New in Healthcare: Aletheia Auditing API

  • The new tool is provided by SimplyVital Health, a company focused on building trusted value-based care networks.
  • Aletheia uses smart contracts to store cryptographic hashes and metadata on public blockchain such as Ethereum and Nexus.
Illustration of doctor diagnosing patient. Freepik

  • The new tool is provided by SimplyVital Health, a company focused on building trusted value-based care networks.
  • Aletheia uses smart contracts to store cryptographic hashes and metadata on public blockchain such as Ethereum and Nexus.
Large data center. The Startup

ILCoin Announce 5GB Blocks, Launch of RIFT Protocol

  • The new RIFT protocol also supports a little over 23 million transactions per block, considering 3-minute block generation time.
  • The protocol rethinks the networking structure and introduces a second level of 'mini-blocks'.
Aeternity announcing the Starfleet program in India at the Genesis DevCon 2019, hosted by IBC Media. Aeternity

India Pushing for Blockchain Development at First Genesis DevCon

  • Speakers at the conference covered a wide range of topics, focusing on blockchain in IoT, AI, and supply chain.
  • At the conference, Aeternity launched their Global Starfleet Accelerator program, while Nucleus Vision launched their Global Identity and Consent blockchain network.
Yuming Yuan, CEO of Huobi Research, talking about new trends and use cases for blockchain tech. Huobi Global

First Chinese State-Sanctioned Global Blockchain Forum Announced by Huobi

  • The forum’s guests of honor come from countries part of the China-found Belt and Road Initiative.
  • As part of the International Cooperation Forum Huobi Global will announce the 'Global Digital Financial Thinktank' and share more information on their ecosystem and initiatives.

South Korean Crypto Exchanges Now Heavily Regulated

  • Crypto exchanges in the country are now required to have real name virtual bank accounts.
  • Violations of the new rules can result in up to 5 years in prison and 50 million Won, roughly $42,000 USD.

  • Crypto exchanges in the country are now required to have real name virtual bank accounts.
  • Violations of the new rules can result in up to 5 years in prison and 50 million Won, roughly $42,000 USD.

Quant, Constellation Building the Decentralized IoT Future

  • The two companies aim to solve current IoT problems by providing robust access to data and blockchain interoperability.
  • A recent paper titled "An Internet for Automation with IoT and Edge Devices" goes into technical details on exactly how the two companies will cooperate.
Isometric smart city futuristic concept. Freepik

  • The two companies aim to solve current IoT problems by providing robust access to data and blockchain interoperability.
  • A recent paper titled "An Internet for Automation with IoT and Edge Devices" goes into technical details on exactly how the two companies will cooperate.

Swiss Stock Exchange Lists WisdomTree’s Bitcoin ETP

  • Targeted at professional and institutional investors, the new physically-backed Bitcoin ETP will trade under the BTCW ticker symbol.
  • Similarly to gold-backed ETP's, investors in the product will have an entitlement to the cryptocurrency underlying it.

Steemit Releases Token Launching Protocol

  • The new Smart Media Tokens will allow users to build their own cryptocurrency on top of the Steemit blockchain.
  • The custom tokens will benefit from all features of the Steemit ecosystem, including three second block times and the 'proof-of-brain' algorithm.

Binance Acquires DappReview

  • Binance will provide the platform with support in non-technical fields, such as marketing and business development.
  • DappReview will maintain its independence in areas such as technical development and operations.
Binance CEO Changpeng Zhao speaking at a conference. ELEVENNEWS

  • Binance will provide the platform with support in non-technical fields, such as marketing and business development.
  • DappReview will maintain its independence in areas such as technical development and operations.

Editors' Picks

SoftBank Reveals New Blockchain Wallet Card

  • SoftBank's new SBC Wallet Card can be used as a basic debit card and as a way to store cryptocurrency thanks to its built-in blockchain wallet.
  • Managed through a special application, the card can be used both for hot and cold digital currency storage.
SoftBank Group CEO Son Masayoshi presents earnings figures. Alessandro Di Ciommo/NurPhoto/Getty Images

  • SoftBank's new SBC Wallet Card can be used as a basic debit card and as a way to store cryptocurrency thanks to its built-in blockchain wallet.
  • Managed through a special application, the card can be used both for hot and cold digital currency storage.

