Late 2017 will long be remembered as the time when bitcoin went mainstream. Prices were mooning, and the general atmosphere was one of fear of missing out. That sentiment was especially true in trading circles, and more traditional outlets were experimenting with cryptocurrency divisions in order to take advantage. One such experiment went sour, as a trader attempted to play upon relative company ignorance by shorting bitcoin and covering personal margin calls, with the affair ending in million dollar losses and a first of its kind federal prosecution.

Consolidated Trading, LLC’s Joseph Kim, according to federal authorities, emailed, “Until the end I was perversely trying to fix what I had already done. I can’t believe I did not stop myself when I had the money to give back, and I will live with that for the rest of my life. You have every apology I have to give, I am sorry to betray you all like this.”

John R. Lausch Jr, United States Attorney for the Northern District of Illinois in conjunction with the Federal Bureau of Investigation (FBI), insists Mr. Kim “worked as an assistant trader for…a Chicago trading firm that recently formed a cryptocurrency group to engage in cryptocurrency trading…Over a two-month period in the Fall of last year, Kim misappropriated at least $2 million of the firm’s Bitcoin and Litecoin cryptocurrency for his own personal benefit, and he made false statements and representations to the company’s management in order to conceal the theft.”

According to reports, Mr. Kim had previous experience in cryptocurrency by way of working in South Korea for a time after graduating from the prestigious University of Chicago. He joined Consolidated in the Summer of 2016 as an assistant bond trader. Employees describe him as having gone by the online name “degen,” as in ‘degenerative gambler’.

It’s the first federal criminal prosecution of its kind in Chicago, and Mr. Kim, 24, is being charged with one count of wire fraud punishable by up to 20 years in prison. U.S. v. Kim, 18-cr-107, states “from September through November 2017, Kim transferred more than $2 million of the trading firm’s Bitcoin and Litecoin to personal accounts to cover his own trading losses, which had been incurred while trading cryptocurrency futures on foreign exchanges.”

Learn more: https://news.bitcoin.com/trader-at-chicago-firm-stole-millions-in-btc-faces-20-year-sentence/

Геймер? Какой цифровой актив или внутренний предмет коллекционирования хотите видеть на нашей платформе?

Создатель контента? Желаете продать цифровую собственность или авторские права?

Компания? Какую токенизированную награду собираетесь предложить своим клиентам?

https://opencollectors.network/

Ого, не знал что Pillar уже занимаются венчурным финансированием. Это косвенно говорит, что у них есть  здоровые излишки по бюджету, которые могут вкладывать в иные компании. Сегодня состоится показ обновленной версии Demo кошелька Pillar. Обещают представить новые обменнники, недавно нанятых членов команды, ответить на вопросы сообщества. Событие состоится в 17.00 по бриткнскому времени, пятница.

Just 6 hours left, until updated PillarDemo  will be shown. Also they are planning to introduce new exchanges, show recently hired team members. The show will be held at  5pm UK time Friday. Don`t miss it.

https://www.brighttalk.com/webcast/16227/301021

Всего на баунти кампанию выделено 2 миллиона ECTO  монет.

Подписная и Аватар кампании : 20%
Телеграм Баунти: 5%
Reddit Баунти: 5%
Написание статей и блогов : 10%
Twitter + Facebook  (15% for twitter and 15% for Facebook) : 30%
Youtube Баунти: 10%
Другие: 10%

https://bitcointalk.org/index.php?topic=2929885

СОЗДАВАТЬ

Любой может создать уникальный и оригинальный токен, основанный на существующем стандарте ERC721. Для этого предоставлен удобный пользовательский интерфейс, либо общепринятый REST/Json API для продвинутых сценариев.

Можно установить правила взаимодействия между вашим токеном, и другими подобными. Это прекрасная возможность для любителей создавать кастомные токены.

