in US Trade War or Attempt to Manipulate Bitcoin?

After a short stay in the red zone, Bitcoin (BTC) has recovered toward $12,000, with traders turning bullish as ever. Experts call the United States-China trade war a key reason for the main cryptocurrency’s price fluctuations. Fuel to the fire has been added by the recent announcement by the People’s Bank of China (PBoC) of plans to get ahead of the U.S. and Facebook’s Libra by issuing a national cryptocurrency. Chinese government is set to digitize yuan, challenge U.S. and Libra As Cointelegraph reported, the PBoC plans to focus on developing its…

‘I See Gold and Bitcoin as Being the Same Thing’

Mark Cuban, owner of the Dallas Mavericks professional basketball team, has said that he hates gold as an investment, and views Bitcoin (BTC) as fundamentally similar to gold. Cuban delivered his remarks in an interview with Kitco News on Aug. 9. He did note that he views Bitcoin’s finite supply as a bonus to its investment value, saying: “They’re both collectibles. The value is based off supply and demand. And the good news about Bitcoin is there’s a finite supply that’ll ever be created.” However, Cuban did say that he…

Stolen Binance Funds Still Being Laundered Through Mixers, Researchers Claim

May’s Binance hacker has been hard at work washing his stolen bitcoins through a mixing service. Clain.io, a Luxembourg-cryptocurrency capital flows research team, says the 7,074 stolen coins are being laundered through mixing service Chipmixer. Clain says at least 4,836 bitcoins were laundered since June 12th. A bitcoin tumbling service mixes a bitcoin’s unspent transaction outputs, or UTXOs, with other users’ coins. Since bitcoins are attached to the publicly verifiable blockchain with UTXOs, mixing services are used to obfuscate transaction histories that follow bitcoins around. Chipmixer was overwhelmed with the…

Disgruntled Bitcoin Investor Brings $22.5M Class Action Suit to Israeli Bank

An unnamed investor has filed a lawsuit against the Israeli Bank Hapoalim in the amount of approximately $22.5 million, on account of the bank allegedly refusing to accept deposits of profits earned via Bitcoin (BTC).  Industry media outlet BlockTV discussed the lawsuit in a report on Aug. 9. According to the report, the complaint is being filed as a class action suit, and the investor ultimately plans to sue other Israeli banks on the same grounds.  According to the report, Israeli banks are largely anti-crypto because they wish to avoid…