'Shockingly lax' Binance again accused of money laundering ...

A new Nano trade exchange was launched a couple of days ago - Here's why anyone who remembers Bitgrail should be be very afraid

This is mostly a duplicate of my summarised responses to that exchange's original announcement threads here and in /nanotrade**.**
The owners of that new exchange are welcome to downvote this new posting of mine, but everyone else can make their own decision about whether to upvote this for posterity's benefit, so that my post gets found in months to come (given that Reddit's search engine is really bad at searching comments.)

Here's what's dodgy about this exchange, and why anyone who remembers BitGrail should be very afraid:
I emphasise that I'm not saying this is a scam. But I am saying it looks like what a scam website would look like and appears to be operating illegally under UK law:

* The domain NanoTrade.co.uk was registered only two days (one working day) before the site went live - meaning it only could have been tested very briefly, (Edit: and could not have been secured against accidentally being taken by another person, which implies incredible lack of planning)
* The domain was registered by NameCheap, with an obscured registrant
* The site was not pre-announced on /Nano Currency nor /NanoTrade
* The site was announced first on /nanotrade (6k subscribers), but only announced here on /nanocurrency (44k subscribers) three days later, demonstrating a lack of knowledge of Nano relative subscribers
* The announcer Paradise2GE claimed Google and Facebook Ads existed prelaunch - but no one of you here saw them because you would have excitedly told us if you had
* No such advertising for the site was noted by me, yet I would have been a key target for it
* Since the domain was not registered, such advertising could not have included, say, a [[email protected]](mailto:[email protected]) mail form, which is incompetent in itself
* Nano Associates Limited was registered with Companies House on 2018-02-28 (as company number 11229688) - to a London mail-forwarding company's central London address (a postcode with 11,000 companies registered at the same address)
* Its sole Director 'Orlando Carugo' has no Google history of being associated with Nano, Cryptocurrency, or finance at all
* Orlando Carugo's profession is listed as 'Sales Director'
* The Google and LinkedIn history of an UK-based 'Orlando Carugo' (a sales professional) can be found, with no reference to cryptocurrency but with references to being willing to work for stock options or commission
* The announcement on /NanoTrade was made by Paradise2GE - an account with a few questions on Bitcoin two years ago, a single comment one year ago, then absolutely nothing until this weekend.
* We know nothing of the overall reputation of the company owners
* The company uses a payment processor https://en.bitcoin.it/wiki/VirWoX which has a daily limit on PayPal withdrawals of 2500EUR. The NanoTrade website however states that up to 90,000 Nano can be sold per PayPal transaction. It seems impossible to reconcile this for me. If 90,000 Nano is sold to PayPal, when would the seller get their money?
* If the answer is that such payments cannot be made, when were the company planning to tell the sellers?
* On being asked on /Nanotrade, Paradise2GE has avoided answering this question in their dissembling answers
* The company is not registered by the FCA
* The company is not registered by HMRC as a money service
* It is a legal requirement for UK based companies to register as money services.
* It is not a get-out to just deal in USD and not GDP, yet Patadise2GE has attempted to use that get-out in their answers
* Paradise2GE has dissembled when answering questions as to why Nano Associates is not registered with FCA or HMRC
* Paradise2GE claimed 1000 trades on their first day... for an unannounced site...purely from a posting that had around 40 up votes at the time. It's a lie. Not even Nanex gets that many trades on a good day.
* Given a supposed 1000 trades in a day, 1440 minutes in a day, and 25% of Nano staked on Binance, we should expect to see >5Nano transactions coming out of the Binance hot wallet at least every 10 minutes or so. I don't see those
* The site works poorly on Android, showing a lack of technical skill in its developers
* The announcement of the exchange on /nanocurrency was by SMcArthurs - a one year old account, with very few postings, and no history in the /nanocurrency or /nanotrade subs
* Someone downvoted my reasonable questions on /nanotrade. I can think of only one person who would want to do that, if malicious
* Someone downvoted someone thanking me for my questions on /nanotrade. I can think of only one person who would want to do that, if malicious
* User astricali has posted at 2018-12-03 05:00GMT that they made a successful sale of 999.99 Nano. I performed a text extraction of the posted image address, which they were apparently instructed to send to, but I notice that although that address indeed Received a 999.99 amount from the Binance Representative at 2018-12-04 02:17:01 (Timezone unknown), the address has never actually Pocketed 999.99 Nano - the payment is still Pending.This is odd, since once might expect an efficient provider to pocket the Nano they receive asap, to sell it on the markets
* The address has however received a range of 8 payments ranging from 1.99 Nano to 1,847.99 Nano. That surprises me, because I would expect a payment provider to use a unique address for each received payment.
* The address has only ever sent a payment once, to KuCoin, on an unknown date before 2018-07-25
* Paradise2GE and SMcArthurs have been extremely quiet in response to these complaints levelled against their site
* Edit: Why would they be selling Nano at 1.00 USD at the moment when Nano is on Binance at 0.94?
* Edit: Seeing 403 Forbidden error 2018-12-05 23:38GMT
* Edit: Don't even get me started on the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations Regulations 2017
* Edit: It's 12 days later - 18-Dec-2018. The 999 Nano still hasn't been pocketed at address. In 12 days neither promoter has denied that's it's their account. They are therefore probably incompetent even if non-malicious.
* Also noticed something I should have picked up before: That address is Represented by Nanowallet.io - which means it's probably an account created on Nanowallet.io. Any 'real' exchange would need, at the very minimum, to run it's own node so that it can be online 24/7 - and if so would most likely Represent itself. Specifically choosing Nanowallet.io as their Representative after installing a full node would be an odd decision, given that they could help decentralize.
'm at way over 22 red flags here. I hope I save someone.
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Investing in crypto is more like shareholding than using money. But where do crypto profits come from? Who are the CEOs and majority shareholders?

1 The majority of well-known cryptocurrency founders have criminal records and extreme views, many others are anonymous. They have preyed on retail investors to enrich themselves and encourage retail investors to promote extremist political views.

2 The founder of bitcoin was anonymous. What if that means he was an employee of a rogue regime, or a programmer for a terrorist group, or had a long list of criminal records? He or they would be amassing a fortune based on the fact that they had a head start in acquiring a large amount of cryptocurrency before the public had a chance.

3 A large majority of the cryptocurrency supply is owned by a small number of wallets with no known ownership. They could be a rogue regime, a terrorist group, child traffickers, a cartel, or all the above. In fact, we have quite a lot of evidence that the ‘all the above’ option is correct.

4 Cryptocurrencies do not meet the definition of money, they function more like shareholding in a network that derives revenue and profit from speculation, money laundering, terrorist financing, drug sales, child sex trafficking, ransomware, bribery, and financial fraud on exchanges.

5 The market prices are clearly artificially boosted with unbacked Tether (a token that is alleged to be backed by US dollars but is unaudited), fake volume and encourages investors to gamble with credit. This means the game is rigged to create Minsky Moments at regular intervals, roughly every 12-15 months, which wipes out retail investors and concentrates more wealth into fewer hands.

6 A portion of every bitcoin transaction goes into the pockets of the Chinese regime who control most of the hash power in cryptocurrency mining. Retail investors outside China should not be paying a transaction tax to that regime. It is also highly likely that mining company Bitmain and cryptocurrency exchanges like Binance are fronts for fund raising for the Chinese regime, its authoritarian figures, and its electronic warfare departments.

