November 27, 2018 | Club Laura

Nigeria’s Union Bank Threatens to Shut Down Cryptocurrency-Related Accounts

November 27, 2018 clublaura_e7xtqv

A large commercial bank in Nigeria has threatened to shut down an undisclosed number of cryptocurrency-related accounts without explanation. Lagos-based Union Bank claims that any decision to do so would be in line with the Central Bank of Nigeria’s (CBN) past warnings about cryptocurrency trading. Also read: Malaysian MP “Concerned About Threat” From Cryptocurrencies to Government Money Panicky Customers Empty Account Balances In a statement to account holders this week, Union Bank of Nigeria warned: “In order to guarantee the security of our customers’ funds, Union Bank will monitor accounts being…

ICOs Are Withdrawing Ethereum as Justin Sun Says ‘Migrate’ To TRON

November 27, 2018 clublaura_e7xtqv

Ethereum (ETH) may have lost almost 90 percent of its value in 2018, but this has not fazed projects that raised funds via ICOs, data shows. Aragon Withdraws Over 51,000 Ethereum In its latest edition focused on ICO balances, Diar reveals that ETH 00 withdrawals by developer teams trailed off as the year has progressed (with the exception of September), with November nonetheless marking a slight U-turn in withdrawal habits. Conspicuously bucking the trend this month is Aragon, which this week withdrew a total of 51,934 ETH ($5,354,395) from its…

BCH-Powered Bitcoin Files Project Adds IPFS Support

November 27, 2018 clublaura_e7xtqv

Last October, the developers of the Bitcoin Cash-powered Bitcoin Files project launched the first iteration of its censorship-resistant file sharing software. At the time, the platform allowed users to upload files of 5kb or less to the blockchain. Now, the latest Bitcoin Files release supports the decentralized Inter-Planetary File System (IPFS), allows users to upload much larger file sizes, and gives the ability to preview files before downloading. Also read: Hash Wars: Battle Comes to an End as BSV Plans to Add Replay Protection Bitcoin Files Project Adds Another Layer of…

Tether Reopens Fiat-USDT Redemption Platform

November 27, 2018 clublaura_e7xtqv

Tether is back in business. Its stablecoin platform, which has lain dormant since last year, is to reopen for fiat deposits and tether (USDT) redemption. The move, described by Tether as a “new vision,” ought to return its stablecoin to the parameters it was originally designed to meet. With a minimum fiat deposit of $100,000, however, Tether’s service will be off-limits to retail investors. Also read: Binance Moves Away From Tether Tether Relaunches Direct Service Predictions of tether’s demise may have been exaggerated. Within 24 hours of Binance removing tether’s…

FCA Investigations Into Crypto Businesses Have Doubled Since May

November 27, 2018 clublaura_e7xtqv

FCA (Financial Conduct Authority), UK’s Financial watchdog, has doubled the number of investigations into cryptocurrency companies to 50 since May 2018. FCA Increasingly Looking at Crypto Firms According to Top Ten accountancy firm, Moore Stephens, the Financial Conduct Authority (FCA), has doubled the number of investigations into crypto related businesses in the UK since May of this year. This takes the total number up to 50 as of October 2018 against a backdrop of increased regulatory scrutiny. According to the UK’s 9th largest accountancy firm, failure to correctly address existing…

Exchange News: Coincheck Resumes All Trading, Bitmex Insurance Fund Grows

November 27, 2018 clublaura_e7xtqv

In recent crypto exchange news, Coincheck has successfully reinstated deposits and trading services for all cryptocurrencies that were live on the exchange before it was hacked in January. Bhex, an exchange founded by Huobi’s former chief technology officer, has announced that it will start operations at the end of the month, while 1,452.6 BTC was recently added to the Bitmex Insurance Fund in a single day. Also Read: Russian Miners Sell Their Equipment Amid Market Plunge Coincheck Resumes All Pre-Hack Trading Coincheck has reinstated deposits and purchases for XRP and FCT.…

4 Blockchain-Based Projects Which Solve Real-World Issues

November 27, 2018 clublaura_e7xtqv

From autonomous robots to wealth management: here are four promising startups at the end of 2018. ICO projects with no real use are just not attractive to investors anymore. According to ICODATA $150 million were raised through the month of October 2018 in token sales. That’s a substantial decline from the $1.5 billion raised in January the same year. “The blockchain space is getting to the point where there’s a ceiling in sight,” – claims Ethereum co-founder Vitalik Buterin. According to him, the next step will involve “real applications of…

Paraguay to Provide Land for ‘Golden Goose’ Mining Project

November 27, 2018 clublaura_e7xtqv

Paraguay’s vice president has declared support for the “Golden Goose” project, which will see South Korea’s Blockchain Technology Foundation build five mining centers on state land. The foundation also plans to conduct what it describes as an “initial exchange offering” to facilitate investor participation in the project. Also Read: Sweden Expects to Attract Norwegian Bitcoin Miners After Brutal Tax Hike South Korean Group to Build Mining Centers The Blockchain Technology Foundation, also known as the Commons Foundation, has entered into an agreement with Paraguay to construct what it claims will be a…

South Korea Approves Its First Cryptocurrency Exchange Upbit

November 27, 2018 clublaura_e7xtqv

South Korea’s Internet and Security Agency (KISA) awarded Upbit an information security management system (ISMS) license, for its strong infrastructure. Upbit Becomes First ISMS Licensed Exchange Upbit, South Korea’s largest cryptocurrency exchange by volume, has become the first to obtain an ISMS license. In December 2017, KISA decided that all internet and data related companies generating more than $100 million in revenue would require an ISMS license. KISA assesses these firms based on over one-hundred criteria, to ensure they have strong internal management systems and security protocols. Following Upbit’s approval, the agency…

Copay and Bitpay Wallet Apps Were Infected With Malicious Code

November 27, 2018 clublaura_e7xtqv

A developer has injected a piece of malicious code into the software used by the popular Copay and Bitpay wallets. The safety of the Bitcoin.com wallet was not compromised and the Bitpay app was not vulnerable to the attack, but Copay users need to take precautionary actions. Also Read: Chinese Startup Gets Crypto Custodial Services License in Hong Kong Someone Might Have Been Able to Steal Private Keys The Bitpay team has announced that a third-party NodeJS (the open-source Java Script environment) package used by the Copay and BitPay apps…