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How You Can Spend Your Bitcoin Fortune wisely

How You Can Spend Your Bitcoin Fortune wisely

http://bargeldwillkommen.com/wp-content/uploads/2014/06/BellaVista_sample.jpgLet’s face it: Having only crypto will not make for a good life. And crypto now is high, very high. A correction is in the cards, so why not lock in the insane profits and convert it to something you can touch, see, feel and use? At  a bargain?

A friend of mine is offering this one-of-a-kind real state in the Caribbean, a true mansion, your neighbors will be Schmid from Google, and other hi-flyers. Cabarete, one of the six important surf and kite surf locations in the world is just 5 minutes by car.

He is very motivated to sell as he needs to go back to Europe to take care of his elder parents.

Go and have a look for yourself

Or here first a video:

 

Bitfinex Launches Distributed Banking Solution for Fiat Deposits

Bitfinex, the largest USD to Bitcoin exchange in the world, has been making headlines recently with their banking troubles. Fiat deposits on Bitfinex were officially halted for about a week, while simultaneously the Bitfinex subreddit is filled with complaints that fiat withdrawals are not functioning correctly, even though Bitfinex says fiat withdrawals never stopped working. Bitfinex launched a new distributed banking solution on 16 October 2018 and has restarted fiat deposits for USD, GBP, JPY, and EUR.

With the new system, users initiate a request to deposit fiat, specifying the exact amount of fiat they wish to deposit. The user’s account is then reviewed, and then they receive a deposit notification telling them where to deposit the fiat. The user then deposits the fiat, which is processed in 6-10 days. The minimum deposit is USD 10,000, and there is a deposit fee of 0.1%.

This distributed banking solution for fiat deposits sounds similar to the method used by Bitcoin dealers on LocalBitcoins for many years. Large Bitcoin dealers generally have accounts with multiple banks, often under many different names, and they tell their clients where to deposit fiat on a case by case basis. This sort of system is done to distribute deposits between banks so that the load on each bank account is minimized. If a Bitcoin dealer uses the same bank account for every deposit they usually have their accounts shut down since a huge volume of deposits from many different people is suspicious to the bank.

Bitfinex is the largest USD exchange in the world, so even if they distribute fiat deposits between numerous different banks, the volumes in each bank will likely be high enough to raise suspicions. This system might work for a temporary period at each bank, but there is a large risk of Bitfinex’s bank accounts getting closed sporadically. It seems Bitfinex is removing risk for themselves by putting a 6-10 day wait period to approve a fiat deposit, but that certainly does not remove the risk for their customers who could end up getting deposits stuck in limbo if the bank they deposit to freezes the bank account.

Bitfinex seems to welcome the challenges that will come from dealing with banks like this, saying “We believe this system to be significantly more durable in the face of sustained attacks by our competition and their supporters. Ongoing campaigns against us will only result in our company becoming stronger and better”. This is the same sort of attitude that Bitcoin dealers have when dealing with banks. Generally, as Bitcoin dealers lose bank accounts, they simply add more bank accounts under different names, generating a prolific underground network to send and receive fiat. It seems Bitfinex is on track to doing something like that.

This distributed banking solution launched by Bitfinex is certainly not ideal. It is better for a crypto exchange to have a solid banking relationship with a single bank, rather than trying to circumvent the system with many banks. Coinbase processes fiat deposits and withdrawals relatively quickly when compared to Bitfinex since it is compliant and follows all regulations. This makes the customer experience much less stressful and more efficient on Coinbase versus Bitfinex. Generally, the longest a fiat deposit or withdrawal should take is 3-5 days with ACH, and Bitfinex’s deposit system is much slower than that.

The price of Bitcoin on Bitfinex continues to be more than USD 300 higher than on Coinbase and Bitstamp as of 17 October 2018, suggesting that arbitrage mechanisms are not working. This indicates that fiat functionality on Bitfinex continues to be inefficient, since if it was efficient then arbitrage traders would bring Bitfinex’s Bitcoin price down to the global market price.