Уже существует ряд токенов, которые соответствуют интерфейсу, и могут торговаться на нашей платформе:  Decentraland, CryptoKitties и CryptoPunks. Мы предвидим, что в недалеком будущем сторонними командами будет создана масса подобных проектов, и эти монеты смогут свободно торговаться на платформе Open Collectors Network.

Таким образом, наводятся мосты между блокчейн технологией и обычным пользователем. Платфома предлагает интуитивно понятный интерфейс и задание собственных уникальных характеристик вашего токена (что предотвращает дубликаты). Это гарантируется посредством сложных, специально разработанных алгоритмов, подробно описанных в белой бумаге.


ТОРГОВАТЬ

Поскольку популярные монеты  растут в цене со временем, они могут быть предложены на открытом и децентрализованном рынке различным способом: по фиксированной цене, различные виды аукционов, прямой обмен на другие монеты (swap).

Платформа предлагает торговый функционал следующих видов: поиск токенов, связь с владельцами монет (с опциональными ограничениями), рейтинг самых популярных или дорогих монет, история, работа с ордерами и многое другое.

Основное преимущество в использовании единого реестра хранения Open Collectors Network – увеличение доверия при покупке актива. Поскольку данные о собственнике хранятся в реестре, это делает неоспоримым подлинность торгуемых активов.

Наша площадка намерена стать первой биржей, где можно создавать, покупать и продавать уникальные цифровые активы или токены.


НАГРАДА И ЛОЯЛЬНОСТЬ

В дополнение, наличие ECTO токенов в кошельке дает несколько преимуществ, в соответствии со специальным алгоритмом Proof-of-stake (доказательство долей владения).

- Скидки на все операцииа
- Право голоса для функционала, который следует развернуть на платформе в первую очередь.
- Airdropы, проходящие с определенной периодичностью, в форме ECTO токенов, в зависимости от активности пользователя на платформе и суммы хранимых ECTO ( 25% активности, 75% ETCO баланс)

Активность пользователя измеряется в отношении общей активности всех пользователей платформы.
Доля ECTO соотносится с суммой ECTO находящихся в кошельке пользователя на момент подсчетов.
Ко времени продажи токенов, этот механизм будет полностью прописан в смарт контракте, для обеспечения прозрачности и подотчетности.







КОМАНДА

Andrei Dan Singeorzan ( Сооснователь) – Менеджер по развитию @ Ivanti
Ion Cosmin Grigore (Сооснователь) – Разработчик ПО @ Ivanti
Grant Tiller – Директор по управлению разработкой  @ Ivanti
Florin Stefan – Менеджер по обслуживанию @ Stefanini
Daniel Taivan – Менеджер обеспечения качества @ Stefanini
Iulian Andei Popescu – Старший разработчик ПО @ Ivanti
Florentina Marina Grigore – Разработчик ПО@ ING
Spasenie Alexandru - Android разработчик @ Stefanini
Stefan Mihai Stanescu – Старший юрисконсультант@ SCP Stoica & Asociatii


СОВЕТНИКИ

Sabin Girlea – Операционный директор @ Stefanini
Cristian Tamas – Старший менеджер компании eSports @ Twitch
Mike Boutwell - Основатель @ cryptoadvisors.io, советник в области Blockchain @ Spectre & NNBU
Dylan Senter - Сооснователь @ Spectiv
Laura Toma - Сооснователь @ Renowed&Co, Консультант по маркетингу@ AmaZix
Reinhard Brongers – Старший программный архитектор @ Ivanti
Alexandru Savulescu - Основатель @ Retrotech

A new poll of IT mangers at large UK businesses found that exactly half keep stockpiles of cryptocurrency for various reasons. Unlike what some might imagine, only a very small fraction of the companies that are holding bitcoin claim to be doing so as preparation for a ransomware attack.


