Friday, 7 June 2019
1. India’s Central Bank Denies Knowledge of Bill to Ban Cryptocurrencies
India’s crypto regulation is reportedly ready and there has been much speculation about what it contains. An Indian lawyer has gotten some answers from the Reserve Bank of India about a bill allegedly seeking to ban cryptocurrencies. Surprisingly, the central bank claims that it does not have any knowledge of this bill and did not endorse any ideas towards a complete ban on cryptocurrencies.
[Source: Bitcoin.com] ✩✩✩✩
2. SEC Chair: Bitcoin Is Not Like Stocks, ‘We Won’t Flip a Switch on Crypto’
SEC Chairman Jay Clayton has realized something the crypto community has been trying to tell him for years — cryptocurrencies aren’t stocks. In an interview with CNBC yesterday morning, Clayton offered the securities regulator’s latest take on bitcoin, and it seems they appear no closer to providing any clarity for traders and blockchain startups today than they were a year ago. This is a setback for tech innovation in the U.S. because the more time the SEC takes, the more entrepreneurs are going to decide to pack their bags and take their successful projects elsewhere.
[Source: CCN] ✩✩✩✩✩
3. US Congressman Seeks Tax Clarity for Cryptocurrencies
United States Congressman (R-N.C.) Ted Budd testified to the House of Representatives Ways and Means Committee on purported issues with current tax laws on cryptocurrencies, as per a video of the testimony released on June 4.
[Source: Cointelegraph] ✩✩✩✩
4. NEO consensus protocol upgraded, on schedule for NEO 3.0
NEO upgraded its consensus mechanism ahead of the scheduled move to NEO 3.0 in 2020. Often referred to as “Chinese Ethereum,” the company has been making moves in 2019 to increase its global footprint. NEO recently opened a U.S. office―NEO Global Development Seattle, led by former Microsoft executive John deVadoss―and hosted its second developer conference in the same city.
Part of the process of readying the NEO blockchain for version 3.0 involved updating its Byzantine Fault Tolerance (dBFT) consensus mechanism. The upgrade to 2.0 makes the algorithm more resistant to disruptions and node failures, said a representative from NEO.
[Source: Cryptoslate] ✩✩✩
5. S.L. Benfica Is The First Major European Football Club To Accept Cryptocurrency
Portugal’s most popular football club has become the first of its kind to accept cryptocurrency payments after announcing its partnership with the UTRUST payment platform.
S.L. Benfica is the first major football club in Europe to allow the purchase of its merchandise in cryptocurrency. This allows fans to pay using UTRUST token (UTK) in addition to bitcoin and ethereum.
According to Benfica, the decision to accept cryptocurrency payments is based on a need to upgrade its e-commerce strategy and expand its global audience. Currently, the Portuguese team has a fan base of 14 million and stands as the most decorated club in Portugal.
[Source: Coindesk] ✩✩✩
6. 13 Million: Komodo Hacks Itself Before Hackers Have a Chance To
Komodo, a multi-chain cryptocurrency platform, has recently hacked itself to stop hackers from exploiting a security vulnerability that would’ve allowed them to steal over $13 million worth of cryptocurrencies, which are currently safe with the Komodo team.
According to ZDNet, the Komodo platform recently learned about the vulnerability after security researchers found a backdoor in one of its older wallet apps Agama. The vulnerability would allow hackers to steal every cryptocurrency held inside these.
[Source: Cryptoslate] ✩✩✩
7. Exclusive: Microsoft Registers Blockchain and AI Platform for Agriculture in Brazil
Microsoft has registered a suite of applications in Brazil that are designed to improve efficiency in the agriculture sector, according to an exclusive report by Cointelegraph Brazil on June 6.
[Source: Cointelegraph] ✩✩✩
8. Bitcoin mining migrating from China to the United States
There are signs that Bitcoin mining is beginning to gain a foothold in the United States — a win for the decentralization of the cryptocurrency ecosystem.
Considering the looming crypto mining ban, increasing pressure from the U.S.-China trade war, and the Chinese government’s cautious stance towards crypto, the diversification of miners out of the country isn’t surprising.
[Source: Cryptoslate] ✩✩✩
9. Margin Lenders Lost $13.5 Million in May to Poloniex Crypto Crash
Crypto exchange Poloniex revealed in a post Thursday that lenders in its bitcoin margin lending pool suffered a loss of 1800 BTC — roughly $13.5 million at current market prices — due to a flash crash in the Clams (CLAM) market on May 26.
[Source: Coindesk] ✩✩✩
10. Hackers steal $9.5 million from GateHub cryptocurrency wallets
Hackers have stolen 23.2 million Ripple coins (XRP), worth nearly $9.5 million, from the users of the GateHub cryptocurrency wallet service.
The company admitted to the security breach in a preliminary statement posted on its website.
[Source: ZDNet] ✩✩✩
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