Boerse Stuttgart launches mobile crypto trading app

German cryptocurrency fans now have greater flexibility buying or selling assets. The country’s second-largest stock exchange, Boerse Stuttgart Group, has introduced a mobile app for crypto trading.

The company announced the release of the new app on its website yesterday, after having spent a year tweaking it. The new Bison app, which includes an integrated crypto wallet, is available for Android 4.4+ and iOS 9+ devices, allowing users to fund their exchange accounts with fiat, as well as to trade in Bitcoin Core (BTC), Ether (ETH), Litecoin (LTC) and Ripple (XRP).

Dr. Ulli Spankowski, the CEO of the Boerse Sowa Labs GmbH subsidiary that developed the app, states, “BISON is the first cryptocurrency trading app from a provider in Germany. It enables free-of-charge trading in Bitcoin, Ethereum, Litecoin and Ripple (XRP).”

To gather support, Bison is launching with no trading fees. Trading will only be offered between 6 AM and 12 AM Central European Time, but Boerse indicates that this could change in the future. Users will need to register and submit to Know Your Customer verification procedures, which the exchange indicates will take place by video identification.

The press release further states, “BISON lowers the technical barriers in dealing with the complex world of cryptocurrencies. This also includes safe custody of the acquired cryptocurrencies, so BISON users do not need a crypto wallet. On request, after having bought cryptocurrencies on BISON, users can transfer them into their own wallet.”

Trades will be conducted by a Boerse financial services subsidiary, EUWAX AG. Blocknox GmbH, another company subsidiary, will act as the custodian of the digital assets. SolarisBankAG, a German bank, will act as the banking partner for fiat payment processing, as well as offer custodial services for the fiat deposits, which will be protected under Germany’s statutory deposit guarantees.

Bison is currently only available to German customers; however, Boerse indicates that it hopes to roll out the app to other countries across Europe at some point later this year.

Spankowski asserts that additional features will be gradually added and states, ““These will include the extension of trading to 24 hours a day, seven days a week, and additional trading functionalities. We will also enable trading in further cryptocurrencies, which will be selected considering criteria such as market capitalisation, customer interest and whether they can be kept in safe custody.”

London police nab prolific cybercriminal

London police nab prolific cybercriminal, seize $700,000 in BTC

Undercover British police took a little train ride last December. It wasn’t for a police conference or to participate in a training exercise; instead, it was the perfect opportunity to corral a fugitive they had finally caught up with after two years. The fugitive was Grant West, and he had become known as one of the most prolific cybercriminals in the world.

Going by the name of “Courvoisier” online, he allegedly concocted a series of cybercrimes directed at more than 100 companies between July and December 2015. According to investigators, West targeted gambling shops, cellphone companies and supermarkets, using phishing emails sent to the stores’ customers that resulted in the individuals giving up their bank details, credit card numbers and passwords.

West used this information to make a small fortune on the Dark Web, selling the data to unscrupulous scammers. He received payments for his services, and converted them all to BTC—when he was arrested, over $700,000 in BTC was found in several wallets held on his laptop.

Under many circumstances, law enforcement officers have a difficult time gathering intel, especially when criminals use the anonymity of cryptocurrency to their advantage. However, when West was nabbed, his laptop was turned on and unlocked, and investigators were able to walk right in. They found his encrypted addresses on the computer, which helped authorities secure their case against him.

According to Sharon Cohen Levin, a money-laundering authority who has worked for the U.S. Attorney’s Manhattan office, investigators often have the ability to know that cryptocurrency has been utilized in the commission of a crime, but they aren’t able to identify the individuals. Having access to West’s laptop changed that significantly in this case. Levin explained to USA Today, “There is not necessarily any place, for example, that you can subpoena to find information about Bitcoin-related activity.”

The arrest comes after a two-year undercover operation led by Scotland Yard. The arrest was led by Mick Gallagher, who said, “These people generally feel they can operate with impunity, that they can’t be touched. We have now debunked that.”

West was found innocently traveling on the train, oblivious to what was about to go down. He pleaded guilty to the charges and will stand before a judge on May 25 to learn his fate. His girlfriend and alleged accomplice, Rachael Brookes, was sentenced to community service for two years, authorities said.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Coinbase gives up data to New York attorney general

Coinbase gives up data to New York attorney general

New York’s Attorney General (AG) Eric Schneiderman asked a number of cryptocurrency exchanges to turn over corporate data last month. While some exchanges like Kraken told him to basically get stuffed, Coinbase has agreed to the request.