7 Reporters such as the website Bellingcat have shown us wallets belonging to known terrorists, Neo-Nazis and Russian intelligence. Retail investors should not be making these parties wealthier. We should not be financing those who kill and oppress people.

8 All the cryptos put together added two whole countries worth of carbon footprint to the planet in the last decade and rising. We are hitting record temperatures and this level of global warming is a threat to us all. This must not be encouraged. Our legacy financial system is much more energy efficient and improving at a much faster rate. The decentralized nature of cryptocurrencies make them inherently inefficient, slower and power hungry.
submitted by PatrickBitmain to BitcoinIsFreedom [link] [comments]

Daily analysis of cryptocurrencies 20190911(Market index 38 — Fear state)

Daily analysis of cryptocurrencies 20190911(Market index 38 — Fear state)

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The Japan Financial Services Agency held the second round of the Encrypted Assets Roundtable, calling Libra the “alarm clock” According to the official website of the Japan Financial Services Agency on September 9, the Japanese Financial Agency revealed today that the agency had held the second round table on encrypted assets in Tokyo on September 6. The meeting brought together relevant financial regulators and international organizations to discuss and exchange experiences on the latest developments in cryptographic assets, including stable currency. The conference consisted of four main topics, namely: 1. The latest technological developments and challenges of cryptographic assets; 2. Supervision of crypto-equity trading platforms; 3. Investor protection and market integrity; 4. Participation of multiple stakeholders global cooperation. It is reported that the meeting is an invitation system and is not open to the public. At the meeting, the Japanese Finance Agency’s international deputy, Iwami, made an opening speech, saying: “Libra is like a ‘sounding alarm clock’ to all of us. The alarm bell has been ringing, which requires regulators and central bank officials to expand. Eyes, face up to the problem to face sooner or later. Many other clocks may be waiting for the next time.”
US Deputy Treasury Secretary: Libra will accept US anti-money laundering review On the 11th, Sigal Mandelker, deputy secretary of the US Treasury for terrorism and financial intelligence, warned on Tuesday that Libra, the proposed cryptocurrency of Facebook (FB.O), must comply with US anti-money laundering standards in order to survive, even if its headquarters is in Switzerland. Mandelker said: “What we have pointed out to them many times is that they must deploy appropriate anti-money laundering and sanctions programs to combat terrorist financing. I think they are still at a very early stage of thinking about how to meet these requirements.”
Indian parliamentarian: cryptocurrency is more complicated than the Internet in the early stages of development Indian Congressman Rajeev Chandrasekhar said in an interview that cryptocurrency is much more complicated in the early stages of its development than the Internet. The growth and innovation momentum of encryption technology is almost like a perfect storm. Speaking of India’s position on managing encryption for the public, he cautioned that the Supreme Court has ruled that privacy is a fundamental right for all Indians. In addition, he added, there is currently no legislative and legal framework for innovation to allow people to collect data from consumers and to allow consumers to agree. He deliberately confused encryption and privacy because it currently does not have a policy framework.

Encrypted project calendar(September 12, 2019)

BNB/Binance Coin: Coin Security will stop providing services to US users on Binance.com on September 12th BCN/Bytecoin: Bytecoin (BCN) will release Copper v3.6.0 on September 12t HBT/Hubii Network: Hubii Network (HBT) hubii’s “Blockchain in Practice” campaign with Microsoft will be held on September 12th at the Microsoft office in Oslo. ETC/Ethereum Classic: ETC or will perform Atlantis hard fork on September 12th

Encrypted project calendar(September 13, 2019)

VET/Vechain: VeChain (VET) VeChain CEO Sunny Lu will deliver a speech at the Public Blockchain Symposium on September 13th. WABI/Tael: The Tael (WABI) project team will release the new Tael website on September 13.

Encrypted project calendar(September 14, 2019)

BTC/Bitcoin: The European Union will launch its name, Payment Services Directive 2 (PSD2), which will take effect on September 14. The new law includes banks implementing “strong customer certification”. In addition, according to previous news, PSD2 can obtain some of the functions of the banking industry, providing new payment solutions for encryption products. BNB/Binance Coin: Binance Coin (BNB) Coin’s overseas team will hold its first community gathering in Jakarta, Indonesia on September 14. OKB/OKB: OKB (OKB) OKEx Africa will hold a party in Accra, Ghana, on September 14th, and the first African blockchain project supported by OKEx will be released.

Encrypted project calendar(September 15, 2019)

TRX/TRON: Wave field TRON launches side chain plan Sun Network network three-phase release WAN/Wanchain: Wanchain (WAN) will hold a 3Q community conference call in mid-September AE/Aeternity: Aeternity (AE) æternity is expected to carry out the Lima hard fork upgrade on September 15th, and the third Ethernet AE token migration hard fork will take effect. NANO/Nano: Nano (NANO) NANO founder Colin LeMahieu will attend an informal community gathering in Austin, Texas on September 15th.

Encrypted project calendar(September 16, 2019)

LINK/ChainLink: Chainlink (LINK) Oracle will host the Oracle Code One conference from September 16th to September 19th, at which it will announce the launch of 50 startups with Chainlink. MANA/Decentraland: The Decentraland (MANA) community will host the SDK hackathon on September 16. WABI/Tael: Tael (WABI) “Tael Insider” campaign will be held on the new project website on September 16.

Encrypted project calendar(September 17, 2019)

ZEN/Horizen: The official team of Horizen (ZEN) will hold a community gathering in Strasbourg, France on September 17th.

Encrypted project calendar(September 18, 2019)

OKB/OKB: OKB (OKB) On September 18th, OKEx will hold an institutional meeting in London to share the regulatory environment issues facing encryption organizations.

Encrypted project calendar(September 19, 2019)

NRG/Energi: Energi (NRG) Energi will launch a trading competition on the KuCoin platform on September 9th. By September 19th, 800 NRG will be presented to the top 470 participants. ADA/Cardano: The Cardano (ADA) project official will host the Wyoming hackathon from September 19th to 22nd. KIN/Kin: The Kin (KIN) project team will host a community gathering in Toronto on September 19. BTC/Bitcoin: The 2019 Open Core Summit will be held in San Francisco from September 19th to 20th.

Encrypted project calendar(September 20, 2019)

NULS / NULS: The NULS 2.0 Beta hackathon will be held from September 20th to September 21st, 2019. AE/Aeternity: Aeternity (AE) will hold “Cosmos One” conference in Prague, Czech Republic on September 20th

Encrypted project calendar(September 21, 2019)

BTC/Bitcoin: The 6th FINWISE Global Summit Macau will be held from September 21st to 22nd. Distributed Financial Technology (DeFi) is the main topic of this conference. OKB/OKB: OKB (OKB) OKEx The Africa Cryptour series of talks in Kenya will take place on September 21 in Nairobi.

Encrypted project calendar(September 23, 2019)

BTC/Bitcoin: Bakkt, the digital asset platform led by ICE, the parent company of the New York Stock Exchange and the world’s second largest trading group, will launch a bitcoin physical delivery futures contract on September 23. EOS/EOS: EOS main network is expected to upgrade version 1.8 on September 23

Encrypted project calendar(September 24, 2019)

ENG/Enigma: Enigma (ENG) ENG main network token snapshot will end on September 24, the original start time is August 26.

Encrypted project calendar(September 26, 2019)

ADA/Cardano: The Cardano (ADA) Cardano community will host a party in Washington, DC on September 26.

