Libra Association Seeks Swiss Payments License for Stablecoin

Facebook is seeking a payment system license under Switzerland’s Financial Market Supervisory Authority (FINMA) for its planned Libra stablecoin network. The Libra Association, or which Facebook is a member, is seeking a payment system license under Switzerland’s Financial Market Supervisory Authority (FINMA) for its planned stablecoin project, Reuters reported on Sept. 11.  “Regulated, low-friction, high-security” blockchain payments In an official statement today, the Switzerland-registered Libra Association — a not-for-profit membership organization established to govern the Libra network — Dante Disparte, the Libra Association’s head of policy and communications, said of…

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BNY Mellon to Act as Transfer Agent for Bitwise’s Proposed Bitcoin ETF

Bitwise has chosen BNY Mellon to act as transfer agent and administrator for its proposed Bitcoin exchange-traded fund. Bank of New York Mellon has been appointed to serve as transfer agent and administrator of  Bitwise Asset Management’s proposed Bitcoin (BTC) exchange-traded fund (ETF).  Bitwise amended the S-1 form that it submitted to the United States Securities and Exchange Commission (SEC) on Sept. 11. The amendment also lists major accounting firm Cohen & Company as auditor, while Boston-based legal firm Foreside Fund Services is listed as the Bitcoin ETF’s marketing agent. …

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Coinbase UK Settles Lawsuit With Victim of Email Phishing Attack

The U.K. arm of cryptocurrency exchange Coinbase settled a lawsuit with a man who lost 80 Bitcoins in an email phishing attack. The United Kingdom arm of cryptocurrency exchange Coinbase settled a two-month legal battle with a man who lost 80 Bitcoins (BTC) in an email phishing attack. Stolen Bitcoin diverted to Coinbase On Sept. 10, legal news site Law360 reported that Coinbase U.K. had reached an undisclosed settlement with Liam Robertson to exit a London-launched litigation after hackers stole 80 BTC (worth close to $815,744) in the attack. Robertson…

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The Hype Has Faded But Demand Remains for Enterprise Blockchains

The days when blockchain was portrayed as a cure-all for businesses of all kinds have gone. Now that the hype has faded, enterprise blockchain projects have quietly begun to ship. While some of these initiatives have faded into obscurity, others have prospered, suggesting that there’s life in enterprise blockchain yet. Also read: David Chaum’s Elixxir Invites Smartphone Users to Test Private Messaging After a Shaky Start, Enterprise Blockchain Adoption Ramps Up When IBM and shipping giant Maersk teamed up to create a blockchain solution for supply chains, the two goliaths…

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LocalBitcoins: Tor Browser Users at Risk of Losing Their Bitcoins

Finland-based P2P crypto exchange LocalBitcoins warned users about alleged security risks associated with Tor Browser. Finnish peer-to-peer crypto exchange LocalBitcoins has warned users about alleged security risks associated with anonymous browser Tor Browser. On Sept. 9, transactional compliance expert Richard Bensberg tweeted a screenshot of a LocalBitcoins banner warning Tor users about the risk of losing their Bitcoins (BTC), which stated: “Warning to all Tor users: A Tor browser exposes you to the risk of having your bitcoins stolen.” LocalBitcoins then responded to Bensberg, saying that while using Tor Browser…

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Iranian Crypto Miners Tax Exempt If They Repatriate Offshore Earnings

Cryptocurrency miners in Iran will be eligible for a tax exemption if they agree to repatriate their overseas earnings. Cryptocurrency miners in Iran will be eligible for a tax exemption if they agree to repatriate their overseas earnings, according to Iran’s National Tax Administration (INTA). Per a report by local English-lanuage news daily Financial Tribune, INTA introduced a repatriation tax exemption similar to the one it offers non-oil exporters. INTA considers cryptocurrency mining a taxable business, like any other industrial activity, and as such, believes it should follow the requirements…

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Institutional Cryptocurrency Interest Is Booming, Regulations Need to Catch Up

With institutional interest in crypto assets growing, crypto-specific projects and traditional finance companies alike have been ramping up their institutional offerings to cater to the needs of this specific client base. Though a lot of effort has been put into building secure infrastructure and solutions for financial institutions to enter the cryptocurrency field, unclear regulations remain a significant barrier to institutional adoption. Rising Interest in Institutional Cryptocurrency Investment The past year has been undeniably marked by the entrance of professional traders and institutions into cryptocurrency, driven by the potential for…

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New Research Offers Insight Into Iranian Bitcoiners

Iran has been a mixed environment for Bitcoin lately, with citizens interested in participating in the community, a government hit heavily with economic sanctions and nationally subsidized power that makes it an attractive hub for mining operations.  Research announced by analytics firm Gate Trade on September 11, 2019, offered some more insight into the popularity and economic viability of cryptocurrency activity for bitcoiners in the country. “Out of 1,650 Iranian bitcoiners surveyed in Persian Telegram groups, 25 percent earned $500 to $3,000 a month from working with cryptocurrency, according to…

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Tezos Foundation Issues Batch of Grants to Smart Contract, Explorer Projects

The Tezos Foundation has issued a number of new grants to projects that focus on various aspects of developing the Tezos network. The Tezos Foundation has issued grants to projects submitted in response to its latest request for proposals. Per a Sept. 10 announcement, the foundation has released 14 new grants to projects targeting the advancement of the Tezos project. Recipient projects prioritized developments such as applications built using Tezos smart contracts, Tezos block explorers, tools for smart contract development, Tezos-focused training resources and marketing initiatives that improve awareness of…

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Major South Korean Mobile Carrier Launches Blockchain Project

Union Mobile, the fourth-largest mobile carrier in South Korea, announced the launch of its blockchain project ELYNET. Union Mobile, the fourth-largest mobile carrier in South Korea, announced the launch of its blockchain project called ELYNET. Using blockchain to make communication more efficient  On Sept. 11, Union Mobile announced that ELYNET aims to use blockchain technology to make telecommunications more efficient for those users who rely on a single carrier for telecom service. ELYNET will purportedly allow users to freely use data communication services without roaming fees and contracts. Union Mobile’s…

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