NBA-China Scandal Crashes Nike Sneaker-Backed Crypto Token Price

A now-viral post by a Chinese cryptocurrency trader has highlighted the stark drop in the price of American sneaker-backed tokens in the wake of the fallout between the NBA and China.

As Reuters reports on Oct. 16, the anonymous trader’s Weibo post from earlier this month had shone a spotlight on an apparent 10% crash in the price of crypto tokens backed by Nike’s Air Jordan sneakers on a United States-based exchange.

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Nasdaq Lists AI-Powered Crypto Index for Top 100 Coins

The world’s second-largest stock exchange, Nasdaq, has listed the AI-powered CIX100 index created by crypto data provider Cryptoindex. The news was revealed in a press release shared with Cointelegraph on Oct. 15.

Neural network-based analysis

CIX100 is a crypto market benchmark that analyzes uses a neural network algorithm to analyze data for the top 100 cryptocurrencies,

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N. Korean Hackers’ New MacOS Malware Hides Behind Fake Crypto Firm

The notorious North Korean hackers known as the Lazarus APT Group have created another malware targeting Apple Macs that masquerades behind a fake cryptocurrency firm.

Apple Mac security specialist and principal security researcher at Jamf Patrick Wardle published a blog post on Oct. 12 outlining the nature of the malware, revealed by MalwareHunterTeam (MHT) researchers the previous day.

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‘Hurun China Rich List 2019’ Features 12 Crypto Magnates

“Hurun China Rich List 2019” published by Hurun Report, a research, media and investments firm, features 12 local cryptocurrency magnates.

The latest list was published on Oct. 10 and includes co-founders of mining giant Bitmain Micree Zhan and Jihan Wu, founder of major crypto exchange Binance Changpeng Zhao and founder of competing OKCoin — Star Xu.

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South Korea Is Hoping for Regulatory Clarity as Crypto Laws Toughen

South Korean regulators seems to strongly favor blockchain over cryptocurrencies, and some recent events have further proven this hypothesis. As a result, as much as 97% of local digital assets exchanges are in danger of extinction, local reports suggest. 

Meanwhile, local politicians and regulators have started lobbying a new set of regulations,

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Bithumb Global to Launch Regulated Crypto Exchange in India: Report

South Korean exchange Bithumb’s international platform Bithumb Global is looking to establish a regulated cryptocurrency exchange in India.

The firm is planning to expand its services to India by partnering with local crypto exchanges, funding local blockchain startups and working on new industry initiatives, local media outlet The Economic Times reports Oct.

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How Crypto Gambling Is Regulated Around the World

The Japanese House of Representatives recently passed new crypto asset regulation affecting exchanges and custodians — the Payment Services Act and the Financial Instruments and Exchange Act. However, the country’s crypto gambling industry still endures strict gambling regulations. 

“Japan has very strict rules regarding gambling and the same applies to crypto gambling,” Joseph D.

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ING Chief Economist: Libra Accelerating Central Banks’ Crypto Plans

The chief economist of Dutch multinational banking and financial services giant ING says that Facebook’s plan to launch a digital currency has put pressure on central banks to launch their own.

In an article and video interview published on ING’s THINK portal on Sept. 27, Mark Cliffe said that there was “some urgency in the policy community” sparked by Facebook’s unveiling of the Libra stablecoin,

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Economic Turmoil: The Chances and Challenges for Blockchain and Crypto

Everywhere you look these days, there’s turbulence in the economy. A bitter trade war is seeing the United States and China slap ever-increasing tariffs on goods on a tit-for-tat basis. Over in the United Kingdom, never-ending uncertainty shrouds Brexit, with politicians in Westminster and Brussels at an impasse over the country’s imminent departure from the European Union. 

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Armenian IT Company Accused of Illegal Electricity Use to Mine Crypto

An IT company in Armenia has been accused of illegally accessing electricity and using it to mine cryptocurrencies.

$150,000 in power

On Sept. 21, in an announcement from the Armenian National Security Service, the organization accused an IT company of illegally mining cryptocurrencies from inside a hydropower plant.

The state agency reported that the IT company had installed cryptocurrency mining equipment inside one of the hydropower plants operating in Armenia and as a result illegally consumed 1.5 kilowatt-hours of electricity — worth more than $150,000,

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Kyrgyzstan Cuts Off Power to 45 Crypto Miners for Overconsumption

Authorities of Kyrgyzstan cut off power to 45 crypto mining firms as they consumed more energy than three local regions combined.

Following the power cut, the head of the National Energy Holding Aitmamat Nazarov stated that the cryptocurrency mining is not defined under Kyrgyzstan law, local news agency AKIpress reported on Sept.

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ING: 32% of Europeans Believe Crypto Is the Future of E-Payments

Most Europeans believe cryptocurrencies can be spent in most stores, according to the results of a survey conducted by ING Bank and published on Sept. 18.

Crypto can be spent in most stores?

The survey, which has seen 15,000 Europeans from 15 different countries answer questions about crypto, revealed that 51% of the respondents believe cryptocurrencies can be spent in most stores. 

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Crypto News From Asia: Sept. 9–15

In this week’s selected cryptocurrency- and blockchain-related news from Cointelegraph Japan, government and industry officials secured important appointments, while new data shows the popularity of cryptocurrencies and their favored uses in Japan and China. 