In a public response to the request, and perhaps as a means of saving face, Coinbase said, “We applaud the [Office of the Attorney General] for taking action to bring further transparency to the virtual currency markets.” The response is part of a five-page letter penned by the exchange’s chief legal and risk officer, Mike Lempres, who further detailed the $150 billion in assets held by the company, as well as its received funding of $225 million and its financial position, which he describes as “a profitable and self-sustaining business.”

Schneiderman, who has never been an ally to the cryptocurrency industry, sent a request to 13 exchanges in April that demanded information on 32 separate points. He solicited information about their operations, their leadership, privacy, funding and relationships with other financial institutions, and much more. As any power-branding zealot would do, he only gave the exchanges two weeks to comply.

Coinbase’s letter further details its involvement with law enforcement and regulatory agencies around the world, its system upgrades (which, according to Lempres, helped the platform maintain 99.99% uptime in April) and Coinbase’s “state of the art” cybersecurity program. Lepres also stated that the company is a federally-regulated money service and currently holds licenses to operate in 31 states, including in New York with its BitLicense.

Coinbase may have reported “99.99% uptime” for April, but it wasn’t without issues in the month. From April 12 to April 16, users reported not receiving email confirmations for instant purchases, a glitch that Coinbase subsequently corrected. On April 2, purchases using the exchange’s Xfers payment method were unavailable for about four hours, but no sells were apparently affected.

The public version of the information provided is a watered-down version of what was presented to Schneiderman per a request by Lempres made from the start. Lempres had requested “confidential treatment” to the entire response, delivered to the AG via Coinbase’s own “encrypted end-to-end secure file exchange service consistent with our security protocol.”

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
CoinGeek Conference hashes out Bitcoin Cash's vital role in eCommerce

CoinGeek Conference hashes out Bitcoin Cash’s vital role in eCommerce

Bitcoin Cash (BCH) is one of the best-performing cryptocurrencies on the market today. Its rapid transaction times, on-chain scaling and low transaction fees make it the prime candidate to be used in the retail sphere, and the eCommerce industry is poised to reap huge rewards for its integration as a payment option. The inaugural CoinGeek conference on May 18 is the perfect event merchants and business leaders to come together and learn why BCH plays such a vital role in retail, and where it’s headed.

Jimmy Nguyen, CEO of nChain, one of the influential tech groups leading the development of Bitcoin BCH, said it best when he said that BCH shouldn’t be perceived as anti-bank or anti-establishment.  Just the opposite, BCH is designed to be a true digital payment system that is capable of being used by all industries—banks, payment services, technology-based and even entertainment.  It is the one cryptocurrency that offers the most versatility and reliability to all industries.

The CoinGeek conference, which will be held at Hong Kong’s Four Seasons hotel, is an exciting one-day conference highlighted by important discussions with some of the greatest minds in the cryptocurrency world today. Nguyen will be there to talk about BCH in retail, as will Bitcoin.com owner Roger Ver, nChain Chief Scientist Dr. Craig Wright, Bitmain co-founder Jihan Wu and many others. They’re all coming together to offer their expertise on the changing world of cryptocurrency in eCommerce, and why BCH is taking the lead.

The day kicks off at 8 a.m. with an informal meet-and-greet, the perfect opportunity to mingle with business leaders from around the world and to expand alliances. The series of seminars will wrap up before 6 p.m., leaving attendees with an incredible amount of information and a fun-filled day to remember.

After the conference, attendees can enjoy an after party hosted by CoinGeek founder and cryptocurrency entrepreneur Calvin Ayre. There are only about two weeks remaining before the conference, and reservations are required. Attendees who pay with BCH will receive 50% the regular admission price. Register today and join fellow business leaders, entrepreneurs and visionaries at this year’s one cryptocurrency conference that can truly make a difference.

