Binance to Stop Serving US Traders Following Announcement of US-Dedicated Platform

Major crypto exchange Binance announced on June 14, that it has updated its terms of use, which notably includes a restriction of services to United States-based individual and corporate traders. The restriction follows yesterday’s news that the company is launching a separate, fully regulated fiat-to-crypto platform for the U.S. market. Today’s announcement provides a timeline for the new terms to…

Eos Developer Block.one Working With Lobbying Firm on Blockchain

Eos (EOS) parent company Block.one has disclosed that it is a client of a lobbying firm in a disclosure form registered in May. In the document, Block.one is cited as the client of international law firm Holland & Knight LLP, whose offices globally work on over 200 different practice areas including regulatory and government…

Facebook Hires Standard Chartered Bank’s Head of Public Affairs for Crypto Project

Facebook has reportedly hired Standard Chartered Bank’s head of public affairs Ed Bowles for its cryptocurrency project, the Financial Times reports on June 14. Per the report, Facebook hired the senior bank lobbyist in anticipation of the greater regulatory scrutiny in Europe over its plans to launch its own crypto asset and other financial services to its 2.4 billion users. Bowles will…

Dubai Real Estate Department Signs MoU to Implement Blockchain

The Dubai Land Department (DLD) and telecoms firm Etisalat have signed a memorandum of understanding concerning real estate blockchain technology, United Arab Emirates-based outlet Gulf Today reported on June 10. The DLD works under the Executive Council of Dubai in real estate-related services, while Etisalat is a multinational, Emirati firm that serves 15 countries in the Middle East, Asia and Africa. Both parties have…

Lithuania to Regulate Cryptocurrency Exchange Sector

Lithuania is preparing new rules to govern cryptocurrency transactions, requiring businesses to prove the identity of clients, local daily news outlet Delfi reported on June 12. As part of its obligations to impose European Union anti-money laundering (AML) regulations, Lithuania’s finance ministry will seek to completely formalize crypto-based exchange operations. Parliament approved the move during a sitting…

Chinese Bticoin Miners Stealing Electricity To Power Mining Activity

One of the problems with Bitcoin mining is its halving. Bitcoin’s next halving is expected to take place about a year from now in May 2020. A halving is something that happens after every 210,000 blocks are produced which usually takes about four years. When a halving occurs, block rewards gotten by…

New Cryptocurrency Index To Be Integrated With Reuters, TradingView And Bloomberg

New Cryptocurrency Index To Be Integrated With Reuters, TradingView And Bloomberg There has been a recorded interest from many investors in the cryptocurrency sector especially with the state of the market this year as compared to 2018. The cryptocurrency market in 2019 has recorded significant inflow from individual and institutional investors even from traditional…

Hong Kong Residents Still Prefer Using Cash

Owing to China’s use of extreme surveillance tactics over the years, a lot of the country’s citizens are concerned about their privacy. For example, a couple of years ago, it came to light that the Chinese government was making use of a “real-time identity tracking platform” in order to keep…

Philippines Central Bank (BSP) Puts Out Fresh Warning About the ‘Dangers’ of Crypto Investing

A quick look at some of the data released by BSP’s Technology Risk and Innovation Supervision Department (TRISD) shows us that the total volume of crypto tx’s taking place within the country have more than doubled between 2017 and 2018.($189.18 million to $390.37 million). The BSP is currently making use of a…

Australian Steel Company Creates Blockchain-Based Steel Trading Database ‘STEEL but SMART’

Alukönigstahl, an Australian steel trading firm, is reported to be creating a blockchain-based data system. The CEO of the company Stefan Grull has affirmed to the local media outlet Industriemagazin.at, that the new initiative will be called “STEEL but SMART”. The idea of the project is to target use cases…