A new research commissioned by software developer Citrix (NASDAQ: CTXS) has found that 50% of large British businesses have stockpiles of cryptocurrency. The study, which was carried out in partnership with One Poll, surveyed 750 IT decision makers within large UK businesses of 250 employees or more. It found that those businesses hold an average of 24 bitcoins each. Out of those companies, just 7% are investing in bitcoin alone and 93% in a more diverse portfolio of cryptocurrencies. 54% have bought litecoin, 43% ethereum, 33% Ripple’s XRP, and 29% dash.

The research also reveals that 57% of those holding bitcoin sold off part of their stash around the December 2017 highs. The study shows that another 38% of these are considering making a sale these days. Just 5% have no current intention to sell their bitcoins.

As for the main reasons for holding such a portfolio, 40% say they plan to use the cryptocurrencies to pay providers, while 32% are aiming to pay their employees with them. Additional plans include using cryptocurrencies together with smart contracts or other blockchain technologies (27%), as part of fundraising (21%), and to pay for training, R&D or other demonstrative activities (17%).

More info - https://news.bitcoin.com/half-large-british-businesses-hold-stockpiles-cryptocurrency/

Think of cryptocurrency developers and names like Satoshi Nakamoto, Gavin Andresen, and Nick Szabo spring to mind. Individuals who place principles ahead of profit and are more aligned with open source principles than filing patents and closely guarding their secrets. The only secret Satoshi guarded was his identity. It may come as a surprise then to learn that in the last decade, the company that has more cryptocurrency patents than any other is in many bitcoiners’ eyes the antithesis of everything decentralized currency stands for – Bank of America.

Since Bitcoin’s genesis block was mined nine years ago, over 2,000 related patents have been filed, Bitcoin Patent Report reveals. In the cryptocurrency’s early years, the number of patents was low, averaging under 50 a year, but by 2015 that figure began to pick up and by 2016 was growing exponentially. Some of the companies whose names feature in the top ten are to be expected, such as Bitflyer and IBM, whose interest in blockchain is well documented. The computing giant has filed a total of 34 cryptocurrency related patents, but is outplaced by South Korean brokerage Coinplug, which is third on the list with 39.

Some entrants on the list are unexpected, either because they have publicly expressed little interest in cryptocurrency, or are not commonly associated with cutting edge technology. It makes sense that Mastercard would have an interest in digital payment systems, for example, but it is surprising to see them ranked ninth for cryptocurrency related patents, with 21 filings. The greatest surprise of all is reserved for top spot, which is claimed by Bank of America, with no less than 45 patents. Last year, a total of 1,250 cryptocurrency patents were filed, demonstrating the extent to which corporations have finally caught on to bitcoin’s huge potential.


A patent grants its holder exclusive rights to an invention, such as a piece of technology, for a certain period of time. While designed as a means of protecting the intellectual property of inventors, the system is not without its critics who believe that patenting deters innovation and wastes resources. For example, companies may apply for overly broad patents and then use skilled lawyers to prevent anyone from encroaching on them. Certainly, patents weren’t the first thought of the cypherpunks who sought to make the internet a better and safer place through developing cryptographic tools and later cryptocurrency.



Any individual or organization can file a patent, and just because one is registered and approved doesn’t mean the technology has any merit. In other words, the number of patents an entity files is not evidence of their expertise in the field. Bitcoin’s earliest developers were more interested in creating revolutionary technology than applying to have their code protected by centralized databases. One later entrant to the scene who is synonymous with patents, however, is Craig Wright. He makes it to number two on the list by dint of EITC Holdings, which has filed 42 patents.

Bitcoin Patent Report also reveals that 50% of all crypto-related patents come from China (910) followed by the U.S. (676), U.K. (112), and South Korea (98). Regardless of the merits of each patent, and the moral case for their very existence, they indicate the unprecedented level of interest in bitcoin and the blockchain ecosystem. From insurrectionary cypherpunks to the largest corporations, everyone now has a stake in the game.

https://news.bitcoin.com/bank-america-filed-cryptocurrency-patents-company/

Credit rating service Moody's said Wednesday that it doesn't believe the launch of bitcoin futures will hurt the creditworthiness of either CME or Cboe.

