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Coming every Sunday, Hodler's Digest will help you keep track of every single important news that happened this week. The best (and worst) quotes, the salient points of adoption and regulation, the main currencies, the forecasts and much more – a week on Cointelegraph in a single link.
Top Stories This week
The KPMG report notes that cryptography is a big problem, but requires institutional investment
The "Big Four" auditor based in the Netherlands KPMG released a bullish cryptography report this week, claiming that institutional investors must adhere to the industry to "realize its potential". The report, titled "Institutionalization of criptoassets", explains how institutional investors can enter the cryptographic sphere, along with the current challenges that industry faces. The report also elaborates under what circumstances crypto could become an "all-purpose asset class".
The main Swiss SIX stock exchange launches Crypto ETP even if the market has collapsed
The SIX Swiss Exchange, the leading stock exchange in Switzerland, has announced that it will list the world's first multi-exchange (ETP) multiple exchange product. ETP will be supported by the Swiss startup Amun AG, will be listed under the HODL index and will track the following major cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) . Each crypt will have its own market share in the ETP, with Bitcoin accounting for around half of the assets.
The Hardco experiences of Contentcoin BCHSV of Bitcoin Cash "Blockchain Reorganization"
Bitcoin Cash (BCH), which suffered a sharp crossroads on November 15, was the subject of further controversy this week after Bitcoin Cash SV (BCHSV), one of the two new forks of the game, has experienced what is known as a reorganization blockchain (reorg). The reorg lasted for two blocks and initially feared it was a malicious attack; however, this instance is due to the mining arm of the encrypted news publication Coingeek, which favors BCHSV, making its blockades orphans.
Bakkt Digital Assets Platform announces the launch date at the end of January
Bakkt, the digital asset platform created by the New York Stock Exchange (NYSE) operator, announced a "target" launch date of January 24, 2019. The Intercontinental Exchange (ICE), a major operator of 23 world trade including the NYSE, announced the creation of Bakkt in August of this year. According to Bakkt's post on Medium this week, "given the volume of interest in Bakkt and the work required to get all the pieces in place" the company chose the next start date to "ensure that the participants are ready to trade the first day".
China: cryptographic miners sell "Kilo" mining devices amid the market decline
Reportedly, cryptocurrency mining companies in China have started to sell mining machines based on the recent decline in cryptocurrency and Bitcoin (BTC), which has lost almost 24% in the last 7 days. The decline involved a similar decline in mining profitability and forced Chinese operators to sell their mining devices at a loss, the founder of F2Pool stated in his post on the Weibo microblogging platform.
The most memorable quotes
"The desire to have a non-sovereign form of money has existed forever. [Bitcoin] it came out of the depths of the [2008] financial crisis, let's see what happens next year. Let's see if central banks in the United States and Europe can successfully roll out this thing and then see what people want to own "-" Crypto King "Bart Smith, head of digital resources at the global business and technology firm Susquehanna based in the US United
"If you go back to the Internet bubble, which is what many of us in encryption seek for direction, Amazon, probably one of the largest companies in human history, was down more than 95 percent in two years "- Lou Kerner, partner of the venture capital company CryptoOracle
Laws and taxes
The documents show the Indian government to present a draft Crypto Bill in December
According to the documents seen by the Quartz India news site, the Indian government is he is currently preparing a draft law on the cryptic regulations it should be shown in December. The Indian government filed a sworn counter-statement on November 19 at the Supreme Court of India, which is currently hearing a case filed by some cryptographic exchanges against the Bank of India's (RBI) prohibition of encryption, issued to the 39; beginning of this year. The visa documents show that the panel of the Indian Ministry of Finance is undertaking "serious efforts" for the draft report on virtual currencies and the use of distributed ledger technology (DLP) in India.
The surveillance orders in Italy order three companies connected to the cryptography to cease and desist
The Italian Commission for Companies and Stock Exchanges (National Commission for Companies and Stock Exchange), the Italian securities supervisory body, has ordered three encrypted companies to provide unauthorized investment services to cease and desist. The reasons are different: for example, a company, a Richmond Investing trading platform, has reported violating the laws of the country by 2010 failing to register as a financial intermediary.
