Major Auditing Firm Ernst & Young Releases Updates to Two Blockchain-Related Products

Big Four auditing firm Ernst & Young (EY) has released two new blockchain developments, a new version of its Blockchain Analyzer and a zero knowledge proof protocol. The company revealed the products in two separate press releases on April 16. EY has launched the second generation of its analytics tool EY Blockchain Analyzer. While the first generation of the product was available to only EY audit teams facilitating gathering companies’ entire transaction data from multiple blockchain ledgers, the upgrade made the analyzer accessible for EY teams and non-audit customers as…

SBI Delists BCH Amid Major Crypto Exchanges Delisting BSV

This article has been updated to specify that SBI Holdings has made an announcement about the delisting of BCH, and not mentioned listing BSV. Japanese financial services giant SBI Holdings will delist bitcoin cash (BCH) from its virtual currency exchange in June 2019, Cointelegraph Japan reports on April 16. SBI Virtual Currencies has now officially announced its plans to delist bitcoin cash — a cryptocurrency created from a hard fork of bitcoin (BTC). Bitcoin cash is the first hard fork of the major cryptocurrency, created in August 2017. In turn,…

SBI Delists BCH and Keeps BSV Amid Major Crypto Exchanges Delisting BSV

Japanese financial services giant SBI Holdings will delist bitcoin cash (BCH) from its virtual currency exchange in June 2019, Cointelegraph Japan reports on April 16. SBI Virtual Currencies has now officially announced its plans to delist bitcoin cash, while keeping support for bitcoin satoshi vision (BSV) — a cryptocurrency created from a hard fork of bitcoin cash. Bitcoin cash is the first hard fork of major cryptocurrency bitcoin (BTC), which was created in August 2017. In turn, bitcoin SV is a hard fork version of bitcoin cash, and is led by…

Major Japanese Fintech Firm Halts Plans to Launch Crypto Exchange, Citing Bear Market

Money Forward Inc., the operator of one of Japan’s most popular personal budgeting apps, has resolved to halt its plans to launch a crypto asset exchange. The development was reported by Cointelegraph Japan today, April 15. As previously reported, Money Forward had established a dedicated subsidiary in May 2018 for its crypto exchange project. It had intended to launch a crypto media platform, followed by a crypto exchange and the construction of a digital assets remittance and settlement system. Today’s announcement reveals that the company’s board of directors has opted…

Blockchain Use in Finance Still Faces Major Challenges: Chinese Researcher

The use of blockchain technology in the financial sector still face many challenges according to a major Chinese researcher, local news agency Sohu reports on April 12. Wei Kai, head of blockchain research at the China Academy of Information and Communications Technology (CAICT), described roadblocks to the technology’s further adoption at a 2019 meeting of the International Chamber of Commerce (ICC) Banking Commission. According to Wei, despite blockchain’s potential to transform a number of industries, tech disruptors have not solved three major problems in regard to the financial sector at…

Major Bank CEOs Testify at US Congress, Topics Include Blockchain and Crypto

Chief executive officers of leading banks testified before the United States House of Representatives Financial Services Committee on April 10 on how the banking industry has transformed since the 2008 financial crisis. Among many topics spanning the breadth of the banking industry, the CEOs and lawmakers discussed blockchain technology and cryptocurrencies. During his allotted time for questioning, Rep. Warren Davidson (R) argued that the industry is entering into a new era of innovation, wherein blockchain technology is transforming existing financial systems, as well as cybersecurity. Davidson also noted that the…

Smart Dubai Endorses Blockchain Platform From Major Local Telecoms Operator

The blockchain platform built by one of the United Arab Emirates’ (UAE) two telecoms operators has received an official endorsement from the government as part of the country’s blockchain integration, executives confirmed in a press release on April 3. Du, formerly known officially as Emirates Integrated Telecommunications Company, created its Blockchain-Platform-as-a-Service (BPaas) to offer cloud-based private blockchain hosting compatible with both Ethereum (ETH) and the Hyperledger Fabric. Now, the platform has received the seal of approval from Smart Dubai, the government organization in charge of transforming state-level services with the…

Bitcoin’s Price Rises Above Major Moving Averages In First Since 2018

Bitcoin’s price emerged above three major moving averages for the first time in nearly 15 months on Tuesday. The development is a byproduct of the cryptocurrency’s surge above $5,000 during Tuesday’s trading session, representing an increase in excess of 20 percent. A moving average (MA), when used in financial analysis, is simply a continuously calculated average of a certain economic factor like price or trading volume over a specified period of time. The moving average is particularly useful for smoothing out short-term fluctuations in the data set to identify the…

Major Swiss Stock Exchange SIX Lists XRP Exchange Traded Product

According to its official website, Switzerland’s principal stock exchange, SIX, has listed a Ripple (XRP)-based Exchange Traded Product (ETP) today, April 2. As Cointelegraph reported in March, the exchange had already confirmed that it was planning to list the product, dubbed Amun Ripple (AXRP). Hany Rashwan, co-founder and CEO of Amun — the cryptocurrency derivative development company behind AXRP — at the time claimed that this is the first such product on the market: “We can comfortably say that we expect to release the world’s first XRP ETP within the…

Bitcoin Bulls Stampede Bear Market Amid Major Dow Rally

Bitcoin surges 15 percent in 24 hours as the crypto bulls put the bears back in their place. The sudden rush of blood marks an end to a 3-month period of relative price stability for the OG crypto. Bitcoin’s Stable Streak Comes to a Positive End Bitcoin had enjoyed a stable period over the past few months, barely moving outside of a trading range between $3,800 – $4,200. That all changed today as BTC surged to $4,770. At press time, bitcoin is up over 15 percent according to Coinmarketcap. Bitcoin’s…