Moody's published the report earlier today, a move that comes nearly two months after the exchanges first moved to list the derivative products. The 11-page release argues that the combination of risk management controls at the two firms, as well as the nascent state of that market, reduces those risks.

The service wrote:

"So far Bitcoin futures volumes have been low, but CME and Cboe hope to tap into the investment community’s interest in the underlying asset. Bitcoin prices have been highly volatile, but we don’t expect this market risk to materially affect CME's or Cboe’s creditworthiness given the small volumes involved and strong risk management at the central counterparty clearing houses (CCPs)."

The report presents a combination of observations on the development of those futures markets to date, as well as an examination of the issues Moody's believes, are most pressing in this context, including the volatile price of bitcoin. That said, the report's authors say that moves to request higher margins for bitcoin futures trades helps lessen the risks.

"Bitcoin’s price volatility presents particular risk management challenges for CCPs, making it more difficult to close out a defaulting clearing member’s exposures," the firm wrote. "To manage this risk, both CME and Cboe set relatively high margins for Bitcoin futures trades to mitigate counterparty exposure, and have since upped margins from those they first presented to regulators. For now low volumes also limit potential losses to a CCP."

This also goes for brokers who are offering access to bitcoin futures, Moody's goes on to argue – even if it's not entirely clear how those margins will be adjusted in the months to come. The report names TD Ameritrade and E*Trade in particular.

"Clearing margins will remain in flux, and may rise rapidly and significantly in response to higher spot Bitcoin price volatility, and brokers will have to adhere to these changes."

https://www.coindesk.com/moodys-bitcoin-volatility-likely-wont-hurt-cmes-risk-rating/

Security researchers at Cisco have released new information about a bitcoin phishing scam that involves websites masquerading as Blockchain.info, the popular online wallet service.

In a blog post published Wednesday, Dave Maynor and Jeremiah O'Connor detailed the Coinhoarder phishing scam, which they said Cisco has been investigating in the past six months in partnership with the Ukrainian Cyberpolice. All in all, they said that those behind the scam had netted $50 million in cryptocurrency over a three-year period.

"The campaign was very simple and after initial setup the attackers needed only to continue purchasing Google AdWords to ensure a steady stream of victims," they wrote. "This campaign targeted specific geographic regions and allowed the attackers to amass millions in revenue through the theft of cryptocurrency from victims. This campaign demonstrates just how lucrative these sorts of malicious attacks can be for cybercriminals."

As shown in the blog, those behind the attack would create websites similar to Blockchain but with different domain names – "block-clain.info" and "blockchien.info" among them – that the casual user may not notice. They then "leveraged Google Adwords to poison user search results in order to steal users' wallets," thereby directing more traffic to those pages.

Cisco traced the group's activity back to as early as 2015 and estimated that "tens of millions of dollars" in cryptocurrency had been stolen since that year. They indicated that as much as $50 million had been stolen, including $2 million in less than 4 weeks during one period last year.

"What is clear from the COINHOARDER campaign is that cryptocurrency phishing via Google Adwords is a lucrative attack on users worldwide," the firm concluded.

https://www.coindesk.com/cisco-50-million-bitcoin-phishing-scam-mimicked-blockchain-web-wallet/

Cryptocurrency enthusiasts have proved quite charitable, at least as far as Fidelity Charitable is concerned.

Announced today, the global charity revealed it has received $69 million in cryptocurrency donations in 2017, making it the fastest-growing asset type accepted by the firm. According to Fidelity Charitable's annual report, the funds, which included donations in bitcoin and ether, came from 169 different donors.

The donations represent a tenfold increase since the organization started accepting bitcoin in late 2015, a figure that grew 140 percent faster than the other options (such as real estate, shares of LLCs and bags of grain) that Fidelity Charitable accepts as donations, according to the company's vice president Amy Pirozzolo.

