US Congressman Announces Plans for Federal Cryptocurrency and ICO Regulation

U.S. Rep. Warren Davidson (R) has announced plans to introduce legislation that would clearly regulate cryptocurrencies and Initial Coin Offerings (ICOs), local Ohio news agency Cleveland.com reports Dec. 3. According to Cleveland.com, Davidson announced his intention to introduce new legislation at the Blockchain Solutions conference. The bill would create an “asset class” for cryptocurrencies and digital assets, which “would prevent them from being classified as securities, but would also allow the federal government to regulate initial coin offerings more effectively.” This development would bring clarity to U.S. crypto regulation. Currently,…

US Treasury Official Calls on Crypto Industry Players to Combat Illicit Use of Crypto

The U.S. Department of the Treasury Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker urged crypto industry players and regulators to prevent the illicit use of cryptocurrencies in a speech Dec. 3. Speaking at the Financial Crimes Enforcement Conference on Dec. 3, Mandelker addressed the issue of mitigating risks related to emerging technologies, including digital currencies, which could potentially be used for nefarious purposes. Mandelker stressed that financial institutions and cryptocurrency services providers must combat illicit activity and the risks of assisting bad actors. “The digital currency industry must…

Future is Brighter Than Ever for Crypto, Says Roger Ver

The outspoken CEO of Bitcoin.com believes that the future of cryptocurrencies like Bitcoin and Bitcoin Cash is bright, despite the current market sentiment, fearing that the budding financial technology has already met its demise. Roger Ver: Based on Fundamentals, Crypto’s Long-Term Future is Bright Roger Ver is a polarizing character in the cryptocurrency industry. Love him or hate him, though, there’s no denying the early Bitcoin investor has helped bring cryptocurrency into the mainstream and has pushed the envelope for widespread adoption. In his latest comments, the Bitcoin.com CEO gives…

Binance Blockchain | Binance to Launch the Binance Chain

If it wasn’t enough for Binance to be the biggest crypto exchange by trading volume in the world, such is its popularity that it will now launch its own blockchain. Dubbed the ‘Binance Chain’ (give that genius a can of coke), the new blockchain is due to arrive in the “coming months” according to a Tweet today. The Binance Blockchain The Tweet gave a little more detail. It said the following: “Binance is pushing for blockchain adoption and doing many things to help advancement of the industry. E.g. we will have the…

ETH Incubator ConsenSys Gets ‘Lean and Gritty’ in Competitive Market

Major Ethereum (ETH) blockchain startup and incubator ConsenSys plans to streamline and toughen its business style amid an increasingly “crowded” competitive blockchain space. The shift in strategy was reported by online tech journal Breaker on Dec. 3. Breaker cites a letter to staff from ConsenSys CEO and Ethereum co-founder Joseph Lubin, reportedly sent late last Friday night, which outlines a new phase in the Brooklyn-headquartered company’s work. As per the letter, ConsenSys — which employed over 1,100 employees across 29 countries, as of February 2018 — is entering what Lubin…

Global Retail Giant Auchan Expands Blockchain Tracking Solution to Five More Countries

Global retail giant Auchan is expanding TE-FOOD’s blockchain solution to improve the transparency of products’ history, U.S.-based news agency Cision PRWeb reports today, Dec. 4. The French retail group, which is reportedly the 13th largest food retailer globally with operations in 17 countries, has extended TE-FOOD’s FoodChain solution to five more countries. FoodChain is the international traceability information ledger by TE-FOOD, first applied by Auchan in its Vietnam branch. After a 18-month test of TE-FOOD’s blockchain tool in Vietnam, Auchan has now decided to deploy the products’ traceability solution in…

Bitcoin Will ‘Surpass’ All-Time Price Highs by End of 2019, Says Quoine CEO

The CEO of Japanese fintech firm and crypto exchange operator Quoine has said he believes Bitcoin (BTC) will “surpass” its all-time price highs by the end of 2019, during an interview with Bloomberg Markets: Asia Dec. 4. Speaking during the aftermath of an industry-wide price slump, Mike Kayamori said he expects new crypto market sentiment and momentum to set in after the new year, noting that “there’s nothing new, no catalyst” in the immediate future to drive prices back up. The CEO stated that whereas many had called $4,000 as…

Nasdaq’s Bitcoin Futures Will Launch in ‘First Half’ of 2019

The world’s second-largest stock exchange, Nasdaq, has confirmed it plans to launch Bitcoin futures in the first half of 2019, United Kingdom daily tabloid The Express reported Monday, Dec. 3. As reported, two insider sources had already leaked the plans to Bloomberg in late November. Yesterday’s confirmation from Joseph Christinat, vice president of Nasdaq’s media team, clarified the launch remains subject to approval from the United States Commodity Futures Trading Commission (CFTC), although reportedly “there’s been enough work put into this to make [the question of regulatory approval] academic […]…

State Agency Backs Blockchain Accelerator Launched by Venture Capital Firm

Singaporean governmental body Enterprise Singapore, along with other partners, has supported a new blockchain accelerator launched by a local venture capital firm, daily local newspaper The Straits Times writes Tuesday, Dec. 4. Trive Ventures has launched the initiative, dubbed Tribe Accelerator, to support later-stage startups. According to the unnamed investor cited by The Straits Times, the accelerator is designed for a six-month period and will focus on the mass adoption of blockchain, decentralized applications (DApps), and back-end digital solutions that deal with blockchain. The managers for Tribe Accelerator will initially…

Financial Watchdog Warns Two Banks Over Poor Crypto Transaction Management

A South Korean financial authority has warned two major domestic banks about their lack of management of cryptocurrency transactions and Anti-Money Laundering (AML) regulation, local online media outlet The Daily reports Dec. 4. The Financial Supervisory Service (FSS) has reviewed Kookmin Bank and Nonghyup Bank and found “unreasonable elements related to virtual [currency] handling business.” However, the article notes that the regulation standards are not clear, and the FSS’s order applies only to some accounts that have been contracted with a real-name verification service, not crypto counterparty (exchange) accounts. The…