Stellar (XLM) the Latest Cryptocurrency Added to Grayscale

Grayscale, a cryptocurrency investment group, has just announced that it has launched its latest fund. This new fund is dedicated specifically to Stellar (XLM). 1/ We are excited to announce two big developments! First, today marks the launch of Grayscale Stellar Lumens Trust! Investors can now gain exposure to the price movement of XLM through a traditional investment vehicle. For more info go to https://t.co/izJooCsKwS — Grayscale (@GrayscaleInvest) January 17, 2019 Grayscale Adds Stellar (XLM) Grayscale is a digital asset management firm that operates under the Digital Currency Group umbrella. Before…

South Korea Government Approves Seven out of 21 Cryptocurrency Exchanges’ Security Policy

Some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could be exposed to attacks, local tech news outlet ZDNet reported on Jan 10. Bithumb, Coinone and Korbit, in addition to four other major exchanges, satisfied investigators during the audit, which took place between September and December 2018. Of the tranche of 21 platforms involved, however, the remaining 14 failed to meet the criteria for suitable security procedures. South Korea previously had one of the world’s most active cryptocurrency trading economies before regulatory upheaval…

Japanese Regulators Grant Cryptocurrency Exchange License to Coincheck

Japan’s finance regulator, the Financial Services Agency (FSA), has granted full permission for cryptocurrency exchange Coincheck to continue operating in the country. Cointelegraph Japan reported on the development on Jan. 11, quoting an official communique. Coincheck, which was hacked in January 2018, losing altcoin tokens worth $530 million at the time, now joins the slowly increasing number of officially sanctioned exchanges serving the Japanese market. The step is a milestone for the exchange and for online broker Monex Group, which bought Coincheck for a nominal $33.5 million in April. According…

The First Cryptocurrency to Use Mimblewimble Privacy Tech Is Now Live

Today marks the debut of a new cryptocurrency, called Beam – one of two highly-anticipated privacy coins implemented with the so-called “mimblewimble” protocol. The mimblewimble protocol, which is touted as a way to make transactions confidential and virtually untraceable, first appeared in the summer of 2016, and has been widely anticipated ever since. While another cryptocurrency, called Grin, was first theorized for the protocol at the end of 2016, Beam, which was conceived of only in March 2018, launched ahead of Grin, today at 1:40 UTC. Yet Grin developers have…

E-Commerce Giant DMM Quits Cryptocurrency Mining Business

Japanese e-commerce giant DMM.com is reportedly in the process of withdrawing its cryptocurrency mining business in the country, just months after it set up the operation in early 2018. A news report from Nikkei on Dec. 30 said DMM made the decision on the withdrawal in September 2018 as the overall cryptocurrency market slump led to deteriorating profitability for its mining business. The report added the withdrawal process, including the sale of its mining machines, could continue until the first half of 2019. Founded in 1999, DMM is one of the largest…

US Lawmakers Introduce Bill to Impose Sanctions on Iranian National Cryptocurrency

United States lawmakers have introduced a bill to levy further sanctions on Iranian financial institutions and the development and use of the national digital currency. HR 7321 was introduced in the House of Representatives by Rep. Mike Gallagher on Dec. 17. In a bid to combat money laundering and terrorism-related activities, the “Blocking Iran Illicit Finance Act” calls for sanctions on the Iranian financial sector and on the development and use of the national cryptocurrency. The act specifically prohibits transactions, financing or other dealings related to an Iranian digital currency,…

Facebook Cryptocurrency | Is the Tech Giant Developing a Stablecoin?

Facebook (NASDAQ:FB) is reportedly developing a cryptocurrency that will let users send money via its WhatsApp messaging app. The new cryptocurrency would launch first in India—a country with over 200 million Whatsapp users and the world’s leader in sending money home. Facebook Cryptocurrency According to Bloomberg, the company is creating a stablecoin, a digital currency that is pegged to a fiat currency—often the US dollar. These types of cryptocurrencies are supposed to be less volatile than regular cryptos. Though not nearly at a launch stage, sources say that Facebook is…

Facebook is Developing a Cryptocurrency for Transfers in WhatsApp

Facebook is reportedly making a cryptocurrency for users of the messaging service WhatsApp, Bloomberg reports on Dec. 20. The token will purportedly be used for money transfers made within the app, and will focus on the remittances market in India. Citing sources familiar with the matter, Bloomberg states that Facebook is developing a stablecoin. The sources further stated that the coin will not be released anytime soon, as Facebook is still working on a strategy for custody assets i.e. the asset to which the stablecoin will be tied. The Indian…

Powering a cryptocurrency economy for Syrian refugees

Cryptocurrencies provide the easiest and most accessible way to give money directly to those in need. With GiveCrypto.org’s innovative approach, recipients can actually turn around and use crypto to buy what they need — immediately, without fees and delays. That’s why we’re using Day 6 of the 12 Days of Coinbase to support their new project that provides a basic income to more than 150 Syrian refugees in Greece. Our $10,000 gift in Bitcoin ($BTC) allows GiveCrypto.org to significantly expand on a model that has already allowed them and partner Sempo to…

Financial Action Task Force Urges UK to Improve AML Activities in Cryptocurrency Sector

The Financial Action Task Force (FATF), an intergovernmental financial security body, has demanded the United Kingdom step up its cryptocurrency monitoring. According to a new report released Dec. 7, the country needs increased measures to prevent money laundering and combat terrorist financing (CFT). As part of its dedicated “mutual evaluation” on the U.K.’s Anti-Money Laundering (AML) and CFT efforts, the FATF identified the need to give its mechanisms for reporting suspicious activity a “significant overhaul.” In addition, certain sectors of the economy — specifically real estate agents and high value…