Custody Issues Will Soon Disappear, Allowing Big Money to Flood the Crypto Market

Instruments such as the Namoura Consortium might soon solve the issue of custody, the main obstacle that has been hindering the flow of institutional money into the crypto market. The Three Crypto Evils: Custody, Regulations, and Trading Big financial institutions’ interest in participating in the cryptocurrency market continues to grow. They are investing heavily and recruiting talent to set up Bitcoin trading capabilities. For example, Goldman Sachs has already begun offering its clients the ability to trade Bitcoin futures via one of its New York desks. Bitcoin is already overcoming…

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27% of England’s Male Millennials Say Bitcoin Better Investment Than Property

Millennial Living in 2018: Insights for the UK ‘Build-to-Rent’ Sector, a study in conjunction with FTI Consulting, commemorates real estate group Get Living’s 5th anniversary. Focusing on millennials, it found significant portions turning away from traditional stores of value, such as property and home ownership, in favor of crypto assets.   Also read: Bitlicense Should be Smashed, Candidate for New York Governor Urges Millennials Turning from Traditional Investments and Toward Crypto “For Millennials the soaring performance of Bitcoin – followed by an almost equally profound correction – holds more intrigue…

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$5.2 Million in Cryptocurrency Seized in EU’s Largest LSD Raid

European law enforcement agencies dismantled a Darknet drug trafficking network, seizing almost 800,000 doses of LSD and over $5 million in Bitcoin, IOTA, and Lumens. The Infamous ‘Darknet’ The Deep Web or the “Darknet” gained a lot of notoriety back in 2013 when the United States FBI took down the Internet’s largest online black market and drug trafficking ring known as The Silk Road after an extended manhunt for the site’s libertarian creator, Ross William Ulbricht. Ulbricht, better known by his deep web pseudonym, “Dread Pirate Roberts,” was charged with narcotics…

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Poland Bitcoin Community Files Complaint Against Bank Account ‘Denials’

Poland’s cryptocurrency industry lobby group the Polish Bitcoin Association (PBA) confirmed it has complained to regulators about banks’ denial of services to businesses June 27. Banks ‘Aim To Remove Virtual Currency’ In a statement sent to the Office of Competition and Consumer Protection (OCCP), the PBA cites financial institutions closing and denying bank accounts as proof they “clearly aim at removing virtual currency entities from the market.” Poland continues its chequered history regarding cryptocurrency, which still lacks official laws but faces a de facto ban on ICOs. The government has…

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ICO Round-Up: Social Media Influencers Bypass Ad Ban, Centra Tokens Deemed Securities

Three stories dominate this week’s initial coin offering (ICO) round up: It appears many ICO projects are reaching out to social media influencers in an effort to thwart advertising bans across leading platforms. A study published by the China Banking Regulatory Commission (CBRC) suggested that the country develop a licenced-based regulatory apparatus that permits cryptocurrency activities including ICOs. A U.S. judge has found that CTR, tokens distributed through Centra Tech’s ICO that sought the promotional services of boxer Floyd Mayweather, demonstrate numerous attributes of a security under existing legislation. Also…

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Russia’s Biggest Payments System Qiwi to Open Crypto-Investment Bank

QBT, a daughter company of Russia’s largest electronic payments system Qiwi, announced it will launch the country’s first ever cryptocurrency investment bank.  Russia’s First Cryptocurrency Investment Bank The new company — which will operate under the brand-name HASH — will be registered in Russia, reports Russian news outlet Kommersant. The project will be based on the classical investment bank model but will operate on global cryptocurrency markets. Head of QBT, Yakov Barinksyi, explained: We will help companies go through the fundraising stage. It will be classic monetization: we will receive our commission…

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Report: 2018 Token Sales Almost Double Last Year’s Results

Initial Coin Offerings in the first half of 2018 have attracted nearly double the amount of funds raised last year, a new report reveals. Researchers point out, however, that the majority of ICOs have largely failed, with only a third of the projects closed successfully. According to the study, the US remains the major destination for coin offerings while Switzerland has established itself as a European ‘standard bearer’ in regulation.   Also read: Why 70% of ICO Tokens Are Not Exchange Listed and Probably Never Will Be $13.7 Billion Raised…

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‘The Rout in Cryptocurrencies is Still Not Finished,’ Claims Barclays

Looking for someone to play the bearish case in regards to Bitcoin and other cryptocurrencies? Look no further than the Head of Investment Strategy at Barclays Smart Investor, Will Hobbs — who claims “the rout in cryptocurrencies is still not finished.” Economic Illiteracy Following the Bank of England’s warning to City bosses that implementing cryptocurrencies into their business plans poses “reputational risks,” a representative from the United Kingdom’s top institutional investment firm has noted his belief that the cryptocurrency market will continue to be dispelled. According to Express.co.uk, Barclays Smart Investor’s…

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Supreme Court Will Not Reconsider Ross Ulbricht’s Life Sentence

On June 28, 2018, the US Supreme Court revealed it would not re-evaluate Ross Ulbricht’s court case and double life sentence tied to his charges of operating the Silk Road marketplace. Ulbricht’s legal team and family were hoping the recent Carpenter Vs. US Supreme Court case would spur court officials to reconsider the Ulbricht’s conviction. However, Supreme Court officials didn’t see eye to eye with this reasoning and denied Ulbricht’s cert petition. Also read: Troll Slayer: Derek Magill Defends Peer-to-Peer Electronic Cash Against Defamation SCOTUS Denies Ross Ulbricht’s Cert Petition Just…

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Lightning Network ‘Really Does’ Solve Bitcoin Scaling: Andreas Antonopoulos

Andreas Antonopoulos has defended the Lightning Network as an optimal Bitcoin scaling solution, saying it is “naive” to assume that its current nascent state means it will fail to scale in future. Critics ‘Misunderstand Engineering’ Speaking as part of his regular Q&A sessions, the celebrated cryptocurrency educator and lecturer addressed criticism of Lightning, which remains in beta testing phase after its Bitcoin mainnet implementation first launched six months ago. Summarizing the protocol’s perspectives, Antonopoulos said: To say it is not possible ever because it is not possible today is to…

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