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First Bitcoin ATM Appears in India Despite Central Bank Crackdown

Despite the central bank’s crackdown on cryptocurrencies including Bitcoin in India, the country’s first Bitcoin ATM has been established in Bengaluru’s Kemp Fort Mall.

The ATM is for the exclusive use of local crypto exchange Unocoin’s clients, allowing users to deposit cash or withdraw money for future use on Unocoin’s website or smart device application.

The machines offer a way of circumventing the Reserve Bank of India’s (RBI) cryptocurrency crackdown, as Unocoin say they do not involve the country’s banking system in any way, hence do not fall under the jurisdiction of the central bank. While Unocoin accepts that standard Bitcoin ATM’s would be banned in the country under RBI guidelines, it believes that because they do not offer banking services technically speaking, its ATMs are exempt.

Some of the harsh restrictions that RBI has established include a prohibition of business relationships between lenders and digital currency exchanges and traders, leading to a decline in trading volumes, local cryptocurrency businesses suffering financially, and a general backlash from the whole, suffering industry in India.

Differing slightly from Bitcoin ATMs seen outside the country, Unocoin hopes to fill the vacuum left by banks retreating from offering crypto businesses and investors financial services. With each user given unique access keys to their account, they cannot purchase assets directly from the machine but need to access the website or app to complete the transaction. Its predominant use is to allow users to deposit their cash for later use on the site.

Right now, the machine can accept cash deposits between INR 1,000 and INR 10,000.

Two more ATMs from Unocoin are scheduled for launch in Mumbai and New Delhi later this week, adding to an overall estimated total of 3,879 cryptocurrency ATMs operating in 76 countries.

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PR: DAOstack Announces New $GEN Exchange Listing on Liquid by Quoine

Bitcoin Press Release: Blockchain startup DAOstack has announced the listing of its GEN token on Quoines new Liquid Exchange, starting October 9th, 2018.

October 11th, 2018, Gibraltar – The DAOstack collective attention token GEN, will be listed on Liquid, the newly-launched cryptocurrency exchange by Quoine, starting October 9th, 12:00 JST. GEN-ETH, GEN-BTC, and GEN-QASH trading pairs will be available to start, with GEN-fiat trading pairs available in the near future.

DAOstack is designed to be a kind of WordPress for decentralized autonomous organizations (DAOs), a new type of Web3-native organization that allows like-minded communities to act on shared goals or values without depending on concentrated power centers. The GEN token will soon link a network of DAOs built for a variety of purposes on the DAOstack platform.

DAOs using the GEN prediction network will be able to effectively filter proposals by their predicted chance of passing. This allows DAOs to remain values-aligned and efficient while scaling to potentially any size. GEN lets individuals both inside and outside the DAO lend their expert attention in exchange for a chance to profit and be rewarded for correct predictions.

GEN-based prediction is native within Alchemy, DAOstack’s first application for decentralized governance, whose Alpha release is currently live on the Ethereum mainnet. With a full release targeted for 2019, Alchemy will make it simple for DAOs of unlimited size to smartly allocate resources and voting power. A community of predictors is already active and growing, and its increasing size, expertise, and network effect will benefit all DAOs using Alchemy. Since predictors must hold GEN to stake on proposals, they have an additional incentive to help all GEN-connected DAOs achieve their goals.

DAOstack’s strategy for GEN includes many of the features that made Ethereum successful. For one, DAOstack is stimulating product and community development by channeling funds from its token sale through the Genesis DAO, the first DAO deployed using the DAOstack platform, created as a proof of concept and an open-source foundation for DAO development.

Also, like Ether, GEN has a highly generalizable utility, as Matan Field, DAOstack architect, and CEO, has pointed out:

“In the same way that ether is gas for the collective attention of computers, the GEN token is gas for the collective attention of human beings.”

With GEN’s listing on Liquid, DAOstack is excited to be taking the next step toward an open, growing ecosystem of decentralized organizations.

