Cryptocurrency Daily News Bulletin: September 17, 2018

September 17, 2018 2:15 pm Published by

General News

Binance will soon start private beta testing a crypto-fiat exchange in Singapore, as Binance co-founder and CEO Changpeng Zhao tweeted over the weekend. 

Coinbase has aggressive growth plans for its newly opened New York office, which caters to institutional clients. The digital asset exchange plans to expand the operation to 150 employees next year, from 20 currently. They claim that the slump in cryptocurrency prices this year has not quelled institutional demand for this asset class. 

Samsung SDS have entered an agreement with the Korea Customs Service (KCS) to implement their blockchain technology for an export customs clearance system. Samsung will develop the world’s first blockchain-based export customs logistics service for the KCS to enable efficiency and curb fraud in the industry.  

The World Economic Forum (WEF) foundation has outlined more than 65 blockchain use cases for solving the “most pressing” environmental challenges, in a report published last week. 

China have recently banned the mainland from crypto usage, however, companies are finding ways to circumvent the crackdown.  InVault launched last week and offer a decentralized corporate cryptocurrency wallet service, meaning that there would not be a central control over the safeguarded funds. InVault will instead be the custodian of users’ private keys. InVault is just the latest startup in China’s growing custody sector.

France’s Minister for the Economy and Finance has announced that the government has accepted an article of the Business Growth and Transformation bill (PACTE) dedicated to ICOs. The French stock markets regulator Autorité des marchés financiers (AMF) is now empowered to give licenses to companies that want to raise funds via an ICO, with the legislation aiming to help protect contributors’ interests, as well as attract global investors. 

 Zimbabwe’s newly minted Minister of Finance, Mthuli Ncube, claims that cryptocurrencies could assist the country to solve the cash crunch that has been ongoing for the last two years. Ncube has promised to nudge the Reserve Bank of Zimbabwe (RBZ) to establish a crypto division that will assist the apex bank to understanding digital assets better. 

Cryptocurrencies

Ethereum’s most popular wallet MyEtherWallet (MEW) has recorded more attempted attacks by hackers than Fortune 500 banks, according to leading cybersecurity firm Segasec. Since the beginning of its task of protecting the MEW platform, it has taken down 313 active attacks, with an average of 30 to 40 per week, and these numbers are growing daily. Meanwhile, Ethereum’s upcoming hard fork, Constantinople, will activate in a testing environment next month, core developers agreed on Friday. The upgrade features changes designed to increase the platform’s efficiency, alter its economic policy and delay the so-called “difficulty bomb,” a piece of code meant to encourage the network to alter its core consensus algorithm. This follows last weeks pullback in ETH, where it reached a 24-hour trading volume of 850,000 ETH – the highest level since Sept. 15, 2017. 

Litecoin will soon be listed on Gemini exchange. Gemini claim to be just waiting on regulatory approval. 

Ripple are looking to launch Money Tap between September and December. MoneyTap is the first real noteworthy application of Ripple’s blockchain tech for consumer-ended retail payments in Japan, enabling domestic bank customers to transact instantly 24 hours a day and seven days a week using a QR code, a phone number or a bank account number. However, there is no indication of the use of XRP. 

Tezos, the eighth largest ICO in history, is launching its mainnet today. Ahead of its mainnet launch, the price of XTZ surged by more than 50 percent in one week, with a pullback to be expected.

Tether: A top 20 exchange, Singapore-based Digifinex, has decided to replace tether (USDT), perhaps the best-known “stablecoin”, with a new rival stablecoin, TrustToken’s TrueUSD. Kiana Shek, Digifinex’s co-founder, claims she’d been “looking for ways to get rid of USDT” for months, adding, “I simply don’t believe in tether but I had no choice” but to list it. 

WN.com, Izaan Khan



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