Central Bank of Laos Issues Warning Against Using Cryptocurrency

The central bank of Laos has warned the public against the use, purchase or sale of digital currencies, local news outlet Vientiane Times reported on May 21.

The Bank of the Lao PDR has issued a warning to financial market participants and the public against cryptocurrency transactions as they are considered illegal in the country.

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Platform Allows Users to Send and Receive Cryptocurrency With Gadget of Their Choice

The team behind a private digital currency for secure payments says its goal is to make every consumer their own bank — enabling them to send and receive crypto with the gadget of their choice.

Xeonbit says its peer-to-peer technology ensures that every user’s accounts and transactions are “out of reach to any prying eyes.” A feature known as “ring signatures” means public keys are shuffled in order to ensure that particular users cannot be identified once a transaction has taken place.

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Official Chinese Currency Renminbi to Become Cryptocurrency, Expert Says

Donald Tapscott, executive chairman of the Blockchain Research Institute,  stated that the official Chinese currency, the renminbi (RMB), will become a cryptocurrency, in an interview with Bloomberg on April 17.

In the interview, Tapscott revealed that he had recently been at a meeting with the vice-chairman of the Communist Party in China,

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Tor Digital Privacy Project Accepts Donations in Cryptocurrency

Tor digital privacy software is now accepting donations in various cryptocurrencies, as a new crypto donational portal appeared on the project’s website on March 18.

The site now accepts nine major cryptocurrencies, namely Bitcoin (BTC), Bitcoin Cash (BCH), Dash (DASH), Ethereum (ETH), Litecoin (LTC), Monero (XMR), Stellar Lumen (XLM), Augur (REP) and Zcash (ZEC).

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Major Latin American E-Commerce Company Bans Cryptocurrency-Related Ads

The largest e-commerce company in Latin America, Mercado Livre, has banned cryptocurrency advertising on their website, Cointelegraph em Português reported on March 18.

The development was revealed in an exclusive interview with Cointelegraph em Português after the company’s users reported receiving of emails informing them about the change in Mercado Livre’s policy.

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20-Year Old Hacker Pleads Guilty to $5 Million Cryptocurrency Theft

After stealing $5 million in cryptocurrency from 40 victims through SIM swapping, 20-year-old Joel Ortiz, pleaded guilty to theft and accepted a plea deal of 10 years in prison as reported by Motherboard, a division of news outlet VICE, on Feb 1.

Ortiz accepted the plea deal last week, according to Erin West,

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Dutch Central Bank Proposes License Requirement for Cryptocurrency Service Providers

Cryptocurrency service providers will soon be required to obtain a license from the central bank of the Netherlands, major Dutch news outlet DeTelegraaf reports Dec. 11.

The article explains that the measure has been undertaken hoping that it will “prevent such cryptocurrencies being used to launder money obtained through crime or to fund terrorism.”

To qualify for a license,

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Crypto.com Nets Ex-PayPal Exec to Increase Merchant Cryptocurrency Adoption

Hong Kong-based cryptocurrency payment platform Crypto.com has hired a former PayPal executive, the company confirmed in a press release Dec. 11.

Tyson Hackwood will join the crypto firm as its senior vice president and head of global merchant acquisition. Crypto.com, which came into being after cryptocurrency debit card provider Monaco acquired the domain name for a reported $10 million in July,

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Hong Kong Issues New Rules to Regulate Cryptocurrency Funds and Exchanges

Hong Kong’s securities regulator issued a statement setting out guidelines for funds dealing with cryptocurrency Thursday, Nov. 1, saying it could move to formally regulate exchanges.

In what it called “guidance on regulatory standards,” the autonomous Chinese territory’s Securities and Futures Commission (SFC) set in motion a series of steps that chief Ashley Alder hinted would culminate in a formal regulatory environment.

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Russia’s ‘Disappointing’ Cryptocurrency Legislation: Why Experts Consider the Bill a Failure

Russia has been trying to pass cryptocurrency legislation since the beginning of January 2018, with no success as of yet. The government’s main bill, “On Digital Technologies,” which was expected to be passed by July 1 — according to the wishes of President Vladimir Putin — will instead most likely be pushed back until an October Duma session.

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Despite Ban, China Keeps Trading Cryptocurrency Thanks to Tether and VPNs, Says Report

Chinese traders are using virtual private networks (VPNs) as a major tool to circumvent the ongoing government crackdown on cryptocurrency trading, local media outlet South China Morning Post (SCMP) reported September 8.

