Polish Exchange Shuts Down and Disappears With Customers Funds

Polish cryptocurrency exchange Coinroom has reportedly shut down its operations and disappeared with customer funds, local business news outlet money.pl reported on May 31. Money.pl received an email from one of its readers, who stated that Coinroom —  which was registered in 2016 — ceased operations overnight and disappeared with customers’ money in April. Some …

US Federal Bureau of Investigation Calls for QuadrigaCX Users to Provide Information

The United States Federal Bureau of Investigation (FBI) called for former users of the QuadrigaCX cryptocurrency exchange to provide information in an official announcement published on June 3. Earlier this year, QuadrigaCX had filed for creditor protection after the unexpected death of its founder left more than $145 million in funds apparently inaccessible. The FBI …

Binance Cryptocurrency Exchange Testing British Pound Stablecoin

Major cryptocurrency exchange Binance is apparently testing a British pound stablecoin on its native blockchain, Binance Chain, according to a Twitter post on June 3. Twitter user CryptosBatman noticed that the listing “$BGBP” appeared on the Binance platform. Screenshot of stablecoin on Binance Chain. Source: Twitter Binance CEO Changpeng Zhao has commented on the tweet, …

OKEx Says Crypto Is the Future of Money for Consumers in Unstable Economies

One of the world’s biggest crypto exchanges by trading volume believes digital currencies can provide financial freedom to consumers in countries where instability and inflation are making fiat payments impractical. In the world of digital technology dominance, traditional global financial systems are facing hard times to transform in order to interact with the overwhelming demands …

Federal Preemption or States’ Rights? Crypto Advocates Clash Over Regulatory Approaches

It is easy to think of the most prominent blockchain advocates as a united front, whose ranks are tightly closed in the face of the common enemy — a horde of fierce crypto critics, unwieldy regulators, anti-money laundering zealots, “bitcoin is a scam”-ers, and the stakeholders of the old, centralized financial system. On this battlefield, …

Binance DEX Will Geoblock Users From 29 Countries, Including the US

The decentralized exchange (DEX) developed by major cryptocurrency exchange Binance will block access to users based in 29 countries. The DEX informs potential users of the restriction via a message that appears when accessing the platform from one of the regions. The message appearing on the platform states: “It seems you are accessing www.binance.org from …

Tokenization, Explained | Cointelegraph

3. In short: It’s on a blockchain. But let’s dive a little deeper and see what “token” even means in our case. Of course, as with many other crypto-related terms, there is no single, agreed-upon definition. At the most basic level, a token is a representation of a particular asset or utility. Sound too abstract? …

Eos Developer Block.one Announces Blockchain-Based Social Media Platform Voice

Eos (EOS) parent company Block.one has announced a blockchain-based social media platform called Voice, according to a press release shared with Cointelegraph on June 1. The firm claims that the platform will use the Eos blockchain to provide transparency on how it operates, without hidden algorithms or content-pushing mechanisms of which the user is unaware. …

Does Kik Stand a Chance Against the Goliath of the SEC in a US Court?

It’s difficult to fight progress. Although, if you’re the United States Securities and Exchange Commission (SEC), you can at least try, which could explain why the agency has so far refrained from producing clear and favorable cryptocurrency regulation. Since February 2018, the SEC has taken to consider all initial coin offerings (ICOs) as being securities. …