The first Singapore court case in BTC involves the liquidity provider suing the encrypted exchange
In the first Singapore court case relating to Bitcoin (BTC), Quoine's encrypted exchange and the main B2C2 liquidity provider are the parties to the dispute in a dispute in the Singapore International Commercial Court concerning the alleged inversion of the crypto operations in the spring of 2017. B2C2 claims that the Quoine reversed seven Bitcoin transactions on Ethereum that it attempted to execute in April 2017. According to Quoine, the reversal is due to a technical problem and involved a total of 3,085 BTC (today about $ 13.7 million).
The Central Bank of Singapore has published the final draft of the regulation on cryptographic payment services
Singapore's central bank, the Monetary Authority of Singapore (MAS), said this week that it has extended its regulatory regime to suppliers of bring certain cryptos under his jurisdiction. The new Payment Services Act (PSB), which was presented by the Education Minister and the board member, will replace two existing forms of relevant legislation. The objective of the law is to better safeguard consumer funds, counter terrorism financing and strengthen cyber security.
The Venezuelan Parliament approves the bill on the crypt to fight the financial blockade
The National Constituent Assembly of Venezuela has approved a draft law on the regulation of cryptocurrencies, validating its controversial national cryptocurrency Petro as a unit of commercial exchange within the country and allowing it to purchase services and goods with it. In addition to this, the amendment to the current anti-money laundering legislation allows local exchanges to carry out transactions in foreign currency through Petro.
Adoption
The VanEck subsidiary develops the BTC index based on OTC branches
MV Index Solution, a subsidiary of the VanEck investment management company, has launched its own Bitcoin (BTC) index based on three major over-the-counter (OTC) desks this week. The company, which develops, monitors and authorizes MVIS indices – which cover asset classes including stocks, fixed income market and digital assets – will introduce the new MVIS Bitcoin U.S.> OTC Spot Index (MVBTCO). The new spot index is based on US-based feeds of the main OTC liquidity providers: Circle Trade, Cumberland and Genesis Trading.
Top Crypto Exchange Huobi pays its shares in Beijing with the establishment of the Communist Party Committee
The company behind the major cryptocurrency exchange Huobi created a branch of the Communist Party at a further branch, the Beijing Lianhuo Information Service (BLIS), as part of its obligations to the Chinese state. Huobi, based in Singapore, follows the law that obliges any company with more than three employees members of the Communist Party to create its own branch, thus becoming the first company in the cryptocurrency sector to embrace tradition.
Retail Giant Carrefour launches the Blockchain food monitoring platform for poultry in Spain
The French retail giant Carrefour uses a blockchain of food monitoring platform based on Hyperledger in its Spanish network. The food traceability solution, initially developed by the US technology company IBM, will be used to trace free-range chickens. Each package in the Spanish network will be marked with a QR code that provides detailed information on the date of birth of the chicken, the type of feed, the date of packaging and more for the convenience of the customers.
The "Big Issue" newspaper launches the Blockchain platform to promote impact investment
The Big Issue, a street newspaper sold by homeless people in the UK and other countries, is launching a blockchain platform to promote the impact of investments. The initiative called The Big Exchange has already been joined by three investment companies: the British Standard Life Aberdeen, the American Columbia Threadneedle and AllianceBernstein. The platform will offer From 30 to 40 social and environmental impact funds, linked to the 17 UN sustainable development goals, and should start working within six months.
India: EY "Big Four" Auditor to hire 2K employees to be developed in Blockchain, AI
The "Big Four" auditor Ernst & Young will hire 2,000 employees in India expand its digital solutions services through blockchain, artificial intelligence (AI), automation and tax technologies. The new talents will be recruited in the next three years. At the same time, the company plans to invest $ 1 billion in "new technologies, customer services, innovation and the EY ecosystem" for a period of two years.
