Thursday, April 26Your Daily Bitcoin & Altcoin News Portal

FINANCE

Central Bank of New Zealand Rejects Call for Enhanced Cryptocurrency Regulations

Central Bank of New Zealand Rejects Call for Enhanced Cryptocurrency Regulations

ADOPTION, FINANCE
In recent statements addressing contemporary cyber threats, including those pertaining to cryptocurrency cyber crime such as ransomware, the New Zealand Reserve Bank has rejected calls for enhanced and intrusive regulations. Organisations Have to Be Swift Against Cyber Threats The New Zealand Reserve Bank has rejected calls for enhanced regulations designed to target contemporary cyber threats, including ransomware and other challenges associated with virtual currencies. In a speech which has been published on the New Zealand Reserve Bank’s website, Reserve Bank representative Toby Fiennes articulates the bank’s position on contemporary cyber threats. “The dynamic cyber environment means that organisations have to be nimble in their approach to cyber security – focused on outcomes
HashFlare
Former Morgan Stanley Head is Backing a Crypto Assets Company

Former Morgan Stanley Head is Backing a Crypto Assets Company

FINANCE
As the market matures and lures more traditional finance professionals, investors like John Mack see a gap in accessibility. Mack is putting money down in what he believes to be the right places – expect ICO later this year. Digital Currency Ventures John Mack, once served as Chief Executive Officer for Morgan Stanley is now setting his crosshairs on digital currency. The banker claims to have been investing in digital currencies for years. John points out in an email statement: I have been watching and investing in the cryptocurrency market over the last several years… We think Omega One is going to be transformative because it benefits the entire ecosystem – making crypto assets cheaper and easier to access. His investments were made via Venture One, a portfolio company in wh
HashFlare
Digital Currency Tokens are Allowing the Creation of ‘Private Economies’, According to Vinny Lingham

Digital Currency Tokens are Allowing the Creation of ‘Private Economies’, According to Vinny Lingham

FINANCE
In a Medium post Monday, Civic CEO Vinny Lingham said that tokens released by companies as value assets are becoming “yet another killer app.” “We are now entering a realm where its (sic) possible for applications to be built on top of Blockchain technology, and this is enabling new use cases and, more importantly, the ability to create ‘private economies,” he surmised. Lingham received praise for the distribution methods of Civic’s CVC token last month as other ICOs, and token sales gained criticism for their perceived lack of technical robustness and impact on the Ethereum network. Currently trading on Bittrex, EtherDelta and COSS as well as ShapeShift, the average cost of CVC is now just over 20 cents – already double that of the token sale price. “When we look at Civic,
HashFlare
Blockchain Startup ArabianChain Nets $817k from New Investor

Blockchain Startup ArabianChain Nets $817k from New Investor

BLOCKTECH, FINANCE
ArabianChain, a United Arab Emirates-based public blockchain startup, has reportedly received AED3m ($817,000) from a private investor to further its operations. As reported by Gulf Business, the notable investment came from Ahmad Abdullah Bugshan, currently the vice president of Saudi Arabian telecoms firm, House of Invention International. Among other roles, the investor is also a board member of Arabian Bugshan, the holding company of a major conglomerate operating in the Middle East and North Africa. Bugshan told the news source: “I believe that the region will lead the way when it comes to blockchain, and ArabianChain is well-positioned to drive innovation and adoption of this disruptive technology.” Founded in February 2016 by Mohammed Alsehli, ArabianChain is developing
HashFlare
Bank of Italy Feels People Shouldn’t Create Their Own Currencies

Bank of Italy Feels People Shouldn’t Create Their Own Currencies

FINANCE
Over the past few years, we have seen multiple new cryptocurrencies emerge. The vast majority of these coins have no inherent value whatsoever. In fact, one could argue the developers of such currencies have made quite a bit of money from their projects. The Bank of Italy now warns the public about not issuing their own currencies moving forward. Quite an intriguing development, considering the local banks are struggling to find money. Anyone in the world can issue their own currency these days. That is, assuming they want to issue a cryptocurrency or an Ethereum-based token. There is very little coding knowledge required these days as well. A lot of cryptocurrencies simply copy features from other coins to keep things “fresh”. Moreover, the code for currencies such as Bitcoin and L
HashFlare
Poloniex Solves $70,000 Account Balance Issue After Reddit Complaint