New Binance Launchpad IEO: Troy Trade

  • Troy Trade will try to raise $4 million through its token sale, for which it has allocated 8% of its total supply.
  • The firm has also prepared 40 million tokens to be airdropped to Binance Launchpad users who were unable to participate in the IEO.

Bakkt to Launch Cash-Settled Bitcoin Futures

  • Bakkt's new Bitcoin cash-settled futures contracts will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore.
  • The price of the new contracts will be settled against existing physically delivered bitcoin futures contracts.

The Winklevoss Twins Acquire Nifty Gateway

  • The Nifty Gateway platform facilitates the purchase of non-fungible tokens for some of the most popular crypto games and apps.
  • The reason behind the purchase was the twins belief that all collectibles, real-world and digital, will one day transition to a blockchain.

Innovative Technology to Transform Humanitarian Donations

  • The GIGA initiative aims to provide access to the internet to every school where UNICEF operates.
  • This is among the first programs to be funded through cryptocurrency, making it a lot more accessible, secure, and fast.

Brave Releases 1.0 Version of Their Innovative Browser

  • The need for private internet experience and the growing problem of data privacy has inspired the creation of the browser.
  • Brave’s browser loads much faster than its main competitors, uses less memory and data.

HTC’s New Limited Edition Smartphone Supports Binance Chain

  • The Exodus 1 Binance Edition will integrate its native crypto wallet app with Binance DEX.
  • Soon to be made available on the HTC website, and priced at $599, the phone could be purchased through cryptocurrency.

6-Figure Influential Bitcoin Trader Forecasts a Continued BTC Price Slump

  • Zoran Kole, a highly respected crypto trader, states that the bottom of the pit is yet to be seen.
  • The effects of Bakkt's launch on the digital assets market are yet to match the hype that was mounting during the project's development.

Coca-Cola to Use Blockchain for Supply Chain Management

  • Coca-Cola's blockchain pilot will be expanded from 2 to 70 of the manufacturers that bottle and ship nearly 160,000 bottles daily.
  • The blockchain solution was developed by German software firm SAP, and aims to improve distribution for all participants in the network.

Opinion

Chinese President Xi Jinping speaks at the podium during the unveiling of the Communist Party's new Politburo Standing Committee at the Great Hall of the People on October 25, 2017 in Beijing, China. Lintao Zhang/Getty Images

Can China’s Blockchain Push Unleash the End-of-Year Bulls?

  • China publicly announcing their support for blockchain innovation seems to have given the bulls a reason to charge again.
  • Total crypto market cap has jumped by more than $40 billion in a matter of hours, with Bitcoin closing in on $10,000.

Why the Libra Exodus Might be Good for the Project

  • With organizations withdrawing in droves, thoughts of Libra's downfall naturally come to mind.
  • However, with the seeming invulnerability of the project now shattered, policymakers might take a more objective approach towards the venture.

Can Cryptocurrency Replace Central Banks?

  • The topic of a central bank digital currency (CBDC) is slowly becoming one of the hottest financial debates.
  • Cryptocurrency often comes up as a potential solution for CBDC, some even arguing that it will eventually replace central banks as a whole.

How the U.S.-China Trade War is Affecting the Crypto Market

  • China is making more out of their trade relationship with the U.S. and Donald Trump doesn't like that.
  • While not directly influenced, the crypto market is still part of the economic machine and is reacting to the uncertainty of this grand bout.

Global Recession Indicators Send the Crypto Market in Freefall

  • Bitcoin has proclaimed its intended role as a store of value during recessions since its genesis block.
  • Still, the news about an incoming recession saw the coin react like it is part of the "high-risk gambling vehicle" asset class, in stark contrast to established stores of value.