Bitcoin price is slowly declining and recently broke the $10,000 support area against the US Dollar. The price is facing an uphill task and it might continue to struggle near $10,250 and $10,300. There is a major bearish trend line forming with resistance near $10,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could continue to slide as long as it is trading below the $10,400 pivot level in the near term. Bitcoin price is under pressure below $10,250 against the US Dollar. BTC may perhaps accelerate decline as long as there is no close above the $10,400 and $10,500 levels.
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Daily analysis of cryptocurrencies 20190830(Market index 24 — Extreme Fear state)

Daily analysis of cryptocurrencies 20190830(Market index 24 — Extreme Fear state)

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[UN official: Cryptocurrency makes policing child slavery more difficult] A top United Nations official says cryptocurrencies have made it significantly more difficult to fight child slavery, cyber crime, terror financing and money laundering, according to a report by news website ABC on August 29. Neil Walsh, chief of the Cybercrime and AML section of UN’s Office on Drugs and Crime, noted that the anonymous attribute of cryptocurrencies provide a new layer of secrecy to favor these criminals.
[Indian black money special investigation team: the government does not need to supervise the cryptocurrency, the single choice is the only choice] The Indian Black Money Special Investigation Group (SIT) informed the government that criminal gang networks are increasingly relying on cryptocurrencies for money laundering and drug smuggling. It also believes that it is not necessary to supervise cryptocurrencies, because it takes years and inefficiencies to deal with such cases, and a one-size-fits-all approach seems to be the only option. Although the country does not fully ban cryptocurrency transactions, the government has instructed all relevant agencies and law enforcement agencies such as the Reserve Bank of India (RBI), the Law Enforcement Agency (ED) and the income tax department to take action in accordance with existing laws. In the absence of a globally acceptable solution, the government is handling this matter with caution. SIT does not support regulation because it takes a long time to prosecute violations in the country: “We have many laws or regulations that need to be strictly enforced. But experience shows that many law or regulatory enforcement agencies cannot enforce them. Even if they try to enforce them, As a result, many litigations remain pending for many years. In order to avoid this, there is no choice but to declare it an illegal transaction. Those dealing with cryptocurrencies should be punished without any further evidence.”
[Terrorist organizations are using social media platforms such as Telegram to raise money through cryptocurrencies] According to a report by the Middle East Media Research Institute (MEMRI), a non-profit research institute, terrorist organizations in areas such as Islam and Hamas are using social media platforms, including Telegram, to raise funds through cryptocurrencies. MEMRI warned that this problem will only be more serious when Telegram launches its own blockchain TON and local cryptocurrency Gram.

Encrypted project calendar(August 30, 2019)

XDCE/XinFin Network: 2019 TraceFinancial webinar will be held on August 30th WAX/WAX Token: WAX TokenSwap (WAX) to August 30, ERC-20 WAX Token token converted to WAX Token Cutoff UGAS/Ultrain: Ultrain community news, after the main network mapping starts on August 7, all UGAS holders must complete the registration of the Ultrain main wallet account by August 30th.

Encrypted project calendar(August 31, 2019)

ADX/AdEx: ADEX (ADX) will release the Validator Stack version 2.0 in August DADI/DADI: DADI will release the network CLI on August 31, with Stargates to support network services; and release Self Onboarding on the same day to allow the network to be more open. MITH/Mithril: The Mithril (MITH) team decided to implement the first MITH token destruction program on August 31. COS/Contentos: Contentos test network v0.5 “Jupiter” will be launched on August 31, this is the last version of the test before the main online line, alternate release. NOAH/Noah Coin: Noah Coin (NOAH) exchanges the held tokens at BTCNext, ending on August 31st.

Encrypted project calendar(September 01, 2019)

XLM/Stellar: Stellar (XLM) will conduct equity awards in binance on September 1st MHC/MetaHash: MetaHash (MHC) will close all ICO accounts as of September 1 and will permanently close all ICO accounts. All MHCs will need to be transferred to MetaGate Wallet by this date. DGD/DigixDAO: The DigixDAO (DGD) DGXHUB community representative program will be open for application on September 1.

Encrypted project calendar(September 02, 2019)

AE/Aeternity: The third phase of Aeternity token (AE) main network migration will end on September 2nd. PLPillar: The Pillar (PLR) Pillar community will participate in a creative strategy seminar hosted by experiencehaus in London, UK on September 2nd. LA/LAToken: The LAToken (LA) LATOKEN community will host an investor reception in London, England on September 2nd.

Encrypted project calendar(September 03, 2019)

WAN/Wanchain: Wanwei Chain Wanchain (WAN) will be launched on September 3rd based on POS mechanism mining function

Encrypted project calendar(September 04, 2019)

BCH/Bitcoin Cash: The City Conference will be held in North Queensland, Australia from September 4th to 5th, 2019. BETHEBethereum: Bethereum will conduct a user airdrop token plan on September 4th

Encrypted project calendar(September 05, 2019)

CS/Credits: Credits (cs) began to map some of the main network tokens on September 5th. ENG/Enigma: The Enigma(ENG)Enigma community will host a gathering and seminar in Boston on September 5. BTC/Bitcoin: Blockchain Africa conference organizers will host the first cryptocurrency festival in South Africa on September 5. AGI/SingularityNET: SingularityNET (AGI) SingularityNET community Ben Goertzel will attend the Asia Innovation Summit on September 5th and will deliver a speech.

Encrypted project calendar(September 06, 2019)

BTC/Bitcoin: Bakkt official Twitter said that Bakkt Warehouse will begin to provide Bitcoin secure storage services to customers on September 6. VEX/Vexanium: The Vexanium (VEX) DApps competition will end on September 6th with a total of 1.1 million VEX awards, the first of which will receive 350,000 VEX.

Encrypted project calendar(September 20, 2019)

NULS / NULS: The NULS 2.0 Beta hackathon will be held from September 20th to September 21st, 2019.


BTC continued its downward trend from yesterday to today, slightly rebounded after falling below $9,400, and is currently hovering around $9,500. In the past 24 hours, the net inflows of BTC funds exceeded US$150 million, which increased significantly compared with the previous cycle. After falling below the $9,800 support area yesterday, BTC continued to fall below $9,500. Yesterday, the rally stopped near $9350, but the rally was obviously insufficient in scope and quantity. The bulls’strength was weak. The opening of the Daily Brin Channel was downward, and there was still the possibility of further declines in the follow-up. Operational aspects, temporary patience, there are short positions above can continue to hold or partial stop earnings, near $9100 can consider gradual admission.
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Daily analysis of cryptocurrencies 20190826 (market index 41 — fear state)

Daily analysis of cryptocurrencies 20190826 (market index 41 — fear state)

