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Malaysia’s finance ministry says domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. Malaysia’s finance ministry says both domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. In its Economic Outlook 2020 report released today, the ministry nonetheless noted that several prominent firms in key economic sectors had taken steps toward digital currency adoption, according to a business news report from Bernarama on Oct. 11. Malaysia’s crypto regulatory landscape to date“Although the impact of these projects has yet to be felt more widely, digital assets may well emerge as a part of the wider economy or recede into the background as a novelty, depending on the outcome of its usage,” the report is quoted as stating. The ministry has urged global authorities to formulate frameworks to tackle the issues raised by di..
South Korean cryptocurrency exchange OKEx has halted trading of Monero, DASH, Zcash, Horizen and Super Bitcoin. Cryptocurrency exchange OKEx announced the end of Monero (XMR), DASH, Zcash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC) trading as of today, Oct. 10. Per the Oct. 2 announcement, the assets have been delisted today. A previous version of the announcement was published on Sept. 10. That being said, since then the support for privacy coins ZEC and DASH has been defined as temporarily suspended due to regulatory concerns. Regulatory concerns over privacy coinsMore precisely, OKEx reports having received a request to end the transaction support and review the compliance with the 'Travel Rules' according to the Financial Action Task Force recommendations. The exchange promised that the final decision concerning the support of DASH and Zcash will be announced at a later date in a separate announcement. Delisting of privacy coins over regulatory concerns is nothing new...
Cryptocurrency wallets MyCrypto and Ambo both announce major updates of their software. Cryptocurrency wallets MyCrypto and Ambo (recently acquired by the former) have both announced major updates of their software. Among other improvements, MyCrypto added a multi-account management system. A major overhaulAccording to a press release shared with Cointelegraph on Oct. 10, MyCrypto’s software has seen a major overhaul with a new user interface and a new homepage, dashboard, screen lock, an updated address book and outgoing transaction procedure. That being said, all those new features are so far included only in the beta (early access) version of the wallet and there is no timeline for when they will go fully live. Ambo’s decentralized exchange integrationFurthermore, Ambo — a cryptocurrency wallet acquired by MyCrypto in January — has also announced a major overhaul of its features. The press release shared with Cointelegraph teases the addition of unspecified “smart features to prote..
Jihan Wu, co-founder of leading ASIC miner producer Bitmain, announced two new series 17 Bitcoin mining machines. Leading Application Specific Integrated Circuit (ASIC) producer Bitmain announced two new series 17 Bitcoin (BTC) mining machines in a blog post published on Oct. 9. Bitmain: higher efficiency and hashrateBitmain co-founder Jihan Wu announced the S17+ and T17+ mining machines at the World Digital Mining Summit (WDMS) in Frankfurt. Bitmain claims that the new ASICs feature improvements to power efficiency and hashrate. The post states that the new hardware is capable of performing tens of trillions of hashes per second (TH/s): “The Antminer S17+ has a hash rate of 73 TH/s and operates with a power efficiency of 40 J/TH + 10%, while the T17+ offers a hash rate of 64 TH/s and a power efficiency of 50 J/TH + 10%.” The announcement also mentions the dual tube heat dissipation technology featured in the new machines and claims that “the space between the air inlet to the air out..
UNICEF launches a cryptocurrency fund to support open source technology benefiting children and young people around the world. UNICEF, the United Nations Children's Fund, has launched a cryptocurrency fund to support open source technology “benefiting children and young people around the world.” According to the official announcement published on Oct. 8, UNICEF thus became the first U.N. organization “to hold and make transactions in cryptocurrency,” namely Bitcoin (BTC) and Ether (ETH). UNICEF executive director Henrietta Fore added: “This is a new and exciting venture for UNICEF. If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work." Ethereum platform can “better countless lives”Per the announcement, the Ethereum Foundation, a Swiss nonprofit org..