ZCash Makes History with First “Friendly” Network Split

  • The new coin named Ycash is already live.
  • It has a lowered Founders Reward and will soon be mineable with commodity hardware.

Could 2019 be a Repeat of 2017?

  • 2017 was the year when cryptocurrencies became a part of mainstream finance.
  • 2019 could be a repeat of 2017's explosive performance and key markers point that way.

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In Other News

Building of the Bank of Russia. Financial Times

Russia Considering Ban on Crypto as Means of Payment

  • The Bank of Russia, the country's central bank, said it will support a ban on crypto as a means of payment.
  • Currently, cryptocurrencies are often used to purchase goods and services in the country, as well as a way to pay salaries to some freelancers.

CipherTrace: Crypto Crime Losses up to $4.4 Billion

  • Two huge crypto crimes accumulated more than $3 billion in losses for users.
  • Attempts of fraud constitute the bigger percentage of crypto-related crimes, leaving the pure acts of thefts second.

ArcBlock’s ABT Wallet 2.0 Released, Pushes for Decentralized Identity Standards

  • ArcBlock integrates decentralized identity deeply within their blockchain network.
  • User feedback was used in the panning of ABT Wallet 2.0, which provides improved user experience.

Coinbase Patents System that Identifies Non-Compliant Accounts

  • Coinbase's system will use a variety of factors to determine if an account fails the compliance standards or not.
  • The system will self update its compliance model from the data that it collects, as well as suspended and report "bad" accounts.

Klaytn Pushes for Mass Adoption of Blockchain in Asia

  • Klaytn’s Governance Council includes huge Korean conglomerates such as Hanwha, Sk and GS.
  • The Council gathering also saw the revealing of Klaytn’s digital wallet Klip, which will be embedded into the popular KakaoTalk messenger.

Indian Government to Issue National Strategy on Blockchain Adoption

  • The Indian government has finally recognized the potential of blockchain technology.
  • The country's minister of state for electronics and IT said that blockchain has potential in sectors such as governance, banking, finance and cybersecurity.

Stablecoins Explained in Simple Terms

  • Stablecoins aim to solve the problem of extreme crypto market volatility by pegging digital assets to more stable assets.
  • All of the different types of stablecoins aim for stability, but they achieve it in very different ways.

Swiss Government Calls for Improved Blockchain Regulatory Framework

  • The Swiss Federal Council has adopted a proposal, which focuses on increasing legal certainty and removing barriers for blockchain-based applications.
  • The Council has proposed specific amendments to nine federal acts, which cover both civil and financial market laws.

Upbit Hacked, Loses $50 Million

  • Upbit confirmed that the 342,000 ETH that were transferred from its wallet to an unknown ethereum address was in fact a theft.
  • The exchange said that it will take "at least" two weeks before services are back to normal, and pledged to cover the loss with its own assets.

Exchanges

Swiss Stock Exchange Lists WisdomTree’s Bitcoin ETP

  • Targeted at professional and institutional investors, the new physically-backed Bitcoin ETP will trade under the BTCW ticker symbol.
  • Similarly to gold-backed ETP's, investors in the product will have an entitlement to the cryptocurrency underlying it.

BitBay Drops Monero Over Money Laundering Concerns

  • Estonia-based BitBay will stop all XMR deposits to its platform on 29 November, and will completely delist the coin on 19 February, 2020.
  • Due to an upcoming Monero blockchain fork, withdrawals of XMR will be unavailable between 29 November and 5 December.

Bakkt to Launch Cash-Settled Bitcoin Futures

  • Bakkt's new Bitcoin cash-settled futures contracts will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore.
  • The price of the new contracts will be settled against existing physically delivered bitcoin futures contracts.

Metacoin, World’s First Hyperledger-based Token, to be Listed on Liquid

  • Metacoin wants to implement its node into LinuxONE to solve scalability and security issues in crypto.
  • Liquid and Metacoin will provide up to 3% bonus on deposits of MTC in order to celebrate the listing.

