Russian Sberbank to Establish Crypto Exchange in Zurich Switzerland: The largest bank in Russia and the third largest in Europe is looking to enter crypto. They are establishing it outside of Russia to avoid local legislation. The service will only be available for large legal entities initially but may change in the future. It’s worth to mention this is the first time a major bank has started a crypto entity in Switzerland. The neutral mountain country is proving to evolving its financial haven roots into including crypto.
Cloud Network Xunlei Hit By Class Actions Over ICO: This is the first and not last of investor legal action against companies that pivoted to Blockchain. It is even worse since the company tried to pass ICO restrictions by using fluff wording like initial mining offering. The legal realm care not about wording, but about what you are doing. As I’ve been saying, an ICO is a security in all cases as far as we are concerned.
Royal Mint to Introduce Gold-Back Cryptocurrency: They feel like blockchain will help make transactions easier for the sellers and customers It entered a partnership with CME Group so you know this will be a pretty well understood launch. It isn’t the only case of gold-backed assets. Perth Mint, Australia’s largest precious metal refinery also announced a gold-backed crypto.
No, India Won’t Ban Bitcoin and Will Embrace Blockchain Technology Too: Some recent FUD was that India is banning crypto. Just like South Korea, it was all just FUD. That’s why I didn’t really talk about it. India is looking to embrace blockchain technology and only has a negative view on ICOs like many countries. That’s why I think that is one sphere that needs to be reigned in or the rest of crypto may suffer.
Illinois Eyes Blockchain for IDs and Public Asset Management: This move will shift the government from being a custodian for data to a verifier for data. This increases e since the state relies a lot on paper. It also helps eliminate fraud.
Bee Token ICO Stung by $1 Million Phishing Scam: As always, be careful about emails. ICOs are especially targeted for phishing scams. It seems like this one is mainly because the security failure of the team. The email list got seized which led to this issue.
Insurance Companies See Big Opportunities in Unregulated Cryptocurrency Market: It is still considered exploratory to where it is slowly being implemented by insurance companies. Some insurance only cover employee theft and not hackers, which make sense. Could expect to see some insurance agencies enter soon enough.
Texas Takes Aim at Overseas ICO with Cease-and-Desist: Texas is at it against with sending these letters. Hong Kong-based R2B Coin. It claims it is being misleading and deceptive. Claiming with be worth $200 in three months and claims investors would be able to trade the coins for actual stocks.
Copycat Twitter Accounts Seek to Scam Crypto Users: There is a lot of people scamming going on with twitter accounts that look super like popular figures. Obviously don’t believe anything
Canadian Regulators Approve Country’s First Blockchain ETF: Harvest Portfolios, an independent Canadian investment management company, filed the preliminary paperwork for its Blockchain Technologies ETF. Two more ETF’s are attempting to launch soon. They have seen interest in many clients in Canada and US about blockchain and Bitcoin.
Report: Bank of America, JP Morgan Ban Credit Crypto Purchases: A lot of Banks are banning people from buying on credit. This does not extend to debit cards.
Crypto Billionaires Are Building a Utopia in Puerto Rico: Named Sol, a bunch of rich crypto heads are buying up land. They are doing this because the country charges no federal personal income tax, no capital gains tax, and offers favorable business taxes. Even more enticing is the fact that Americans need not renounce their citizenship.
President Maduro: Venezuela to Launch ‘Petro’ Pre-sale on February 20: It could be the biggest ICO ever. Remember that if you are from a country that is sanctioning Venezuela you may be in trouble for participating in this ICO.
Scammers Will Pay $5,000 Through Upwork for the “Next Bitcoin”: I’ve personally seen some of those. Upwork is littered with jobs to make a crypto. With good devs in high demand, it is obvious the only thing going on here cheap clones and incompetent devs.
LitePay and LitePal – Two New Litecoin Payment Processing Services on the Way: LTC got options to be instantly converted for only a 1% fee.