1. Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege
The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall.
According to a press release issued Thursday, NYAG Letitia James announced that she had obtained a court order against iFinex Inc., which operates both Bitfinex and Tether, ordering them to cease violating New York law and defrauding New York residents. James said that an investigation by her department determined that iFinex “engaged in a cover-up to hide the apparent loss of $850 million of co-mingled client and corporate funds.”
[Source: Coindesk] ✩✩✩✩✩
2. You Can Now Buy Crypto With Visa and Mastercard via Binance App for Android
On Thursday (April 25), Binance announced that its mobile app for Android now lets you buy with Mastercard or Visa some of the most popular cryptocurrencies that are listed on Binance.com.
According to Binance, this support for cryptocurrency purchases via debit/credit cards, which is possible as a result of the partnership with Fintech startup Simplex that was announced on January 31, is available in version 1.5.8.0 or higher of the “Binance — Cryptocurrency Exchange” app for Android.
[Source: Cryptoglobe] ✩✩✩✩✩
3. Report: India Considers Complete Ban on Digital Currencies
A draft bill that would outright ban cryptocurrency is reportedly circulating among various departments of the Indian government, local media outlet The Economic Times reported on April 25.
[Source: Cointelegraph] ✩✩✩✩✩
4. Payments Firm Wirex Launching 26 Stablecoins on the Stellar Blockchain
Payments platform Wirex is launching 26 stablecoins on the Stellar blockchain network. The U.K.-based firm announced the news on Thursday, saying that the stablecoins will be backed by fiat currencies including the U.S. dollar, euro, the British pound, Hong Kong dollar and the Singapore dollar.
Wirex, which is licensed by the country’s finance watchdog, the Financial Conduct Authority (FCA), added that the cryptocurrencies can be spent using its own multi-currency Visa card. Wirex’s card allows users to convert and spend cryptocurrencies wherever Visa is accepted, till now supporting 8 cryptocurrencies and 10 fiat currencies.
[Source: Coindesk] ✩✩✩✩✩
5. Nike Files Trademark Application in the US for ‘Cryptokicks’
Nike has filed a trademark application for the phrase “Cryptokicks,” a document filed with the U.S. Patent and Trademark Office on April 19 shows.
The footwear giant’s application describes offering crypto wallets and “downloadable mobile applications for providing access to crypto collectibles, crypto art and application tokens” — as well as operating an online marketplace featuring footwear and clothing.
[Source: Cointelegraph] ✩✩✩
6. Top 3 Japanese Bank to Roll Out Services on Marco Polo Blockchain
Sumitomo Mitsui Banking Corporation (SMBC), Japan’s third-largest bank by total assets, will launch blockchain-based trade finance services in the second half of this year.
SMBC’s vice chairman Yasuyuki Kawasaki announced the news at a recent fintech seminar in Tokyo, saying that the bank will roll out new services for import and export companies using the Marco Polo trade finance blockchain platform, CoinDesk Japan reported Thursday.
[Source: Coindesk] ✩✩✩✩
7. Ripple Unlocks 700 Million XRP, Sells $169 Million Worth of Crypto Asset in Early 2019
Ripple just revealed its XRP Markets Report for the first quarter of 2019.
The San Francisco startup says it sold $169.42 million worth of XRP in January, February and March in over-the-counter transactions — a 31% increase from the previous quarter.
Of that $169.42 million, $61.93 million XRP were sold directly to institutions. The remaining $107.49 XRP was sold programmatically to crypto exchanges and other companies that have previously arranged deals with Ripple.
[Source: TheDailyHodl] ✩✩✩
8. Moscow and Three Russian Regions to Legally Pilot Crypto and DLT Tech: Local Media
Moscow and three other Russian regions will legally pilot the use of cryptocurrencies and blockchain technology, local media outlet Izvestia reports on April 24.
The Russian Ministry of Economic Development is reportedly planning to test now-unregulated emerging technologies such as blockchain and crypto, as well as augmented and virtual reality, quantum tech, artificial intelligence and robotics.
[Source: Cointelegraph] ✩✩✩✩
9. “Crypto Assets” Should Be Used, Rather Than “Virtual Currencies,” Says Japan’s Minister of Finance
The minister of finance and deputy prime minister in Japan has requested that local reporters no longer use the phrasing “virtual currencies” when they speak about the assets of the crypto industry. The remarks were made when he was answering a question during a crypto Q&A session at a press conference.
The conference, which was held on March 26th, was recorded on a transcript, published by Japan’s Financial Services Agency on April 26th with an English translation as well. The decision to insist on the term comes at the same time that the cabinet approved the draft amendments that impact the laws surrounding payment services and financial instruments.
[Source: Bitcoinexchangeguide] ✩✩✩
10. Malta’s Financial Regulator Issues Guides on Crypto Assets, Scams
Malta’s financial regulator has issued a note to the public regarding the risks of crypto assets and the possibility for scams, news outlet Times of Malta reported on April 25. The Malta Financial Services Authority’s (MFSA) new guidance note intends to warn the public about cryptocurrency investments and related risks, and educate people on how to identify and avoid scams and fraudulent schemes.
[Source: Cointelegraph] ✩✩✩✩
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