Business

Aeternity announcing the Starfleet program in India at the Genesis DevCon 2019, hosted by IBC Media. Aeternity

India Pushing for Blockchain Development at First Genesis DevCon

  • Speakers at the conference covered a wide range of topics, focusing on blockchain in IoT, AI, and supply chain.
  • At the conference, Aeternity launched their Global Starfleet Accelerator program, while Nucleus Vision launched their Global Identity and Consent blockchain network.
Yuming Yuan, CEO of Huobi Research, talking about new trends and use cases for blockchain tech. Huobi Global

First Chinese State-Sanctioned Global Blockchain Forum Announced by Huobi

  • The forum’s guests of honor come from countries part of the China-found Belt and Road Initiative.
  • As part of the International Cooperation Forum Huobi Global will announce the 'Global Digital Financial Thinktank' and share more information on their ecosystem and initiatives.
Isometric smart city futuristic concept. Freepik

Quant, Constellation Building the Decentralized IoT Future

  • The two companies aim to solve current IoT problems by providing robust access to data and blockchain interoperability.
  • A recent paper titled "An Internet for Automation with IoT and Edge Devices" goes into technical details on exactly how the two companies will cooperate.
Binance CEO Changpeng Zhao speaking at a conference. ELEVENNEWS

Binance Acquires DappReview

  • Binance will provide the platform with support in non-technical fields, such as marketing and business development.
  • DappReview will maintain its independence in areas such as technical development and operations.
The first Klaytn Governance Council Summit took place on Thursday in Nonhyeon-dong, Seoul, South Korea. Lim Jeong-yeo/The Korea Herald

Klaytn Pushes for Mass Adoption of Blockchain in Asia

  • Klaytn’s Governance Council includes huge Korean conglomerates such as Hanwha, Sk and GS.
  • The Council gathering also saw the revealing of Klaytn’s digital wallet Klip, which will be embedded into the popular KakaoTalk messenger.

Politics

Illustration of people in Seoul, South Korea. Culture Trip

South Korean Crypto Exchanges Now Heavily Regulated

  • Crypto exchanges in the country are now required to have real name virtual bank accounts.
  • Violations of the new rules can result in up to 5 years in prison and 50 million Won, roughly $42,000 USD.
Building of the Bank of Russia. Financial Times

Russia Considering Ban on Crypto as Means of Payment

  • The Bank of Russia, the country's central bank, said it will support a ban on crypto as a means of payment.
  • Currently, cryptocurrencies are often used to purchase goods and services in the country, as well as a way to pay salaries to some freelancers.

Indian Government to Issue National Strategy on Blockchain Adoption

  • The Indian government has finally recognized the potential of blockchain technology.
  • The country's minister of state for electronics and IT said that blockchain has potential in sectors such as governance, banking, finance and cybersecurity.
Safdarjung's tomb in New Delhi, India. Been Around The Globe

  • The Indian government has finally recognized the potential of blockchain technology.
  • The country's minister of state for electronics and IT said that blockchain has potential in sectors such as governance, banking, finance and cybersecurity.

Swiss Government Calls for Improved Blockchain Regulatory Framework

  • The Swiss Federal Council has adopted a proposal, which focuses on increasing legal certainty and removing barriers for blockchain-based applications.
  • The Council has proposed specific amendments to nine federal acts, which cover both civil and financial market laws.
Spiez castle with cruise ships in lake, Thun in Bern, Switzerland. Freepik

  • The Swiss Federal Council has adopted a proposal, which focuses on increasing legal certainty and removing barriers for blockchain-based applications.
  • The Council has proposed specific amendments to nine federal acts, which cover both civil and financial market laws.