ABOUT Quoine

Quoine is a leading global fintech company that provides trading, exchange, and next-generation financial services powered by blockchain technology. With offices in Japan, Singapore, and Vietnam, Quoine combines a strong network of local partners with extensive team experience in banking and financial products to deliver best in class financial services for its customers. More information is available at www.quoine.com

In September 2017, Quoine Corporation became the first global cryptocurrency exchange to be officially licensed by the Japan Financial Services Agency. In September 2018, the two exchanges owned by Quoine, Quoinex, and Qryptos, were merged and relaunched as Liquid. Liquid will be powered by Quoine’s World Book, which provides customers with enhanced price matching and deeper liquidity for various fiat and cryptocurrency pairs. More information can be found at liquid.com

Learn more about DAOstack – https://daostack.io/
Read the DAOstack Whitepaper – https://daostack.io/wp/DAOstack-White-Paper-en.pdf
Join the Telegram – https://t.me/daostackcommunity
Follow on Facebook – https://www.facebook.com/daostack/
Follow the Twitter – https://twitter.com/daostack
Read on Medium – https://medium.com/daostack
Join on Reddit – https://www.reddit.com/r/daostack/

Media Contact

Contact Name: Andrey Sergeenkov
Contact Email: admin@btcpeers.com

Youtube: https://www.youtube.com/watch?v=25wtmzBG1Yg

DAOstack  is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.

Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The Era Swap token sale is closed to US participants and participants of all countries in which ICOs are illegal.

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PR: Cryptassist Announce Extension of their $37,000,000 Token Sale to 1st November, 2018

Bitcoin Press Release: Cryptassist announce details of their soon-to-end Token Sale, which will fund their Platform. Cryptassist simplifies the day to day use of cryptocurrency to truly make cryptocurrency ready for mass adoption, and has raised over $37m to date.

11th October 2018, Tallinn, Estonia: Knowledge is power, and giving power to the people is what Cryptassist is all about. The platform simplifies how cryptocurrency is used, enabling everyone to adopt digital money into their daily lives. Cryptassist helps to overcome the hurdles of mass-adoption by offering trading and spending solutions in a manner that is not only secure, but easy to use. The platform offers:

  • Advanced Deflation Model: Aside from having a limited number of tokens, the platform is designed to burn its native CTA token when transacted back into the platform for services rendered. This creates a deflation effect that increases the value of tokens as supply dwindles.
  • Debit Card: Accepting the top 50 cryptocurrencies, the card will convert the user’s choice of coin or token into CTA tokens and eventually into fiat to be used online or offline anywhere that accepts VISA, MasterCard and even at ATMs.
  • Licensed Exchange: As a fully licensed exchange based on spot trading, the Cryptassist Exchange will offer real time trading, crypto/fiat deposits and withdrawals; user friendly interface and continuous integration of cryptocurrencies to meet market demand.
  • CryptoGo: A location based game, CryptoGo will allow other platforms performing airdrops to link them to specific location and time. Gamers will need to be at the right location and right time to earn tokens – an innovative idea to increase traffic during events.
  • Multi Coin Block Explorer: Instead of using different block explorers to see their transactions of different coins and tokens, users can use one single block explorer to view them all through Cryptassist’s Multi Coin Block Explorer.

All of the above services can be accessed through a single login through a web browser or mobile.The platform uses the DAG algorithm for token transactions, giving it a block time of 15 seconds and 5000 transactions a second – demonstrating the commitment to true scalability.

Cryptassist CTA Token Sale

Cryptassist originally had completed its token sale, but by popular demand, it has reopened another round and the sale is live again. The softcap has been achieved and this means the project will go ahead with full development and production. The hard cap is set at $23,670,000 with 1 CTA = $0.38, with a 20% bonus available. The token sale runs until 1st November 2018, so interested backers should visit the website as soon as possible to get involved in the $37,000,000 token sale.

