Cyprus Securities Regulator Calls for Adoption of EU Anti-Money Laundering Framework

The Cyprus Securities and Exchange Commission (CySEC) is calling for the transposition of the European Union (EU)’s Fifth Anti-Money Laundering (AML) Directive (AMLD5) into national law — bringing local regulation of cryptocurrencies under its provisions. CySEC’s announcement and consultation paper on the matter were published on Feb. 19. Тhe directive, which came into force on July 9, 2018, sets a new legal framework for European financial regulators to monitor crypto-related businesses and service providers in order to protect against money laundering and terrorism financing. Specifically, the directive extends the scope…

Inside Nvidia’s Difficult Relationship With Mining

On Feb. 14, California-headquartered gaming and computer hardware manufacturer Nvidia reported full-year revenue gains in 2018, despite being one of the companies worst hit by the cryptocurrency market dip and subsequent lack of demand for mining components. The firm’s main products include graphics processing units (GPU), among others, which became widely purchased by miners during the crypto boom of 2017 — as a result, the firm’s revenue started to correlate with the crypto market condition (at least to some extent), which resulted in a few shake-ups.   2017: Nvidia enjoys…

Major Crypto Exchange OKEx Adds Four New Margin Trading Pairs

Malta-based cryptocurrency exchange OKEx has added four new crypto derivative pairs to its platform, according to a press release shared with Cointelegraph on Feb. 19. OKEx, the third-largest crypto exchange by trade volume, has announced the listing of Bitcoin SV (BSV), QTUM, DASH and NEO against Bitcoin (BTC) or Tether (USDT) on margin with a 3x leverage option. Last month, OKEx added seven new crypto derivative pairs to its platform, including Bitcoin Cash (BCH), Bitcoin SV (BSV), EOS (EOS), Ethereum Classic (ETC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP), as…

Fintech Company TrueDigital Appoints Former Bridgewater Associates Executive as CEO

New York-based fintech company TrueDigital Holdings (TDH) announced the appointment of former Bridgewater Associates chief operating officer Thomas Kim as its new CEO through a post on its website on Feb. 19. Before his time at Bridgewater Associates, which had almost $125 billion assets under management in 2018, Kim worked at now-defunct global financial services firm Lehman Brothers in charge of the Townsend Analytics Electronic Trading franchise. According to today’s post, Kim will manage TrueDigital’s existing initiatives, such as the launch of Bitcoin (BTC) swaps planned for this year. In…

CEO of Japanese Finance Giant SBI Vests His Crypto Industry Hopes in Ripple and R3

Yoshitaka Kitao, CEO and representative director of Japanese financial services giant SBI Holdings, has singled out Ripple (XRP) and blockchain consortium R3 as reasons to remain optimistic about the future of the crypto industry — bear market notwithstanding. Kitao made his remarks during an interview with Japanese crypto news outlet Coin Post on Feb. 18. SBI Holdings is an active partner of Ripple via their joint venture, “SBI Ripple Asia,” established to promote the use of XRP in Asian financial markets back in 2016. In his interview with Coin Post,…

Bitcoin News Summary – February 18, 2019

Here’s what happened this week in Bitcoin in 99 seconds.  Morgan Creek Digital’s new crypto venture capital fund received investment from Virginian pension plans. The fund has raised $40 million, most of which for investment in promising crypto companies, though some portion will also be allocated to Bitcoin. A series of tweets by Wikileaks denounced Craig Wright, the self-proclaimed inventor of Bitcoin, as a “serial fabricator.” Wikileaks also presented documents which they say Wright forged to support his claim to be Satoshi Nakamoto. US bank, JP Morgan Chase &…

Ethereum’s Vitalik Buterin Discloses Non-ETH Crypto Holdings and Other Revenue Sources

Ethereum (ETH) co-founder Vitalik Buterin has disclosed that his crypto investments are virtually exclusively devoted to the Ethereum network, in a post published to an “Ask Me Anything” (AMA) Reddit thread on Feb. 18. The AMA post is dedicated the Ethereum leadership and accountability, asking those in leadership positions in the ETH community to share their possible conflicts of interest. In Buterin’s summary, his total holdings of non-Ethereum ecosystem tokens — comprising Bitcoin Cash (BCH), Bitcoin (BTC), Dogecoin (DOGE) and Zcash (ZEC) — account for less than 10 percent of…

Although Touted for Security, Blockchain Is Still Hackable

MIT Technology Review magazine has published an article today, Feb. 19, arguing that security-touted blockchain tech is still vulnerable to hacks. The magazine is fully owned by the United States Massachusetts Institute of Technology (MIT). In the recent article, the MIT Technology Review stressed that blockchain technology represents a complex economic system that depends on unpredictable human behavior. As such, the Review pointed out multiple security breaches that have been increasingly emerging in cryptocurrency and smart contract platforms since the inception of crypto, citing a number of incidents including the…

Japan’s Central Bank Examines Central Bank Digital Currencies in New Report

Japan’s central bank has examined the role of central bank digital currencies (CBDCs) in the current monetary system in a report released on Feb. 19. In the document, the bank describes the possible ways to implement a CBDC and the hypothetical consequences of different approaches. The report divides possible CBDCs in two categories, the first being those accessible to the general public in a form like banknotes, and the other as those limited for large-value settlements. The source of this categorization is attributed to the report released by the Bank…

Staking Coins for Gains Potentially a Good Strategy in a Bear Market but Is Not Without Risk

Volatility coupled with one of the longest bear markets ever experienced by the cryptocurrency industry have compelled many investors to consider staking as a method of “playing it safe,” according to a Bloomberg article. Staking, which is similar to earning dividends or interest on your investment, is not a new concept. However, in a long bear market, it does become more prevalent among cryptocurrency investors, as possible gains from regular trading are not as fruitful. As Kyle Samani, managing partner at Multicoin Capital Management, stated to Bloomberg: “Regardless of market…