Technology

Illustration of doctor diagnosing patient. Freepik

New in Healthcare: Aletheia Auditing API

  • The new tool is provided by SimplyVital Health, a company focused on building trusted value-based care networks.
  • Aletheia uses smart contracts to store cryptographic hashes and metadata on public blockchain such as Ethereum and Nexus.
Large data center. The Startup

ILCoin Announce 5GB Blocks, Launch of RIFT Protocol

  • The new RIFT protocol also supports a little over 23 million transactions per block, considering 3-minute block generation time.
  • The protocol rethinks the networking structure and introduces a second level of 'mini-blocks'.
Hand drawn social media and blogging icons. Freepik

Steemit Releases Token Launching Protocol

  • The new Smart Media Tokens will allow users to build their own cryptocurrency on top of the Steemit blockchain.
  • The custom tokens will benefit from all features of the Steemit ecosystem, including three second block times and the 'proof-of-brain' algorithm.

Read More

NEWS

Technology

Illustration of doctor diagnosing patient. Freepik

New in Healthcare: Aletheia Auditing API

  • The new tool is provided by SimplyVital Health, a company focused on building trusted value-based care networks.
  • Aletheia uses smart contracts to store cryptographic hashes and metadata on public blockchain such as Ethereum and Nexus.

ILCoin Announce 5GB Blocks, Launch of RIFT Protocol

  • The new RIFT protocol also supports a little over 23 million transactions per block, considering 3-minute block generation time.
  • The protocol rethinks the networking structure and introduces a second level of 'mini-blocks'.

Steemit Releases Token Launching Protocol

  • The new Smart Media Tokens will allow users to build their own cryptocurrency on top of the Steemit blockchain.
  • The custom tokens will benefit from all features of the Steemit ecosystem, including three second block times and the 'proof-of-brain' algorithm.

Exchanges

The Six Swiss Exchange AG in Zurich. Michele Limina/Bloomberg

Swiss Stock Exchange Lists WisdomTree’s Bitcoin ETP

  • Targeted at professional and institutional investors, the new physically-backed Bitcoin ETP will trade under the BTCW ticker symbol.
  • Similarly to gold-backed ETP's, investors in the product will have an entitlement to the cryptocurrency underlying it.

BitBay Drops Monero Over Money Laundering Concerns

  • Estonia-based BitBay will stop all XMR deposits to its platform on 29 November, and will completely delist the coin on 19 February, 2020.
  • Due to an upcoming Monero blockchain fork, withdrawals of XMR will be unavailable between 29 November and 5 December.

Bakkt to Launch Cash-Settled Bitcoin Futures

  • Bakkt's new Bitcoin cash-settled futures contracts will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore.
  • The price of the new contracts will be settled against existing physically delivered bitcoin futures contracts.

Bitcoin

Bitcoin coins on a pink background. Freepik

6-Figure Influential Bitcoin Trader Forecasts a Continued BTC Price Slump

  • Zoran Kole, a highly respected crypto trader, states that the bottom of the pit is yet to be seen.
  • The effects of Bakkt's launch on the digital assets market are yet to match the hype that was mounting during the project's development.

Researchers Describe Bitcoin Attack That Could Halt Lightning Payments

  • According to the paper by Schmid, Tochner and Zohar, a DoS attack might be carried out easily once the network is used heavily.
  • Of course, this attack is still conceptual and by the time it is achievable there should be a way to stop it.

Can the Next Bitcoin Halving Push Small-Scale Miners Out of Business?

  • The uptrends during the previous two halvings do not guarantee that the same thing will happen again.
  • After rewards get reduced, the popular mining machines of today would not be able to turn a profit for their operators.

Ethereum

View of Istanbul, Turkey. Angus McComiskey

Testnet Split Caused by Ethereum’s Istanbul Early Arrival

  • The update came in 2 days earlier, causing a split of the Ropsten testnet.
  • There shouldn't be any problems when the update is activated on the main Ethereum network, Hudson Jameson, community manager of the Ethereum Foundation, explained.

Ethereum Foundation’s Director Will Now Help Businesses Use Public Blockchain

  • Aya Miyaguchi made a statement where she noted that EEA wants to impact the industry.
  • Joseph Lubin commented on the attention by businesses to the Ethereum network.

