Government of India to Recognize Crypto as a Payment Method, Experts Optimistic

Cryptocurrencies have found an unlikely ally in their quest to become legalized in India, following intense legal battles between companies, consumers, and the Reserve Bank of India. The recommendation to legalize crypto comes from the law commission of India, as they are a vital part of their case against a blanket ban on sports betting.

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Vietnamese Regulator Tells Firms and Funds to Stay Away From Crypto

Regulation

Vietnam’s securities watchdog has required local businesses not to engage in transactions with cryptocurrencies. The announcement follows a directive issued by the country’s prime minister earlier this year aimed at tightening what Vietnamese regulators call the management of crypto activities.

Also read: China Releases Ranking of 31 Crypto Projects

Securities Watchdog Asks Companies to Obey AML Rules

The State Securities Commission of Vietnam (SSC) has required relevant companies and funds not to engage in any issuance,

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Chinese Influencers Call for Blockchain to Solve Food and Drug Safety Problem

As the Chinese population experience a food and drug safety crisis, with the latest scandal being a fraudulent rabies vaccine for babies, leading technology experts are confident that the blockchain could solve problems related to lack of transparency in China’s food and drug industries.

Decentralized Supply Chain May End Food and Drug Safety Scandals in China

The most recent drug safety scandal involved Changsheng Biotechnology,

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Wall Street Traded $572 Million in Bitcoin Futures During Tuesday’s Bull Run


The bitcoin price is rallying, and this time, it looks like Wall Street has shown up to the party.

On Tuesday, bitcoin brief briefly broached the $8,500 threshold on Bitfinex for the first time since mid-May, and while it has since pulled back several hundred dollars from that two-month high,

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Bitmain Discloses Shipping and Mining Policies for a ‘Fair and Transparent Ecosystem’

Chinese mining hardware giant Bitmain, one of the leading Bitcoin (BTC) mining firms worldwide, announced its policies for mining practices, according to an official blogpost July 25.

The recent list of policies intend to show Bitmain’s commitment to providing a “fair and transparent cryptocurrency ecosystem” in terms of policies for mining hardware shipping as well as those of mining practices.

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Most Complex dApp on Ethereum Already Has Millions of Dollars at Stake


Augur, which its co-founder Joey Krug previously described as the most complex decentralized application (dApp) on the Ethereum blockchain, has surpassed a million dollars at stake and demonstrated a rapid growth rate over the past few weeks.

Future of Decentralized Betting

In essence, Augur is a decentralized betting platform that exists on the Ethereum network.

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Rising Hong Kong Startup Criticized for Selling Majority Stake to Invest in Cryptocurrency


Hong Kong’s fifth-largest bike sharing startup has sold 60 percent of its stake to invest in the cryptocurrency market, or two ERC20 tokens to be exact.

$1 Million in Tokens

Ketch’up Bike, a top five bike sharing company in Hong Kong that oversees more than 1,000 bicycles,

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J-Pop Star GACKT Caught Between Crypto Company Spindle and Minister’s Gaffe

News

Spindle, Japan’s largest ICO officially promoted by a J-Pop star, Gakuto Oshiro, (45) better known by his stage name GACKT, was the unnamed crypto company allegedly slammed by the FSA earlier this year, a weekly Japanese magazine revealed. The company, which began dealing its own cryptocurrency,

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Qtum Platform Now Available Through Amazon Web Services

Singapore-based Qtum has launched its decentralized application (DApp) development platform on Amazon Web Services (AWS). With this launch, AWS users and developers will be able to develop and launch smart contracts using an Amazon Machine Image (AMI), made up of Qtum Core, Solidity and Qmix web IDE.

Qtum is a hybrid platform,

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Japan: Self-Regulatory Crypto Exchange Association Considers Margin Trade Limits to Stem Losses

The Japan Virtual Currency Exchange Association (JVCEA) said it wants to place restrictions on member exchanges’ margin trading. The news of the plans of Japan’s self-regulatory cryptocurrency body comes from a Chinese media report July 24.

Margin trading is the practice of borrowing money from the broker, used by crypto traders to buy or sell more cryptocurrency than they could afford on their own –

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Indian Law Commission Recognizes Cryptocurrency as an ‘Electronic Payment’: Report


The cryptocurrency ecosystem in India may have just found a lifeline, albeit an unlikely one.

According to a legal report released in July 2018, the country’s lawmakers are considering legalizing the multi-million dollar sports betting industry – naming cryptocurrencies as a legally acceptable payment method akin to credit and debit cards.

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Bitcoin Holds Recent Gains Amid a Checkered Market Outlook

July 25: Bitcoin (BTC) is holding its newly won gains, having led the week’s impressive uptick to stay above $8,000. Other leading cryptocurrencies are seeing mixed fortunes, according to data from Coin360.

