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Blockimmo, Elea Labs and Swiss Crypto Tokens have carried out “the first” real estate transaction on a blockchain in Switzerland. Blockchain property transaction platform blockkimo Ltd along with two other companies have jointly completed “the first” real estate transaction on a blockchain in Switzerland. The development was announced by blockimmo in a blog post on Mar. 1. Blockimmo, proptech company Elea Labs Ltd. and digital assets service firm Swiss Crypto Tokens Ltd. have conducted a blockchain-based real estate transaction — consisting of 18 apartments and a restaurant — at a cost of 3 million Swiss francs ($2.98 million). The property was reportedly tokenized, which means that its real asset value is now represented digitally on the Ethereum (ETH) blockchain in the form of tokens. The transaction was supported by Swiss Crypto Tokens’ stablecoin pegged to the Swiss franc, the CryptoFranc (XCHF), to avoid price fluctuation risks. Elea Labs provided the real estate data of the prop..
Crypto exchange ErisX has announced the appointment of three new executives from the finance and technology spheres, including veterans from Barclays, YouTube and CBOE. Crypto exchange ErisX has appointed three veterans from Barclays, Youtube and the Chicago Board Options Exchange (CBOE) to fill executive roles at the company. The development was announced in a press release published Feb. 7. As reported, ErisX is a reboot of traditional futures market Eris Exchange, and is expected to begin support for spot trading in major cryptos. The exchange will support spot trading in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), as well as futures contracts starting in the second half of 2019, pending United States regulators’ approval. The new appointments will see Robert Thrash serving as chief operating officer (COO), Arnold Connell as head of infrastructure and John Denza as ErisX’s business development executive. Thrash — a derivatives executive whose experience spans prime brokerage,..
Denmark’s Tax Authority has been authorized by the country’s Tax Council to obtain information from three domestic crypto exchanges. Denmark’s Tax Authority has been authorized by the country’s Tax Council to obtain information regarding all trades of cryptocurrencies across three domestic crypto exchanges. An official announcement published on the agency’s website reported this development on Jan. 14. The authorization means that three unspecified Danish crypto exchanges now have legal disclosure obligations to hand over identity information that includes names, addresses and personal tax numbers, as well as details of all crypto transactions made on their platforms between Jan. 1 2016 to Dec. 31 2018. The Tax Authority has said it will use the information to ensure that citizens who have traded in crypto have duly paid the correct tax. Karin Bergen, a director at the agency, is quoted as saying that its fresh mandate will give it completely new opportunities in relation to its contr..
Three figures at Upbit and owner Dunamu are under investigation after South Korea’s financial regulator complained to authorities. South Korea’s largest cryptocurrency exchange Upbit has denied accusations it had manipulated its order book after regulators indicted three of its staff, local English-language news outlet The Korea Times reported 21. Upbit, which is owned by developer Dunamu, is accused of falsely inflating its volume figures on three occasions between October 2017 and December 2018. Citing reports from the Seoul District Prosecutors Office Friday, The Korea Times says two senior executives from Dunamu and one Upbit employee have been indicted, but not detained, as part of an investigation into the proceedings. The case came from South Korean finance regulator, the Financial Services Commission (FSC). “I'm worried about investors who may lose money in this market because of exchanges like Upbit,” the publication quoted an unnamed FSC official as saying, adding: “We ..
Circle co-founder Jeremy Allaire believes that crypto valuations will increase, and BTC will be worth “a great deal more” than it is now. Jeremy Allaire, co-founder of crypto finance company Circle, told CNBC in an interview Friday, Dec. 14, that Bitcoin (BTC) will be worth “a great deal more” than it is now. When asked about the Bitcoin price in three years, Allaire told Squawk Box host Andrew Ross Sorkin that he does not make “significant price predictions,” while adding, “I think it is certainly going to be worth a great deal more that it is today.” Allaire also stated that while Bitcoin is attractive as a non-state store of value, a slew of other tokens will enter the space, and the bases of their valuations will be diverse. He further explained: “I do not think it's a winner-take-all [situation]. We have the phrase ‘the tokenization of everything,’ and we think cryptographic tokens are going to represent every form of financial asset in the world. There will be millions of t..