Find out how you can integrate blockchain into your business by registering for the CoinGeek.com conference today.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
IOTA defenders say news tweets spread FUD

IOTA defenders say news tweets spread FUD

It’s one thing to stand behind your beliefs; it’s something completely different to hold onto them so tightly that you’re ready to pounce anytime someone even whispers a comment that’s out of sync. However, that is exactly what is going on with the IOTA community, which immediately cries foul anytime a blurb, a tweet or a comment is posted that doesn’t espouse the supposed endless virtues of the digital currency.

IOTA is a distributed ledger technology and cryptocurrency designed for the Internet of Things (IoT). It is repeatedly in the news, and lately there have been a number of online harassment allegations against the group. One individual, a reporter for Forbes, was apparently told that “she needs to be slapped” by IOTA Foundation board of directors’ member Dominik Schiener for reporting about the security flaws in the cryptocurrency uncovered in an MIT research.

Jemima Kelly, who writes for the Financial Times (FT), said that IOTA followers are obsessed with controlling any information that is published about the group. In an article she wrote on the FT website, Kelly said, “IOTA talks a lot about FUD (fear, uncertainty and doubt), a term adopted by the crypto community to refer to critical commentary. The acronym might also reasonably be applied to its own approach to dealing with critics.”

Kelly added that IOTA’s tactics have resulted in certain individuals being too scared to speak out. She contacted several people for comments for her story, and two declined. One was concerned about being physically harmed if identified as the person in the story. An individual who agreed to comment, Post Oak Labs’ Tim Swanson, indicated that he had retweeted a story that was critical of IOTA, but later removed it because he had been intimidated by a “senior person from the IOTA team.”

Now, IOTA’s fan base automatically calls out any piece that doesn’t paint IOTA is the best cryptocurrency ever for doing nothing more than spreading FUD. Evidence is found on Tangleblog’s Twitter feed – one example found on Tangleblog called out Zcash’s founder, Zooko, for spreading FID because he tweeted a link to Kelly’s FT article. The blog’s author went further, whining about Grayscale Investments because it liked Zooko’s tweet.

IOTA and its “troll army,” as it has become known, has pushed for boycotts against organizations such as Bitcoin.com, Coindesk, The Next Web and many, many more. Anyone who doesn’t bow down and pray to IOTA is seen as an enemy, and the troll army is all too ready with the swords to launch their attacks.

The attacks follow a predictable pattern. First, there’s the Twitter response. An article’s author can expect to receive veiled threats soon after publishing a story, and will be told to stop the spread of FUD. If that doesn’t work, the army goes into high gear.

After that, the comments section of the article will receive numerous complaints. These are virtually all the same copied-and-pasted text, showing the lack of creativity on the army’s part. The soldiers may complain that the article demonstrates fear of IOTA’s superiority, or they might go directly after the author, using anything from his or her past as artillery to disparage the individual.

This article hasn’t exactly put IOTA in the best of lights. I guess it’s my turn to feel the wrath, to which I can only say one thing—bring it on.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Sorry Alibaba

Sorry Alibaba, Alibabacoin is here to stay

A new cryptocurrency hit the markets recently, and its name didn’t sit well with the Chinese retail giant Alibaba. The coin, Alibabacoin, was seen as infringing on Alibaba’s name, so Alibaba did what any company would do—it sued. Unfortunately, a judge didn’t see it through the same eyes and has now thrown out the suit, Reuters reported.

Alibaba filed its complaint against the Dubai-based group on April 2. It accused Alibabacoin of an “unlawful scheme to misappropriate” Alibaba’s brand name “in order to deceive investors in the U.S. and around the world.” It argued that the company had used Alibaba’s name to raise more than $3.5 million through its initial coin offering (ICO), and that the company is not registered nor approved by regulators in the United States.

A judge issued a temporary restraining order subsequent to the suit; however, the judge who presided over the case, J. Paul Oetken, determined that Alibaba has no jurisdiction in the U.S. It also decided that, since China bans all ICOs, there could not be any possible confusion.

In reaching his decision, the judge stated, “Alibaba did not show he had jurisdiction, having failed to establish a ‘reasonable probability’ that Alibabacoin’s interactive websites were used to transact business with customers in New York.” Judge Oetken further elaborated on his decision, adding, “Any injury Alibaba might have suffered to its business, goodwill and reputation from alleged trademark infringement likely occurred in China, where the e-commerce retailer is based.”

