528_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy84ZjkwNWFmZTIzMDQwODYxZGRmYmI2NGM4NTM4ZjhkOS5qcGc.jpg

Regulatory Uncertainty Could Kill 10% Of Crypto Hedge Funds By 2019

The cryptocurrency hedge fund industry could take a hit this year due to a slowdown in capital, reports say. Cryptocurrency hedge funds could face a transformative year in 2018 as sources warn 10 percent could close in the next eight months. Bloomberg reported April 2 that lower prices across cryptocurrency assets have accompanied a marked slowdown in the number of hedge funds opening. In 2017, over 170 began trading, while in the first three months of 2018 only 20 new players have appeared. At the same time, several funds have already closed, with one, Alpha Protocol, directly citing “potential regulatory and market risks” in its decision to refund investor deposits. “New capital has slowed, even for a higher-profile fund like ours,” Kyle Samani, co-founder of US-based fund Multicoin Capital, told Bloomberg in an email. Not only market health, but regulatory uncertainty appears to be driving shifts in sentiment.…
528_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9mNzU4OTE3NmIzMGRkNWU0YmJiN2U0MWI4ZTg4OWZmNi5qcGc.jpg

Google Bans Crypto Mining Extensions From Web Store After ‘90%’ Disregard Policies

Cryptocurrency mining extensions will disappear from Google’s Chrome Web Store by June this year. Google announced it is pulling cryptocurrency mining extensions from its Chrome Web Store April 2 after “90%” failed to comply with its rules. In a blog post, extensions platform product manager James Wagner said that the move was in response to analysis of malicious “cryptojacking” present in extensions. The term refers to when users downloading an extension of any sort unwittingly start mining cryptocurrency without their consent. “Over the past few months, there has been a rise in malicious extensions that appear to provide useful functionality on the surface, while embedding hidden cryptocurrency mining scripts that run in the background,” Wagner claims. While formerly allowing cryptocurrency mining extensions that mined as their sole purpose, Google will now ban new candidates from entering the Web Store and remove existing ones by June. Only one in ten extensions involved in mining adhere to Chromium’s policies on disclosure, according to Wagner. “Unfortunately, approximately 90% of all extensions with mining scripts that developers have attempted to upload to Chrome Web Store have failed to comply with these policies, and have been either rejected or removed from the store,” he adds. June also marks the start of Google’s other, more controversial cryptocurrency-related ban, that referring to cryptocurrency advertisements, which will disappear from Google Adwords.…
528_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8zMWVkZjlmY2MzZDZjNjA1YmQyN2JiMTI1N2NiM2QxZC5qcGc.jpg

Bitcoin-Friendly Overstock.Com Abandons Secondary Stock Offering Amid Falling Share Prices

Overstock.com has pulled the secondary share offering announced last week, citing “market volatility.” Overstock.com, the first major retail to accept Bitcoin (BTC) as a payment option in 2014, has decided to pull its secondary stock offering due to its continuing falling share price, the Wall Street Journal reported yesterday, April 2. The company had seen its shares skyrocket last fall as news broke that Overstock would be developing an alternative Initial Coin Offering (ICO) trading platform.…
528_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9hMWQzNTMzMmVmODQ2ZmY5ZjFkMDg0MjI0NmE5ZjdjMS5qcGc.jpg

Australia Launches New Cryptocurrency Exchange Regulations

Australian authorities have launched new AML rules for cryptocurrency exchanges. Australian cryptocurrency exchanges must abide by new anti-money laundering (AML) rules from April 3, the government has confirmed. According to fresh information now available on the website of the Australian Transaction Reports and Analysis Centre (AUSTRAC), ‘digital currency exchanges’ must now register with authorities, as well as commit to various reporting and identity checking procedures. The move comes as Australian authorities attempt to seal the remaining loopholes in cryptocurrency use regarding tax and identity management. Against a backdrop of discontent due to a sharp rise in scams, the Australian Taxation Office last week asked for taxpayers’ input into how deductions arising from cryptocurrency profits should best be gathered. As part of the security reshape, meanwhile, exchanges must now adhere to four principal rules in order to operate above board: adopting and maintaining an AML/CTF program to identify, mitigate and manage money laundering and terrorism financing risks identifying and verifying the identities of their customers reporting to AUSTRAC suspicious matters, and transactions involving physical currency of $10,000 or more keeping certain records for seven years. A six-month grace period will accompany the new regulations, during which AUSTRAC will be more lenient on operators who fall short of requirements. “A ‘policy principles’ period of six months will be in place from 3 April 2018.…
528_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy85YTZjNGU2NjUxZjVmODg3NzdkMDNiYTkyOTUyYjZmYy5qcGc.jpg

Breaking: Trading Platform Monex Offers To Buy Coincheck Crypto Exchange For “Blns Of Yen”

Japanese crypto exchange Coincheck, hacked for $530 mln worth of NEM in Jan, has received a “several billion yen” acquisition offer, Nikkei reports. Japanese financial services provider Monex has offered to acquire a majority stake in the cryptocurrency exchange Coincheck in a “billions of yen” deal, Nikkei Asian Review reports Apr 3, citing unnamed sources. According to Nikkei, the Coincheck exchange, which was the target of a Jan 26 hack that resulted in a loss of about $530 mln worth of NEM coins and has since then been hit by three class action lawsuits from affected customers, has been “looking for support from a third party.” Japanese online trading platform Monex, currently valued at around $870 mln, is looking to buy a majority stake in the crypto exchange for “several billion yen,” as anonymous sources told Nikkei.…
528_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy84YTk0N2MyNjZhNDJlNjMxNDk1ZTM3NDk1MWJmZjMyZS5qcGc.jpg

SEC Busts Fraudulent ICO Endorsed By Floyd Mayweather, Founders Defrauded $32 Mln

The US Securities and Exchange Commission (SEC) has charged two co-founders of a financial services company with orchestrating a fraudulent ICO. The US Securities and Exchange Commission (SEC) charged two co-founders of a supposed financial services start-up with organizing a fraudulent initial coin offering (ICO), the SEC announced in a press release April 2. The SEC says the the co-founders of Centra Tech.…
528_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8xNmI1ZDRjZTk0NzAyMGU3YjQyMTU0OTI4YThhZTA0Yi5qcGc.jpg

First All-Blockchain Commodity Trade Completed Between China And Singapore

A shipment of gasoline from China to Singapore is reportedly the first commodity trade managed entirely on a Blockchain. A subsidiary of Sinochem Corporation, one of China’s four major state-owned oil companies, has completed a shipment of gasoline from China to Singapore entirely using Blockchain technology, Reuters reports April 2. Sinochem Energy Technology sent a shipment from Quanzhou, China to Singapore, claiming that it was the “first time that Blockchain applications have been applied to all key participants in the commodity trading process.” In December of last year, the Sinochem Group completed the “first crude oil” Blockchain import transaction, according to Reuters. Blockchain technology has been well received in logistics and shipping.…