New Zealand’s Financial Markets Authority has updated its blacklist with three suspicious crypto-related companies. New Zealand’s Financial Markets Authority (FMA) has added three more crypto platforms to its blacklist that warns about scams, a release by the FMA reveals Wednesday, Dec. 12. OneLife Network Limited and its associated entity OneCoin Limited were added to the list because they “bear the characteristics of a scam” and promise unrealistic returns. Moreover, the FMA has learned that the mentioned companies are holding promo events in New Zealand and offering investments, thus breaching the country’s las by acting as unregistered financial services. Another crypto company, Bitcoin Revolution Limited, was suspected of being involved in a scam as well. As Finance Magnates reports, the crypto trading firm made suspicious claims on its website, such as “Earn up to $1000 per hour or more, starting today.” Moreover, the FMA recalled its October warning, reminding the public that B..
One third of national blockchain-related policies in China have been made in three areas: Beijing, Shanghai and Guangzhou. Beijing, Shanghai and Guangzhou — or BeiShangGuang — has become the most concentrated area of relevant blockchain legislation and policy in China, reports local finance publication Securities Daily Dec. 7. The Chinese securities newspaper has analyzed blockchain-related policies introduced throughout the country in the recent years, and concluded that there are 32 blockchain-related policies within the country. Meanwhile, 11 projects are concentrated in three areas: Beijing , Shanghai and Guangzhou. The publications states: “Blockchain technology [is aimed] to serve the real economy, focusing on the balance between innovation, regulation and security, and clarifying the bottom line of financial stability and information security.” China has adopted a split policy toward blockchain and cryptocurrencies, praising and adopting blockchain technology — China’s Presid..
Galaxy Digital faced further losses in Q3, bringing its total losses in 2018 up to $136 million. Mike Novogratz's crypto investment bank Galaxy Digital has lost $136 million in the first three quarters of 2018, Bloomberg reports Nov. 28. According to Bloomberg, Galaxy Digital’s realized and unrealized losses in Q3 amounted to $41 million, which when combined with the results of previous quarters, amounts to the firm being out $136 million so far this year. The firm’s share price also dropped to a record low after tumbling 55 percent this month. Founded earlier this year, the company explained that the losses were mainly due to tumbling prices of major cryptocurrencies such as Bitcoin (BTC), Ripple (XRP), and Ethereum (ETH). Galaxy Digital called the lack of crypto trading volumes a “headwind” to success, while stating that the firm “continue[s] to improve and strengthen [their] trading business.” In addition to low trading volumes, the firm also attributed its recent losses due t..
In a bearish market were everyone is trying to come to terms with the current situation, different people are looking for explanations and positive news to lift their spirit. The CEO of Civic, Vinny Lingham, recently said that the price of Bitcoin will remain range bound for the next few months before any significant break will happen. This was during an interview with CNBC in its Fast Money segment. Bitcoin (BTC) Price Today – BTC / USD Name Price24H (%)$3,728.38 -7.00% According to Lingham, the price of Bitcoin will be ranging between $3,000 and $5,000 for at least six months. He believes that even if the price of BTC may fall as low as $3000, it may not break below this support. The buying pressure is high around this support level. However, during the interview, Lingham said that if the bear cycle isn’t broken in the next six months, the price may fall below the support at $3,000. Bitcoin (BTC) Price Today – BTC / USD Name Price24H (%)$3,728.38 -7.00% According to him, it is ri..
Civic CEO Vinny Lingham has predicted that the BTC price could remain range-bound for several months. Vinny Lingham, the CEO of identity management startup Civic, said in an interview with CNBC Nov. 26 that the Bitcoin (BTC) price will remain range-bound for several months, while it could break down of the $3,000 mark. Speaking on CNBC’s “Fast Money,” Lingham suggested that Bitcoin trading will be range-bound between $3,000 and $5,000 for at least three to six months. Lingham expressed doubts about whether the BTC price will break down of the support level at $3,000 since there is “a lot of buying in the short term around that mark.” However, Lingham stressed that “if we do not get out of the crypto sort of bear market cycle in the next three to six months, that $3,000 level could go.” Lingham also said that it is “a bit too risky” to buy BTC at its current point, also adding that with high risk comes high reward if the market does turn. Lingham further stated: “I think, the risks rig..