Alibabacoin was founded by Jason Daniel Paul Philip, who currently serves as the company’s CEO, and Hasan Abbas, its chief technology officer. It has offices in Dubai and Minsk, Belarus, and began offering its ICO in March. The ICO will be conducted in phases, with the first having taken place between March 1 and March 15, according to the company. A second phase was scheduled to begin on March 16, but the company hasn’t updated its information to show whether that phase took place. Nor has the company updated its website to indicate how much it has collected to date.

The lack of updates and public information are enough to create a less-than-confident opinion of the company. Requests for comments have gone unanswered and more potential investors are now questioning the legitimacy of the cryptocurrency.

In a statement to CoinGeek, a spokesperson for the Alibaba Group said the eCommerce giant planned to submit a new motion.

“Alibaba Group is not affiliated with the ABBC Foundation. The court’s ruling on April 30 was with respect to jurisdiction. We will be submitting a new motion and are confident we will be able to put an end to this willful, concerted and unlawful scheme by the ABBC Foundation to exploit Alibaba Group trademarks,” the spokesperson said.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
South Korea central bank to pilot 'cash-free' society with crypto

South Korea central bank to pilot ‘cash-free’ society with crypto

Since 2016, South Korea’s central bank, the Bank of Korea (BOK), has wanted to develop a cash-free society. Those plans may be one step closer, as the bank launching a pilot program that will explore the feasibility, and is considering cryptocurrency and blockchain technology to make it happen.

The project was published this week in a report by the BOK, according to Token Post. In the report, the bank’s “2017 Payment Report,” details the creation of an organization that will research cryptocurrency and analyze the effect it could have on the financial system. The bank further stated that it has already begun to investigate the use of blockchains for the cash-free system, including the use of the technology as a payment system.

The pilot program is designed to reduce the costs associated with printing and distributing physical money. According to officials, South Korea spent about $47 million issuing paper and coin currency in 2016 The country is pushing to be “cash-free” by 2020.

An added benefit that a cash-free program offers to the country is that it would include the “underground economy,” which is mostly cash driven. An analyst with the Shinhan Investment Corp. stated that, “[A cashless society] can open the underground economy, and thus enhance equivalence in taxation. The shoe box full of 50,000 won banknotes that you see in movies will disappear in reality (with the advancement of a cashless society).”

This is only the latest in a series of steps to move away from physical currency. In 2017, the BOK implemented a program that allows customers to deposit small change from transactions directly onto prepaid debit or phone cards.

If the new program functions as well as the bank hopes, it would be a significant step forward for global acceptance of cryptocurrencies. It could possibly push them into mainstream financial transactions, ultimately allowing digital currency to fulfill the role for which it has been designed.

South Korea isn’t the first country to consider a switch to cryptocurrencies. Sweden is running a program now that could see the country’s e-krona replace its fiat currency. That program could see cryptocurrency becoming the currency of choice in the country within the next four to five years.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Japan's SBI Holdings to launch crypto exchange in summer 2018

Japan’s SBI Holdings to launch crypto exchange in summer 2018

Japan’s Financial Services Agency (FSA) recently began putting cryptocurrency exchanges under the microscope, causing two to shut down and others to permanently leave the country. While the agency may have had good intentions—to create regulations that would protect consumers—some of their policies were viewed as exaggerated. One financial company is willing to swallow the regulations and has announced that it will open a cryptocurrency exchange sometime this summer.

SBI Holdings, one of the largest financial services companies in Japan, will launch its SBI Virtual Currencies exchange, allowing investors to trade in Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), and BTC. The company’s president, Yoshitaka Kitao, anticipates using BCH as the settlement currency, given the fact that BTC is expensive and “tiring as a settlement currency.” Kitao added that the exchange’s remittance currency would be XRP.

The official launch date has yet to be announced; however, Kitao said, “When we do it, it will be number one in the blink of an eye so quickly, so even if a tremendous number of customers come, we can build a system that can bear. [sic] We have to pursue safety thoroughly.” The exchange comes after SBI initially announced plans for the SBI Virtual Currencies platform about a year and a half ago. In December, SBI said that it would be partnering with BTC trading platform Huobi and expected the exchange to be ready at some point early this year.

