South Korea Creates Gyeongbuk Coin for Gyeongsangbuk-do Loyalty Scheme

China may be doing all it can to suppress cryptocurrencies, but South Korea is going the opposite way. Specifically, in its Gyeongsangbuk-do Province. But what’s going on? Well, according to sources, officials are partnering with blockchain startup Orbs to create a province-specific coin called the Gyeongbuk coin.

But why?

South Korea’s Gyeongbuk Coin

The province is issuing the Gyeongbuk coin to replace an already existent state loyalty scheme — the already existent “Hometown Love Gift Cards”. South Korean legislators are making this move to further integrate cryptocurrency across the nation.

100 billion ...

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Venezuelan Banks Must Accept Petro – Maduro Introduces New Economic Reforms

Two days ago, Venezuela’s President — Nicolás Maduro, ordered the nations banks to adopt the Petro digital currency, so now Venezuelan banks must accept Petro.

In a bid to reform the nation and alleviate the current Venezuelan economic crisis, Maduro is trying to get the Petro coin recognized as Venezuela’s second currency and now banks within the nation must accept the coin.

The hope is that by fixing the nation’s fiat currency to the newly created Petro, financial stability will be possible.

Venezuelan Banks Must Accept Petro

Venezuela’s economic situation is dire. ...

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Bitmain’s BTC.com is Launching an Ethereum Mining Pool

Bitmain Adds Ethereum Mining Pool: The world’s largest Bitcoin mining pool is cheating on Bitcoin. Bitmain’s BTC.com is expanding to add an Ethereum mining pool which will initially support both Ethereum and Ethereum classic. 

Users will now be able to switch their hashing power from one pool to another, in light of whats happening in the market.

Bitmain Adds Ethereum Mining Pool

The announcement was made earlier today from BTC.com, which has earned its place as the largest Bitcoin mining pool in the world, having mined 21% of all Bitcoin blocks last year.

...

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The Crypto Fraud that Promised Investors Shipwreck Gold

Cryptocurrencies transformed the way we glance at transactions, but against the grain, they have also encouraged cybercriminals to lead some massive frauds over the past few years. While the cleverest minds have developed some beyond-belief organizations upheld by the might of blockchain and cryptocurrencies, wicked minds have also pounced on the furor, defrauding innocent investors in complex scams.

Do you know about the Shinil Group scam that took place last month, in which investors were tricked into investing in their cryptocurrency?

The Shinil Group Scam

The most recent attack was reported by JoongAng Daily ...

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China’s Ban on Crypto Continues – Guangzhou District Hit

China’s ban on crypto continues across the country as the Guangzhou Development District is next to be hit. 

What’s going on?

China’s Ban on Crypto Continues

Last week, a very similar ban was imposed in Beijing’s Chaoyang district, whereby venues were handed out fliers detailing a prohibition against commercial venues hosting crypto-related events. Venues such as hotels, bars, and clubs were targeted.

Now today, local media outlet Jiemen has reported that the same ban has been extended to the Guangzhou Development District — a special economic zone in southern China, close to ...

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What the Experts Want You to Know About Buying Bitcoin

Over the past few years, more and more investors have decided to enter the Bitcoin market. There is no doubt that cryptocurrencies have gained in popularity. At the same time, their prices have climbed higher and higher. Bitcoin has been at the forefront. This digital currency has really paved the way for other coins. Still, a lot of investors are worried about investing in Bitcoin. They do not believe that it is going to be a profitable investment in the long run. Within this guide, the experts will provide readers with insight into buying and trading Bitcoin.

...

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Bithumb Will Re-open Account Registrations!

The second largest South Korean cryptocurrency exchange, Bithumb will reopen account registrations after a month of closure.

The reason is down to the exchange regaining its partnership with Nonghyup (NH) Bank.

Bithumb will Reopen Account Registrations

In South Korea, crypto exchanges must provide virtual bank accounts so users can withdraw and deposit Korean won without having to go through their banks. This is for efficiency and security.

And on August 30th, NH Bank, one of South Korea’s largest financial institutions, will sign an agreement with Bithumb to provide these virtual bank accounts ...

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Spacebit Exhibits at the Prestigious Farnborough International Airshow

The Farnborough International Airshow is the UK’s biggest aerospace event featuring many announcements across the UK space industry. The 2018 event included a number of interactive talks exploring a range of space topics with participants from the UK Space Agency, NASA, and the European Space Agency. The UK strategy is to promote the value of space-based services in the broader economy, to increase exports and to attract investment. Many of the companies who attended Farnborough—which ran from July 16th to July 20th—were marketing nano-satellites, launching services, and offering communications and data analytics.

Spacebit was the first ...

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Kingdom Trust Secures Crypto Insurance From Llyod’s of London

Digital asset minding company Kingdom Trust, announced today that it has secured insurance coverage through Lloyd’s of London. The insurance is to protect investor assets against theft, destruction, and loss.

Kingdom Trust is a qualified custodian of over 30 cryptocurrencies and holds assets valuing $12 Billion USD.

