Author: Darryn Pollock

Chilean Banks vs Crypto Exchanges: Will Citizens Have Access to Technology?

Following Chilean exchange Buda’s decision to fight their banking blockade, the CEO has questioned these banks’ decision making. Earlier this week, a group of cryptocurrency exchanges in Chile applied to the courts to fight the decision of banks to shut down their bank accounts. The exchanges, including Buda, Orionx, and CryptoMarket (CryptoMKT), state that the banking system in Chile is taking matters into their own hands and that they are “killing the entire industry.” Banks Itau Corpbanca and Scotiabank announced the closure of the bank accounts of BUDA and CryptoMKT on March 19. A week later, the state-owned Banco...

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Strange Twists And Turns Of Nano And BitGrail Since The $150 Mln Hack

The relationship between exchange BitGrail and coin Nano has led to a strange saga unfolding following a $150 Mln theft. While hacks and thefts from cryptocurrency exchanges are nothing new, there have been some notable cases, as well as some smaller and less publicised ones. However, it is not always the eye-watering figures that are stolen that draw headlines – sometimes it is the saga that unfolds after the theft. This has been the case of the Feb. 8 hack of Italian exchange, BitGrail. The story started to pick up attention as Nano, which was what RailBlocks was rebranded...

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How Australia Is Becoming A Cryptocurrency Continent: Markets, Regulations And Plans

Australia has taken the lead when it comes to cryptocurrency regulation, and has done so with many positive and balanced intentions The very nature of cryptocurrencies dictate that regulation, control, and by extension, a centralized system, do not fit in with what they stand for. They are supposed to be totally decentralized, and therefore not dictated by many rules. This made a lot of sense when cryptocurrencies were not in the spotlight, and not a major factor on the world stage. However, as mainstream adoption has increased, and more individuals have entered the market, so has the interest from...

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Bitfinex in Poland: Were There Money Laundering Links?

When allegations of fraud and money laundering were leveled at Bitfinex, they denied it, but how much of a link was there to start? On April 7 reports started emerging from Poland that Polish prosecutors seized €400 mln from an account that was allegedly linked to one of the biggest exchanges globally, Bitfinex. While links to the crypto exchange existed, they were tenuous at best, and involved a long string of players that apparently led back to Bitfinex. From the Belgian Ministry of Foreign Affairs to an embassy in the Democratic Republic of Congo, links to Colombian cocaine cartels...

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Q1 Breaks All the Wrong Bitcoin Price Records, But Why Should Crypto Market Be Optimistic For Q2?

The cryptocurrency market first quarter made for some nightmare reading, but there is still optimism for Q2 There have not been many times in the cryptocurrency market where an extended period has seen negative growth; however, the first three months of 2018 have been the exception. In fact, this first quarter of 2018 has broken records and registers as the worst first quarter in the history of Bitcoin, and the second-worst quarter ever. A week into Q2 crypto analysts and experts are approaching the next few months with optimism despite what has gone before. There are a couple of...

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Story of Coincheck: How to Rebound After the ‘Biggest Theft in the History of the World’

The biggest single exchange hack ever happened in Japan, following in the path of the former record holder, Mt. Gox Those who held Bitcoin through the Mt. Gox hack of 2014 experienced one of the most tumultuous times in cryptocurrency history, having seen some of the darkest days in the ecosystem. However, Mt. Gox has been overtaken as the biggest single exchange hack with Coincheck, also a Japanese exchange, taking the title. While thieves walked away with a bigger payday from the recent hack, the effect on the entire cryptocurrency market was far less severe. Were there lessons that...

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Crypto Prizes On The Rise, Magical Marketing Or Another Scam?

Crypto prizes are becoming popular for games and competition, but what is the gimmick? And what is the impression? The art world, the gaming world, and even a few app developers are jumping onto the trend that is cryptocurrencies, seeing them as a perfect prize to tantilize and attract people to their work. But what is the end goal for these people and companies? There is of course a lot of free marketing that comes up when ever cryptocurrencies are tied to something – the real estate sector has felt that – but, for an abstract artist like Andy...

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Sierra Leone’s Fake Blockchain Election Hasn’t Damaged the Technology’s Reputation

The furor kicked up over the alleged Sierra Leone Blockchain election has at least not dampened to technology’s potential In the wake of seemingly positive news for both Sierra Leone and Blockchain, where it was alleged that the technology formed part of an election process, it later emerged that there was some misinformation. Agora, the company that was at the heart of the miscommunication, was called out for proclaiming that they ran part of the African Nation’s election on the Blockchain, when in reality, they were merely showing how Blockchain elections could be done, running it concurrently as a demonstration to the...

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Twitter Takes Aim At Dodgy ICOs But Throws A Blanket Ban On All Crypto Advertising

Twitter’s Crypto advertising ban seems to have good intentions, but is this the right way to go about things? Twitter has been toying with cryptocurrency for the last few weeks. First, rumours emerged that it would be following Facebook and Google in placing a ban on crypto advertising. Then, cryptocurrencies received a glowing recommendation from Twitter’s CEO, Jack Dorsey, who said Bitcoin will be the world’s – and Internet’s – single future currency. However the toying came to an end with a snap as Twitter announced that it would indeed be putting up a rather large ban on cryptocurrency...

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G20 and Cryptocurrencies: Baby Steps Towards Regulatory Recommendations

A July deadline has been mostly agreed upon by the G20 Nations for recommendations towards Global regulations for Cryptocurrencies Late last year, when interest in Bitcoin and its price was at its peak, France’s finance minister suggested that there be a public debate of Bitcoin at the G20 summit which concluded this week. The conclusion of this meeting, in regards to where the nations now stand on cryptocurrencies, is that a firm July deadline has been put forward for recommendations on how to regulate cryptocurrencies globally. There was some general uptake and interest in approaching this hitherto unknown and...

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