The SEC’s Chilling Effect on Crypto Development

Laveta Brigham

A slew of regulatory happenings are in the works. First, the Bahamian central bank plans to issue the first CBDC this October while the Indian legislative body is considering a ban on crypto trading. 

Further, the latest SEC injunction into an allegedly unregistered token sale could set a grave precedent, argues Commissioner Hester “Crypto Mom” Peirce.

Top shelf

CBDC first
The Central Bank of the Bahamas has confirmed it is moving ahead with the nationwide launch of its digital currency, called the “Sand Dollar,” sometime in October. Approximately $48,000 worth of the new central bank digital currency (CBDC) – pegged to the U.S. dollar-tracking Bahamian dollar (BSD) – will enter circulation initially with commitments to mint and remove BSDs as necessary. A mobile-based wallet app will also be rolled out. If it sticks to its October release, the Sand Dollar will likely become the first CBDC to launch anywhere in

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Understanding the Complex Crypto System Meant to Rival AWS

Laveta Brigham

Filecoin might be the most complex thing the blockchain industry has ever brought to market.

The Web 3.0 data-storage project, funded by a $257 million initial coin offering that closed in September 2017, has been building out its technology ever since. 

While Filecoin has been quieter than most over that time, Filecoin is currently wrapping up a very active incentivized testnet called Space Race. There are 1.5 million FIL tokens allocated to testnet participants, though it’s hard to assess the value of that offer when the company has refused to discuss details that might inform FIL’s underlying price. Nonetheless, this testnet has been quite popular. 

Related: Internet 2030: The Future and How We Get There

“Miners are learning a ton,” Filecoin’s Ian Darrow told CoinDesk. More than $100 million worth of hardware has come online to serve the testnet, he said. More than 200 pebibytes of data capacity has been

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The State Of Crypto Payments

Laveta Brigham

The following is a contributed article from a content partner of Benzinga

Discussions surrounding cryptocurrency payment platforms have captured the attention of investors worldwide, specifically on whether digital currencies are useful in the retail sector. For instance, the growth and widespread adoption of ‘stable-coins’ has nudged 20,000 merchants to accept crypto payments. The list of parties interested in crypto-transactions, however, is not merely limited to small businesses; we have seen that corporations like Microsoft, Overstock, Namecheap, Starbucks, Whole Foods, CheapAir, Travala, and Expedia have all shifted their attention.

The $250 Billion crypto payment market, though broad, can be best understood by examining three major categories: P2P Retail Payments, Crypto Custody, and Merchant Plugin and Gateways.

Square’s Cash App – A Leader In P2P Crypto Retail Payments

Since January, the stock market value of Square, Inc. (NYSE: SQ) has risen in value by 148%; last year alone, the stock grew by

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From COVID Generation to Crypto Generation

Laveta Brigham

Last year, before a pandemic changed the world, surveys showed millennials and adult-age Generation Z respondents steadily developing a curiosity in cryptocurrencies if not buying into the bigger idea that the technology will transform money. 

20% of affluent millennials – the cohort born between 1980 and 1996 – invested in cryptocurrencies, compared with just 3% for the general population. Meanwhile, an online Harris/Blockchain Capital poll found 60% of people aged 18-34, a demographic covering six years of Gen Zers and 10 of millennials, were “somewhat familiar” with bitcoin, compared with 43% overall. ” data-reactid=”20″A Michelmores survey in the U.K., for example, found that 20% of affluent millennials – the cohort born between 1980 and 1996 – invested in cryptocurrencies, compared with just 3% for the general population. Meanwhile, an online Harris/Blockchain Capital poll found 60% of people aged 18-34, a demographic covering six years of Gen Zers and 10

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Whistleblower Kidnapped in Ukraine After Accusing Crypto Firm of Exit Scam

Laveta Brigham

A group of people pushed a man into a gray minivan on a dark street. The man yelled, “Help! Help! No!” and pushed against the van. Passersby shouted, “Let him go!” and tried to stop the van. The man was finally stuffed inside and the van left. 

This blurry video, apparently filmed by an unidentified witness Wednesday night in Kyiv, Ukraine, and circulated by local news publications Thursday morning, might mark a new chapter in the story of Bitsonar, a crypto investment firm that raised millions of dollars from investors in the U.S. and Europe, which they are now unable to access.” data-reactid=”20″This blurry video, apparently filmed by an unidentified witness Wednesday night in Kyiv, Ukraine, and circulated by local news publications Thursday morning, might mark a new chapter in the story of Bitsonar, a crypto investment firm that raised millions of dollars from investors in the U.S.

