A company once heralded as a “decentralized alternative” to Google recently settled with the SEC. BitClave suffered a near-immediate collapse in price The project’s token price collapsed almost immediately upon change listing and never recovered. Seemingly the dream of a “decentralized” Google never materialized. The company’s website does not have a link to a GitHub
Pavel Durov, founder and CEO of popular messaging app Telegram, has purportedly resumed his charity activity soon after terminating Telegram’s blockchain project. Known for philanthropic activity, including a $1 million donation to Wikipedia, Durov has donated 10 bitcoins (BTC) to a charity project in Russia. The coins are worth around $96,000 at time of publication.
The Thirteenth National People’s Congress and Chinese People’s Political Consultative Conference has come to an end on May 28. According to Xinhua news, the same day the parliament passed a new civil code; a legislation package that includes protecting the civil rights of inheritance, marriage, property, personality, contract and infringement. The new code states: “When
In a May 27 interview sponsored by Chainalysis, Director of the United States Financial Crimes Enforcement Network (FinCEN) Kenneth Blanco was adamant that the regulator is not the enemy. “This technology belongs to all of us” FinCEN is the governing body that enforces the Bank Secrecy Act in the U.S., requiring financial institutions to provide
A major state authority in Russia has objected to the State Duma’s proposal to cancel the ban on Telegram’s encrypted messenger in the country. Russia’s Ministry of Digital Development, Communications and Mass Media, also known as MinComSvyaz, doesn’t support a recent initiative to lift the two-year-long Telegram ban, local news agency Interfax reports May 26.
The Kleiman estate’s legal team has entered into evidence this week’s revelation that 145 addresses claimed by Craig Wright are not controlled by him. They filed a notice of supplementary evidence supporting their motion for sanctions against Wright earlier this morning, adding to their laundry list of complaints against the Satoshi-claimant. They said the new
Ripple CEO Brad Garlinghouse has urged United States regulators “to step up and lean into digital currencies” to avoid falling behind China in the field. In a tweet posted May 26, Garlinghouse warns that “remaining complacent is actually setting us back,” citing an article suggesting that China’s long-touted central bank digital currency (CBDC) has the
Facebook-owned digital wallet Calibra rebranded itself as Novi earlier today, sharing new details about the project. The primary reason for the name change was to avoid the confusion with the Libra cryptocurrency, a representative for Novi told Cointelegraph. “When we announced Libra and Calibra last June, we wanted to demonstrate that Calibra, the digital wallet,
Known for their regulation-friendly outlook within the crypto industry, Gemini exchange founders Tyler and Cameron Winklevoss hold a hybrid approach to privacy and government rules. The twin brothers explained in a May 22 podcast interview with Peter McCormack that crypto adoption comes a need for some degree of regulation. Cameron added: “The independence and sovereignty
People’s Bank of China (PBoC) clarified that there is still “no timetable” on a formal digital yuan launch. In an interview published earlier today on the central bank’s website, PBoC Governor Yi Gang was asked about the CBDC’s official launch date, to which he replied: “These tests are just routine work for the research and
The Swiss government has denied a 100 million franc request by the Canton of Zug for use in keeping local crypto companies afloat, according to local newspaper Tages-Anzeiger. Zug’s finance director Heinz Taennler initiated support for the financial package earlier in April to support local blockchain companies affected by the COVID-19 pandemic, but the answer
The state of Louisiana might soon pass a bill to offer licenses for crypto businesses to operate legally, according to a May 25 report. The bill was filed earlier this year with the goal of helping crypto businesses get official licensure and bring more crypto-related business to the state. The new bill is backed by
Telegram has withdrawn its appeal against a United States federal court’s injunction that froze Gram token issuance and distribution, according to court documents dated May 22. The move seems to suggest that the company has fully abandoned its TON plans. Earlier this month, Telegram CEO Pavel Durov announced their “active involvement” with the project was
Jack Dorsey, CEO of Twitter and mobile-payment platform Square, is donating $5 million to Humanity Forward, a group launched by crypto-friendly former presidential candidate Andrew Yang, as part of both entrepreneurs’ efforts to establish universal basic income (UBI) for Americans. Dorsey announced the plan on Yang’s podcast, Yang Speaks, on May 21, while discussing the
“There is no country with more to lose from the disruptive potential of digital currency than the United States.” So goes the stark warning from analysts at the U.S.’ largest bank, JPMorgan Chase, in a new report covered by Bloomberg News on May 22. The report’s authors — among them, JPMorgan’s head of of U.S.