Tim Draper Worried about Ethereum’s Economics

  • Tim Draper is not a fan of the 2%-4% ETH issuance rate.
  • Despite Draper's love for smart contracts he sees flaws in Ethereum's economics and history of centralisation.

Ripple

Ripple CEO Brad Garlinghouse at a TechCrunch conference on September 5, 2018. Steve Jennings/Getty Images for TechCrunch

Elliptic Finds Only $400 Million in XRP Transactions Are Illicit

  • Illicit activity includes a variety of Ponzi schemes and darknet activities, but only represents 0.2% of all transactions.
  • Elliptic started analyzing XRP transactions over a year ago and identified several hundred accounts with illegal activity.

Bank of America Discretely Pilots Ripple Service

  • A presentation that was led by Ripple upper management clearly shows Bank of America’s involvement.
  • While Bank of America’s management were skeptical back in the day, it now seems that they are preparing to enter the DLT industry.

Ripple’s Xpring Acquires Logos Network to Build XRP DeFi Products

  • Ripple is continuing to work on expanding the ecosystem around XRP.
  • The acquisition is focused on the mutual development of decentralized financial products.

Litecoin

Rewards for Miners Have Been Halved on Litecoin’s Network

  • Today the Litecoin network reached block height of 1,680,000, which reduced its miners block rewards by a half, from 25 LTC per block to 12.5 LTC.
  • Even though the increased scarcity could push the price of the token up, it could also have an effect on the interest of Litecoin mining.

Litecoin Outshines Rivals in Advance of August Reward Halving

  • Litecoin has seen fantastic progress in both pricing and non-price metrics in 2019.
  • This superb performance could be connected to the mining reward halving that will happen on August 6.

Litecoin ranked ‘Excellent’ in Adoption and Investment Return

  • Litecoin ranked highly by the respected Weiss Ratings.
  • The Litecoin Foundation has valuable partnerships and new goals ahead.

Bitcoin Cash

Bitcoin.com Announces A New Fiat Gateway and a Leadership Change

  • Stefan Rust will replace Roger Ver as CEO of Bitcoin.com, while Ver will serve as an executive chairman.
  • Bitcoin.com's new exchange will use Bitcoin Cash as a base currency and will serve as a fiat gateway.

Bitcoin Cash Fundraising Goal Doubled after Successful Campaign Start

  • The funding goal is now 1600 BCH.
  • Bitcoin Verde and Flowee the Hub have been added to the beneficiaries list.

Bitcoin Cash Close to Reaching Development Fundraising Goal

  • 761.85 BCH have already been raised for Bitcoin Cash development.
  • For the time being it looks like Bitcoin Cash development doesn't need large corporate investment, DAO-s or other forms of funding.

Stablecoins

Gold bars concept. Freepik

Paxos Expands its Gold-Backed Token’s Ecosystem

  • The new partnership with Alpha Bullion allows PAXG token holders to redeem in small sizes of gold.
  • The gold-backed token is now available for trade against the USD, EUR, BTC and ETH on the Kraken exchange.

Draft Bill Claims Stablecoins Are Securities

  • The "Stablecoins are Securities Act of 2019" aims to put all stablecoins under the regulatory supervision of the SEC.
  • Facebook's Libra seems to be at the core of this new bill as fears of its imminent launch in 2020 grip policymakers.

Fractional-Reserve Stablecoin to be Released by Former Fed Nominee

  • Stephen Moore plans to release a stablecoin, Frax (FRX), with its value fixed to the dollar, but not backed 1:1 by it.
  • The "algorithmic, fractional-reserve stablecoin" will use on-chain lending to create interest cash flow, which will maintain the price of FRX.

Tokens

Stellar Burns $4.7 Billion Worth of XLM

  • Out of the 105 billion XLM tokens that were in existence, the Stellar Development Foundation decided to destroy 55 billion of its own tokens.
  • The tokens came mainly from the organization's giveaway and partnership programs, which have now been ended.

Stellar to Airdrop 2 Billion XLM

  • Stellar Development Foundation CEO explained that Keybase is an important part of their adoption strategy and advocate their vision.
  • All the big messaging apps and Keybase competitors are soon to enter the cryptocurrency game but with a different approach.