Pirozzolo told CoinDesk:

"It is one of the fastest growing assets that we are seeing wanting to be contributed to charity. Many people who own bitcoin or other forms of cryptocurrency do want to be philanthropic."

But if that comes as a surprise, perhaps it shouldn't – donations have been one of the key use cases from cryptocurrency since the beginning.

In 2013, non-profit BitGive began helping other non-profits accept donations in bitcoin and shortly after, a handful of major names announced they would trial the idea. The following year, cryptocurrency exchange Coinbase launched its own service designed to support non-profits.

Now, a cottage industry of consultants like Man on a Mission Consulting have popped up to streamline the process of allowing charities to accept this new type of value.

According to Man on a Mission founder Paul Lamb, "I think there's a strong desire to accept not only bitcoin, but other cryptocurrencies as well, so it's really a matter of building it and providing a menu of options from fiat to the wide range of cryptocurrencies."


But Fidelity Charitable is also an early adopter of sorts.

The charity arm of the multinational investment firm first started accepting cryptocurrency through Coinbase's charity service in November 2015, but until this year, it didn't really see the funding mechanism take off. During 2016, its first year full-year of acceptance, crypto donations accounted for only $7 million.

However, throughout the first half of 2017, the firm engaged in a marketing campaign designed to increase the visibility of the service, resulting in 40 articles and a total of $11 million-worth of donations, according to Pirozzolo, who is also the head of Fidelity Charitable's marketing efforts.

"As that took hold – and we created a web page for people to understand how you can donate this, and started buying paid search behind this, and got more mainstream media coverage and more social coverage – this whole thing really took off," she said.

By November, the total donated had doubled to $22 million, momentum that coincided with a tweet that same month from early bitcoin developer Gavin Andresen, who said he had used the platform.

While it's impossible to correlate funding changes directly to the tweet, the following month, Fidelity received an additional $36 million-worth of crypto donations.


Still, all this isn't to say that more traditional donation types are at risk of being overshadowed by blockchain-based assets anytime soon.

According to a statement from the company, the cryptocurrency asset class falls within the broader category of non-publicly traded assets, which accounted for $1 billion dollars-worth of donations last year. That, in turn, fell within an even broader pool of $4.5 billion-worth of total donations.

The biggest draw to Fidelity Charitable's platform is what's called an investor-managed fund, which lets donors give away assets including cryptocurrency without having to pay capital gains taxes.

The result is that the total amount received by the organization typically increases relative to the donor's tax bracket. And given that a total of 127,000 non-profits received funds from Fidelity last year, this extra money could eventually make an even bigger impact.

Pirozzolo concluded:

"This is a great win-win for both [donors] as well as the charities."

https://www.coindesk.com/bitcoin-crypto-69-million-2017-fidelity-charitable/

Australia’s largest bank has banned its customers from buying cryptocurrencies like bitcoin using its credit cards, starting today.

Citing a lack of regulation and high volatility of cryptocurrencies, the Commonwealth Bank of Australia (CBA) has discontinued credit card purchases of cryptocurrencies. The curb will also extend to Perth-based Bankwest, a bank fully acquired by the CBA with operations in the country. The restriction will not extend to banking customers who will still be able to buy and sell cryptocurrencies using their debit cards.

In an announcement, the bank explained its call to bar customers from using its credit cards for crypto purchases, stating:

“We have made this decision because we believe virtual currencies do not meet a minimum standard of regulation, reliability, and reputation when compared to currencies that we offer to our customers. Given the dynamic, volatile nature of virtual currency markets, this position is regularly reviewed.”

In doing so, the CBA has become the first Australian bank to keep its customers from using its credit cards for buying cryptocurrencies. However, recent remarks from the country’s remaining ‘big four’ banks suggest the shift in policy is unlikely to become a trend.

As reported last week, a spokesperson for ANZ confirmed the bank “does not prohibit” cryptocurrency purchases, nor does it keep customers from “accepting them as a form of payment.” Westpac, Australia’s second-largest bank, added it did not place any restrictions on purchasing cryptocurrencies.