According to SCMP, referencing reports from Beijing-affiliated Shanghai Securities Times, traders have begun leveraging stablecoin Tether (USDT) as a means of entering and exiting cryptocurrency markets.

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July Roundup: Cryptocurrency Winners and Losers

Top performing cryptocurrencies were Bitcoin, Stellar, and Zcash while Binance Coin, Tezos, OmiseGO and Qtum were the biggest losers.

As another month passes in crypto land it is time to look back at the best and worst performing cryptocurrencies in July. Following the yearly lows in June things promised to be more positive in July.

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SBI Invests $9 Million in Institutional-Grade Cryptocurrency Derivatives Platform


Japanese financial services giant SBI Holdings has invested $9 million in U.S. digital marketplace architect Clear Markets to fund the latter’s creation of a cryptocurrency derivatives trading platform built for institutional investors.

Nikkei Asian Review reports that SBI Crypto Investment has obtained a 12 percent stake in Clear Markets,

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Cryptocurrency Exchange Binance Buys Ethereum Wallet Service in First-Ever Acquisition


Binance, one of the world’s two largest cryptocurrency exchanges, has just completed its first-ever acquisition.

According to TechCrunch, the Malta-based exchange operator acquired Trust Wallet, creator of the eponymous mobile Ethereum wallet that includes support for ether, as well as ERC-20 and ERC-223 tokens. Terms of the deal have not been disclosed,

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Analysts: China’s Cryptocurrency Could Be Bigger Than Bitcoin

News

Experts believe China is far from uninterested in cryptocurrency despite its overt efforts at bans of one kind or another. In fact, it is widely believed the communist government is contemplating its own version of a state backed cryptocurrency. Should that be the case,

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Six Tools Used by Hackers to Steal Cryptocurrency: How to Protect Wallets

In the early July, it was reported that Bleeping Computer detected suspicious activity targeted at defrauding 2.3 million Bitcoin wallets, which they found to be under threat of being hacked. The attackers used malware — known as “clipboard hijackers” — which operates in the clipboard and can potentially replace the copied wallet address with one of the attackers.

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Japanese Cryptocurrency Exchanges Plan Limits on Borrowed Margin Trading


Japan’s primary self-regulatory body for cryptocurrency exchanges is finalizing a proposal to enforce a limit on the amount of funds investors can borrow for margin trading of cryptocurrencies.

The Japan Virtual Currency Exchange Association (JVCEA) is proposing a 4-to-1 limit on margin trading wherein investors will only be allowed to borrow up to four times their original deposit,

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Vietnam’s Securities Watchdog Bans Industry from Cryptocurrency Activity: Report


The State Securities Commission of Vietnam (SSC), the country’s stock market watchdog, has reportedly forbidden industry firms from engaging in cryptocurrency-related activities.

Vietnam’s official state news agency is reporting that the country’s securities markets watchdog has ‘required’ the industry to not partake in “any issuance, transaction or brokerage activities related to cryptocurrencies” in a circular to all relevant institutions.

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Cryptocurrency Market Update: Stellar Flies High on New Partnership

Crypto land is still in the green, Stellar, ChainLink, Stratis and Komodo making good gains.

The correction has not happened yet and markets are still creeping higher. Only Bitcoin and a couple of altcoins seem to be the beneficiaries however. Total market capitalization has broken $300 billion and is holding just above it at the moment.

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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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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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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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How Cryptocurrency Prices Work, Explained

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Tracking the price of Bitcoin gives us a good indication of the overall cryptocurrency market in the past 18 months.

Bitcoin started 2017 at under $1,000 and took a dip when China announced investigations into cryptocurrency exchanges in the country. At that point, the majority of Bitcoin trading took place in China,

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Ban U-Turn? India’s Central Bank Admits Cryptocurrency Regulation is Necessary


In a first, India’s central bank has called for the regulation of the domestic cryptocurrency sector during Friday’s hearing at the Supreme Court, weeks after enforcing a banking ban against crypto companies.

Earlier in April, the Reserve Bank of India (RBI) issued a circular that forbade all financial institutions – banks included – from offering services to businesses in the cryptocurrency sector.

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Insurance Giants See ‘Big Opportunity’ in Cryptocurrency Storage Coverage


Big insurance companies such as XL Group, AIG and Chubb are quietly offering cryptocurrency insurance as cryptocurrencies and blockchain technology continue to gain acceptance.

While the insurance companies active in this sector are not doing a lot to publicize their activities, those interviewed said they can avoid liabilities.

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