Bill Proposes To Bar Tech Companies From Offering Financial Services
A bill has been circulated for discussion by the Democratic majority which leads the House Financial Services Committee to propose barring big technology companies from offering financial services. If it ends up becoming law, major tech companies would not be able to act as financial institutions or issue their own digital currencies.
House Lawmakers Call On Facebook To Put Libra Cryptocurrency On Hold
Facebook’s launch of its Libra cryptocurrency was never going to go through without scrutiny from lawmakers. Not long after the ambitious project was revealed by Facebook CEO Mark Zuckerberg, House Democrats are now calling on the company to put the development of its Libra cryptocurrency and its Calibra digital wallet on hold.
China Is Thinking About Banning Cryptocurrency Mining
Some of the largest cryptocurrency mining operations are understandably located in China but this isn’t something that the country feels is worth doing. Regulators in China appear to be even considering a ban on cryptocurrency mining altogether as they have classified it as an “undesirable” economic activity.
Crypto Exchange Founder's Death Leaves $190 Million In Limbo
QuadrigaCX, a Canadian cryptocurrency exchange, finds itself in a pickle after the death of its 30 year old founder Gerald Cotten. The founder was the only person who had the passwords to the exchange’s cold storage. This means that most of the $190 million in client holdings that the exchange has are now stuck in limbo.
Razer SoftMiner Uses PC Idle Time To Mine For Cryptocurrencies
Razer today announced the launch of a new desktop app called the Razer SoftMiner. The app makes use of idle GPU processing power of gamers’ powerful machines to mine for cryptocurrencies in the background. The mining process involves solving complex puzzles on the blockchain. Those who use this app will be rewarded with Razer Silver virtual credits depending on how long they have SoftMiner running.
Cryptocurrency Promotions Cost Floyd Mayweather And DJ Khaled Dearly
It was common to see social media influencers and even some celebrities promote ICOs or cryptocurrency offerings over the past year as the digital currency market was in a frenzy. The U.S. Securities and Exchange Commission has been looking into these promotions and is now handing penalties to those who promoted ICOs without disclosing their investments in the coin.
Businesses In Ohio Will Be Able To Pay Taxes With Bitcoin
Bitcoin has had a rough couple of weeks as its value continues to nosedive. However, support for the virtual currency continues to grow. Ohio has become the first state to allow businesses to pay their taxes with Bitcoin. It has opened a new cryptocurrency portal for this purpose. The Wall Street Journal reports that Ohio seems to be the first state to allow businesses to pay their taxes with a […]
Bitcoin Value Reaches New Low For 2018
Gone are the days when it felt like the value of bitcoin and other cryptocurrencies would just keep on climbing. The values have tanked pretty hard over the past year and continue to do so. The bitcoin value has now hit a new low for the year 2018, hitting its lowest point since September 2017. It’s down a staggering 30 percent for the week.
Chinese Headmaster Fired For Using School's Power For Cryptomining
Mining for cryptocurrencies such as Bitcoin and Ethereum requires a lot of mining machines which obviously require a lot of power. A school headmaster thought he had found a way to continue mining for Ethereum without racking up his power bill. He just hooked up the machines to his school’s electricity supply which was obviously not allowed. He was fired once the machines were discovered.
Google Cryptocurrency Ad Ban Has Been Relaxed
To prevent people from falling victim to cryptocurrency scams that were reaching a fever pitch during the heights of the cryptocurrency boom just a few months ago, Google decided to ban all sorts of cryptocurrency-related ads on its network. The internet search giant has now decided to relax the ban on cryptocurrency ads as it’s going to allow regulated exchanges to advertise on Google in select markets.
Messaging App Line Launches Its Own Cryptocurrency
Line, the Japanese messaging app that’s quite popular in Asia, has announced the launch of its own cryptocurrency called Link. The idea is to bring in more users and retain them. The Link token will be given away for free to users when they complete certain activities. This lets Line get its token out to users without conducting an initial coin offering and asking them for money upfront for the […]
Messaging Company Line Launches Cryptocurrency Fund
Line is a messaging service that’s particularly popular in Asia. The messaging app has more than 200 million users largely focused in markets like Thailand, Japan, and Taiwan. It has been making significant moves recently into the cryptocurrency space. The company launched its BitBox crypto exchange last month but it’s not available in the United States or Japan due to regulatory challenges. It has now announced the launch of a […]
IBM Experimenting With Cryptocurrency Pegged To U.S. Dollar
IBM has decided to experiment with a digital currency that’s pegged to the United States dollar. The cryptocurrency stablecoin is tied to the government-backed currency that is the USD. The idea behind tying up the cryptocurrency with an existing currency is to reduce the volatility that’s often seen with digital currencies.
World Cup Gambling Ring With $1.5 Billion In Crypto Bets Busted
A FIFA World Cup gambling ring has been busted by officials in China which had reportedly took in bets worth more than 10 billion yuan or $1.5 billion in cryptocurrency bets. The authorities are said to have arrested six individuals linked to a web-based crime syndicate that’s connected to the dark web. Cryptocurrencies worth more than 10 million yuan were found in their possession and seized.
Line Launching Cryptocurrency Exchange Next Month
Popular cross-platform messaging app Line has confirmed that it’s going to launch a cryptocurrency exchange called BitBox in July. The move isn’t surprising as Line had said back in January this year that it was thinking about entering the crypto game with an exchange. Line has clarified today, though, that its exchange won’t be open to customers based in the United States and Japan likely due to regulatory uncertainty.
Bithumb Loses $30 Million In Crypto After Hack
Cryptocurrency exchanges continue to face security issues as yet another hack on an exchange has resulted in millions of dollars worth of cryptocurrency being stolen. Merely weeks after South Korean exchange Coinrail lost $40 million in a hack, another South Korean exchange Bithumb has been hacked as well, losing $30 million worth of cryptocurrency in the process.
Bitcoin Tumbles After $40 Million Cryptocurrency Hack
It’s not uncommon for cryptocurrency exchanges to get hacked and the losses often run into tens of millions of dollars. Whenever something like this happens, the bitcoin price tends to take a hit as a result and that’s precisely what has happened after Coinrail, an exchange based in South Korea confirmed that it was hacked and that hackers made off with $40 million worth of tokens and altcoins.
New Crypto-Mining Motherboard From Asus Supports Up To 20 GPUs
Asus is tapping into the cryptocurrency mining trend with a new motherboard it has announced today that can support up to 20 GPUs, thus enabling users to effectively power an entire mining farm with one single board. It’s aptly called the H370 Mining Master motherboard and as you can probably tell, it has been developed with the express purpose of mining cryptocurrency in mind.
U.S. Investigating Price Manipulation Of Cryptocurrencies
Bitcoin and other cryptocurrencies have been on a wild ride over the past few months with significant price volatility that may have made some people a lot of money but it would have certainly cost a lot of people money as well. The U.S. Justice Department and the Commodity Futures Trading Commission feel that something’s not quite right which is why they have started investigating possible price manipulation in the […]
Unicef Australia Mining Cryptocurrency For Fund Raising
Organizations like Unicef do a lot of good work across the globe but they always need funds to keep doing what they’re doing. These organizations are always looking out for new fundraising opportunities and now Unicef Australia has embraced cryptocurrency mining as it seeks to raise more funds to support its activities.