Coinbase Crypto Exchange Debuts Visa Card for UK Customers

Major American cryptocurrency exchange Coinbase has launched Coinbase Card, that enables its United Kingdom-based customers to pay in-store and online with cryptocurrency. The development was announced in a blog post published on April 10. The Coinbase Card is a Visa debit card powered by customers’ Coinbase account crypto balances, which allows them to make purchases with digital currencies worldwide. Coinbase instantly converts customers’ cryptocurrency funds into fiat currency in order to complete the purchase. Coinbase also released the Coinbase Card app for iOS and Android, which links customers’ Coinbase accounts…

Bittrex Responds to NYDFS Denial of BitLicense Application, Cites Factual Inaccuracies

United States-based cryptocurrency exchange Bittrex has responded to the New York Department of Financial Services’ (NYDFS) denial of the company’s BitLicense application in a press release published on April 10. Earlier today, NYDFS denied Bittrex’s application for a BitLicense — which is required to conduct virtual currency related business in the state of New York — claiming that the exchange had inadequate policies and controls regarding Anti-Money Laundering (AML), Know Your Customer (KYC) and the Office of Foreign Assets Control (OFAC) standards. In its response, Bittrex expressed its disappointment in…

Understanding Bitcoin, the Demos: How to Become a Bitcoin Power User

The Understanding Bitcoin conference held in Malta from April 5 to April 7, 2019, was all about turning regular Bitcoin users into power users. Bitcoin hardware and software is often more configurable than people realize (or they do realize this but are unable to take advantage of it). Spread throughout the conference were 18 demos by leading Bitcoin developers and experts illustrating how to make the most out of available Bitcoin tools. For your convenience, here is an overview of all of the demos: Blockstream Green’s Hardware Wallet Blockstream Green…

Chinese Bitcoin Miners Suffer in Iran Despite Cheap Power

This article was originally published by 8btc and written by Lylian Teng. Many Chinese cryptominers have migrated to places with cheap electricity and favorable policies as a result of the escalated government crackdown on cryptocurrency and its production process. With the rapid downfall of bitcoin prices in late 2018 and increasing electricity bills, Chinese mining investors are looking for alternative places to sustain their businesses. The tightened regulations on cryptomining in the country, for the risk of crypto speculation and concerns about energy usage, urge them to speed up their…

Bermuda Ministry of Finance Approves Velocity Ledger ICO

The Bermuda Ministry of Finance has approved the initial coin offering (ICO) of trading company Velocity Ledger Holdings Limited (VLHL), according to a press release published on April 10. VLHL’s subsidiary VL Financial is now in the application process with the Bermuda Monetary Authority (BMA) to obtain the relevant licenses to operate. If approved by the BMA, the company will operate a digital asset exchange in Bermuda. The release notes that the company can use VL tokens for payment for licensing VL technology platforms and services. Commenting on the development,…

Tron Has Fastest Growing DApp User Base, Ethereum Still Developers’ First Choice

A report released on April 9 by DApp (Decentralized Application) analytics website DApp.com reveals that Tron (TRX) has the fastest growing DApp user base while Ethereum’s (ETH) DApp user base is shrinking. On the Ethereum chain, there was a 4 percent decrease in the number of DApp users compared to last year. About 72,422 old users are still using Ethereum-based DApps in 2019. Decentralized Exchanges (DEXs) are responsible for more than half of the ETH DApp transaction volume, followed by gambling apps. Also, gamers were reportedly the most active ETH…

Major Bank CEOs Testify at US Congress, Topics Include Blockchain and Crypto

Chief executive officers of leading banks testified before the United States House of Representatives Financial Services Committee on April 10 on how the banking industry has transformed since the 2008 financial crisis. Among many topics spanning the breadth of the banking industry, the CEOs and lawmakers discussed blockchain technology and cryptocurrencies. During his allotted time for questioning, Rep. Warren Davidson (R) argued that the industry is entering into a new era of innovation, wherein blockchain technology is transforming existing financial systems, as well as cybersecurity. Davidson also noted that the…

Electrum Servers Remain Under Sustained DoS Attack

Electrum servers are still under a sustained Denial-of-Service (DoS) attack. The wallet developers announced the issue on April 7, 2018. In correspondence with Bitcoin Magazine, Electrum developer Thomas Voegtlin speculated that the attack may be a form of retaliation from a phishing attacker who has been targeting Electrum in recent weeks. Since his phishing attacks had been thwarted, the attacker could now be resorting to DoS attacks instead, simply to frustrate Electrum developers and users. Voegtlin pointed out that, if this is the case, the behavior “is not rational” given…

Bitfinex Scraps Its $10,000 Minimum Balance Rule

Bitfinex is now open to every trader as the Hong Kong-based cryptocurrency exchange has removed its $10,000 minimum balance rule. Citing a rising demand from retail traders who couldn’t trade on the platform due to the requirement, Bitfinex CEO Jean-Louis van der Velde said the platform is now ready for a “new wave of customer accounts,” according to a company Medium post. “We simply could not ignore the increasing level of requests for access to trade on Bitfinex from a wider cohort than our traditional customer base,” van der Velde…

Bitstamp Receives New York BitLicense

Another digital asset platform has received approval to do business in New York. Bitstamp, one of the largest crypto exchange platforms in Europe, has been granted a virtual currency license from the New York State Department of Financial Services (NYSDFS). The exchange became the 19th firm approved to offer crypto-based services in the world’s financial center. The regulator announced in a press release published on April 9, 2019, that it had granted Bitstamp full authorization to run its digital currency operations in New York. Bitstamp applied for BitLicense through its…