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Swiss Financial Markets Authority: Blockchain-based business model should not bypass existing regulatory frameworksThe Swiss Financial Market Regulatory Authority (FINMA) announced today a guide to regulatory requirements for blockchain payments for financial services providers. The Virtual Asset Service Provider (VASP) guidelines cover blockchain service providers, such as exchanges, wallet providers, and trading platforms, and require existing anti-money laundering rules to apply to such service providers as well. FINMA pointed out that blockchain-based business models are not allowed to bypass existing regulatory frameworks, which is particularly applicable to the regulation of money laundering and terrorist financing.
Digital currency is coming soon, or it will give birth to bitcoin big bull marketMu Changchun, deputy director of the Paying Division of the People’s Bank of China, delivered a speech at the 3rd China Financial 40th Yichun Forum, saying that the central bank’s digital currency (CBDC) is on the horizon. This move is seen as a manifestation of China’s initiative to respond to the Libra challenge. The introduction of the central bank’s digital currency may give birth to a bitcoin big bull market. Through the realization of the central bank’s digital currency, it can be guessed that the central bank is likely to design the lowest level of technical standards, such as the most core encryption algorithms and public and private key systems, and then each bank or operating agency design features at the lowest level of the architecture. Rich wallet and other application forms. If the final central bank digital currency adopts a block-chain public-private key system, it is undoubtedly a major positive for the cryptocurrency market.
Financial Times: Blockchain technology can improve risk management and control capabilities in the commercial factoring industryThe Financial Times today issued a document “Business Factoring Steps into Adjusting the Peak Period, Science and Technology Helps Consolidate Wind Control.” According to the article, with the development of technologies such as big data and cloud computing, the penetration rate of technology into the financial industry is increasing day by day, especially in the areas of risk prevention and control and anti-fraud. The business factoring industry is no exception. At present, the cross-border integration of financial technology and commercial factoring is becoming more and more in-depth. More and more commercial factoring companies are applying new technologies such as big data and blockchain to improve their risk management and control capabilities. Blockchain technology addresses industry core data breaches. In addition, the blockchain has the characteristics that the data cannot be falsified. In the factoring business, a set of processes of financing, credit risk management, accounts receivable management and collection services are written on the blockchain, which can enable financial institutions and factoring. The company tracks its data and the flow of funds throughout the chain, which in turn significantly reduces risk.
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Encrypted project calendar(August 26, 2019)

ICX/ICON: ICON(ICX)ICONists will vote for P-Reps and receive ICX awards starting August 26. MBL/Moviebloc: MovieBloc will share details about the MovieBloc service and wallet features in MovieBloc Service Preview 2 on August 26th. ETHOS/ETHOS Token: ETHOS Token (ETHOS) BitMart The first ETHOS Token Trading Contest will be closed on August 26, and participating users can divide 50,000 ETHOS.

Encrypted project calendar(August 27, 2019)

MAID/MaidSafeCoin: MaidSafeCoin Internet Coin (MAID) will host the 2019 Turing Festival in Edinburgh from August 27th to 29th. SC/Siacoin: Siacoin (SC) Pluralsight LIVE was held in Salt Lake City from August 27th to 29th, 2019.

Encrypted project calendar(August 28, 2019)

NULS/NULS: The NULS 2.0 Beta hackathon will be held from July 8th to August 28th, 2019. ZLA/Zilla: ZILLA (ZLA)’s complimentary $3,500 GD Token event will end on August 28.

Encrypted project calendar(August 29, 2019)

ICX/ICON: ICON(ICX)ICON will meet with HPB_Global in Korea on August 29th, and Asian Market Business Director Daniel Kwak will deliver a speech and will answer questions with participants. TYPE/Typerium: A 100-day countdown from Typerium will end on August 29th, and the project officially calls SecondComing. ONE/Harmony: The first phase of the Pangea project launched by Harmony is over, and the second phase will begin on August 29. KICK/KickCoin: KickCoin will be exchanged for KickToken for an exchange time of August 29, which will receive nearly 150% of the reward.

Encrypted project calendar(August 30, 2019)

XDCE/XinFin Network: 2019 TraceFinancial webinar will be held on August 30th WAX/WAX Token: WAX TokenSwap (WAX) to August 30, ERC-20 WAX Token token converted to WAX Token Cutoff UGAS/Ultrain: Ultrain community news, after the main network mapping starts on August 7, all UGAS holders must complete the registration of the Ultrain main wallet account by August 30th.

Encrypted project calendar(August 31, 2019)

ADX/AdEx: ADEX (ADX) will release the Validator Stack version 2.0 in August DADI/DADI: DADI will release the network CLI on August 31, with Stargates to support network services; and release Self Onboarding on the same day to allow the network to be more open. MITH/Mithril: The Mithril (MITH) team decided to implement the first MITH token destruction program on August 31. COS/Contentos: Contentos test network v0.5 “Jupiter” will be launched on August 31, this is the last version of the test before the main online line, alternate release.

Encrypted project calendar(September 01, 2019)

XLM/Stellar: Stellar (XLM) will conduct equity awards in binance on September 1st

Encrypted project calendar(September 02, 2019)

AE/Aeternity: The third phase of Aeternity token (AE) main network migration will end on September 2nd
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BTC is currently reporting $10,360, an increase of 2.89% during the day. In response to the current trend, today’s BTC hour line breaks through the daily high point and the second highest point to extend the line quickly, and it is easy to form a triangle convergence behind the big Yang line. The end of the convergence will re-select the direction and will be gradually applied to Fibonacci’s 61.8% or 10174 pressure line. The position that the BTC will return to in the future is 10174. At the same time, considering that the daily line level has reached 4 times near the 9900 under the box, Bitcoin has a higher probability of a new low point reaching below $9,900. Observed from the wave structure, after the emergence of the high point 13968, the ABC wave has already fallen out of the daily trend. The current sideways volatility is in the 2 wave rebound range of the 5 wave falling in the C wave wave shape. The third wave of declines on the level 5 wave will generally fall beyond the 1 wave. At present, the observation of 1 wave has fallen by more than 2000 points, so the magnitude of the 3 waves may exceed this range. Therefore, Bitcoin still has the possibility of reaching around 8500 points.
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Atomic Wallet; Let's Get Bitcoin with Our Credit Card!

Atomic Wallet; Let's Get Bitcoin with Our Credit Card!
https://preview.redd.it/nck9d9uw0lx21.png?width=640&format=png&auto=webp&s=8894783d1823779bafce7284d16d89190dcd362e
Hello Everyone! I feel so lucky today. I finally discovered a wallet that understands me. And I understand Atomic too.
Atomic wallet; do not look at the words "user-friendly" in quotation marks. I put it in quotes to get your attention. Atomic wallet is a gorgeous wallet design. I want to write this definition for Atomic wallet with both dark and big letters.

User-Friendly.

You may think I'm exaggerating, but those who have met Atomic wallet before are understanding and smiling.
Let me tell you my story from the beginning. When I first met blockchain technology, I was dazzled by what extraordinary technology could do. I was very impressed with revolutionary innovations such as P2P, distributed ledger technology, artificial intelligence algorithms, smart contracts, Internet of Things (IoT) and Big Data. I believe that digital money is our future, like everyone else affected by blockchain technology. I also wanted to buy crypto-money and be a crypto-money investor. Then don't ask — a real disappointment. As a user of crypto living in Turkey, it is almost impossible to buy crypto-money from one of the well-known Turkish sites with your debit card. It was also a nightmare to buy, and trade any digital currency with your traditional lira.
📷
https://preview.redd.it/4kynmkyozkx21.jpg?width=276&format=pjpg&auto=webp&s=44182dbae6c05c81ab86f9ab1b496b7d258be2f0
There were many blockchains such as Bitcoin, Ethereum, EOS, and Stellar. Many projects were launched every day. Almost every project opened its wallet. It was hard to go to the stock markets to trade with these coins and tokens, to make crypto-money that I wanted to save, to keep tens of public and private keys of the wallets. It was supposed to be a computer programmer, not a computer user. This is my complaint about the difficulty of handling and the complexity of the process. Besides, many stock markets don't give you your private key. You deliver all your personal information and the private key of your wallet to the stock exchange authorities. Hacking events or the negligence of the stock market workers can cause you to suffer a lot of damage at a time. Central stock markets are spooky. Finally, the commissions they receive during the transaction will cause you to get 20% more expensive each coin.
I'm sure those of you who haven't studied computer technology like me have understood me. I can write a book enough to tell me what happened to a coin I want to invest in. But it's not what I want to say to you. I want to talk about Atomic wallet, the one I just met today, who saved me from these troubles. Today I want to write a few words for the atomic wallet I encountered while researching to buy bitcoin. I'il tell you about the bitcoin purchase experience I've been through.
📷
https://preview.redd.it/huplw4ru0lx21.png?width=640&format=png&auto=webp&s=11e8888a69effb3295b778bd843d213640e6986a

WHY DID I CHOOSE ATOMIC WALLET?

