From Clean Water Supply to Rebuilding Notre Dame: Crypto and Blockchain in Charity

The technology that underpins cryptocurrencies has been gradually entering the charity sector, purportedly providing more transparency and trust to the industry — especially given a decrease in people’s trust in charity organizations, where the public is increasingly concerned about how charities spend raised money.

Governments and blockchain projects embrace charity space

Governments around the world have been showing increasing interest in blockchain deployment and digital currency adoption for philanthropy,

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What to Expect From the Telegram Open Network: A Developer’s Perspective

Recently, new materials surfaced about the lite client for the Telegram Open Network (TON) blockchain, powered by encrypted instant messaging service Telegram. Based on the content of these documents, it is possible to make a lot of assumptions about its future, especially in regard to comparing TON with competitors — such as the Cosmos network,

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Wanxiang and PlatON Join Forces for Blockchain Infrastructure of New Smart City in China

Automotive giant China Wanxiang Holding Co., Ltd has partnered with blockchain-based tech firm PlatOn to develop a “smart city” in Hangzhou, according to a report by CryptoNinjas on June 20.

According to the report, the smart city—dubbed “Innova City”—will be built with tech using PlatON’s blockchain infrastructure, for purposes like interfacing with city resident ID cards as well as monitoring driving behavior.

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U.S. Authorities Seek Extradition of Alleged Crypto Scammer

The United States Department of Justice (DoJ) has unsealed a fraud complaint against Swedish citizen Roger Nils-Jonas Karlsson and associated firm Eastern Metal Securities (EMS), according to a press release on June 19.

According to the DoJ Karlsson and EMS are charged with committing securities fraud, wire fraud and money laundering. Specifically,

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Global Banking Giant HSBC Launches Tokenization-Based Receivables System for India

Major global banking group HSBC has implemented tokenization technology into its receivables infrastructure for corporate clients in India, according to an announcement on June 18.

The British multinational financial services company has reportedly launched its Digital Accounts Receivable Tool (HSBC DART), based on tokenization technology developed by Australian blockchain-powered Fintech company Identitii Ltd.,

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Ripple to Invest Up to $50M in MoneyGram Following New Partnership

Major money transmission network MoneyGram has entered into a strategic partnership with blockchain-based payments firm Ripple, according to a press release on June 17.

As part of the two-year agreement, the two firms will become partners in cross-border payments and foreign exchange settlements with digital assets. As part of the agreement, MoneyGram will be able to draw up to $50 million dollars from Ripple in exchange for equity.

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Hodler’s Digest, June 10–16: Top Stories, Price Movements, Quotes and FUD of the Week

Top Stories This Week

CCN casts doubt on shutdown plans as Google appears to correct visibility

Cryptocurrency news outlet CCN (formerly CryptoCoinsNews) is apparently not going through with its total shutdown, as reported earlier this week. The outlet had previously posted a note that a recent Google Core Update had led to a more than 70% visibility drop on mobile overnight,

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Coinbase Custody Holds $1.3B in Assets Under Custody, Expects to Hit $2B ‘Soon’

Coinbase Custody revealed that it holds $1.3 billion in assets under custody (AUC) and the firm expects to hit $2 billion AUC soon in a Twitter thread published on June 13.

In a series of tweets, what is evidently the official Coinbase Custody Twitter account reported that last week the company’s CEO,

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Blockchain Developer Dispatch Labs Suffers Losses Despite Market Recovery

Blockchain company Dispatch Labs is incurring considerable losses despite extensive investment and a recovering cryptocurrency market, technology-focused news outlet Cryptobriefing reported on June 14.

Initially, Dispatch Labs received funding from its executive team, subsequently raising over $13 million in a series of private rounds from other investors such as China-based capital firm Fenbushi Capital during the first half of 2018.

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Fundstrat Global Advisors Technical Analysis Points to Further Rally

In its new technical analysis, market research company Fundstrat Global Advisors says that cryptocurrencies are poised to make further gains, Bloomberg reported on June 13.

Per the analysis, most digital currencies are trending upwards as relative-strength-index momentum has begun to turn upward from neutral. The tendency purportedly indicates strength in the markets.

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Is Bitcoin's Increasing Anonymity a Threat to Privacy Coins?

It’s no secret that Bitcoin isn’t actually anonymous, despite what various outside observers of crypto might claim. It is, in fact, pseudonymous, as its transactions are vulnerable to being traced to specific individuals by governments and intelligence agencies with enough determination and knowhow. However, in recent months, the privacy it offers users has been steadily increasing,

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Logistics Firm Panalpina Launches Blockchain Pilots in Its Supply Chain

Swiss forwarding and logistics services company Panalpina has started blockchain pilot projects aimed at optimizing of supply chains, according to a press release on June 11.

After joining the Blockchain in Transport Alliance (BiTA) in May, Panalpina — one of the world’s largest transport and logistics companies, with consolidated profit of $76.3 million in 2018 — has launched two blockchain pilots in the air and ocean freight field with selected customers.

