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A recently published report from former CFTC chairman Timothy Massad has called for better regulations on crypto assets. A recent report published for the Brookings Institution is calling for enhanced regulations on cryptocurrencies. The report was authored by Harvard University fellow Timothy Massad, who served as chairman of the United States Commodity Futures Trading Commission (CFTC) during the administration of Pres. Barack Obama. The report dubbed “It’s time to strengthen the regulation of crypto-assets” addresses the purported need for better regulation on digital currencies, the illicit use of cryptocurrencies, as well as measures for reducing the risk of cyber attacks. The report also provides direct recommendations of how to improve existing cryptocurrency regulations. Per the report, there is a gap in the regulation of crypto assets that contributes to fraud and weak investor protection, which is partly represented by the fact that traditional standards required for secur..
Cryptocurrency fund manager Stefanos Papanastasiou is about to be brought to court by his clients over alleged losses. The founder of what reportedly claims to be Australia’s first online mattress retailer OzMattress and cryptocurrency fund manager Stefanos Papanastasiou is about to be brought to court by his clients over the loss of over AUD$20 million ($14.2 million). Daily Australian newspaper The Age reported about the controversy on March 19. Per the report, Papanastasiou told his clients in 2017 that he had spent half a million Australian dollars ($355,000) to develop an algorithm that delivers substantial returns through the trading of Bitcoin (BTC) and Ethereum (ETH)-based tokens. According to the claim filed by property developer Savvas Alexiadis, one of his clients, Papanastasiou owes him more than AUD$2.7 million (nearly $2 million). The documents filed with the Supreme Court of Victoria state that Alexiadis transferred over AUD$2.1 million (nearly $1.5 million) into a Papa..
Coinbase announced that support for Stellar Lumens (XLM) has been added to its services, including iOS and Android apps. United States-based cryptocurrency exchange and wallet service provider Coinbase has added support for Stellar Lumens, according to an announcement published on March 18. The update states that users can now store, buy, and send Stellar’s cryptocurrency, the Stellar Lumen (XLM), on the Coinbase website, as well as on the Coinbase iOS and Android apps. The publication underlines that the newly added cryptocurrency will be available for the majority of the customers, with the exception of Coinbase users in the United Kingdom or in the U.S. state of New York. Last week, the company’s professional trading platform, Coinbase Pro, announced the start of accepting XLM deposits. As Cointelegraph reported on March 17 in a market analysis, the price of the Stellar’s cryptocurrency XLM has risen sharply, making XLM the best performing major cryptocurrency of the past week. Yes..
The US SEC is soliciting industry input as it potentially reconsiders existing custody rules for investment advisers regarding crypto. The United States Securities and Exchange Commission (SEC) is soliciting industry input as it potentially reconsiders existing custody rules in specific cases of digital asset trading and settlement. The SEC launched its information gathering initiative in an open letter to Karen Barr, president and CEO of the Investment Adviser Association, on March 12. Currently, the Custody Rule (Rule 206(4)-2) of the Investment Advisers Act of 1940 determines rules that aim to protect investors who delegate custody of their funds or securities to professional investment advisors. As the letter outlines, such custodial authority carries an ”increased risk of misappropriation or misuse of [investors’] assets,” and investment advisors are thus legally bound to register with the SEC and to comply with a series of rules for sound custodial practices. The SEC states that..
Major South Korean cryptocurrency exchange Bithumb is reportedly slashing up to 50 percent of its workforce. Major South Korean cryptocurrency exchange Bithumb is reportedly cutting up to 50 percent of its workforce, a report from CoinDesk Korea stated on March 18. According to the report, an unnamed official has confirmed that the exchange will reduce its staff from 310 (at the start of March) to around 150, and is offering a voluntary redundancy plan and training support to employees: “Voluntary retirement is part of our support program for former employees and is intended to provide assistance and training for job placement. Apart from that, [Bithumb’s] trading volume has decreased compared to the previous year, [so] we are trying to provide internal measures. We will continue to add necessary personnel for various new businesses.” To press time, Bithumb has not responded to Cointelegraph’s request for comment. Amid the crypto winter, Bithumb’s reported move to reduce its head coun..