Telegram to Release its Token by October

  • The first batch of the Gram cryptocurrency is expected by October of this year.
  • The code needed to run a TON node is to become publicly available on 1 September.

Business

Aeternity announcing the Starfleet program in India at the Genesis DevCon 2019, hosted by IBC Media. Aeternity

India Pushing for Blockchain Development at First Genesis DevCon

  • Speakers at the conference covered a wide range of topics, focusing on blockchain in IoT, AI, and supply chain.
  • At the conference, Aeternity launched their Global Starfleet Accelerator program, while Nucleus Vision launched their Global Identity and Consent blockchain network.

First Chinese State-Sanctioned Global Blockchain Forum Announced by Huobi

  • The forum’s guests of honor come from countries part of the China-found Belt and Road Initiative.
  • As part of the International Cooperation Forum Huobi Global will announce the 'Global Digital Financial Thinktank' and share more information on their ecosystem and initiatives.

Quant, Constellation Building the Decentralized IoT Future

  • The two companies aim to solve current IoT problems by providing robust access to data and blockchain interoperability.
  • A recent paper titled "An Internet for Automation with IoT and Edge Devices" goes into technical details on exactly how the two companies will cooperate.

Legal

Coinbase CEO Brian Armstrong at Vanity Fair's New Establishment Summit, talking about the future of crypto and Facebook's Libra. Vanity Fair

Coinbase Patents System that Identifies Non-Compliant Accounts

  • Coinbase's system will use a variety of factors to determine if an account fails the compliance standards or not.
  • The system will self update its compliance model from the data that it collects, as well as suspended and report "bad" accounts.

OneCoin’s Lawyer Found Guilty of Money Laundering, Faces 50 Years

  • Mark Scott allegedly got paid $50 million to help Ruja Ignatova launder $400 million.
  • He reportedly used a network of fake companies, offshore bank accounts and fraudulent investment schemes to launder the ill-gotten funds.

Gold-Backed Karatbars Ecosystem Under Regulatory Pressure

  • Karatbars CEO denied all accusations, stating that they are made based on a scam website that has nothing to do with the company.
  • Karabats has other warnings coming from Florida, Namibia and Netherlands.

Politics

Illustration of people in Seoul, South Korea. Culture Trip

South Korean Crypto Exchanges Now Heavily Regulated

  • Crypto exchanges in the country are now required to have real name virtual bank accounts.
  • Violations of the new rules can result in up to 5 years in prison and 50 million Won, roughly $42,000 USD.

Russia Considering Ban on Crypto as Means of Payment

  • The Bank of Russia, the country's central bank, said it will support a ban on crypto as a means of payment.
  • Currently, cryptocurrencies are often used to purchase goods and services in the country, as well as a way to pay salaries to some freelancers.

Indian Government to Issue National Strategy on Blockchain Adoption

  • The Indian government has finally recognized the potential of blockchain technology.
  • The country's minister of state for electronics and IT said that blockchain has potential in sectors such as governance, banking, finance and cybersecurity.

Fraud

Man with suitcase full of money. Freepik

CipherTrace: Crypto Crime Losses up to $4.4 Billion

  • Two huge crypto crimes accumulated more than $3 billion in losses for users.
  • Attempts of fraud constitute the bigger percentage of crypto-related crimes, leaving the pure acts of thefts second.

Upbit Hacked, Loses $50 Million

  • Upbit confirmed that the 342,000 ETH that were transferred from its wallet to an unknown ethereum address was in fact a theft.
  • The exchange said that it will take "at least" two weeks before services are back to normal, and pledged to cover the loss with its own assets.

U.N. Alleges North Korea Laundered Cryptocurrency to Evade Sanctions

  • The discovery was made when the U.N. conducted an investigation into the ways North Korea evades sanctions.
  • The scheme used over 5,000 transactions in multiple countries to make the laundering "difficult to track".

INDUSTRY