Bitcoin IRA Is Letting Customers Lend Out Their Crypto Retirement Funds

Bitcoin IRA will soon allow customers to lend their retirement assets for interest.  The firm, which provides digital asset individual retirement accounts (IRAs) is partnering with digital currency trader and lender Genesis Trading to offer interest on cryptocurrency and cash holdings that customers want to lend out, including bitcoin, ether, XRP, litecoin, and zcash.  The program will be launched in November with a limited number of participants on a first-come, first-served basis, and annual interest rates will vary based on lending coin and term length.  Bitcoin IRA declined to define…

Banks May Cut Ties With Facebook if Libra Is Launched: ING CEO

Banks may be bound to stop working with social media giant Facebook if the firm launches its Libra stablecoin, according to ING CEO Ralph Hamers. Bank can choose to “not accept the client” Financial news outlet Financial Times reported on Hamers’ remarks on Oct. 22. Per the report, he explained that institutions like ING have to guard the financial system to prevent criminal activity. Because of this, concerns over Libra’s potential for illegal use may result in a response from the banks: “We can take measures and exit the client,…

FCA Will Make Final Decision on Banning Crypto Derivatives

The government of the United Kingdom has stressed that is up to regulators, not the executive, to decide whether to press ahead with a proposed ban on certain crypto derivatives for retail investors. Finance Feeds reports that on Oct. 21, the Economic Secretary to the Treasury John Glen responded to a series of questions about developments in the U.K.’s approach to crypto-assets, including the U.K. Financial Conduct Authority’s ongoing consideration of the ban.  Glen refrained from giving a determinate answer, underscoring that: “The final decision […] is a matter for…

Crypto App Revolut Confirms MasterCard on Board for 2019 US Expansion

Cryptocurrency-friendly internet banking app Revolut plans to launch in the United States later this year, the company has confirmed. MasterCard joins Visa support for Revolut In a press release on Oct. 22, Revolut said its expanding partnership with MasterCard would allow it to enter the U.S. market by the end of 2019. United Kingdom-based Revolut has offered consumers both Visa and MasterCard spending since its launch in 2015.  In 2017, it began offering the exchange of three cryptocurrencies: Bitcoin (BTC), Ether (ETH) and Litecoin (LTC). This later increased to five…

Bitcoin May Rise toward $8,800, Short-Term Cross Indicates

View Bitcoin is looking north, with the hourly chart reporting a golden cross. Key resistance at $8,820 could be put to test over the next few days. On the downside. $7,800 is the level to beat for the bears. A widely tracked short-term bitcoin price indicator has turned bullish, strengthening the case for a test of key resistance above $8,800. The cryptocurrency’s 50-hour moving average (MA) has crossed above the 200-hour MA, confirming what is popularly known as “golden cross” – a bullish indicator. MA studies are based on backward-looking…

Cryptosteel Launches Physical Device for Private Key Backup Protection

Cryptosteel has launched its Cryptosteel Capsule, a physical backup device for the offline storage of private keys, passwords, and wallet recovery seeds. The company announced the official launch of the product in a tweet posted on Oct. 21. Not a hardware wallet Unlike the hardware wallets that many cryptocurrency HODLers are familiar with, Cryptosteel’s capsule focuses on providing a physical backup for personal, sensitive data — a more durable alternative to storing your private key on a physical piece of paper.  The device is a pocket-sized, stainless steel capsule containing…

Japan’s Third Largest Bank Completes Blockchain Trade Finance Test

Sumitomo Mitsui Banking Corporation (SMBC), the third largest bank by assets in Japan, is set to begin utilizing R3’s Marco Polo trade finance blockchain on a commercial basis by the end of the year. The bank said on Friday last week that a cross-border proof-of-concept test was successfully completed involving Mitsui & Co, a Japanese general trading company, Indorama Ventures, a Thai company in the intermediate petrochemicals business, and Bangkok Bank, Thailand’s third-largest bank. In the course of the exercise, Bangkok Bank issued a payment guarantee for Indorama Ventures to…

China’s Cyberspace Watchdog Approves 309 More Blockchain Services

The Cyberspace Administration of China, the country’s central Internet regulator, censor, oversight and control agency, has published its second list of registered blockchain service providers. The new batch comprises 309 companies that are representatives of various industries, including cultural tourism, education, e-commerce, law, healthcare and supply chains, Chinese news outlet 8BTC reported on Oct. 21. Traditional sectors embrace blockchain Among the registered entities, for example, are services such as HiCloud and AliCloud — blockchain arms of tech corporations Huawei and Alibaba, respectively. In addition, the list includes giants from the…

Binance Joins Council of Internet Giant Kakao’s Blockchain Project

Klaytn, a blockchain project led by internet giant Kakao, announced that cryptocurrency exchange Binance is joining its governance council. In a joint press release shared with Cointelegraph on Oct. 22, Binance announced that it is joining the governance council of the service-centric blockchain project, Klaytn, to further push for the mass adoption of blockchain technologies. Binance joins 24 other member companies such as LG Electronics, Unionbank of the Philippines and Celltrion, to make key decisions for Klaytn’s business and technical developments.  According to the press release, Binance is the first…

Victim of $24 Million SIM Swap Case Writes Open Letter to FCC Chairman

SIM swapping victim Michael Terpin wrote an open letter to the United States Federal Communication Commission (FCC) Chairman Ajit Pai. In his letter, posted by Coindesk on Oct. 21, Terpin requested that the regulator take decisive action against SIM swapping and end this type of fraud. Terpin proposes to force all U.S. mobile carriers to hide customer pins and passwords from employees and oblige them to inform its customers that they can opt-in to carrier high-security plans, which must include a “no port” option, meaning that a consumer would have…