First of all, it's a non-centralized wallet. It's crucial for security. A stock market supports up to (more than 300) coins. It only opens with the password you know. And private key is yours. Atomic wallet; wallet, stock market, and exchange platform. It has an excellent user-friendly interface (I'll show you the screen outputs at the bottom), not just the desktop, but also the mobile application options if you want to. Before further ado, I'll show you a short video that teaches me how to get Bitcoin. I have done the process efficiently with what is said in the video. Once you watch, You will not make mistakes in the process, and your fear will disappear, I promise.
https://youtu.be/V9Igzp9K37k

Now I'd like to share with you the adventure of getting Bitcoin with Atomic wallet. Should we start by downloading atomic wallet first? You can download your friendly atomic friend to your computer by pressing hereI start by opening my Atomic wallet on the desktop.
📷
https://preview.redd.it/jfhu2pbq0lx21.png?width=640&format=png&auto=webp&s=9d1f7e73547f8ee256d86a7e0db1a8ccb7d2f598
On this page, you can easily open your wallet with your password. With all the ease and helpfulness of Atomic wallet:
📷
https://preview.redd.it/tzhi0svn0lx21.png?width=605&format=png&auto=webp&s=bc1b382cac38e9eb28714a3339803efc11fe1f5c
All you must do here is press the Buy crypto tab from the menu on the left. The following screen will appear to you.
📷
https://preview.redd.it/p1272r4m0lx21.png?width=605&format=png&auto=webp&s=4858c1b8f026bcac77f04c22a5c02dfd0fb5d0d9
If you examine the screen on the left, you write how much USD you want to invest for the bitcoin. I tried to buy a $ 100 bitcoin. On this screen, I want to tell you about the Simplex platform, which you will see in the bottom left. Simplex, a strategic partner of atomic wallet, is an EU licensed card processing company.
📷
https://preview.redd.it/rxw4il7k0lx21.png?width=605&format=png&auto=webp&s=0f7b6a84baa31b9de86195e9edb221e73baa6281
When you want to get bitcoin, you need to introduce yourself to the system and provide your billing information when you are trading for the first time. After submitting your e-mail and phone number to Simplex, you will be presented with the payment screen.
📷
https://preview.redd.it/jgakxysb0lx21.png?width=605&format=png&auto=webp&s=f0342facc7d1d5e931b1746330da405f2236da4b
After this screen, you need to do KYC to protect yourself from illegal activities such as dirty money or terrorist financing. You only do this once, and then the system recognizes you. Do you worry about giving your data and bank card information here? Let me immediately explain that simplex works with an EU license and your personal data are secured.
📷
https://preview.redd.it/r65widve0lx21.png?width=640&format=png&auto=webp&s=556b55b40f14cb47f2da13a72952967e8c49bba4
It's that easy. No money transfer to exchange sites through banks. Don't buy bitcoin with high commissions on the stock market. Then don't move those Bitcoins paying the transfer fee back to their wallet. And with more than 300 coins and tokens, we have it now. The stock market is waiting for us in our digital wallet. The transaction fee is only 2%.

Summarize:

I'm not making investment recommendations for this project. However, I would recommend that you use our atomic friend. Atomic on the Binance DeX stock market. Whether Atomic Wallet's the iOS or Android app for your phone, or the desktop app, you can always experience the atomic wallet. You will understand that you have encountered one of the most robust projects.
Written By: N.ipek Celik
naz14: 0x3b19a4a034fd3687ba803a18f677927893dfeff
1.Note: As soon as you start trading in your wallet, there's an online help box that offers help from the bottom right corner of your screen, which is very comforting.
2.Note: I am adding links to guide you to download the wallet below and purchase the most preferred coins. I wish you all plenty of earnings.

Useful Links:

Atomic Wallet: https://atomicwallet.io
Buy Bitcoin - https://atomicwallet.io/buy-bitcoin
Buy Litecoin - https://atomicwallet.io/buy-litecoin
Buy Ethereum - https://atomicwallet.io/buy-ethereum
Buy Ripple - https://atomicwallet.io/buy-ripple
Buy Bitcoin Cash - https://atomicwallet.io/buy-bitcoin-cash
submitted by ipek1435 to ICOAnalysis [link] [comments]

Cryptocurrency and Blockchain – Industry News – (07.05.19 – 07.12.19)

Total Market Cap, as of 07.12.19 at 12:00pm (PST): U.S. $320,641,857,854 (+ 0.47%)

Missed last week’s update? Click here

STORY OF THE WEEK

• Japanese cryptocurrency exchange Bitpoint has suspended services due to a 3.5 billion-yen (U.S. $32 million) hack on its hot wallets. Of the 3.5 billion yen, 2.5 billion were customer funds.

CRYPTOCURRENCY TRADING SERVICES

KuCoin launches KuMEX, a platform offering bitcoin derivatives (perpetual contracts) with leverage up to 20x.
Shapeshift launches custodial platform to allow users to trade crypto whilst having full custody of his/her own private keys.
• On July 8th, 2019, Polish crypto exchange BitMarket abruptly shuts down citing liquidity issues.
Binance lowers ethereum and erc-20 block confirmations down from 30 to 12 for deposits and withdrawals to and from the platform. Bitcoin transactions are down from 2 to 1.
Poloniex launches fiat-to-crypto trading and credit card purchases for crypto.
Binance launches margin trading for Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), XRP, Tether (USDT), and Tron (TRX). The platform will initially support up to 3x leverage, with the intention to eventually offer up to 20x leverage.

REGULATION

India’s Ministry of Home Affairs to offer specialized trading sessions dubbed “Investigation of Cases Involving Cryptocurrencies” to help law enforcement combat cryptocurrency related scams.
The Inland Revenue Authority of Singapore (IRAS) proposes a Goods and Sales Tax (GST) exemption scheduled to go into effect on January 1st, 2020 for cryptocurrencies that are designed as a medium of exchange.
Blockstack becomes the first to receive approval from the U.S. Securities and Exchange Commission (SEC) to move forward with its token offering under a Reg A+ listing.
• Amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act of Canada require Canadian and foreign platforms dealing with cryptocurrency to implement full-scale compliance procedures and to report all deposits and withdrawals that are CA $10,000 or more.

TECHNOLOGY

Samsung releases an ethereum software development kit (SDK) for android developers. The kit provides tools to make it easier to build decentralized applications and the ability to leverage a payment gateway for cryptocurrency remittances.

