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The Russian Ministry of Finance is not against a national cryptocurrency, provided the state does not participate in it. The creation of a centralized coin, like the cryptoruble, seems impossible, as cryptocurrencies are based on decentralized ledgers, Finance Minister Anton Siluanov told President Putin, according to Russian media.   Also read: Russian Authorities Criticized over Proposed Crypto Regulation Educating the President Responding to Vladimir Putin’s request to study possibilities to emit а so-called “cryptoruble”, Minister Siluanov has tried to educate Russia’s head of state on the nature of cryptocurrencies. In…

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Legacy financial institutions have generally taken a hands-off approach when it comes to cryptocurrencies due to their lack of transparency and promotion of anonymity. ivyKoin is looking to break down those barriers through its unique transfer of KYC (know your customer) and KYT (know your transaction) data via their blockchain network. Legacy Systems Need a Hero With trillions of dollars being transferred on an international scale daily and the growth trajectory of cryptocurrencies, a solution is needed to introduce clean cryptocurrency transactions to existing payments systems. The continuous issue that…

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Venezuela’s president Nicolas Maduro has ordered the country’s consular services, as well as several other services and gas stations, to accept any cryptocurrency including the nation’s own petro. In addition, he has announced the launch of another cryptocurrency, this time backed with gold. Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Maduro’s Orders Maduro has ordered various government services to accept any cryptocurrency including the petro, Venezuela’s oil-backed currency which began its private pre-sale on February 20. This announcement was broadcasted nationwide from the Miraflores Palace and also reported…

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Major Dutch financial services company, ING, has confirmed that Bitfinex holds an account with the company in the Netherlands. The bank issued a statement regarding its relationship with Bitfinex after Dutch-language website Follow the Money published a report revealing that ING is providing financial services to Bitfinex last week. Also Read: Independent Ratings Agency Alerts Investors About Dangers of Tether  ING Confirms Relationship With Bitfinex Harold Reusken, an ING spokesperson, has confirmed via email that Bitfinex holds an account with the bank in the Netherlands. Mr. Reusken did not comment when…

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Robinhood has finally launched today its highly anticipated crypto trading for bitcoin and ethereum, allowing its now 4 million investors to trade cryptocurrencies alongside stocks, ETFs, and options on the same platform. The feature is being gradually rolled out to people residing in five American states. Also Read: Bug at Japanese Government-Approved Zaif Exchange Let Users Get Free Bitcoin Robinhood Adds Bitcoin and Ether Trading The Robinhood in-app feed Robinhood, the Palo Alto-headquartered US stocks brokerage app, has begun today to gradually enable access to BTC and ETH trading to its customers…

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Bitcoin price dropped below $10,000 again Thursday as analysis warns traders to prepare for “FUD” from detractors. $11,700 The Target To Beat Data from Bitstamp showed a sudden $500 dip over three hours, taking Bitcoin from around $10,300 to current lows of $9677. Having traded as high as $11,762 this week, markets appeared to encounter a lack of support closer to $12,000 Wednesday, creating a rapid drop and reversing gains which began around February 17. “We’re seeing some weakness; this is not good,” analyst Tone Vays told viewers during a…

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Things are only getting weirder in Venezuela, as President Nicolas Maduro decides that one state-issued cryptocurrency farce isn’t enough. Now, the socialist country with a crumbling economy is ready to launch second Petro token — called Petro Gold. Maduro’s Vision Earlier this week, collapsing socialist country Venezuela purportedly launched Petro — the world’s first state-issued cryptocurrency — purportedly backed by the country’s oil reserves. The problem is, the oil allegedly backing each token has yet to be drilled, and the country is currently in the throes of an extreme economic crisis.…

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Taiwan has seen its first Bitcoin robbery as three men stole 18 bitcoins from the victim. Police were later able to apprehend the criminals. It seems that the cryptocurrency world is getting more dangerous. Every week, a new story comes out about an exchange getting hacked or a company getting cryptojacked. However, the buying and selling of bitcoins can lead to physical violence as a number of incidents have recently shown. The latest example of a Bitcoin robbery took place in Taiwan, and it happens that the robbery was the…

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The man convicted of creating the Silk Road marketplace, Ross Ulbricht, has lost yet another appeal to extend his “post-conviction relief.” Judge Katherine Forrest, the judge who sentenced Ulbricht to a double life sentence in 2015, denied the legal team’s attempt to renew the case even if additional circumstantial evidence is found in the future. Also read: 30 People Who Were Really Wrong About Bitcoin The Judge Who Sentenced Ross Ulbricht Throws Down the Hammer Once Again Ross Ulbricht. This month the Judge who handed down two-lifetime prison sentences to Ross…

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In October 2017, the Iranian government all but decided to implement Bitcoin as a means to completely bypass sanctions, while also allowing citizens to conduct international trades otherwise not possible. Now, however, the Islamic Republic on the Persian coast has changed its mind. A Foolish Inconsistency According to the independent Iranian news site Iran Front Page (via Fortune), the Republic’s central bank claims it never recognized, nor planned on recognizing, Bitcoin as an official currency. It also denies all claims that it was actively facilitating Bitcoin transactions to circumvent sanctions…

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