Bitcoin & Cryptocurrency

Bitcoin Hits Another Record High in a Week at $7000

Bitcoin Hits Another Record High in a Week at $7000

Bitcoin’s rapid ascent continues this week as the popular cryptocurrency reached another high of $7000 yesterday. It was reported that prices saw a nine percent increase in the last 24 hours to reached $7,140 on popular digital asset broker Coinbase. The surge went up to $7,200 on other exchanges, after which it finally retreated to $7,075. Bitcoin’s takeoff defied the expectations of even the most optimistic of traders. Since the early October, the digital currency’s value had already accrued an additional $2000 in value. Source: TechCrunch

Coin Miners in Apps and Sites Become More Prevalent

Coin Miners in Apps and Sites Become More Prevalent

Experts have recently expressed their concerns over the rise in cryptocurrency miners in apps and websites that stealthily use the device’s hardware without the user’s permission. Trend Micro researchers disclosed the presence of three such apps in Google Play last Monday. They identified the apps Recitiamo Santo Rosario Free, SafetyNet Wireless App, and the Car Wallpaper HD to be using said miners and reported them to Google, who removed them immediately. The researchers added that these cryptominers significantly degrade the performance and lifespan of the device’s CPU and battery. Source: ZDNet

Bitcoin Continues to Soar to $6450

Bitcoin Continues to Soar to $6450

Bitcoin once again hit another record high of $6450 last Wednesday, fueled in part by reports that the world’s largest derivatives exchange operator would be launching a futures contract for the popular cryptocurrency. The CME Group Inc (CME.O) announced last Tuesday that it will be providing a regulated trading venue for cryptocurrency. The group also said that the new derivatives will be launched in the fourth quarter of this year. Bitcoin has already seen more than a sixfold increase this year, doubling its price since mid-September.   Source: Reuters

Fintech R3 and World’s Top Banks Develop Blockchain-based Payments System

Fintech R3 and World’s Top Banks Develop Blockchain-based Payments System

Fintech firm R3 announced last Tuesday that they have developed a blockchain-based international payments system with 22 of the world’s biggest banks. Head of Natixis’ Digital for Corporate & Investment Banking Frederic Dalibard says that even though there are other blockchain-based systems for cross-border payments being developed, his organization believes in the promise of the R3 project because the system’s architecture can also be adapted to the coming central bank-issued digital currencies. Big names in the banking industry such as Barclay’s, HSBC, and Commerzbank, are also participants in the project. Source: Reuters

Calata Corp Turns to Cryptocurrency Amid Delisting

Calata Corp Turns to Cryptocurrency Amid Delisting

The president of agribusiness Calata Corp recently announced in a press conference that the company may resort to using cryptocurrency if the company gets delisted from the Philippines Stock Exchange. Joseph Calata revealed that the company is considering converting all of their 570 million shares into “Calcoins” or Calata Coins if their shareholders would agree. He additionally said that he has already talked with 3 cryptocurrency exchanges in Europe. Calata Corp was handed an involuntary delisting penalty for violation of several disclosure rules, according to the PSE. The company initially planned to sell an 81% stake to Millennium Global Holdings […]

Vietnam Considers Cryptocurrency as an Illegal Method of Payment

Vietnam Considers Cryptocurrency as an Illegal Method of Payment

Last week, Vietnam’s state bank announced that cryptocurrencies such as Bitcoin will not be considered as a legal form of non-cash payment. Parties who are caught making or receiving cryptocurrency payments will be fined VND 150 million and 200 million, or approximately $6000 — $9000. The move against cryptocurrency is said to be based on the orders of Vietnamese Prime Minister Nguyen Xuan Phuc which wee given last year. No reason was given for the change, but many believe it is because of cryptocurrency’s conflict with traditional banking structures. Source: ZDNet

Malaysia to Form Task Force for Blockchain Tech Exploration

Malaysia to Form Task Force for Blockchain Tech Exploration

In a recent forum held in Kuala Lumpur, Malaysia’s Minister of Science, Technology and Innovation (MOSTI) Datuk Seri Panglima Wilfred Madius Tangau announced that the country will be creating a National Task Force which will explore the opportunities offered by blockchain technology. The plan was mentioned in the minister’s speech which was read by MOSTI deputy secretary-general Prof. Madya Dr Ramzah Dambul. It was also revealed that the task force will be composed of government agencies and several organizations from the private sector.    According to MOSTI, Malaysia is on its way to adopting blockchain tech in line with emerging […]

Chrome May Stop Cryptocurrency Miners Via Special Permission

Chrome May Stop Cryptocurrency Miners Via Special Permission

Chrome engineers are planning to use a special browser permission to stop in-browser cryptocurrency miners. Chrome engineer Ojan Vafai suggested implementing a “battery saver mode” where tasks are aggressively throttled. A tab in battery saver mode which is put in the background will have its tasks stopped completely. It was also revealed that the engineers have shelved the idea of blocking the miner’s Javascript code at browser level by using a blacklist, calling it impractical.   Until Chrome engineers can agree on a final solution to the issue, users are advised to use miner blocking extensions like AntiMiner, minerBlock, or […]

BSP Releases New Cryptocurrency Guidelines

BSP Releases New Cryptocurrency Guidelines

Said to be the first of its kind in the region, a circular by the Bangko Sentral ng Pilipinas on cryptocurrency has recently been discussed in the news, particularly because of the rapid surge in Bitcoin prices in the past week. According to BSP deputy director Melchor Plabasan, millions in cryptocurrency are being traded in the country each day, and the guidelines seek to balance the interests of harnessing innovation with managing risks. He added that virtual currencies can easily be used for money laundering which cannot be countered by anti-money laundering laws and KYC practices. Meanwhile, Satoshi Citadel Industries […]

Russia Plans to Issue Its Own Cryptocurrency

Russia Plans to Issue Its Own Cryptocurrency

In the wake of the country’s hard stance on cryptocurrency, a report by CoinTelegraph revealed that Russia may soon issue its own digital currency to be called the “CryptoRuble”. According to scarce details gathered from Russian news agencies, the currency will be blockchain-based. However, it cannot be mined and can only be issued by by the government, and will be tracked like any ordinary currency. Some say that this practically defeats the purpose of this kind of currency, which is traded primarily because it is unhindered by government regulation.   It was said that the Russian government’s minister of communications, […]