Month: September 2017

Nearly one out of every six people on the planet is an Indian. Indians dominate the world in demographics, but of late the country is also known as an Information Technology (IT) hub. According to IBEF, the Indian IT Business Process Management (BPM) sector is estimated to grow at a CAGR of 9.5 percent to nearly $300 bln in 2020. In all likelihood, India will continue to be a significant player in the IT space. Financial technology would be a Read more …

Now, imagine if there was evidence Osama bin Laden had used bitcoin to finance the 9/11 attacks and that information came out in the first few days and weeks after those attacks. Remember the sense of urgency and even legal carelessness that characterized the drafting and bipartisan passing of the Patriot Act after 9/11? How would the U.S. and other nations rein in bitcoin exactly? And who would do it? The simple answer is for the government to make sure Read more …

Fintech Tzero, a majority-owned subsidiary of Overstock, is launching an ICO trading platform that is fully compliant with the regulations of the United States Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority, Inc. (FINTRA), according to the company. The platform comprises an Alternative Trading System (ATS), meaning that it will not be subject to exchange regulations. Also Read: Internet Archive and Overstock to ‘Hodl’ More Bitcoin Revenue and Donations Tzero’s ICO Trading Platform Will Legally Read more …

Royal Bank of Canada (RBC), the largest bank in the country, is trialling blockchain technology for fund transfers to and from the U.S. Built using open-source tech from the Hyperledger consortium, the new system was deployed about a week ago as an underlying layer to RBC’s existing payments system. Martin Wildberger, RBC’s executive vice president, told Reuters that what he called the “shadow ledger” allows the bank to monitor payments in real time as they pass between U.S. and Canadian Read more …

The massive gains in the GBTC (Grayscale Bitcoin Investment Trust) share value this year (508 percent) are not enough to get it through approval with the Security and Exchange Commission (SEC) for trade on the New York Stock Exchange’s Arca exchange. While regulations are fast moving toward Bitcoin acceptance, the current SEC climate is not ready. According to the fund managers: “Although digital currency market regulation continues to rapidly evolve, at this time Grayscale does not believe there have been enough regulatory Read more …

Throughout the weekend and continuing into the early week, BTC-USD saw a strong rally that brought the price from $3500s to prices in the high $4100s, at the time of writing. Amid global turmoil and Chinese news that initially appeared to be bearish, BTC-USD has seemingly found its bottom and is now working its way onward and upward. Here is a look at the current state of the market and what we can expect in the coming days: Figure 1: Read more …

Japan’s burgeoning Bitcoin exchange scene will face constant surveillance from authorities when new legislation becomes effective Oct. 1. In accordance with laws legalizing Bitcoin in April, Japanese exchanges must register with the country’s Financial Services Authority (FSA) by the end of September. Licensing new exchanges has picked up pace since news of the law surfaced, with over 50 licensees going through the pipeline, and 18 in the first month alone. Now, however, authorities have reiterated the need for a controlled Read more …

The Australian Securities and Investments Commission (ASIC) has issued regulatory guidance for businesses considering launching an initial coin offering (ICO). According to a document on the regulator’s website, the legal treatment of cryptographic tokens issued in ICOs will vary in nature depending on their structure. While some token sales will be classified under general Australian consumer law, ICOs offering financial products will be regulated under the country’s Corporations Act. In the latter case, the law will carry some protections for investors, Read more …

Cryptocurrency exchanges are always competing with one another for trading volume. Appealing to as many consumers and enthusiasts around the world is a big priority. That is much easier said than done these days, though. One way to go about things is by adding additional cryptocurrencies over time. South Korea’s Bithumb will do exactly that by enabling ZCash trading soon. An interesting development that may yield positive results for ZEC holders. Bithumb is one of, if not the largest cryptocurrency Read more …

The privacy-focused cryptocurrency zcash has had a wild 24 hours. At press time, the zcash-US dollar (ZEC/USD) exchange rate had reached a high of $410, its highest level since June, only to fall back to $290 levels, the volatile day driven by reports the coin could be listed on South Korea’s exchanges. Indeed, the inciting news here appears to be news about the forthcoming addition of the cryptocurrency to Bithumb, one of the country’s largest trading platforms. Stepping back, the Read more …