Poloniex Solves $70,000 Account Balance Issue After Reddit Complaint

EXCHANGE, FINANCE
Some Poloniex users are getting fed up with the company right now. Ever since the platform saw an influx of new users, the number of issues started piling up. GpuShack President, Alexander Levin, is one of the people who has taken issue with Poloniex. According to his statement, he is no longer able to access his account and there has been no response from support for nearly a month now. ANOTHER MAJOR COMPLAINT ABOUT POLONIEX As if the DDoS issues and ZCash problems were not enough to keep people away from Poloniex, this latest piece of information may do the trick. A new Reddit post appeared earlier today, in which the ethOS founder -and GpuShack President- Alexander Levin explains his grievances with the company. More specifically, his account balance is worth $70,000, but he canno
HashFlare
ICOs Might Potentially Become the Future of Venture Capital

ICOs Might Potentially Become the Future of Venture Capital

FINANCE
This year has been a very profitable for cryptocurrency investors. More and more people are investing in ICOs (Initial Coin Offering) in hope to get in the next Bitcoin or Ethereum. Any way you look at it, 2017 has been a record setting – and record breaking – year for cryptocurrencies and ICOs. Over 40 different projects have managed to raise an impressive $1.2 billion USD in funding through token sales. Investors and experts believe that this is just the beginning and that ICOs will become the de facto method for fundraising in the future. In light of the overwhelming successes of several recent ICOs, many startups have decided not to take the traditional path of fundraising through venture capitalists (VCs) and instead launch their own ICOs. Not wanting to be left out of the m
HashFlare
The Brief History of Bubbles

The Brief History of Bubbles

FINANCE
Digital currencies have experienced incredible price growth since the beginning of 2017, leading many to wonder if their market value is exceeding their intrinsic value. When this happens, speculators drive the price of an asset to lofty and unsustainable heights, creating a financial bubble. These bubbles inevitably pop, bringing potential ruin to those who bought near the top. Severe speculative bubbles can also discredit an entire market sector, leading to a prolonged bear market as traditional investors stay away. Rollercoaster The digital currency market has seen extreme price growth over the past seven months, with much of it occurring since May. Some currencies, such as Bitcoin, have seen relatively modest growth. Other currencies, such as NEM and BitShares, have seen
HashFlare
How Crypto Traders are Drawing Authorities Attention Unknowingly

How Crypto Traders are Drawing Authorities Attention Unknowingly

EXCHANGE, FINANCE
Just recently Bitcoin.com has been covering the ongoing case between the U.S. tax agency, the IRS and its dealings with the cryptocurrency exchange Coinbase. However, bitcoiners are not the only ones being observed by taxation officials as regulators are growing concerned about ethereum traders this year accumulating millions of dollars in gains in a pseudo-anonymous manner. Trader Reveals He Profited Over $200 Million in Etheruem According to a recent report from Bloomberg, a cryptocurrency trader started bragging online that he made a cool $283 million by investing $55 million into ethereum. The pseudo-anonymous trader revealed his ETH address showing the public his 413 percent profit accumulated this year.     “I get many private messages asking how much ether I have,” explains
HashFlare
India May Deem Bitcoin as Taxable Digital Asset

India May Deem Bitcoin as Taxable Digital Asset

FINANCE
Local reports indicate that India may put in place a goods-and-services tax on bitcoin purchases. Indian officials have been meeting for months to develop a legal framework for digital currencies, forming a special task force in April to study the issue and develop possible options. The question of legality for the tech under Indian law has been subject to speculation in the past, especially following public statements that, at one point, were interpreted as a blanket ban on bitcoin. Regional news service The Hindu reports that new details on that process are emerging, including the possibility of taxes. Notably, according to one official’s account, the topic of banning cryptocurrencies was indeed broached during a recent meeting – but in the end, the proposal received little sup