Another Indian Crypto Exchange Shuts Down Blaming Banking Ban

Regulatory uncertainty ushered in by India’s central bank appears to have brought about the demise of another cryptocurrency exchange in the nation. In a Medium post published Thursday, the Koinex exchange says it’s been forced to shutter its services as a de facto ban on banking relationships for crypto firms – ordered by the Reserve Bank ...

Singapore Exchange Bitrue Hacked for Over $4 Million in Crypto

Singapore-based cryptocurrency exchange Bitrue has been hacked for around $4.2 million in user assets. The platform announced the breach in tweets, saying that the event was identified at around 1 a.m. local time Thursday. Users funds are insured and anyone who lost cryptocurrency would be refunded, according to the company. The exchange said: “First of ...

Fujitsu Develops Blockchain ID Tech That Scores Trustworthiness in Transactions

Fujitsu Laboratories has unveiled what it calls “digital identity exchange technology” aimed to increase the security of online transactions. The tech, based on blockchain, makes it possible for individuals and businesses making online transactions to confirm the identity of other parties involved. More importantly, the identification system gauges the the “trustworthiness” of the other party’s ...

Blockstream Launches Atomic Swaps on Liquid Bitcoin Sidechain

Blockstream has created an “experimental” tool that makes it easier for users to trade “trustlessly” between tokens launched on its Liquid sidechain. Dubbed Liquid Swap Tool, the platform uses “atomic swaps,” a cryptographic technology that already serves as backbone for newer decentralized exchanges currently in development. The motivation for these types of transactions is that ...

Bitcoin Could Help Stop News Censorship – From Space

A loose group of developers are testing out the idea that the combination of bitcoin and orbital communication might provide a means for stopping governments or other powerful entities from suppressing news they don’t like. Censorship is a worldwide problem, with one of the more recent examples include a new law strengthening the Russian government’s ...

Cryptocurrency in China: Over the Counter, Under the Table

Dovey Wan is a partner at Primitive Ventures, a crypto asset investment fund, and a member of CoinDesk’s advisory board. This essay is presented as a part of No Closing Bell, a series leading up to Invest: Asia 2019 focused on how the Asian crypto markets are interacting with and impacting global investors. To keep ...

South Korean Watchdog Plans Direct Supervision of Crypto Exchanges

A South Korean financial watchdog under the Financial Services Commission (FSC) is planning to more closely supervise cryptocurrency exchanges. The agency in question, the Financial Intelligence Unit (FIU), has said it will directly regulate crypto trading platforms, which currently are indirectly controlled via guidance given to banks, says a report in Business Korea on Wednesday. For ...

UK’s Pensions and Welfare Department Eyes DLT for Faster Payments

To keep up with the changing face of payments, the U.K.’s pensions and welfare division of government, the Department for Work and Pensions (DWP), says it is investigating distributed ledger technology. In a blog post published late last week, Richard Laycock deputy director at the DWP’s Digital Delivery Shared Platforms, said that improvements are planned across the ...

$100K Crypto Donation to Amazon Rainforest Charity Blocked By BitPay

Update (20:10 UTC, Aug. 23 2019): After the publication of this article, BitPay said it had resolved the situation with Amazon Watch and verified the charity to accept unlimited donations. A large donation to a non-profit working to protect the Amazon rainforest and the environment has been blocked by compliance rules at crypto payments firm ...

The State of Security Token Regulations in Asia

This essay is presented as a part of No Closing Bell, a series leading up to Invest: Asia 2019 focused on how the Asian crypto markets are interacting with and impacting global investors. To keep the conversation going in person, register for Invest: Asia 2019 coming up in Singapore on Sept. 11-12. Since the cryptocurrency boom and ...