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Japan to Call for Crypto Rules at the G20 Summit
Next week, on the G20 meeting in Argentina, Japanese representatives will push for the adoption of global rules on cryptocurrencies. The meeting will gather finance ministers and central bankers to put crypto matters on the table. The Japanese authorities were among the first to adopt a regulatory framework with a mechanism to oversee trading on registered cryptocurrency exchanges. Their new initiative aims at implementing international guidelines for the quickly developing crypto industry.
Read more here
Binance Is Launching Its Own Blockchain
Yesterday, the Binance CEO, Changpeng Zhao said that a decentralized exchange will be launched and will operate alongside with its existing exchange. In addition to facilitating the trade of digital assets, the DEX will likely operate as a launchpad for new coins and ICOs. A post on Twitter reads:
"As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community."
Read more here
Coinbase Receives E-Money License from UK Financial Regulator
The U.K.'s Financial Conduct Authority granted Coinbase an e-money license. The license now enables the company the ability to provide payment services and issue digital cash alternatives, which can then be used to make card, internet or phone payments. A Coinbase spokesperson clarified that e-money is different from cryptocurrencies. As such, the license comes with stringent regulations designed to protect customers. The statement reads:
"We are committed to making sure customer funds are always secure and this update means that our e-money operations have safeguards and operational standards at par with other regulated financial institutions. An example of this is segregation of client funds, where all customer fiat balances will be separated from Coinbase's funds and kept in separate bank accounts."
Read more here
Paytomat - Deflating the Bubble
As prices continue to skyrocket in the crypto market, the future of cryptocurrencies and blockchain technology seems bright. However, the long-term success of the cryptocurrencies depends largely on their long-term adoption as a global payment system. Paytomat is a platform that incentivises transactional usage of cryptocurrencies through its built-in infrastructure and services. The team aims to kickstart crypto mass adoption by making it easier for merchants to accept cryptocurrency payments and by providing customers with additional incentives. The following analogy, taken from Paytomat’s white paper, describes their goal perfectly:
“Like the body weakened by the disease, the blockchain economy still has a sufficient internal immune system to gradually fight back, tear away its toxic assets and eliminate get-rich-quick-and-forget-it-all projects out of the system. However, to achieve this objective, it should get permanent and sufficient nutrition from cross-pollinating with the real economy. That is why at Paytomat we are working day-by-day to bring real-life transactions to your blockchains and to ‘deflate the bubble’, slowly but decisively.”
Read more here
Next week, on the G20 meeting in Argentina, Japanese representatives will push for the adoption of global rules on cryptocurrencies. The meeting will gather finance ministers and central bankers to put crypto matters on the table. The Japanese authorities were among the first to adopt a regulatory framework with a mechanism to oversee trading on registered cryptocurrency exchanges. Their new initiative aims at implementing international guidelines for the quickly developing crypto industry.
Read more here
Binance Is Launching Its Own Blockchain
Yesterday, the Binance CEO, Changpeng Zhao said that a decentralized exchange will be launched and will operate alongside with its existing exchange. In addition to facilitating the trade of digital assets, the DEX will likely operate as a launchpad for new coins and ICOs. A post on Twitter reads:
"As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community."
Read more here
Coinbase Receives E-Money License from UK Financial Regulator
The U.K.'s Financial Conduct Authority granted Coinbase an e-money license. The license now enables the company the ability to provide payment services and issue digital cash alternatives, which can then be used to make card, internet or phone payments. A Coinbase spokesperson clarified that e-money is different from cryptocurrencies. As such, the license comes with stringent regulations designed to protect customers. The statement reads:
"We are committed to making sure customer funds are always secure and this update means that our e-money operations have safeguards and operational standards at par with other regulated financial institutions. An example of this is segregation of client funds, where all customer fiat balances will be separated from Coinbase's funds and kept in separate bank accounts."
Read more here
Paytomat - Deflating the Bubble
As prices continue to skyrocket in the crypto market, the future of cryptocurrencies and blockchain technology seems bright. However, the long-term success of the cryptocurrencies depends largely on their long-term adoption as a global payment system. Paytomat is a platform that incentivises transactional usage of cryptocurrencies through its built-in infrastructure and services. The team aims to kickstart crypto mass adoption by making it easier for merchants to accept cryptocurrency payments and by providing customers with additional incentives. The following analogy, taken from Paytomat’s white paper, describes their goal perfectly:
“Like the body weakened by the disease, the blockchain economy still has a sufficient internal immune system to gradually fight back, tear away its toxic assets and eliminate get-rich-quick-and-forget-it-all projects out of the system. However, to achieve this objective, it should get permanent and sufficient nutrition from cross-pollinating with the real economy. That is why at Paytomat we are working day-by-day to bring real-life transactions to your blockchains and to ‘deflate the bubble’, slowly but decisively.”
Read more here