INSTITUTIONALIZATION

• No significant developments this week pertaining to institutional players in the space

PEOPLE

Fidelity Digital Assets updates its hiring board to onboard 10 blockchain based job positions. Specifically, the firm is looking for a vice president, director, leading software engineer, blockchain software engineer, product designer and various other roles.
Bitstamp hires ex. Gemini compliance executive Caitlin Barnett to serve as its new U.S. Chief Compliance Officer.

TWITTER

@realDonaldTrump– “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....”
@jespow – “If you study crypto, you will find much to agree with. Crypto is about personal responsibility and choice. It is about free markets and competition. It is about mathematical, verifiable, perfectly enforceable regulation. Crypto is to commerce what Twitter is to speech: democracy.”
@APompliano – “It’s a store of value” — Jerome Powell, Chairman of the Federal Reserve talking to the Senate Banking Committee about Bitcoin THE VIRUS IS SPREADING 🔥”
submitted by Edmund_N to CryptoCurrency [link] [comments]

Cryptocurrency and Blockchain – Industry News – (07.05.19 – 07.12.19)

Total Market Cap, as of 07.12.19 at 12:00pm (PST): U.S. $320,641,857,854 (+ 0.47%)

Missed last week’s update? Click here

STORY OF THE WEEK

• Japanese cryptocurrency exchange Bitpoint has suspended services due to a 3.5 billion-yen (U.S. $32 million) hack on its hot wallets. Of the 3.5 billion yen, 2.5 billion were customer funds.

CRYPTOCURRENCY TRADING SERVICES

KuCoin launches KuMEX, a platform offering bitcoin derivatives (perpetual contracts) with leverage up to 20x.
Shapeshift launches custodial platform to allow users to trade crypto whilst having full custody of his/her own private keys.
• On July 8th, 2019, Polish crypto exchange BitMarket abruptly shuts down citing liquidity issues.
Binance lowers ethereum and erc-20 block confirmations down from 30 to 12 for deposits and withdrawals to and from the platform. Bitcoin transactions are down from 2 to 1.
Poloniex launches fiat-to-crypto trading and credit card purchases for crypto.
Binance launches margin trading for Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), XRP, Tether (USDT), and Tron (TRX). The platform will initially support up to 3x leverage, with the intention to eventually offer up to 20x leverage.

REGULATION

India’s Ministry of Home Affairs to offer specialized trading sessions dubbed “Investigation of Cases Involving Cryptocurrencies” to help law enforcement combat cryptocurrency related scams.
The Inland Revenue Authority of Singapore (IRAS) proposes a Goods and Sales Tax (GST) exemption scheduled to go into effect on January 1st, 2020 for cryptocurrencies that are designed as a medium of exchange.
Blockstack becomes the first to receive approval from the U.S. Securities and Exchange Commission (SEC) to move forward with its token offering under a Reg A+ listing.
• Amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act of Canada require Canadian and foreign platforms dealing with cryptocurrency to implement full-scale compliance procedures and to report all deposits and withdrawals that are CA $10,000 or more.

TECHNOLOGY

Samsung releases an ethereum software development kit (SDK) for android developers. The kit provides tools to make it easier to build decentralized applications and the ability to leverage a payment gateway for cryptocurrency remittances.

INSTITUTIONALIZATION

• No significant developments this week pertaining to institutional players in the space

PEOPLE

Fidelity Digital Assets updates its hiring board to onboard 10 blockchain based job positions. Specifically, the firm is looking for a vice president, director, leading software engineer, blockchain software engineer, product designer and various other roles.
Bitstamp hires ex. Gemini compliance executive Caitlin Barnett to serve as its new U.S. Chief Compliance Officer.

TWITTER

@realDonaldTrump– “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....”
@jespow – “If you study crypto, you will find much to agree with. Crypto is about personal responsibility and choice. It is about free markets and competition. It is about mathematical, verifiable, perfectly enforceable regulation. Crypto is to commerce what Twitter is to speech: democracy.”
@APompliano – “It’s a store of value” — Jerome Powell, Chairman of the Federal Reserve talking to the Senate Banking Committee about Bitcoin THE VIRUS IS SPREADING
submitted by Edmund_N to CryptoMarkets [link] [comments]

In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018

Developments in Financial Services

Regulatory Environment

General News


submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

Cryptocurrency and Blockchain – Industry News – (05.31.19 – 06.07.19)

Total Market Cap, as of 06.07.19 at 12:00pm (PST): U.S. $259,854,481,500 (-2.87%)

Missed last week’s update? Click here

STORY OF THE WEEK

CRYPTOCURRENCY TRADING SERVICES

REGULATION

TECHNOLOGY

INSTITUTIONALIZATION

PEOPLE

TWITTER

submitted by Edmund_N to CryptoMarkets [link] [comments]

The Daily: Report Sees UK as Crypto Leader, Jersey Adopts ICO Rules

The Daily: Report Sees UK as Crypto Leader, Jersey Adopts ICO Rules
https://preview.redd.it/ak49rer34pa11.jpg?width=1600&format=pjpg&auto=webp&s=d7c412ffa547e29c635eed1d1400e86168bde968
The United Kingdom has what it takes to become a true leader in the crypto space, according to a new report covered in today’s Bitcoin in Brief. Also in The Daily, the British Crown dependency of Jersey has adopted new requirements for ICO projects to better protect participating investors, Malta now has a two-way bitcoin ATM, and Hong Kong has been promised thousands of crypto payment terminals.
Britain Set To Become Crypto Economy Leader, Report
The United Kingdom is in a good position to be a leader in the crypto economy and the implementation of blockchain technologies, according to a new report quoted by the British press. Britain has all the required resources, the authors claim, as well as industrial and governmental will to become a global hub for the technology by 2022. The analysis has been conducted by Big Innovation Centre, DAG Global and Deep Knowledge Analytics.
The gap between the traditional financial system and the crypto economy in the UK will close, DAG Global CEO Sean Kiernan believes. “The UK is a major global financial hub and in recent years has become a fintech leader as well. At the same time, it is starting to demonstrate significant potential to become a leader in blockchain technologies and the crypto economy,” he said, quoted by The Guardian.
The research, carried out in coordination with the parliamentary group on blockchain, has taken into consideration the £500m (~650 million) worth of investments into UK blockchain companies made in 2017–18 to conclude that the United Kingdom has the potential to become a world leader in the digital and crypto ecosystem within the next few years. “We are still at the early stages of the blockchain industry’s development and the huge impact it undoubtedly will have in Britain and globally,” said Birgitte Andersen, chief executive of Big Innovation Centre.
Jersey Introduces Requirements for ICO Projects
The Financial regulator of Jersey, one of the Channel Islands, has taken measures to protect investors participating in Initial Coin Offerings (ICOs). In a guidance note released this month, the Jersey Financial Services Commission (JFSC) provides basic definitions of cryptocurrencies, digital tokens, and token sales. It recognizes that their use “has risen dramatically” but also warns about the associated risks like high levels of price volatility, loss of funds through cyber-attacks, the high number of scams and pump-and-dump schemes.
Nevertheless, the JFSC states that most ICOs are unlikely to be regulated. Instead, the Commission places some conditions on the issuers of coins under the Island’s statutory instrument governing capital raising, the Control of Borrowing Order, noting for instance that a consent from the JFSC is required to establish a Jersey company. In granting such consent, regulators say, the JFSC may choose to impose certain conditions on the respective entity. Jersey-based ICO issuers are also required to be incorporated as a Jersey company and administered through a trust and company service provider licensed by the JFSC under the Financial Services Law.
The Commission classifies digital coins in two major categories — security and non-security tokens. The latter have been divided into “utility token” — “a usage right or the right to access a product or service”, and “cryptocurrency token […] designed to behave like a currency, being a store of value and medium of exchange.”
The document also lists a number of requirements that apply to ICO issuers and describes certain procedures and processes that should be followed in order to mitigate and manage the risks for retail investors. Companies are expected to apply anti-money laundering and counter-terrorist financing measures as well as inform investors about the risks.
In recent years, the British Crown dependency, situated off the French coast of Normandy, has attracted many startups from the crypto space. In the summer of 2015, the Government of Jersey released a consultation paper on cryptocurrencies, becoming one of the first jurisdiction in Europe to address the regulatory challenges in the fintech industry.