The crypto elite are hiring bodyguards, but that may change once the industry becomes more legitimate. Security is paramount in crypto. “Keep your hardware wallets safe,” we're told. “Keep your private keys safe.” “Keep your seed words safe.” “Keep your computer safe.” This list could go on almost indefinitely, and while you might be forgiven for assuming that it contained only objects of an electronic or cryptographic constitution, you'd be wrong. Because one of the most important links in this chain of security is your own self. Yes, what good is a securely held private key if thieves force you at gunpoint to tell them what this key is? This might seem like an improbable risk for anyone with only modest savings in crypto, but for anyone with hundreds of thousands or even millions of dollars worth of Bitcoin in their wallets, it's all too real. The kidnappings of Pavel Lerner and Skycoin's “Synth” underline this point forcefully, so it's no wonder that an inc..
Overstock.com will seemingly delay the sale of its retail wing, the profits of which it can purportedly use to support its crypto and blockchain portfolio companies. The CEO of retail giant Overstock.com, Patrick Byrne, noted the potential profitability of the firm’s retail arm in its Q4 2018 earnings conference call on March 18. Byrne’s statements indicate that Overstock may not be divesting from its retail wing as soon as was previously indicated. Last year, Byrne reportedly told The Wall Street Journal that Overstock would sell off its retail wing sometime in early 2019. During the section of the conference call devoted to retail, Byrne said that “this is going to be a year of explosive growth,” and that the retail wing would “spit out cash.” The CEO predicted that the firm was going to “do $115 million dollars better than last year.” Of that $115 million dollar amount, Byrne says that $33 million will come from improvements in expense management and retail tech, while $82 million ..
CoinMarketCap has added a new rating system providing insight into the growth and development of a cryptocurrency project. Cryptocurrency market data platform CoinMarketCap has added a new metric to their site for measuring the fundamentals of cryptocurrency projects. The new rating system dubbed the Fundamental Crypto Asset Score (FCAS) measures cryptocurrency projects “health” by considering user activity, developer behavior, and market maturity. Basically, the service provides insight into the growth and development of a project: “We intake raw blockchain data across relevant projects and parse them internally. Once we clean, analyze, and recreate the raw data elements, we combine them with market data gathered from various sources to inform our models.” User activity takes into consideration all customer behaviour for a specific cryptocurrency and comprises project utilization and network activity factors. The score is calculated by analyzing activity within a particular blockchai..
U.S. payment services giant Visa is looking to hire a person who will manage strategy for crypto-related opportunities. American payment services firm Visa has published a crypto and blockchain-related job opening on San Francisco-based recruiting software firm SmartRecruiters on March 6. Global financial services corporation Visa is seeking blockchain talent for the position of Technical Product Manager at Visa Fintech in their Palo Alto office. The person will be responsible for the execution of Visa’s product strategy within a cryptocurrency ecosystem, and will be required to manage the roadmap for crypto-related opportunities. According to the job description, the person should be possess a functional knowledge of the crypto industry and major players involved, as well as in-depth knowledge of distributed ledger technology and a deep understanding of existing retail payment solutions. Familiarity with advanced cryptography will be preferred, the job description notes. The indiv..
In the cryptocurrency market, a downward price correction is normal when the coins are preparing for a Bitcoin bull run. Four days ago, Bitcoin crossed the $4,000. Since then, the price has corrected downward up to three times. In today’s cryptocurrency market update, Bitcoin and other top cryptocurrencies once again attempting a downward correction against the USD. Bitcoin (BTC) Price Today – BTC / USD Name Price24H (%)$3,980.33 -0.02% Bitcoin (BTC) Price Today: Will The Bitcoin Bull Run Come? Ever since the best Bitcoin bull run recorded in history (the 2017/2018 bull rally), the cryptocurrency market has been waiting eagerly for a similar event. Unfortunately, the greatest Bitcoin bull run was followed by a 15-month long cryptocurrency winter that cost BTC more than 80% of its value from its all-time high. This is why every minor rally counts. The latest Bitcoin rally isn’t as good as the 2017/2018 rally but it was significant because it took the price of BTC higher than the key ..