Following the FSA’s crackdown on cryptocurrency exchanges, SBI was forced to delay the launch once more as it worked on ensuring that the platform would function in accordance with the new regulations.

SBI was established in 1999 and has several business entities. It is involved in Financial Services, Asset Management, biotechnology-related research and development and a wellness bank. The company reported revenue of just over $3 million for its latest fiscal year ending in March, representing an increase of just under $700,000 from the previous fiscal year.

Two months ago, SBI purchased 40% of cryptocurrency hardware wallet company, CoolBitX, out of Taiwan. The wallet company’s main product is the CoolWallet, which has the ability to interact with other devices over Bluetooth.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
CFTC ‘cryptodad’ chairman to retire in 2019

CFTC ‘cryptodad’ chairman to retire in 2019

The cryptocurrency community is about to lose a prominent voice. J. Christopher Giancarlo, chairman of the U.S. Commodity Futures Trading Commission (CFTC), has announced his intention to retire following the completion of his current term in 2019. Giancarlo, who was given the nickname “cryptodad” after positive comments he made to the U.S. Congress regarding cryptocurrency, has been a supporter and one of the most important proponents of digital currency in the nation’s capital.

During a congressional hearing earlier this year, Giancarlo won significant favor with the crypto community when he said, “It strikes me that we owe it to this new generation to respect their enthusiasm to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one.” That was seen as a virtually blessing by one of the most important financial figures in Washington, and resulted in a collective cheer among cryptocurrency enthusiasts.

Due in no small part to Giancarlo’s attitude toward the subject, the CFTC has been involved in the creation of two regulated Bitcoin futures products. Both launched last December and are found on the CBOE and CME exchanges. Many opponents expected the assets to implode, but the opposite has happened. They have been trading in an organized manner and have continued to see an increase in trading volume.

The CFTC has also helped to police the cryptocurrency industry, taking an active role in seeking out frauds and scams. Giancarlo’s term will end on April 13, 2019, but he has indicated that he is willing to stay onboard until U.S. President Donald Trump decides on a successor. Giancarlo has not provided details on why he’s retiring; however, a clue may come from the federal budget signed by Trump in March. The CFTC’s budget was reduced by $1 million, while that of the Securities and Exchange Commission (SEC), which seems to have launched a war on cryptocurrencies and initial coin offerings (ICOs), saw its budget increase by 3%.

Giancarlo has been a loud voice for cryptocurrencies, even repeatedly tweeting his support for the space. This has generated some fallout by critics and cryptocurrency opponents, who have argued that he should not consider any decisions that would define cryptocurrency as an asset class.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Plus500 shares skyrocket in cryptocurrency trading explosion

Plus500 shares skyrocket in cryptocurrency trading explosion

Australian-based online trading platform Plus500 enjoyed a tremendous first quarter in 2018, as revenue jumped by 284% reaching $297.3 million. The explosion comes as the exchange introduced a new cryptocurrency trading option, resulting in 72,960 new customers registering with the exchange.

Already this year, Plus500 has achieved 68% of what it earned during the entire 2017. It began offering contracts for difference (CFD), which have proven to be highly popular with its clients. The launch of CFDs was implemented due to customer requests and Plus500’s continual review of practices to stay on top of the charts. Plus500 CEO Asaf Elimelech said, “Having a flexible business model and a lean cost structure enables us to optimise our performance as necessary despite the recently announced regulatory changes. Having the industry leading framework enables us to be confident about the future.”

Elimelech was referring to the regulatory changes introduced this year by the European Securities and Markets Authority (EMSA). The new regulations brought a halt to trading of binary options and implemented limitations to CFDs designed to help protect investors.

A CFD is an investment vehicle that allows individuals to invest in a product without requiring them to own it. Despite the company’s skyrocketing value, Elimelech doesn’t anticipate that it will continue throughout the rest of the year. In its trading report, Plus500 commented, “We have since seen market conditions return to more normal levels in the last two months.” It added that the new rules implemented by EMSA could mean that “performance could be further impacted by the rate at which customers opt to be reclassified as professional investors.”