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As Wall Street Goes Topsy-Turvy, Crypto Traders Are Bullish as Ever

Laveta Brigham

As the coronavirus takes its devastating toll on the U.S. economy, financial pros are increasingly confounded by the markets. 

The economy is in its worst shape since the early 20th century, and stocks are soaring. The U.S. government’s borrowing is expected to triple to a record $4.5 trillionthis fiscal year, yet 10-year Treasury yields are close to historic lows.

You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here. 

Related: CME Rises in Bitcoin Futures Rankings as Institutional Interest Grows

A report Thursday showed that U.S. jobless claims fell to 963,000 last week, the first weekly figure below 1 million since March. But in

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A Plague on Crypto and Twitter, Unlikely to Stop

Laveta Brigham

The teenager arrested for allegedly masterminding the recent Twitter hack comes from a community that’s been targeting crypto users for years.

The group’s attacks have one big thing in common: They take advantage of human fallibility rather than code vulnerability. These so-called social engineering attacks are growing in sophistication, and while the Twitter case is being prosecuted vigorously, the broader problem is unlikely to end soon, security experts said.

The New York Times reported the alleged mastermind was a part of the “OG” users community, which traffics in short unique online handles, such as a single character or word on social media. The hackers are also known for SIM swapping, a tactic that has long plagued the world of crypto. 

Related: Twitter Hacker Owns $3.4M in Bitcoin, Court Sets Bail at $725K

Florida resident Graham Clark was arrested on July 31. State Attorney Andrew Warren filed 30 felony charges, including

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China-Backed Crypto Guru Wants to Unify World’s Blockchains

Laveta Brigham

(Bloomberg) — The blockchain world today is thousands of disparate platforms that can’t talk to each other. So a little-known startup hatched one of the most ambitious plans yet to bridge all the divides — and it’s got the backing of the Chinese government.

Beijing-based Red Date Technology is at the heart of China’s first state-backed blockchain initiative, envisioned as a one-stop hub for developers to build decentralized applications (dapps) for everything from money transactions to drug-delivery tracing. Think of it as the crypto-world equivalent of a cloud service like Amazon Web Services or Microsoft Azure that hooks up and supports a multitude of software and platforms. Since its April roll-out, the Blockchain-based Service Network (or BSN) has attracted more than 6,000 enterprise, government and individual users primarily from China.

Red Date, backed by the nation’s top economic planner, is the mastermind of the undertaking. The startup’s goal is to

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China-Backed Crypto Guru Wants to Unify the World’s Blockchains

Laveta Brigham

(Bloomberg) — The blockchain world today is thousands of disparate platforms that can’t talk to each other. So a little-known startup hatched one of the most ambitious plans yet to bridge all the divides — and it’s got the backing of the Chinese government.

Beijing-based Red Date Technology is at the heart of China’s first state-backed blockchain initiative, envisioned as a one-stop hub for developers to build decentralized applications (dapps) for everything from money transactions to drug-delivery tracing. Think of it as the crypto-world equivalent of a cloud service like Amazon Web Services or Microsoft Azure that hooks up and supports a multitude of software and platforms. Since its April roll-out, the Blockchain-based Service Network (or BSN) has attracted more than 6,000 enterprise, government and individual users primarily from China.

Red Date, backed by the nation’s top economic planner, is the mastermind of the undertaking. The startup’s goal is to

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Chainlink’s Interest, Ethereum’s ‘ReGenesis’ and Crypto Taxes

Laveta Brigham

Binance announced the rollout of its crypto debit card, the U.K.’s central bank is thinking hard about a digital currency and the taxman cometh. Here’s the story:

You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. 

Top shelf

AML Compliance
BitGo is offering API support for the Financial Action Task Force’s (FATF) “Travel Rule,” which stipulates the originators and beneficiaries of financial transactions over $1,000 be identified and that their personal data must “travel” with those transactions. BitGo’s offering seeks to remove the headache of identifying wallets and transferring personally identifiable information between clients that use the San Francisco-based firm’s technology or custodial services.

Related: First Mover: Bitcoiners Not Worried Fed Money Printer Has Stopped Going ‘Brrrr’

Binance Card
Binance has announced the first major rollout

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