Toronto-Dominion (TD) Bank is the latest financial institution to ban customers from using their credit cards to purchase cryptocurrency. As more retail investors continue to be onboarded, banks are looking to protect them from making ignorant decisions. Weighing Risk, Regulation, and Rapidity In a recent move that has become common from banks, TD Bank is effectively halting the use of credit cards to purchase cryptocurrency. Originally still permitting purchases even after the first move from banks began, TD Bank has now fallen in line with a growing policy change. At…
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Vladivostok Discussed as Russia’s New ”Crypto Hub”
Bankers and government officials have discussed the possible creation of a crypto valley on Russia’s Pacific coast. Representatives of the Central Bank and the executive power in Moscow have taken part in the consultations initiated by the Fund for Development of the Far East. The city of Vladivostok, where local authorities want to allow cryptocurrency trade, may become a crypto hub. Also read: Russia to “Tame and Test” Crypto Technologies in Crimea Test Site for Crypto Regulations The Fund for Development of the Far East has proposed the creation…
Read MoreFrench Manufacturer Archos Launches Cryptocurrency Hardware Wallet
Cryptocurrency users are blessed with an increasing choice of hardware wallets. Ledger and Trezor, the two dominant players in the space, are facing competition from a number of new entrants. Ledger will soon be joined by a fellow French manufacturer in the form of Archos, a company best known for its audio accessories. Its Safe-T mini wallet will retail for $62. Also read: Bitcoin for Beginners: Which Hardware Wallet to Use Competition for Hardware Wallets Is Heating Up Manufacturing consumer electronics is a cutthroat business. Competition is fierce, margins are slim,…
Read MoreAustria Wants to Regulate Bitcoin like Gold and Derivatives
Austria Finance Minister Hartwig Löger is urging both his country and the broader European Union to treat cryptocurrencies such as bitcoin in a regulatory fashion as they do now with regard to gold and derivatives. Also read: How To Regain Control From Nanny Zuck Austria Floats Ideas About Bitcoin Regulation “The cryptocurrencies are in the process of massively damaging the reputation of the financial market,” Mr. Löger insisted, “and jeopardizing the reputation of a young but very important sector for the financial market of the future,” arguing it will be a…
Read MoreBitcoin Hardware Manufacturer Bitmain Made a Profit of up to $4 Billion Last Year
The wealth of bitcoin mining titan Bitmain has long been assumed to be north of “huge”. Thanks to its near-monopolization of the ASIC manufacturing business, Bitmain has effectively had a license to print money. This week, Bernstein analysts released a report into Bitmain’s operations. It estimates the Chinese firm to have made $3-$4 billion last year from mining cryptocurrency and for selling the equipment for others to do the same. Also read: Montana Scores $250 Million Bitcoin Mining Campus Big Bucks for Bitmain Ask any serious cryptocurrency miner what brand of…
Read MoreCryptocurrency Makes Up Only 0.17% of All Money Laundering Cases in Japan
Cryptocurrency opponents have long argued that digital currencies are tools for money launderers. If the National Police Agency in Japan is to be believed, that may indeed be the case — though it’s not as prevalent as one might think. Minimal money laundering According to reports, the National Police Agency in Japan suspects 669 cases of cryptocurrency-utilized money laundering between the months of April and December. The reports come directly from the cryptocurrency exchange operators themselves, which are obligated under Japanese regulatory measures to report suspicious transactions which may signal…
Read MoreFinance Ministry Employees Caught Mining Cryptos in Kazakhstan
The Ministry of Finance in Kazakhstan has announced measures to improve security and oversight in its IT department after catching four employees mining cryptocurrencies on its servers. Joking that the miners have taken over the central bank’s main duty – money emission, a deputy called for crypto regulations. The National Bank is actually working on proposals to regulate the crypto sector. Also read: Kazakhstan, Kyrgyzstan, and Uzbekistan on the Crypto Radar State Computers Used to Mint Digital Coins IT specialists working for the Finance Ministry in four different regions…
Read MoreCoinbase Rolls Out SegWit Support on GDAX
At long last, Coinbase’s popular US-based digital asset exchange GDAX now supports Segregated Witness (SegWit) transactions on the Bitcoin network. What is SegWit? SegWit — short for Segregated Witness — is an important soft fork upgrade to the Bitcoin network which makes transactions significantly more secure and efficient. When sending transactions with SeqWit, the main part of the transaction is effectively segregated from the portion which authorizes it. In turn, this makes Bitcoin transactions even more secure. Perhaps even more exciting to some is the fact that SeqWit also minimizes…
Read MoreMontana Scores $250 Million Bitcoin Mining Campus
The Big Sky Country state of Montana keeps raking them in. For the second time this month, a mining operation is announcing its moving to the Butte area. Power Block Coin LLC is reportedly plunking down a quarter of billion dollars to upgrade existing facilities to mine the world’s most popular cryptocurrency, bitcoin. Also read: How To Regain Control From Nanny Zuck $250 Million Bitcoin Mining Campus Calls Butte, Montana Home The Montana Standard reports, “A company called Power Block Coin, LLC, plans to invest $251 million in capital improvements over…
Read MoreZebi is Blockchaining India’s Big Data
As the sheer amount of data in India grows exponentially, Zebi is ready to secure high-value and sensitive data, while making sure it’s instantaneously available for legitimate use – potentially revolutionizing the management of big data in India and abroad. More Data, More Problems Solving India’s big data generation problem is no easy feat. The South Asian country has a population of nearly 1.24 billion, of which roughly one billion have some form of digital identity. The country is also rapidly approaching 500 million internet users – second only to…
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