Mergers, acquisitions and partnerships
Tezos Korea Foundation and Yonsei University Partner for Blockchain Development
The South Korean subsidiary of the Tezos Foundation has signed a Memorandum of Understanding (MoU) with Yonsei University for collaborate in the development of blockchain technology. According to the new agreement, the two entities will provide "blockchain education cooperation, training of OCaml [Objective Calm] and intelligent contract experts. "The MoU focuses primarily on human resources and education in the blockchain technology sector.
The Fintech MonetaGo company collaborates with SWIFT India
The Indian subsidiary of SWIFT has partnered with MonetaGo, a fintech company, in order to produce a pilot of a DLD (distributed ledger) network. The DLT network aims to improve the efficiency and security of financial products. SWIFT India is more specifically a joint venture developed by SWIFT SCRL and several major Indian and international banks. The new partnership will also integrate MonetaGo's financial services network technology through standardized SWIFT financial messages.
Spin-off project RIF Labs acquires a Smart Contract base based on Bitcoin
The Smart Contract Protocol based on Bitcoin Rootstock (RSK) announced this week that it would be integrated with the RIF OS spin-off project in order to expand the scope of its operations. According to the terms of, RSK Labs will be acquired by RIF Labs, the structure behind the off-chain RIF operating system. The two entities jointly plan to allow RSK to go beyond Bitcoin and Ethereum network support and include various P2P functions.
Siemens combines the blockchain-based energy platform for interoperability development
Two energy divisions of the German technology giant Siemens joined the blockchain-driven Energy Web Foundation (EWF) energy platform to promote the use of decentralized technologies in the industry. Siemens has announced that its Energy Management and Power Generation Services departments will collaborate with EWF in order to develop regulatory, operational and market solutions for the energy sector.
Columbia University and IBM launch two acceleration programs for Blockchain Enterprises
The Americans' Columbia University and IBM have said this week that they would be launching two blockchain acceleration programs with the aim of helping space startups to innovate on a large scale. Both programs will be part of the Columbia-IBM Center for Blockchain and Data Transparency, which this summer was established as a joint innovation center by the two entities. Each blockchain-centric program will support ten startups, allowing them access to a network of business mentors, technical support, talent from Columbia students and "research community", design assistance and IBM cloud technology resources.
Financing round
Singapore's state-owned investment company supported R3 as part of the blockchain and AI-focused strategy
Singapore's state-owned investment company Temasek Holdings Pte, with its Asia-focused portfolio, was worth around $ 235 billion as of spring 2018, investing in blockchain enterprise software companies and the global banking consortium R3. Bloomberg has learned from an internal memo that Temasek was one of over forty institutions that invested in R3 for a $ 107 million Series A fundraising tour last May, but the exact sum of the Singapore firm is not revealed. In addition, Temasek participated in a $ 600 million Series C round of financing in April for SenseTime, a Chinese AI startup.
The Japanese banking giant, the ETH foundation and others donate $ 800K for the Blockchain course at the University of Tokyo
The University of Tokyo will launch a blockchain course following a donation of nearly $ 800,000 from several companies, including the Japanese banking giant Sumitomo Mitsui (SMBC) and the Ethereum Foundation. The banking group does not disclose details of Donation of 90 million yen, nor revealed the main contributor. However, it is known that the funding was shared with several companies, such as Good Luck 3, JSS, Zipper, Hotto link and Money Forward.
Winners and losers
Cryptographic markets continued to decline this week, recording a significant decline in 2018, with a total capitalization of about $ 123 billion, the bitcoin trading around $ 3,800, ripple at $ 0.34 and Ethereum at $ 110 for the press.
The first three altcoin gainers of the week are EmaratCoin, SalPay and Block-chain.Com. The three best losers of the week are Delizia, Dietbitcoin and Smart Application Chain.
For more information on cryptography prices, be sure to read Cointelegraph's market analysis.