CBA joins a select number of credit card lenders such as UK’s Llyods and stateside US banks in JPMorgan, Bank of America and Citi who have barred customers from credit card purchases of cryptocurrencies this month.

https://www.ccn.com/australian-bank-cba-bars-cryptocurrency-buying-credit-cards/

South Korea’s government is considering a cryptocurrency exchange approval system similar to the state regulations in New York State, signaling a new position over regulations on digital currency exchanges from shutting them down to safely manage them.

A decision is not expected until after June’s local elections. An official from a virtual currency task force indicated the government is considering the State of New York’s system of allowing selective permission of virtual currency companies, according to Business Korea.

New York State requires exchanges to have a “BitLicense” to trade virtual currencies. There are 15 detailed regulations including having a certain amount of capital and providing quarterly financial reports.

By accepting the New York law as a model, the country would be able to bring cryptocurrencies into the institutional system and supervise the market in an orderly manner, the government stated.

Most observers had expected the government to follow a hard line policy that included closing exchanges after the Ministry of Justice (MOJ) announced such a plan last month. The Financial Services Commission (FSC) had also said virtual currencies should be restricted.


The government changed its stance after cryptocurrency speculation subsided. Digital currency prices exceeded 20 million won ($18,332) early last month, but has since dropped to 8 million to 9 million won ($7,333 to $8,249). The government doesn’t think it needs to regulate the market unless it becomes overheated.

A ban on digital currencies would also compromise the development of the promising blockchain industry. Industry leaders claim virtual currencies and the blockchain industry are closely related

Kim Do-yeon, Deputy Prime Minister and Minister of Strategy and Finance, said it is not necessary to eliminate or suppress digital currencies.

Also read: New regulation forces South Korean cryptocurrency exchange to suspend trading


Government approval is expected to significantly impact the market. When the government announced plans to close exchanges last month, the government’s approval rating decreased.

Some observers noted that it is not too late to establish regulatory measures since the International Monetary Fund (IMF) and G20 will be discussing international regulations of cryptocurrencies.

The South Korean government will hold a meeting this month to respond to a national petition, according to an official who noted that some favor having taxes on virtual currency over adding regulations if the market’s volatility remains at the current level. The official stressed that the government will address future actions at the upcoming meeting.

https://www.ccn.com/south-korea-govt-eyes-its-own-bitlicense-for-cryptocurrency-exchanges/

Сокрытие компании емитента карт Centra, это вообще нонсенс. В одном из видео они говорили что это сделано специально, чтобы сохранить  репутацию своих партнеров, но и последнему Васе понятно что каждый клиент имеет право знать кто издатель карты. Тем не менее, сегодня распостранилась новость что в приложение Centra добавили БитКеш, итого уже 15 видов токенов.

График падения Centra с января очень сильно повторяет тот же Tenx, давление со стороны Visa крепко ударило по карточным проектам.

It`s nice to heard, that Restart Energy officially registered within the Republic of Singapore. I thought this was done because of loyal Singapore Laws, only to reduce taxes, but this romanian company really interested in Singapore energy market, the country's economy and households consumes a lot of power, and very loyal for new business models.

Приятно слышать, что 6 Февраля компания  Restart Energy официально зарегестрирована на територии Республики Сингапур. Как я понимаю, румынской компании очень интересен этот рынок, из-за своей распостраненной транспортной, финансовой сети, большого количества домовладений, открытости для новой энергетической модели.

Cryptocurrencies could one day help investors diversify their equity and bond portfolios, analysts for JPMorgan Chase wrote in a new, 71-page research report focused on the tech.

The report, entitled "Decrypting Cryptocurrencies: Technology, Applications and Challenges" and dated Feb. 9, was drafted by the bank's Global Research unit. A copy obtained by CoinDesk explores a range of subjects related to cryptocurrency and blockchain, notably exploring the implications for investors, financial firms and central banks, among others.