Mainstream Involvement

The announcement today has made investors sit up, as it is seldom that mainstream financial institutions have an involvement with the volatile and unregulated crypto industry; large banks rarely, if ever, handle cryptocurrency and well-renowned auditors tend to keep it ‘hush-hush’ if they ever get ...

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ICON Surges This Week – Growing 25%

Some Altcoins made surprising moves this week. In particular, ICON jumped 25% in the last 7 days.

This is interesting because when looking at the coin leaders, their actions remained relatively flat; Bitcoin kept finding its way back to somewhere between the $6,700 and $6,750 marks, with the latter being the highest the coin achieved across the week. No major movements happened.

But at the same time, ICON (ICX) was doing this:

What is ICON?

ICON is a favorite of South Korea and is often dubbed the nations version of Ethereum. Over ...

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Hollywood’s Steve Stanulis Finds Inspiration with Cryptocurrency

Steve Stanulis, a decorated retired New York City police officer and award-winning Hollywood actor/director, has recently taken to cryptocurrency and has used it to help inspire one of his upcoming films entitled ‘Red Money.’

We sat down with Steve to learn more about his thoughts on crypto, his upcoming films, and if he thinks the entertainment industry will start paying actors and other crew members with forms of crypto in the future instead of regular US currency.

What were your original motivations for getting into the entertainment industry?

My story is a ...

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Brian Kelly ETF Prediction: Approval Will Be Most Likely In February 2019

Another Brian Kelly ETF prediction surfaced yesterday. In an interview on CNBC’s Fast Money, the crypto-analyst stated that an approval for a Bitcoin Exchange-traded fund (ETF) was most likely to come in February 2019.

Brian Kelly ETF Prediction 2

But why February? That is quite specific, isn’t it?

Well, according to Kelly, in July the SEC postponed its decision on two high-profile BTC ETF applications from investment firm VanEck and financial services company SolidX, to September.

But the Government regulator has, in fact, the option to defer its final decision again until ...

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Autonio’s NIO Token Listed on Bitfinex and Ethfinex Exchanges

The cryptocurrency exchanges Bitfinex and Ethfinex have both announced today that Autonio’s NIO token is now available for trading on their platforms. NIO has been listed on their exchanges after being awarded first place on the Ethfinex’s most recent community listing vote. Ethfinex hosts a community vote allowing participants to vote on exchange listings on the project of their choice. The top three projects from the vote undergo a due diligence check by the exchanges and are then available for trading.

Co-Founder of Autonio, Ali Raheman commented on the new exchange listings:

“We’re very ...

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Bitfinex and Ethfinex List New Coins: Autonio (NIO), Banyan Network (BBN), and Digix Gold (DGX)

Both Bitfinex and Ethfinex have just announced that they have added three new coins to their platforms today: Autonio (NIO), Banyan Network (BBN), and Digix Gold (DGX).

Bitfinex

The world’s fourth-largest cryptocurrency exchange by its trade volume has just added three new coins to its platform. The cryptocurrency exchange was founded back in 2012 in Hong Kong and is currently registered in Hong Kong and the British Virgin Islands.

Trading has been enabled for Banyan Network (BBN) against ETH & USD. @BanyanNetwork pic.twitter.com/yehd5WBpTh

— Bitfinex (@bitfinex) August 23, 2018

Trading ...

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China Banning Cryptocurrency Events – Further Bans Expected

Why is China banning cryptocurrency events? The country has put in place a ban on venues hosting all events related cryptocurrency in the Chaoyang district of Beijing.

China Banning Cryptocurrency Events; What’s Going On?

The report comes from the local news outlet, The Paper, which states that all public spaces have been prohibited from hosting cryptocurrency-related events. This includes shopping malls, office buildings, and hotels, where documents detailing the ban were issued.

Restrictions

Japanese media also reports that these new restrictions coincide with other measures targeting communication channels used by Chinese investors to gain ...

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Despite its Hack, Bithumb Made $35 Million in Q1 and Q2 of 2018

Bithumb made around $35 million USD for the first half of 2018, despite its recent hack, says local South Korean local news agency Yonhap.

Bithumb Success

Despite its hack back in June of this year, the South Korean crypto exchange came out on top the first half of 2018. “The sales amounted to 33,060 million won, and the operating profit was about 2,186,330 million won,” the journalist at Yonhap wrote.

Last year, however, the exchange made 427.17 billion won in 12 months. The company’s figures for just Q1 and Q2 of 2017 are unavailable ...

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SEC Rejects Nine Bitcoin (BTC) ETF Proposals

The US Securities and Exchange Commission (SEC) has rejected nine applications for Bitcoin ETF proposals. The SEC published three separate orders yesterday, highlighting the rejections from the three different applicants.

SEC Says No to Bitcoin ETF Proposals

This ruling is a blow to Bitcoin bulls who’d hoped the products would have provided a breakthrough for institutional adoption. Last night, the SEC published its rejection of two proposals from ProShares, two from GraniteShares, and five other products from Direxion.

The rejections come just one day ahead of the deadline stipulated for a pair of Bitcoin ...

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