Binance Co-Founder Denies Rumors of Company’s Plans to Build Blockchain Country on Private Island

Co-founder of Binance crypto exchange He Yi has dismissed the sci-fi-esque claims of a Chinese fintech media platform that his company has hatched a so-called “Genesis Plan.” The plan was to build Binance’s own blockchain-powered country on a private island, QQ News reports Wednesday, May 16. The fintech media outlet, ‘Yibencaijing,’ reportedly a reputable platform, …

Belarus Considers Digital Economy a Top Priority, Develops Resolution For OSCE Meeting

Belarus considers the digitization of the economy a top priority and is developing a resolution promoting digital economy for a session of the Parliamentary Assembly of the Organization for Security and Co-operation in Europe (OSCE PA), local news  BelTA reports May 15. Speaking at the Eurasian Digital Forum, the Minister of Telecommunications and Informatization Sergey …

US Prosecutors Indict Three Co-Founders Of Floyd Mayweather-Backed ICO For Fraud

The three co-founders of cryptocurrency startup Centra Tech have been formally indicted for running fraudulent ICO, according to a statement May 14 from the U.S. Department of Justice. According to the four-count indictment issued by the U.S. District Court in Manhattan, all three Centra Tech co-founders Sohrab Sharma, Robert Farkas, and Raymond Trapani are being …

‘Global Blockchain Leader’ At Deloitte Resigns To Join Blockchain-Based Startup

Eric Piscini, former Global Blockchain Leader and Partner at one of the “Big Four” consulting firms, Deloitte, has left the company, Forbes reports May 14. Piscini, who helped build a $50 mln global blockchain practice, is joining the startup Citizens Reserve to move supply chain networks to a blockchain. The early-stage startup, which is currently …

Largest Credit Bureau In Eastern Europe To Use Blockchain For Customer Data Storage

The Polish Credit Office, Biuro Informacji Kredytowej (BIK), has partnered with UK fintech firm Billon to implement blockchain for customer data storage, according a press release from Billon today, May 14. BIK, the largest credit bureau in Central and Eastern Europe, is owned by Poland’s leading banks and tracks around 140 mln credit histories, according …

Legal Framework For Cryptocurrencies Comes Into Force

A regulatory framework for cryptocurrencies has come into effect by royal decree in Thailand, the Bangkok Post reported Sunday, May 13.  The 100-section law, published yesterday in the country’s Royal Gazette, defines cryptocurrencies as “digital assets and digital tokens,” and brings them under the regulatory jurisdiction of the Thai Security Exchange Commission (SEC). The Bangkok …

South Korea’s Top Financial Watchdog Joins Probe Into Cryptocurrency Exchanges

South Korea’s top financial regulator the Financial Services Commission (FSC) joined the ongoing probe into local cryptocurrency exchanges Sunday, May 13. The FSC will now be taking part in the anti money laundering investigation, hitherto led by the Financial Supervisory Service (FSS), in order to help expand its scope, news outlet Korea Times reports. Commenting …

From Facebook To NYSE, Mainstream Thinks Of Adoption

Top Stories This Week Owner Of New York Stock Exchange Mulls Over Addition Of Crypto Trading The New York Times reported this week that the NYSE might be giving its customers the option to buy and hold Bitcoin, an assertion backed up by documents, emails, and anonymous sources that confirm these future crypto traders contracts. …

ERC-20 Tokens, Explained

2. Ethereum is a decentralized network of computers with two basic functions. They are: blockchain that can record transactions, and a virtual machine that can produce smart contracts. Because of these two functions, Ethereum is able to support decentralized applications (DApps). These DApps are built on the existing Ethereum blockchain, piggybacking off of its underlying …