FUD of the week
Young SIM American Swapper arrested for stealing $ 1 million in Crypto
The authorities of the US state of California have arrested a 21-year-old New Yorker for the alleged theft of $ 1 million in crypts using the "encryption" technique of "SIM encryption". The exchange of SIM, also known as "scam port-out", works through the theft of a mobile number to hack online financial accounts and social media through the phone of the victims. The arrested suspect, Nicholas Truglia, has been accused of targeting the rich Silicon Valley executives.
Trezor releases the warning after finding false "one" copies of your hardware
Crypto Trezor's hardware wallet manufacturer warned customers after discovering it rogue actors were creating and selling fake versions of their online portfolio. In the online post, Trezor notes that an "unknown" third party was distributing "one-to-one copies" of its flagship Trezor One device. The post specified that the rogue hardware portfolio has subtle differences in packaging, such as the hologram and the barcode sticker.
Chainalysis Report: The use of Bitcoin in payments has plummeted this year
A recent report by Chainalysis shows that the use of Bitcoin in commercial payments has been significantly reduced this year. I study involved in the detection of 17 Bitcoin payment processors, considering that the amount of BTC managed by the major payment processors would have decreased by almost 80 percent from the beginning of the year until September. For example, at the Canadian Coinpayments, the value of transactions decreased by more than half between January and October 2018. However, Tom Lee of Fundstrat also stated this week that the amount of transactions with Bitcoin is three times higher than that with PayPal. .
Alleged Bitcoin Launderer Vinnik announces Hungry Strike to & # 39; Get a Fair Trial & # 39;
The alleged former cripto-exchange trader kidnapped BTC-e, Alexander Vinnik, will reportedly begin to hunger strike on Monday 26 November. According to his lawyer, the reason given for the hunger strike is that Vinnik was deprived of the right to defense in France and, consequently, in Greece. The hearing on his extradition to France was subsequently postponed and is now scheduled for 29 November.
Battle for Bitcoin Cash Name ends when BCH SV Backer calls "Permanent Split"
Calvin Ayre, billionaire's supporter and winner of Bitcoin Cash SV (BCH SV), stated that the currency "no longer wants[s] the name Bitcoin Cash [BCH]". He also stated that Bitcoin Cash SV is the original Bitcoin Cash and called Bitcoin Cash ABC – the coin sponsored by Roger Ver created in the recent fork of BCH – to "definitively separate" the two chains for a "win-win solution" parts".
Forecast of the week
Bull Street on Wall Street Tom Lee supports BTC's year-end forecast at $ 15,000
Fundstrat's Tom Lee came out and said he will keep his Bitcoin (BTC) year-end price forecast of $ 15,000, even in the market crash. Although Lee has recently reduced its forecast from $ 25,000 to $ 15,000, noted this week that it remains optimistic due to the fact that institutional investors will soon enter the market, as well as with the upcoming launch of the NYSE & # 39; s Bakkt.
The best features of Cointelegraph
How the fall in the encrypted market affects hardware sales and producer revenue
While cryptography markets continue to collapse, Cointelegraph is trying to find out how the crisis has affected the mining industry, whose revenues have declined significantly in 2018.
The creation of the first case of ICO fraud in the United States
Cointelegraph analyzes the case of a 39-year-old businessman, Maksim Zaslavskiy, who pleaded guilty to fraud in securities. The referral process, currently forged in a federal court in the New York district of New York, will likely model the body of US jurisprudence on the first fraudulent coin offerings (ICO) as its first precedent.
What's happening with crypto markets, analysts unpack the factors behind a 10-day crash
Analysts unveil the main reasons behind the recent collapse of the markets, mentioning the controversial recent Bitcoin Cash fork, combined with regulatory uncertainty over ICOs. Nonetheless, Bitcoins will not necessarily go down to $ 3,000, and real hodlers will remain on the market, experts say.
Bitcoin Cash Hard Fork Battle: Who is winning the Hash War
A feature of the recent Bitcoin Cash rigid fork, which caused a serious comparison between the two blockchains BCH ABC and BCH SV. Cointelegraph explains what happened during the network update.
The article was written in collaboration with the author of Cointelegraph Ana Berman.
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