The Official Monetary and Financial Institutions Forum (OMFIF), an independent global think tank for central banking and economic policy, announced the launch of its Digital Monetary Institute earlier this month. The Institute intends to build bridges between the worlds of digital currencies and traditional banking, and has a focus on payment instruments in wholesale and
Russian lawmakers have suggested punishments of up to 2 million rubles ($27,800) and seven years in prison for illegal turnover of digital assets and cryptocurrencies. As reported by the Russian business channel, RBC, the draft amendments to the administrative and criminal offences codes were confirmed as genuine, but have not yet been agreed into law.
The United States Securities and Exchange Commission’s vigor in pursuing initial coin offerings, or ICOs, has become a major boogeyman within the crypto community. Most recently, the case against Telegram ended with that company abandoning its planned open network and Gram tokens, which raised $1.7 billion. The question before the crypto community is now: Have
Ukraine is getting closer to providing a legal status for cryptocurrencies like Bitcoin (BTC) with a new draft bill published on Monday. On May 18, the Ministry of Digital Transformation of Ukraine published a new draft bill “On Virtual Assets” that aims to determine the legal status of crypto assets, rule of their circulation and
On May 22, Wyoming’s Select Committee on Blockchain, Financial Technology and Digital Innovation technology convened in full for the first time, albeit virtually. Initially announced on May 17, the new select committee evolved from the previous Blockchain Task Force. Task force to select committee: What has changed? In today’s meeting, Chairman Chris Rothfuss commented on
Iran’s president has tasked officials at the central bank and ministries of energy, communications and IT with drafting plans for a national cryptocurrency mining strategy. As reported by the Iranian news website ArzDigital on May 22, officials were briefed during the 137th session of Iran’s economic coordination headquarters earlier this week, chaired by President Hassan
The ‘Free Ross’ movement has hired a billboard in New York’s Times Square as part of its campaign for the release of the Silk Road darknet market founder Ross Ulbricht. According to the Twitter account ‘Clemency for Ross’ the billboard will display the message and image for several months. The account emphasized that the billboard
Blockchain.com, a major cryptocurrency wallet and blockchain data provider, plans to support Russia’s national currency, the ruble (RUB). Although some big exchanges like Binance have introduced the Russian ruble, there is still no law authorizing circulation of crypto in Russia. On May 20, Blockchain.com announced its long-term roadmap, “The next era of crypto and 1B
President Donald Trump’s nominee for the Federal Reserve board of governors is reiterating her advocacy for the gold standard — and adding digital currency into the mix. In an interview May 20, Judy Shelton told reporters: “I don’t see it so much as returning [to the gold standard], more like ‘back to the future.’ I
Chinese authorities have dismantled a group of alleged scammers posing as Huobi exchange officials, who were operating an over-the-counter (OTC) website. As reported by local media outlet Jinse, on May 20 police arrested 12 suspects in Guangdong province believed to be behind the scheme, after an investigation found that WeChat crypto trading groups had been
On May 19, Representative Brett Guthrie (R-KY) introduced the “Advancing Blockchain Act.” Per a May 18 draft of the legislation obtained by Cointelegraph, the bill asks the Federal Trade Commission and the Secretary of Commerce to put together a new survey of blockchain’s uses and the state of adoption in the United States. Establishing jurisdictions
Per a May 20 announcement from Banque de France, France has become the first country to successfully trial a digital euro, operational on a blockchain, following a call for new technology to back such a development at the end of March The bank says it tested a sale of securities for central bank digital currency
U.S. District Judge Consuelo Marshall has rejected AT&T’s bid to dismiss a lawsuit that alleges the company was negligent for failing to prevent the theft of $1.8 million in crypto from investor Seth Shapiro. In the judge’s order allowing the suit to continue, Shapiro’s claims of negligence, negligent supervision, claims brought under the Computer Fraud
Major Bitcoin (BTC) derivatives exchange BitMEX went offline earlier on May 19, citing trading engine failure. The platform was inaccessible for a brief time, and is currently back online as of press time. “The BitMEX Trading Engine is currently down,” the company tweeted around 12:45 UTC time. Around 25 minutes after the initial announcement, Bitmex
Per a May 18 complaint, more investors are looking to recoup funds invested in the record-breaking initial coin offering for EOS — which netted a total of $4 billion in cryptocurrency. Lawyers for the plaintiffs are calling over $200 million of that money illegally raised. Conflict with U.S. securities law and investors The complaint alleges