Plus500 was founded in 2008, offering a PC-based online trading platform. The company began to offer CFDs the following year, and launched a web-based version of its software in 2010. That same year, it also introduced trading in exchange-traded funds (EFT). It is licensed with the Australian Securities and Investment Commission (ASIC) and went public on the London Stock Exchange in 2013, launching Bitcoin CFDs shortly after.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
A cryptocurrency entrepreneur enters the mayoral race in Taipei

Cryptocurrency entrepreneur enters mayoral race in Taipei

In Taiwan, cryptocurrencies are met with a fair amount of skepticism. Regulators don’t support the digital currencies, but nor do they oppose them. The muddy waters could soon get a little clearer, as a cryptocurrency investor and entrepreneur has thrown her name into the hat to be Taipei’s mayor.

Cheng Yi-ting, CEO of the OTCBTC cryptocurrency exchange, announced her intention to run for mayor on April 13. The election will take place in November, and could see Cheng duking it out metaphorically with the independent incumbent as well as several candidates from the primary parties. Cheng is not backed by any party, choosing instead to run as an independent.

One of the candidate’s pitches is to raise the crypto industry in Taiwan. If she is able to garner enough support to win the election, she would be the first crypto entrepreneur to be elected as a political leader anywhere in the world. It could also mean a great future for the crypto industry. Lance Morginn, CEO of Blockchain Intelligence Group (BIG), said, “If a crypto exchange owner were elected, the policies that exchanges would be required to meet could be relaxed or tightened to favor their business objectives, depending on both the leader’s moral values and the checks and balances within the particular political structure.”

Cheng is a true supporter of the cryptocurrency evolution. The 35-year-old said that she feels that Taiwan has a good chance of becoming a world cryptocurrency leader. Her exchange has around 300,000 users, mostly in China, and a daily trading volume of the equivalent of $30 million.

“I think I can draw off my cryptocurrency expertise and tech background to connect the city. I’ve found that Taiwan’s politicians and candidates, when it comes to business and technology, are all disconnected,” she said.

Taiwan’s central government has already begun exploring if the cryptocurrency industry should be more tightly controlled, or if it should be liberalized. The country understands the benefits of opening it up, which would bring more jobs and support its FinTech sector, but also view the risks involved. Having a mayor such as Cheng onboard could help to persuade policymakers to continue the push toward greater adoption.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Japan pushes exchanges to drop altcoins favored by criminals

Japan pushes exchanges to drop altcoins favored by criminals

What do Monero (XMR), Dash (DASH) and Zcash (ZEC) all have in common? Apart from being rising altcoins, they’re three cryptocurrencies being targeted for removal from Japan’s cryptocurrency exchanges. That is, if the Financial Services Agency (FSA) has its way.

The FSA has quietly begun to put pressure on crypto exchanges to remove the digital currencies, assumed to be favorites for individuals looking for ways to launder money and to participate in other criminal activities. The FSA has begun to take measures designed to discourage trading on the exchanges of the altcoin. The decision comes, in part, following a report by Europol last September that highlighted the tokens as the favorites among the filchers.

The seedy underbelly of the cryptocurrency world is said to target the altcoins because they’re less traceable than others, such as Bitcoin (BTC). Many have accused the entire cryptocurrency industry as being a haven for criminal activity, a hypothesis that has been shot down by hard evidence.

The FSA asserts that it is virtually impossible to identify the source and destination information of transactions conducted over the altcoins’ blockchains, making them perfect for nefarious activities. Unlike BTC with its public ledger, they argue, investigators can’t follow the virtual paper trail in transactions conducted over several other blockchains. The agency points out that cyber criminals are increasingly turning to the altcoins when they conduct illegal sales or demand ransom payments.

Japan’s Coincheck cryptocurrency exchange was hacked on January 26, resulting in operations being suspended temporarily. After Coincheck came back online, it had removed the options to trade in XMR, DASH and ZEC by March. The FSA has warned that, while the coins aren’t prohibited, dealing in them could result in license applications being denied.

Following the January hack, which resulted in the loss of $534 million in cryptocurrency, the FSA cracked down on exchanges and implemented more stringent regulations. It ordered two cryptocurrency exchanges to shut down in March, and issued “business improvement orders” to five more.

BTC has been legal tender in the country since April of last year, but the move by the FSA this year has hampered future growth. Several exchanges and blockchain companies have already left the country; with others announcing that they were exploring their options.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.