An American Congressional candidate and challenger to House Speaker Nancy Pelosi is accepting donations in cryptocurrency. A candidate for the United States House of Representatives in 2020 is accepting cryptocurrency donations to run against Representative and Speaker of the House Nancy Pelosi. Supporting economic freedom with cryptoAgatha Bacelar, a Stanford engineer and designer who served with Emerson Collective and Democracy Earth argues that the existing political establishment wants to hold back a future “where economic freedom is afforded to all,” according to the campaign’s website. The challenger is accepting donations in five cryptocurrencies including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and USD Coin (USDC) through Coinbase, one of the most popular U.S.-based crypto exchanges and wallet services. Bacelar aims to gain the nomination for the Democratic candidate in California’s 12th Congressional district in the primary election on March 3, 2020. So..
One of the biggest consumer adoption hurdles for crypto has been the inability for users to easily use crypto, whether as a means of payment or as currency. Paying in crypto largely depends on the merchant being able to accept the crypto - and with thousands of digital assets to choose from, it can be very difficult to use certain altcoins. As a currency, spending crypto today can have a very different value the next day, and so users can never really predict how much their crypto is worth at any given time. Beneath these two issues is the simple solution of simply exchanging that crypto to cash. But the way exchanges are set up, users have less incentive to do this. Firstly, the long wait to get cash to bank accounts. Secondly, the poor rates of exchange, and high fees. Crypto Credit Cards: the Answer? So when startups started to offer crypto debit cards, it seemed like a brilliant idea. Cards that instantly exchanged crypto in an account for cash to be spent at any participating..
Cointelegraph Brasil presents a weekly digest of selected cryptocurrency- and blockchain-related news. Brazil has seen another tumultuous week in the cryptocurrency industry as the central bank of Brazil wants to use blockchain technology starting in 2020, the president of Unick Forex continues to claim they pay customers on time, and the Brazilian Securities Commission investigates the alleged fraudulent activities of more crypto-related companies. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Brasil. President of Unick Forex says it pays customers on time On Sept. 23, Cointelegraph Brasil reported that president of alleged investment scheme Unick Forex Leidimar Lopes said that the company's payments are up to date, despite the complaints of thousands of investors who claim that the exchange is not honoring their payments. Lopes said: “We are paying thousands of customers every day, everything is still normal, everything i..
Court rules that CoinOne exchange must compensate hacked investor 25 million won. A South Korean court ruled on Sept. 25 that the CoinOne cryptocurrency exchange must reimburse 25 million won ($20,800) to an investor after he was hacked. The attacker used the investor’s personal login and password to steal 45 million won, while a daily withdrawal limit of 20 million won was supposed to be in place. Stolen login detailsThe theft occurred in late December 2018, when the investor’s CoinOne exchange login details were stolen. An attacker, who had hidden their IP address using a VPN in the Netherlands, converted all of the investor's cryptocurrency holdings into Bitcoin (BTC), which was then withdrawn from the exchange. The total value of the cryptocurrencies stolen had been around 47.7 million won in late November 2018. However, there was a 20 million won daily withdrawal limit on the account, which should have prevented the full amount from being taken Safeguards not effective in pr..
TwitterFacebookLinkedIn From 2011 until 2018, Karatbars was concentrated on selling physical gold and gold-based products. Throughout the course of 2018, the company has developed and implemented cryptocurrency blockchain and innovative technologies such as a cryptophone (IMpulse K1 Phone), digital payment system (K-Merchant) and ATMs (CashGold Exchange Machines / CEMs)into the business. To make crypto payments even easier, Karatbars went further. A new blockchain-based smartphone (IMpulse K1) was conceptualized by the best blockchain developers all over the world and will allow making all secure crypto payments that a person needs. Gold has increased in value against most currencies in the past years. It is also known that central banks hold at least 60% of all the gold and all the world. The person put his money in banks; they buy gold, they get 10%, and you get 1%. That is an excellent deal for the bank and a bad one or you. The problem is that 99% of the population do not have any..