In line with their philosophy of making cryptocurrencies easy to use, the platform accepts contributions from the top 100 tokens (as listed on www.coinmarketcap.com) and fiat through bank wire and PayPal. Committed to a better world, Cryptassist will donate 1% of backing it receives to a yet to be announced reforestation project and another 1% to an ocean conservation organization.

Learn more about Cryptassist – https://www.cryptassist.io
Read the Whitepaper – https://www.cryptassist.io/assets/downloads/whitepaper.pdf
Chat on Telegram – https://t.me/cryptassistcoin
Follow Cryptassist on Twitter – https://twitter.com/cryptassistcoin
Check out the Cryptassist Medium – https://medium.com/@cryptassistcoin
Connect on on LinkedIn – https://www.linkedin.com/company/cryptassist
Follow on Facebook– https://www.facebook.com/CryptAssistCoin

Media Contact Details
Contact Name: Niki Lin
Contact Email: niki@cryptassist.io

Cryptassist is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The Cryptassist token sale is closed to US participants and participants of all countries in which ICOs are illegal.

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BitcoinNews.com Daily Podcast 15th October 2018

Listen to the 15 October 2018 BitcoinNews.com Daily Podcast below.

On this edition of the BitcoinNews.com Daily Podcast, we discuss the Great Firewall of China which slows down the entire Bitcoin network, and a new country formed in Syria which is considering using Bitcoin and blockchain. Learn about how whales stabilize the Bitcoin market. Hear about a hacker who livestreamed a 51% attack on an altcoin.

Follow the Bitcoin News Daily Podcast on AnchoriTunesSpotifyGoogle PodcastsStitcherRadio PublicPocket CastsOvercastCastbox, and Breaker. We broadcast a new episode every day, covering the most important topics in the crypto, Bitcoin, and blockchain world!

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PR: Crypto Exchange CoinCola Announces Partnership with Dash – Launches in Venezuela

Bitcoin Press Release: Hong Kong-based cryptocurrency exchange CoinCola has chosen Venezuela as their first new market. Best known for its peer-to-peer OTC cryptocurrency platform, CoinCola allows traders to buy and sell bitcoin using their local fiat currency.

October 11th, 2018. Hong Kong. The exchange will also enter a strategic partnership with Dash in a bid to increase the flow and accessibility of digital currencies in the Latin American country. As part of the partnership, CoinCola will be adding the Dash coin to their OTC platform and offer a 0% trading fee for all dash transaction until October 31st, 2018. Venezuelan traders can also earn 50% commission for trades completed through the CoinCola Refer a Friend program.

On the partnership with Dash, CoinCola Founder and CEO Allan Zhang, said:

“CoinCola is averaging 100,000 transactions every month on our platform. We are the second largest public OTC platform in the world by transaction volume and at this time 95% of total transactions are from Asia. With our partnership with Dash, we will be truly global. We decided to partner with Dash because it is the most efficient digital currency for payments, offers the lowest fees, and provides ‘InstantSend’ technology. Dash represents a strong presence in Venezuela, Latin America, and the rest of the world. We are very selective in with which coins we list to our platform and we are proud to now offer Dash to Venezuelan users.”

Dash, through its instant digital cash payment mechanism, has established a growing presence in Venezuela with over 1,450 merchants including grocers, restaurants and retail outlets accepting the cryptocurrency. The organisation’s ‘Dash Treasury DAO’ – a decentralized investment fund – has granted over $33 million-worth of dash since 2015. Together with Dash, CoinCola is aiming to increase the adoption of cryptocurrencies in Venezuela by facilitating safe and secure trading at a low cost.

Venezuela’s rapid rate of inflation has rendered the national currency almost worthless, with citizens facing severe shortages of amenities such as food and medicine. Cryptocurrency adoption in Venezuela – Dash in particular – has surged as the country looks towards a more transparent and stable means of storing and exchanging capital. With both OTC and coin-to-coin pair trading, competitive fees and additional incentives for local users, CoinCola is aiming to bring much needed accessibility and diversity to the Venezuelan cryptocurrency market.