Perhaps the most notable part of the report is that it – albeit cautiously – predicts that cryptocurrencies might one day play a role in the diversification of global bond and equity portfolios. The report states:

"If past returns, volatilities and correlations persist, [cryptocurrencies] could potentially have a role in diversifying one's global bond and equity portfolio. But in our view, that is a big if given the astronomic returns and volatilities of the past few years."

"If [cryptocurrencies] survive the next few years and remain part of the global market, then they will likely have exited their current speculative phase and would then have more normal returns, volatilities (both much lower) and correlations (more like that of other zero-return assets such as gold and JPY)," the authors continue.

That sentiment perhaps stands in contrast with comments from the bank's chairman, president and CEO, Jamie Dimon, who last year issued his now-infamous remark that bitcoin is a "fraud." As posited by the report's authors, cryptocurrencies are "unlikely to disappear completely."

"[Cryptocurrencies] are unlikely to disappear completely and could easily survive in varying forms and shapes among players who desire greater decentralization, peer-to-peer networks and anonymity, even as the latter is under threat," they wrote.

Looking past the investment picture, the bank's report looks at the wider question of blockchain use, particularly by private firms who would maintain their own gated or "permissioned" blockchains.

The authors write that blockchain is a "superior database," and that despite concerns from regulators, the tech itself is potentially "regulation friendly."

"In our view, the biggest appeal of blockchain will be in the ability to deliver efficiency gains across the value chain," the report states, going on to explain:

"The proposed uses a distributed ledger in the financial sector are likely to be based on known participants defined in advance, with appropriate KYC/AML documentation with tightly authorized access. Consequently, we believe that distributed ledger technology has the potential to offer regulators greater degrees of transparency, higher levels of resiliency and shorter settlement times, reducing counterparty and market risk."

Likewise, the authors argued that blockchain has the potential to disrupt "cross-border payments, settlement/clearing/collateral management as well as the broader world of TMT, transportation and healthcare." That said, the report cautions that any benefits would be seen "only where any cost efficiencies offset regulatory, technical and security hurdles" to implementing the technology.


The report also touches on the topic of a so-called "Fedcoin," or a kind of cryptocurrency (or digital currency) created by a central bank.

And while Fed officials themselves have largely said "no time soon" to the idea (in contrast with other central banks who are actively investigating applications), JPMorgan's report digs into the possible implications – and ramifications – of such an issuance.

The report's authors make the case that, in one sense, a Fedcoin would be supportive of a "central bank-provided payment services" within a cashless system, and that this could help banks implement negative interest rates, which some economists endorse.

However, they also point out that the issuance of such a currency "would give non-banks access to the Fed balance sheet," which could in turn "endanger the economically and socially important financial intermediation function of commercial banks."

Likewise, the authors claimed that a state-issued cryptocurrency could impact the extension of credit to the private sector because it would undermine fractional reserve banking, writing:

"If cryptocurrencies were seen as superior to bank deposits, prompting a wholesale shift into cryptocurrencies, then a much larger share of savings would go to the central bank's assets (government debt) and less to commercial banks loans, thus potentially dramatically increasing private credit risk premia and reducing the flow of credit to the private sector"

The report also grapples with the problem of anonymity for a state-issued cryptocurrency.

"On the one hand, privacy has come to be seen as an implicit constitutional right, and that may extend to monetary transactions," the authors note. "On the other hand, there are several laws on the books intended to prevent the financial system from being used to launder money or finance terrorism and other activities."

https://www.coindesk.com/jpmorgan-report-crypto-one-day-help-diversify-portfolios/

The cryptocurrency market has largely operated free from regulation since Bitcoin first came about in 2009. With crypto on everyone’s minds these days, however, the IMF says Bitcoin regulation is an unavoidable eventuality.


According to International Monetary Fund (IMF) chief Christine Lagarde, it’s not a matter of “if” cryptocurrencies will be regulated by world governments, but rather “when.” Explained Lagarde to CNNMoney:

"It’s inevitable. It’s clearly a domain where we need international regulation and proper supervision."

