Transnational Cybercrime Group Co-Founder Who Amassed $568M Pleads Guilty

A Russian national behind the cybercriminal enterprise Infraud Organization has pleaded guilty on June 26 to racketeering conspiracy, due to his role as a co-founder and admin of the dark web-based carding portal which generated profits over $568 million.

According to the announcement made by the U.S. Department of Justice, or DOJ,

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Chinese Tech Group Behind TikTok Looks to Enter Finance

ByteDance, the Beijing-based multinational tech group behind Tiktok, is looking into adding banking to its line of products and services. It is currently bidding for a digital bank licence in Singapore, according to the Financial Times on June 15. 

Competition is stiff

ByteDance is likely to compete with a few other Asian tech giants including Alibaba’s Ant Financial and electronic leader Xiaomi to obtain one of the five virtual banking licences that the Monetary Authority of Singapore is about to issue later this year. 

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Fidelity International Invests in Hong Kong Crypto Company BC Group

Fidelity International has acquired a stake in BC Group, the operator of OSL, one of Asia’s largest digital asset platforms for institutions. The company purchased 17 million shares for a 5.6% ownership position.

The purchase was revealed by a Hong Kong Stock Exchange (HKEx) disclosure filed on Feb. 17. The actual transaction occurred on Feb.

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Japan’s SBI Group to Develop Crypto Derivatives Platform Following New Investment

Japanese financial services giant SBI Holdings will expand its crypto business portfolio by acquiring a 12 percent stake in Clear Markets, according to SBI’s financial results report published July 31. SBI is scheduled to acquire up to 20 percent in the future.

Clear Markets is a U.S.-based electronic trading platform developer and operator that offers over-the-counter derivatives electronic trading services in the U.S.,

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Fatfish Internet Group: Markets Could ‘Accept’ Bitcoin ETF Within ‘Couple Of Months’

Global markets will be “ready to accept” a Bitcoin (BTC) exchange-traded fund (ETF) in as soon as a “couple of months,” Fatfish Internet Group CEO Kin-Wai Lau told CNBC on July 29.

Speaking to CNBC’s dedicated cryptocurrency segment, the Coin Rush, Lau expressed a firm belief in Bitcoin’s current price rally, explaining,

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China: Blockchain Group From Three Telecoms Giants Begins Exploring Use Cases

China’s three major telecoms operators launched a blockchain research group, which has held its first meeting, local media outlet Fintech News reports July 23.

The product of China Mobile, China Unicom and China Telecom, the group involves a total of twenty experts from eight companies including Huawei, Union Mobile, and Financial Technology (UMF).

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Newly Created Industry Group Initiative Aims to Address Bitcoin Scalability Issues

A team of Bitcoin engineers has announced the launch of the Bitcoin Operations Technology Group (Bitcoin Optech) addressing the problem of Bitcoin’s scalability, according to their statement published July 20.

Bitcoin Optech is a non-profit organization backed by leading industry players like Xapo CEO Wences Casares,

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Chaincode Devs, Google Alumni Create Industry Group to Help Bitcoin Scale

Scaling has been a heated topic for the bitcoin community for some time. Further, even when a technology does become available, getting people to use it becomes the next big hurdle. Segregated Witness has not been fully adopted by all wallets and service providers, and not all exchanges batch transactions, to name two examples.

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Group Purchasing Organization of Healthcare Resources THEKEY Making Another Attempt in Blockchain Application


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China to Lead International Standardization Research Group for IoT, Blockchain Tech

China will lead an international research group on the standardization of the Internet of Things (IoT) and blockchain technology, local news outlet Science and Technology Daily reports July 18.

The joint technical committee of the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) have adopted the proposal for the creation of this international research group after a month of a discussion by committee members.

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