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BitConnect Shuts Cryptocurrency Exchange Citing Bad Press, DDoS Attacks, Regulator Scrutiny

The operator of BitConnect, a cryptocurrency that has long courted controversy, has announced the closure of its cryptocurrency exchange and a separate lending platform. In an announcement on its website on Tuesday, BitConnect confirmed the immediate closure of its lending operation whereas its exchange platform will effectively shutter in a further five days. The website, meanwhile, will […]

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Reports: Crypto Now Considered a Commodity on Indonesia’s Stock Exchange

The Indonesian Trade Ministry’s Futures Exchange Supervisory Board (Bappebti) has signed a decree to make cryptocurrency a commodity legally tradable on a stock exchange, local news outlet The Jakarta Post reports today, June 4. According to Dharma Yoga, head of Bappebti market supervision and development bureau, the Future Exchange Supervisory Board decided to allow crypto […]

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As July 20 Approaches, Cryptocurrency Exchanges Try Reasoning With Reserve Bank of India

On April 5, the Reserve Bank of India had passed a circular instructing all Indian banks to wind up their business activities with cryptocurrency exchanges. Not happy with the order, cryptocurrency exchanges based out of India or having India-based clients filed a petition in various courts across the country citing the move as ‘unconstitutional’ and […]

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Dubai Department of Finance Launches Blockchain-Based Payment System for UAE Gov’t

The Dubai Department of Finance (DoF) has partnered with the Smart Dubai Office (SDO) to launch a blockchain-powered payment system. The news was reported on by a local news site Zawya, September 23. The new platform, called “Payment Reconciliation and Settlement,” was officially launched Sunday, September 23. It is reportedly geared towards government entities, such […]

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Microsoft Eyes Role for Public Blockchains in Decentralized Identities

Software giant Microsoft has said it sees potential for public blockchains in supporting decentralized identities and will explore the possibilities within its Microsoft Authenticator app. In a blog post released on Feb. 12, Microsoft’s Identity Division doubled down on its belief that blockchain technology is the right solution to store, maintain, protect and distribute users’ identification information in […]

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Samsung Confirms It’s Now Making Cryptocurrency Mining Chips

Samsung has confirmed it is now manufacturing bitcoin mining chips after reports to that effect surfaced this week. South Korean news outlet The Bell first revealed the news on Jan. 30, stating that Samsung was kicking off manufacturing in January, aiming to provide application-specific integrated circuits (ASICs) to an unnamed Chinese mining firm. A company spokesperson has […]

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Goldman Sachs-backed Crypto Startup Circle Aims for US Banking License

The Goldman Sachs and Baidu backed cryptocurrency startup, Circle Internet Financial Ltd., one of the most valuable cryptocurrency startup is making a big move in the highly regulated banking and brokerage space. According to an interview with Bloomberg, its CEO Jeremy Allaire has revealed that they are seeking federal banking license and registering as a securities […]