About CoinCola

CoinCola is a Hong Kong-based cryptocurrency exchange offering both over the counter (OTC) trading and coin-to-coin pair trading in one integrated platform. They offer fast, secure and easy-to-use trading services at competitive fees. The CoinCola OTC Marketplace allows people around the world to use their local fiat currency to buy and sell bitcoin (BTC), ethereum (ETH), dash (DASH), litecoin (LTC), tether (USDT) and bitcoin cash (BCH). Trading is done on a person-to-person basis and transactions are completed via secure online escrow. The CoinCola Exchange allows users to expand their portfolio by trading one digital currency for another. CoinCola offers bitcoin (BTC) and tether (USDT) as base currencies and supports a growing list of crypto-to-crypto trading pairs. The CoinCola mobile app allows users to stay on top of the markets and securely access their account on the move.

About Dash

Dash is the leading e-commerce and payments-focused digital currency, and the rising alternative to bitcoin. Experiencing significant growth since its beginnings in 2014, Dash is now accepted at more than 3,000+ merchants, including 1,450 in Venezuela, in addition to being accessible via 400+ ATMs and 90+ exchanges worldwide- making it one of the few offering safe, decentralized financial solutions to real world problems. Dash offers a form of money that is portable, inexpensive, divisible, and fast. It can be spent easily and instantly online at merchants across the globe, at much lower fees than credit and debit cards. With over 60 members on the core team and a unique blockchain mining and treasury model, Dash is the only major self-funded, self-governed organization in the cryptocurrency industry. This allows for constant development and funding for the entire project.

CoinCola website: www.coincola.com
Telegram: https://t.me/coincolainternational
Facebook: https://www.facebook.com/CoinCola/
Twitter: https://twitter.com/CoinCola_Global

Dash website: www.dash.org
Telegram: https://t.me/dash_chat
Facebook: https://www.facebook.com/DashPay/
Twitter: https://twitter.com/dashpay

Media Contact
Name: Petra Thach
Email: Petra.thach@coincola.com

CoinCola is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

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Former Top US Commodities Regulator Says ICOs Should Be Treated Like Securities

A former chairman of the Commodity Futures Trading Commission (CFTC) has said that Initial Coin Offerings and their tokens should be treated as securities, according to a Bloomberg report. While the debate on whether or not cryptocurrencies should be treated as securities has been going on for a while in the US, the regulators are seemingly sticking to their point of view.

Gary Gensler, a former chairman of the CFTC made these comments while acknowledging the unique nature of cryptocurrencies. When asked whether blockchain technology should be regulated, he said that the commissions should be technology-neutral but investor protection within each community needs to be ensured, even in the case of cryptocurrencies.

Gensler said:

“I think that cryptocurrencies like Bitcoin (BTC) need more protection, and probably more protection than even the oil markets.”

While Gensler believes that overregulation is not the answer, he still insists that legislation like “traffic lights and speed limits” need to be ensured on crypto roads. His statement is quite similar to earlier statements from former and present regulators in the country.

SEC Senior Advisor for Digital Assets and Innovation Valerie A. Szczepanik said before:

“If you want [the crypto] industry to flourish, protection of investors should be at the forefront.”

But, SEC Chairman Jay Clayton has also gone on to say that a distinction between top cryptocurrencies like Bitcoin, Ethereum, Ripple, Dash, etc and normal ICOs need to be made. While ICOs need to be treated as securities, these popular cryptocurrencies may not be treated as such.

But, one thing is crystal-clear, that any ICO making forays in the cryptocurrency are likely to be treated as securities by the regulators for the time being.

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Blockchain for Fair Distribution of Housing, Kenya’s Promise in the Aftermath of Large-scale Corruption

Turning to blockchain in attempts to fight corruption, Kenya has stated that it has faith in emerging technologies to tackle the issues of theft and misuse of public funds.