Malta Acquires Two-Way Crypto ATM

Malta, another crypto-friendly European destination, has reportedly acquired its first two-way automated teller machine exchanging cryptocurrency with fiat. Last week, a company called Moon Zebra launched the ATM located at the Quicklets offices, on Tower Road in Sliema. It operates Monday through Friday, 9 am — 6:30 pm.
The new BATM offers users the opportunity to buy and sell two cryptocurrencies, bitcoin (BTC) and litecoin (LTC). Moon Zebra claims this is the first device offering two-way transactions with cash. Another teller machine supporting purchases of cryptocurrency strangely disappeared last year. According to Coinatmradar, two other devices are also operational not far from Moon Zebra’s ATM, but both are buy only machines. One of them offers BTC, and the other supports BTC and LTC purchases.
The launch of the new BATM comes after the island nation took another step towards becoming one of the most crypto-friendly nations in Europe. Recently, the parliament in Valletta adopted three laws designed to introduce clear regulations for the country’s growing crypto industry. It’s been reportedthat the largest crypto exchange by trade volume, Binance, is considering a project to launch a “decentralized bank” in Malta. The favorable business climate has attracted other large crypto businesses to the island, including the Chinese exchange Okex and the Polish Bitbay.
Hong Kong Promised 5,500 Crypto POS Terminals
The Indonesian startup Pundi X is working to build a network of 5,500 POS terminals in Hong Kong supporting payments in a number of cryptocurrencies, the South China Morning Post reported. The devices will be able to connect not only to crypto wallets but also with other traditional payment methods like Visa, MasterCard, and Apple Pay.
According to Pundi X CEO, Zac Cheah, Hong Kong is the ideal place to test the payment network. His company has ambitious plans to introduce up to 100,000 crypto POS terminals in Southeast Asia by 2021. Recently, a chain of restaurants in Hong Kong installed crypto point-of-sale devices in partnership with the Indonesian startup. Pundi X claims that in the last six months 25,000 of its terminals have been ordered by businesses in Japan, Singapore, South Korea, and Switzerland.
Source
submitted by W12io to u/W12io [link] [comments]

Bermuda's Blockchain Strategy Goes Beyond Just Winning New Business

When it comes to regulating the blockchain industry, size really does matter.
Government size, that is, according to the Bermudian officials driving the island's regulatory efforts around the nascent technology.
"Small ships can turn quickly. That's the beauty of Bermuda," Premier David Burt told CoinDesk.
https://preview.redd.it/6ya4wx3i0uw01.jpg?width=2644&format=pjpg&auto=webp&s=614f8376e6bdacecf4fc3f04827efe7e70a8e114
Bermuda is one of several small territories and microstates striving to leverage their nimble governments to attract blockchain and crypto businesses by creating regulatory certainty where other, larger governments have failed to deliver thus far. Liechtenstein, Malta, Gibraltar and, most recently, San Marino have joined the race alongside Bermuda, all offering proposals - and in some cases formal legislation - that promise "comprehensive blockchain legislation."
Typically such schemes entail detailed guidance on how initial coin offering (ICO) tokens will be viewed; secondary market controls; investor and consumer protections; and anti-money laundering (AML), know your customer (KYC) and counter-terrorist financing (CTF) measures.
And to date, Bermuda's strategy has proved fruitful.
Since launching a blockchain task force in conjunction with the Bermuda Business Development Agency (BDA) in late 2017, the government has passed legislation on ICOs and created a regulatory sandbox for those companies, put forth a Digital Asset Business Act and partnered with BitFury to shift the island's property deeds system to the blockchain.
But most recently, and perhaps most notably, the U.K. territory inked a $15 million investment agreement with major crypto exchange Binance, demonstrating that the tiny island's blockchain push is attracting real industry heavyweights.
This result is one reason, Burt argues, that Bermuda stands apart from its peers.
"We have a very simple mantra in my government, and it's 'show, don't tell,'" Burt said.
But with the competition here fierce, Bermuda is attempting to diverge from other places luring crypto and blockchain startups by moving beyond regulation, and incorporating its blockchain aspirations into its own public policy agenda - including re-envisioning its youth education and immigration policies.
With this, Burt said:
"We believe over the last nine months that our government has shown that not only are we open for business, but we mean business."
The old with the new
Understanding Bermuda's blockchain strategy, and more importantly, what sets it apart also requires a historical view.
One feature which distinguishes the island from other aspiring hubs precedes the blockchain entirely - Bermuda's multi-billion dollar insurance and reinsurance industries which have "full regulatory equivalence" with both the U.S. and the EU.
The maturity of these industries means that there are existing robust investor protection measures and other pertinent rules that regulators have been able to build on to create the Digital Asset Business Act, explained Sean Moran, head of business development at the BDA.
"We've had to tweak them, of course, to make them appropriate and fit for purpose for this industry," Moran told CoinDesk, "but we have a model that we can work from that takes all of those protections and disclosures into account, and that's what we're working from."
The dominance of Bermuda's reinsurance and insurance industries has also resulted in a burgeoning compliance-oriented sector, which Burt envisions as a critical resource for the blockchain businesses he hopes to attract.
"If you cannot meet, match the Bermuda standards, if you cannot pass our high bar, then we don't want you," Burt said.
He explained that part of creating desirable regulatory conditions is implementing high compliance standards for companies that are made in consultation with industry players - like Binance, for example.
"That is squarely in our sweet spot," Wayne Caines, Bermuda's minister of national security, told CoinDesk.
More than a haiku
And that sweet spot will be especially beneficial for ICO issuers and the various stakeholders of that burgeoning industry. While industry has been waiting with baited breath for the U.S. Securities and Exchange Commission (SEC) to come out with formal guidance - since it was revealed that the regulator was closely investigating ICOs - Bermuda regulators have already set up a framework for those companies.
The territory will not only require ICO issuers to scrutinize potential investors, but Bermuda itself will also scrutinize the issuers by requiring them to outline beneficial ownership structures and to create more robust white papers.
According to John Narraway, an emerging technologies consultant at the BDA, this is particularly helpful since:
"The regulations around what must be in an offering document or a white paper is critical because a white paper can be something like poetry or a haiku."
He thinks this collection of standards will greatly mitigate the potential for Bermudian blockchain companies to engage in fraudulent activities.
And these regulations were also based off an existing regulation, the Companies Act, that officials merely tweaked.
"We've kind of billed this as, if you will, the greenhouse off the side to start growing new things, but using the main house of structure and reputation with the success of the thing and the clarity that's going to come from that," John Narraway, emerging technologies consultant at the BDA said of the amendment.
Yet, those leading Bermuda's blockchain efforts are also cognizant of the industry's proclivity for rapid change, and believe their regulations are prepared to accommodate it.
"Think of it like software versioning," Narraway suggested. "We know it's not going to be 100 percent perfect, but it's going to be as best as it possibly can be. If we can go from whiteboard to legislation in two months, how long is it going to take us to issue a 'patch' - to use software terminology?"
He added:
"We're going to have [version] 1.1 probably pretty quickly because we're going to be listening to the industry."
Involving the locals
Likewise, another means by which the government plans to keep pace with the industry is by keeping communication lines open with the major industry players, and making sure to keep the island's citizens in mind.
For instance, the memorandum of understanding between Bermuda and Binance stipulates that the crypto exchange will not only move its compliance center to the island, but also invest $10 million into blockchain-related educational programs and $5 million in blockchain startups over the course of two to three years.
In return, Bermuda will work to provide a steady talent pool for the company.
"We want to do it because we want those players and others to come into the market and create economic activity," Burt said of the deal.
Echoing Burt, Narraway said, the arrival of such companies can bring Bermuda up to speed with the industry by converting and capitalizing on local talent, and ideally abet the island's "brain drain," whereby highly-skilled locals move to other places where the market for such talent is more competitive.
"We want to be able to pull [young people] back in and give them opportunities, real opportunities, to participate in the economy and to grow it and to develop their careers," Narraway said.
According to Burt, the Bermudian government is in talks with other heavyweights from "the entire space," though he declined to identify them. The officials plan to release further information on industry partners and legislation in upcoming weeks.
Narraway thinks local startups also stand to benefit, particularly because the industry presents new possibilities for raising early stage capital, which is in short supply on the island.
"I can tell you from the business development side, we're having meetings every week with companies that are saying, 'I think I'm going to do this startup, this is where I want to go,' and now they're saying, 'explain to me this ICO as an option for doing my first round of funding," he said.
Narraway concluded:
"So I think this is a huge opportunity for the local companies and local entrepreneurs in Bermuda."
Source