Market visualization from Coin360

Bitcoin (BTC) is trading around $8,200 to press time, down about half a percent on the day.

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China's Answer to Reddit Is Launching a Crypto Token

One of the oldest and most popular social networking platforms in China is launching its own crypto token in an apparent bid to boost declining user activity.

Tianya Club, an internet forum founded in 1999, announced on Wednesday it will launch the blockchain-based Tianyan Token (TYT) on Aug. 8 as a way to reward original content contributions and participation in community activities.

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Chinese Research Institute Report Finds Blockchain Can Enhance Financial Services

A Chinese scientific research institute and value-added Internet service provider Tencent Holdings have jointly released a July 24 report emphasizing the impact of blockchain on the transformation of traditional financial services.

The Academy of Information and Communications Technology, a scientific research institute under China’s Ministry of Industry and Information Technology (MIIT), and China’s Tencent Holdings’ report includes eight core conclusions of blockchain implementation in the financial sector.

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Coinbase Enables Cryptocurrency Gift Cards in Europe and Australia


Cryptocurrency exchange giant Coinbase has struck a new partnership to enable customers in Europe and Australia spend their cryptocurrency at major retailers and services including Nike and Uber.

Coinbase is partnering WeGift, a London-based FinTech startup for the new service which allows its users to fundamentally withdraw their cryptocurrency into gift cards that can be used at over 120 retailers including Uber,

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Bitcoin Mining Giant Bitmain Eyes $1 Billion Pre-IPO Financing: Report


Already the world’s most valuable cryptocurrency company, Chinese bitcoin mining hardware manufacturer Bitmain is reportedly enticing investors toward a new $1 billion financing round ahead of its anticipated public listing in Hong Kong.

According to regional news resource Toutiao, Bitmain is looking at a new round of financing – its biggest yet – near the end of July that would see firm valued just a peg below semiconductor giant AMD,

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Is Blockchain About to Become a Patent War Battleground?

Last week, news of at least three major players applying for blockchain-related patents emerged: Bank of America sought to legally protect its blockchain-based system allowing the external validation of data, Barclays filed two patent applications relating to the transfer of digital currency and blockchain data storage, while MasterCard’s application mentioned a form of a public blockchain-based method for linking assets between blockchain and fiat accounts.

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Who Are the Brightest Minds in Crypto Featured Among Fortune’s ‘40 Under 40’

The world of finance is driven by some of the greatest minds out there, but every year we see new faces pop up on the list of the industry’s most influential.

This month, Fortune released their list of ‘40 under 40,’ a compendium of the most influential figures in the global business space.

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Bitcoin Dominates Fortune’s Most Impressive, Young Superstars List

News

“For the first time ever,” Fortune magazine announced, it “has assembled a supplementary honor roll of the most impressive, young superstars who are transforming business at the leading edge of finance and technology.” They’ve selected forty representatives from all over fintech, and each is under forty years old.

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Japanese Crypto Exchanges Push for Limit on Margin Trading Borrowing

A self-regulatory organization formed by cryptocurrency exchanges in Japan is proposing a limit on how much investors can borrow when margin trading.

According to a report from Jiji Press on Tuesday, the Japan Virtual Currency Exchange Association (JVCEA) has suggested domestic trading platforms enforce a restriction that investors can only borrow up to four times their deposit.

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FINMA Seeks to Stem Exodus of Swiss Cryptocurrency Firms

Finance

The Swiss Financial Market Supervisory Authority (FINMA) has met with representatives of the country’s banking sector in the hopes of stemming a nascent exodus among cryptocurrency companies from Switzerland. The companies’ departures have been attributed to two Swiss banks’ decisions to no longer provide financial services to businesses dealing with virtual currencies.

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Index ETF Tracking 10 Cryptocurrencies Filed With SEC

Index ETF Tracking 10 Cryptocurrencies Filed With SEC

Finance

Bitwise Asset Management has announced its plan to launch “the first publicly-offered cryptocurrency index exchange-traded fund (ETF).” A registration statement has been filed with the U.S. Securities and Exchange Commission. The fund will track the returns of the company’s Hold 10 Index which aims to capture 80% of the total market capitalization of the cryptocurrency market.

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Binance Plans to Expand Into South Korea

Cryptocurrency exchange Binance is making plans to expand operations into South Korea, reports Business Korea.

Per the report, Binance CEO Changpeng Zhao hinted at his company’s expansion plans while speaking at the Blockchain Partners Summit in Seoul last weekend.

While South Korea is presumed to be the third-largest crypto market after the U.S.

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