The Kenyan government’s new housing project, in which it has plans to publicly fund the building of 500,000 living units raises sceptical eyebrows amongst the population, with good reason.

The figures that illustrate the degree of corruption at governmental level make sorry reading, with public departments taking bribes at an alarming rate. A recent Ethics and Anti-Corruption Commission (EACC) report published this month, indicated that the numbers of those paying bribes to receive a range of government services have risen to 62% from 46% over a period of two years.

The recipients of bribes from the public include local elders with 17% of respondents to a recent survey saying that they have been forced to pay bribes to community heads. The police were high on the list at 16%, and other services and departments taking bribes included the Registrar of Persons, the County Health Department and the National Ministry of Land.

The new housing sector comes with its own set of problems though, and also a history of corruption following a National Youth Service scandal, in which 40 civil servants and 14 private sector officials were arrested for the theft of $78 million from the project’s funds. However, the Government is now planning to put a halt to the rising figures of corruption and misappropriation of funds lost to such projects by employing blockchain in its latest move.

The Kenyan Distributed Ledgers and Artificial Intelligence Task Force was established earlier this year to focus on blockchain and how the technology could be utilized to improve outcomes in the public sector. The group included local blockchain startups, experts, researchers and members of Kenyan regulatory bodies.

Speaking at a recent meeting on affordable housing with the World Bank in Nairobi, Housing and Urban Development Principal Secretary, Charles Hinga, said, “Kenya will use blockchain technology to ensure the rightful owners live in government-funded housing projects.”

The National Housing Fund under the Finance Act of 2018, to which Kenyans contribute 1.5 percent of their salary, will be responsible for the new blockchain-backed building project, with further financial support from employers.

In June, decentralized liquidity network Bancor, in partnership with the non-profit foundation, Grassroots Economics, launched a network of blockchain-based community currencies in Kenya aimed at combating poverty. The project seeks to stimulate local and regional commerce and peer-to-peer activity by enabling Kenyan communities to create and manage their own digital tokens.

Recently, Kenyan Distributed Ledgers and Artificial Intelligence task force chairman Bitange Ndemo said that the government should consider tokenizing the economy to deal with “increasing” rates of corruption and uncertainties.

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Coinbase Secures Ireland Office as Brexit Safety Net

On Monday, major cryptocurrency exchange Coinbase announced the opening of a new office in Ireland’s capital of Dublin. The move is said to prevent any risks to the company associated with the UK leaving the European Union (EU).

With the UK scheduled to break off from the EU and possibly its entire regulatory framework, Coinbase has been forced to relocate its European hub from its London offices, although the London branches will remain in place to service the UK. According to Coinbase, the EU was its fasted growing market in 2017 and Ireland was most well equipped to provide the expertise needed to take this on.

Ireland’s Minister for Financial Services and Insurance, Michael D’Arcy T.D, praised the cryptocurrency exchange’s decision, saying it is a reflection of the country’s growing competitiveness in the financial services industry.

Speaking to UK-based news outlet the Guardian, Coinbase’s UK CEO Zeeshan Feroz said that in the case of a so-called hard Brexit that sees the UK leaving the European Customs Union, the exchange cannot risk not being able to provide the same level of service to customers located in Europe.

Feroz added that in addition to providing a Brexit contingency plan, the Dublin office will be well-placed to benefit the burgeoning Irish cryptocurrency economy and provide a number of skilled tech jobs, alongside growing the national technology sector.

While the Dublin branch assuming the role as EU leader may come as a blow to the UK, Feroz believes that there is a way the government can make Brexit work in its favor for the cryptocurrency industry.

”I am of the view today that there is an opportunity for Britain post-Brexit to perhaps take the lead in offering “balanced regulation” for the sector,” he told the Guardian, adding “In general, and outside of Brexit, I think crypto should be regulated as a service. There are businesses out there like ours that handle billions of dollars or pounds every day.”

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