Lagarde also joined in on the rhetoric that cryptocurrencies are largely utilized by criminals, claiming at the World Government Summit in Dubai on Sunday that “there is probably quite a bit of dark activity [in cryptocurrencies].” Thus, it is her belief that Bitcoin regulation should be focused less on individual or collective entities and more on fraudulent or criminal activities.


Lagarde is not alone in thinking government regulation is on the horizon.

Commodity Futures Trading Commission (CFTC) commissioner Brian Quintenz agrees and has called upon the cryptocurrency industry and advocates to form their own self-regulatory organization (SRO) before governments get more involved.

U.S. Treasury Secretary Steven Mnuchin also believes stricter regulatory measures must be taken against those utilizing cryptocurrency for illegal purposes, stating:

"We encourage fintech, we encourage innovation, but we want to make sure that all of our financial markets are safe and aren’t being used for illicit activities."

British Prime Minister Theresa May has also expressed concerns over cryptocurrency’s criminal usage, stating that she is looking “very seriously” at cryptocurrencies “because of the way they are used, particularly by criminals.”

French Finance Minister Bruno le Maire and interim German Finance Minister Peter Altmaier are also calling for cryptocurrency regulation, but for a different reason. Rather than fearing criminal usage of virtual currencies, they’re afraid that Bitcoin and other cryptocurrencies could disrupt traditional financial structures, writing:

"Given the fast increase in the capitalization of tokens and the emergence of new financial instruments … these developments should be closely monitored."

The World Gold Council believes Bitcoin could undermine central banks, and many major banks themselves have already taken measures to discourage or outright prevent cryptocurrency purchases.

Thus far, however, regulation has largely been confined to discussions in echo chambers and law enforcement operations against cybercriminals.

http://bitcoinist.com/imf-cryptocurrency-regulation-inevitable/

The head of the Chechen Republic, Ramzan Kadyrov, has admitted to buying a fraction of a Bitcoin, stating he is looking forward to following its price.

The head of the Chechen Republic, Ramzan Kadyrov, revealed to the Russian press that he purchased a “fraction” of a bitcoin. He also acknowledged that he is interested in keeping tabs on the cryptocurrency’s progress.

“I already said that blockchain technology will be introduced in the Chechen republic,” Kadyrov wrote on his Telegram on Saturday. He continued:

I am also interested in innovative payment networks. I decided to buy a fraction of a bitcoin so I can follow the progress of cryptocurrency.

The former member of the Chechen independence movement also noted that there is no guarantee of profits when buying cryptocurrencies, rightly pointing out that the fledgling industry is rife with fraud.

“However, I still believe that this industry must be strictly regulated by law, but not prohibited. It is important that we protect citizens from pyramid schemes and other types of financial fraud,” Kadyrov said. He then added:

One must constantly evolve in a constantly evolving world of technology in order to keep up with the innovation and not be left behind.

The Chechen leader appears to be on the same page as his counterpart Russian President, Vladimir Putin, when it comes to approaching cryptocurrencies, who both maintain that Bitcoin technology should not be prohibited but regulated by the country’s central bank.

“[Bitcoin] can be a settlement medium to a certain degree and in certain situations. This is done quickly and efficiently,” Putin told Russian news agency TAAS last month. “This is the prerogative of the central bank at present and the central bank has sufficient authority so far.

“However, in broad terms, legislative regulation will be definitely required in future,” he noted.

http://bitcoinist.com/chechen-republic-kadyrov-buys-bitcoin/

Reserved Open Collectors Network russian Ann translation. Thank you Wapinter.
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Previous translations:

Copytrack Russian Ann thread

https://bitcointalk.org/index.php?topic=2734401.msg27962625#msg27962625

GatCoin Russian Ann thread

https://bitcointalk.org/index.php?topic=2244883.msg22675327#msg22675327