The top ten cryptocurrency exchanges are bringing in as much as $3 million per day in profit, according to Bloomberg calculations. Considering that cryptocurrency did not even exist until 2009, profit at that level is absolutely astonishing compared to the historical development of other industries. It is easy enough to understand how cryptocurrency exchanges make…
Read more
IdentityMind Global announced the immediate availability of its KYC Plug-in for ICOs. It provides a turnkey solution for customer onboarding functionality and user experience to walk ICO participants through the know your customer (KYC) process to meet regulations worldwide. The solution enables companies to perform required KYC and anti-money laundering (AML) checks on ICO participants.…
Read more
On January 23rd, South Korea's Financial Services Commission confirmed in a statement that all Bitcoin investors and traders would need to do future business dealings though real-name bank accounts in order to "reduce room for cryptocurrency transactions to be exploited for illegal activities, such as crimes, money laundering and tax evasion." Right after the news hit…
Read more
Stryking Entertainment, developer and operator of the innovative fantasy football platform Football-Stars, announced the upcoming introduction of its own Ethereum-based utility token STRYKZ. Stryking informed that it plans to revolutionize fantasy sports by integrating a cryptocurrency and blockchain technology. As passionate fantasy sports fans ourselves, we're aiming to extend our existing platform with the introduction…
Read more
Russia’s finance ministry shared information on its official website that it is working on legislation that would regulate cryptocurrency transactions without fully banning them, although it would not let digital FX be used as a payment in Russia. The draft law is said that will also regulate issues related to public raising of funds, cryptocurrencies…
Read more
The Chairman of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, came with a statement that the SEC is now investigating companies that benefited from the crypto hype by becoming "blockchain" ones overnight. It wasn't long ago when certain US companies experienced a strong stock price increase by just adding the word "blockchain" to its…
Read more
The Bermuda Monetary Authority issued a report today entitled Risks of Initial Coin Offerings (ICOs). The complete text of it can be seen below: Bermuda Monetary Authority (BMA) is committed to providing a regulatory environment for Bermuda’s financial services industry that both protects stakeholders and supports innovation. Says BMA CEO Jeremy Cox: Today’s fast-paced global…
Read more
While many companies have invested huge amounts of money into blockchain and bitcoins, venture capital firms have gone in a slightly different direction. They invested primarily in tech companies that are involved in bitcoin and blockchain technologies, going around the “traditional” path of investing directly into digital currencies. However, the return on investment in companies…
Read more
FXStreet just reported that an island in the Caribbeans, Anguilla, is to become the first regulatory body of ICOs. The government of the Caribbean nation is considering the Anguilla Token Offering Act, or AUTO, which would establish the world’s first registration process for new cryptocurrencyofferings. The Chief Minister of Anguilla, Victor Banks, commented on the idea: "We…
Read more
ICOs, or initial coin offerings, seem to have replaced the IPOs, the initial public offerings, in hype and attention. With the cryptocurrency market capitalization currently going through $200 billion, it is interesting to note the differences between ICOs and IPOs. An ICO, or an initial coin offering, is a sort of a crowdfunding project, with…
Read more