Expert: Bitcoin is most commonly used for remittances in China

On Sept. 11, Cointelegraph Japan reported that Sunny Wang,

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Chinese Authorities Plan Crackdown on Crypto Mining in Inner Mongolia

Regulators in the Chinese autonomous province of Inner Mongolia have issued a notice demanding a clean-up of the province’s crypto mining enterprises.

Terms of notice

As local crypto outlet ChainNews reported on Sept. 14, five departments within Inner Mongolia have determined the need to rectify the mining industry within the province.

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BlockFi Clients Can Now Start Earning Interest On Any Amount of Crypto

Clients of BlockFi, a cryptocurrency lending company, will now be able to start earning interest on any amount of Bitcoin (BTC), Ether (ETH), and Gemini Dollar (GUSD).

No minimum deposit to earn interest

On Sept. 13, the New York-based cryptocurrency lending company, BlockFi, announced that, starting today, its BlockFi Interest Account (BIA) clients will not be required to meet a minimum deposit amount in order for them to earn interest on their Bitcoin,

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SWIFT: Crypto Useless, ‘Goes Down In Value Like A Yoyo’

Interbank payments network provider, the Society for Worldwide Interbank Financial Telecommunications (SWIFT), has dismissed cryptocurrencies as being “useless and unstable.”

An FXStreet report published on Sept. 10 cites unnamed SWIFT representatives at a London briefing earlier this week, who reportedly claimed that:

“They go down in value like a yoyo,

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Crypto News From Japan: Sept. 2–8

Japan, one of the leading markets for cryptocurrencies, has seen a series of important developments for the cryptocurrency and blockchain industries this week. The country’s financial regulator, the Financial Services Agency (FSA), has licensed crypto-related businesses. Japanese Deputy Prime Minister and Finance Minister Taro Aso noted that regulators need to find new approaches to address emerging technologies like cryptocurrencies and blockchain.

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Japan Grants Crypto Exchange License to Messaging Giant LINE

LVC Corporation, the digital asset- and blockchain-focused arm of Japanese messaging giant LINE, has obtained a crypto exchange operating license from Japan’s financial regulator.

The news was reported by Cointelegraph Japan on Sept 6.

Trading for 5 major cryptocurrencies

As previously reported, LVC Corp.’s trading platform, to be dubbed BITMAX,

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IEOs, ICOs, STOs and Now IDOs — How to Raise Funds for Crypto in 2019?

The crypto community has seen a tectonic shift in fundraising trends: from the decline of initial coin offerings (ICOs) to the hype around security token offerings (STOs) and then the rise of initial exchange offerings (IEOs). The inclination for fundraising seems to evolve every year. Similarly, 2019 brought with it a new way for crypto businesses to launch their tokens.

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Switzerland’s First Licensed Crypto Bank is Eyeing Singapore Next

Swiss and Singapore-based cryptocurrency firm Sygnum is in talks with local regulators to seal a banking license in Singapore.

Business News Bloomberg reported on Aug. 28 that Syngum — which has only just recently been issued a conditional banking and securities dealer license in Switzerland — aims to become a fully regulated bank in Singapore as well.

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Crypto News From Japan: Week in Review

Japan is a friendly jurisdiction for cryptocurrency trading and development, having eliminated the consumption tax on Bitcoin (BTC) trading in 2017, after which it recognized the coin as legal tender. This week in Japan, a crypto exchange that was hacked earlier this year has closed its doors, while the central bank has come out as bullish on blockchain technology.

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Crypto Taxation Around the Globe — What Do Regulations Look Like?

Upon its inception, Bitcoin was envisioned as a borderless currency that could be used by its owners without being affected by the regulatory impositions of any centralized agency or government body. And while this idea in itself is quite grand, the fact of the matter is that today’s crypto owners (across the globe) are subject to varying tax restrictions on their digital holdings by local regulatory bodies.

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Saudi Arabia Warns of Crypto Scammers Posing as Gov’t Projects

Saudi Arabia’s Finance Ministry has warned against crypto tricksters using the kingdom’s official emblem to promote tokens that purport to be tied to government projects.

Arab News reported on Aug. 21 that the ministry has identified a Singapore-based company promoting two fraudulent cryptocurrencies, dubbed “CryptoRiyal” and “SmartRiyal.” 

Fraud alert: hype and pump

CryptoRiyal and SmartRiyal’s promoters are reportedly claiming that their cryptocurrency project’s ultimate goal is to finance NEOM — a smart city and tourism hub currently under construction in the north of Saudi Arabia. 

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Singapore Crypto Association Launches Code of Practice

The Association of Cryptocurrency Enterprises and Startups, Singapore (ACCESS) has developed a Code of Practice in partnership with multinational law firm Linklaters.

A Global Legal Post report published Aug. 19 revealed that ACCESS had the support of the Monetary Authority of Singapore (MAS) — the country’s central bank and regulatory authority — and also consulted the Association of Banks in Singapore to launch the new initiative.

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Korean Internet Giant Kakao Teases Its Crypto Wallet for 50M Users

South Korean internet giant Kakao Corp has launched a teaser page for its forthcoming cryptocurrency wallet, Klip.

According to a report from News1 Korea on Aug. 12, Kakao has made the wallet teaser page available as part of the “More” tab on its messaging app KakaoTalk — the platform into which the real wallet will eventually be integrated.

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