#Cryptocurrency #ICO #Blockchain #TokenSale #Gas #RusGas #Token #AI #coin #bonus #platform #bitcoin #ethereum #crypto #currencies #project #gasindustry #cryptotrading #icoinvest #iconews #technology #icogas #Bermuda #CoinDesk #AML #KYC #CTF #BDA #BitFury #UK

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How to set up connection to the Binance exchange. How to Transfer Bitcoin From Binance to Coinbase - YouTube Binance Exchange Tutorial 2020: How To BUY And SELL ... How to use BINANCE Exchange (Beginners Guide) 2018 - YouTube Binance.US Financial Fitness Series with Spencer Dinwiddie Binance Bans Americans Tanking The Alt Coins! Now What Do We Do? Binance Tutorial Melhor Tutorial da Binance Exchange ... BINANCE Exchange - Cómo COMPRAR y VENDER Criptomonedas ... Alternative Crypto Exchanges after Binance Exchange Hack - Binance gets hacked  cryptocurrency news today

Additionally, the international Financial Action Task Force (FATF) issued a report on money laundering and terrorist financing that referred to Binance in all but name. The Fisco/Zaif case According to news reports, Fisco Cryptocurrency Exchange, Inc. filed a complaint on Monday in the U.S. District Court of the Northern District of California San Jose, seeking damages and restitution. The exchange has shown a history ... relate to bringing further cryptoassets service provides within scope of the U.K. anti-money laundering and counter-terrorist financing regime and dealing with cross-border risks posed by cryptoassets (for example, the risk that firms based outside the U.K. would avoid U.K. regulatory standards). Those same requirements will cause huge problems for other ... Why should You choose bitcoin exchange Binance? The Binance cryptocurrency Exchange is currently one of the world’s largest cryptocurrency exchanges, where over 200 digital currencies are available for purchase. This exchange is considered one of the most stable and secure. Binance is characterized by very high liquidity, which unfortunately cannot be observed on other (smaller or younger ... While ‘motivation cannot be inferred from data, Gradwell speculated that given the growth of small scale peer-to-peer Bitcoin networks around the world, “it could be possible that in some of the hawala networks there is an informal Bitcoin exchange rate.” The premium on domestic Bitcoin transactions compared to the global average tends to spike during political and economic crisis. It looks like the crowd that supports Bitcoin Satoshi Vision (BSV) has decided to attack someone in the crypto community once more, as it is becoming their normal behavior.. Their target this time is Binance, which delisted their token two weeks ago, which is a clear retaliation for what happened, it seems.. One of the public faces of BSV, Calvin Ayre, which owns CoinGeek and the Ayre Group ... Bitcoin and other cryptocurrencies have often been cited as being a major conduit for money laundering and terrorist financing offences, not least because of the pseudonymity it affords its users. As a result, national regulators have taken notice of these underlying risks, subsequently laying pressure on third party exchange platforms that deal with fiat money to ensure they identify their ... The world’s largest cryptocurrency exchange, Binance, decided to, as previously announced, earmark London citizens with new ads featuring Bitcoin. According to a tweet from August 28 that ... When triggering the platform’s anti-money laundering and anti-terrorist financing alarms, Users shall actively cooperate with the platform in its verification, and assist in providing any risk control evidence as needed (subject to the platform’s risk control measures then effective). If Users fail to do so after triggering the anti-money laundering and anti-terrorist financing alarms, the ... After several slippery slopes yesterday, Bitcoin markets have finally found some slight stability, tumbling as low as USD 8,530 but trading closer to USD 8,900 right now as the market shows signs of preparing to reclaim the lost support of USD 9,000, now turned resistance. Bitcoin trades on Bitfinex Exchange Ayre also shared a Bellingcat article on March 26th which suggested that Binance might be involved in sending money to Al-Qassam, a terrorist group embargoed by both the US and the EU. Binance’s delisting of BSV, of which Ayre is co-founder, caused a collapse in the value of this cryptocurrency, hence Calvin Ayre cannot be considered an impartial source with regard to these accusations.

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How to set up connection to the Binance exchange.

Yet another exchange hack just took place, this time Binance is the victim of a 7K BTC hack. Jimmy, Robert, Wendell, and Fredrick explain. Twitter: https://t... Since Binance is not going to be available in the US anymore after September 12th, here are some alternative exchanges to use. ----- Get Brave a... Know how to transfer from Binance to Coinbase. This video will help you move your coins from Binance to hardware wallet or other exchange. In this video, I s... 💥Sign up to Binance and Cut your Fees in Half Here https://www.binance.com/?ref=11093903 MUST WATCH *****UPDATED 2018 VERSION HERE*****... In the new video, we will tell you how to connect to one of the most popular crypto exchanges Binance. The connection procedure is the same for all our produ... -Binance to open up US Exchange -Coins that US Traders will have access to once Binance shuts down: what to buy! -Cryptocurrency Lobbying Growth is proof that the space is evolving! Link de afiliado de Binancehttps://bit.ly/BinanceTradingExchangeEn este vídeo explico de manera sencilla como crear una cuenta en Binance para poder hacer tra... New Binance exchange tutorial 2020. How to deposit and withdraw, how to use the exchange itself and we also discuss some more features of the Binance platfor... Tutorial Corretora Binance Exchange - Como Comprar e Vender Bitcoins e Criptomoedas Passo a Passo na Binance. Melhor tutorial. Link da Corretora Binance: ️ ... Binance.US brings you the trusted technology from the world's leading crypto exchange, Binance. Trade your USD for bitcoin, ethereum, and other cryptocurrencies. Trade your USD for bitcoin ...

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