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Cashless-Bound: Japan's Transport and E-Commerce Partnership on the Fast Track

The Japanese transportation industry is leading the country’s long-standing efforts to go cashless. Earlier this month, two major players from the archipelago’s e-commerce and transport industries partnered up to simplify and promote payments that do not require hard cash.

Homegrown e-commerce giant Rakuten plans to incorporate its services into Japan’s premier railway firm,

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G20 Finance Leaders Ask Global Regulators to Consider Multilateral Response to Crypto

G20 finance ministers and central bank governors have asked the Financial Stability Board (FSB) and global standard-setting organizations to monitor risks around crypto assets. The request was made in a joint communiqué published on the website of Japan’s Ministry of Finance on June 9, following the G20 meeting held in Fukuoka, Japan.

The leaders that cosigned the document state that they urge relevant institutions to give greater consideration to crypto assets and consider appropriate action:

“We ask the FSB and standard setting bodies to monitor risks and consider work on additional multilateral responses as needed.”

The joint statement also points out that “technological innovations,

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What to Expect at G-20: Money Laundering and Crypto Discussion

One of the main themes to be discussed at the G-20 Financial Ministers and Central Governors Meeting this weekend has to do with money laundering and cryptocurrency. What kind of agreement would be a surprise? Even for the purpose of introducing Anti-Money Laundering (AML), should we allow our financial privacy to be compromised? Alexander Zaidelson,

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Crypto Exchange With 2 Million Users Launches Apps for Apple and Android Devices

A crypto exchange that claims it has amassed more than 2 million registered users in the space of four months has released new apps for Android and Apple smartphones.

As well as supporting transactions in a multitude of cryptocurrencies, Bitsdaq says its app offers real-time updates on movements in the markets — and enables users to make withdrawals and deposits quickly.

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US Congressman Seeks Tax Clarity for Cryptocurrencies

United States Congressman (R-N.C.) Ted Budd testified to the House of Representatives Ways and Means Committee on purported issues with current tax laws on cryptocurrencies, as per a video of the testimony released on June 4.

Congressman Budd argued that cryptocurrencies should have a de minimis tax exemption like foreign currencies.

Budd commented that he cosponsored bill H.R.3708,

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Binance to Reportedly Introduce Its Own Stablecoins ‘Within Two Months’

Leading cryptocurrency exchange Binance will reportedly issue its own stablecoins within two months, Bloomberg reported on June 5.

Binance’s Chief Financial Officer, Wei Zhou told Bloomberg that the exchange will start issuing its own stablecoins “in a matter of weeks to a month or two,” with the goal to make stablecoins available for more of the world’s currencies.

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Malaysian Securities Regulator Registers Three Cryptocurrency Exchanges

The Securities Commission Malaysia (SC) has registered cryptocurrency exchanges Luno Malaysia, Sinegy Technologies and Tokenize Technology, according to a press release on June 4.

Crypto exchanges are reportedly required by law to register with the SC, and the recently-approved exchanges will have up to nine months to achieve compliance with the SC’s regulation standards.

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Binance Cryptocurrency Exchange Testing British Pound Stablecoin

Major cryptocurrency exchange Binance is apparently testing a British pound stablecoin on its native blockchain, Binance Chain, according to a Twitter post on June 3.

Twitter user CryptosBatman noticed that the listing “$BGBP” appeared on the Binance platform.

Screenshot of stablecoin on Binance Chain. Source: Twitter

Binance CEO Changpeng Zhao has commented on the tweet,

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Binance DEX Will Geoblock Users From 29 Countries, Including the US

The decentralized exchange (DEX) developed by major cryptocurrency exchange Binance will block access to users based in 29 countries. The DEX informs potential users of the restriction via a message that appears when accessing the platform from one of the regions.

The message appearing on the platform states:

“It seems you are accessing www.binance.org from an IP address belonging to one of the following countries:

USA,

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G20 International Watchdog Says Regulators Need Better Crypto Risk Assessments

G20’s international watchdog, the Switzerland-based Financial Stability Board (FSB), said in its latest report that regulators need to improve their risk assessment strategies regarding financial activity in the crypto space, according to a report by Reuters on May 31.

The report noted that one potential risk assessment metric regulators could look at is banks’ and other financial entities’ degree of exposure to cryptocurrency.

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Neo Upgrade Scheduled For Beginning of June, New Oversize Fee Added

The Chinese-based blockchain platform Neo has announced plans to upgrade its mainnet on June 3 at 9:00 am (GMT), according to an official blog post on May 29.

According to the announcement, one of the main consequences of this upgrade is the addition of an oversize fee — measured in the cryptocurrency GAS on the Neo blockchain — for high priority transactions over 1,024 bytes.

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Taotao: Yahoo-Backed Exchange Enters Japan Market Amid Renewed Interest in Crypto

Japanese cryptocurrency exchange Taotao is expected to go live at noon on May 30, as per the company’s official Twitter page.

Notably, the new trading platform is heavily backed by Yahoo Japan, marking the local internet giant’s arrival into the field of crypto. The timing seems to be on point, now that the market has finally shaken off the bear.

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