Tether Launches New Stablecoin Pegged to Offshore Chinese Yuan

Stablecoin firm Tether announced that it is launching a new stablecoin pegged to the offshore Chinese yuan. Stablecoin firm Tether announced the launch of a new stablecoin tied to the offshore Chinese yuan dubbed CNHT. According to an announcement on Sept. 9, Tether CNHT is pegged to the offshore yuan and available as an ERC-20 token on the Ethereum blockchain. The new currency joins Tether’s other stablecoins backed by U.S. dollars (USDT) and euro (EURT). What is the offshore Yuan? China’s national currency is officially called the renminbi. The currency’s…

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Lobbyists Are Hired Left and Right to Campaign On Libra’s Behalf

Many people are not happy with Facebook’s Libra. Experts and ordinary crypto enthusiasts alike, see a lot of threat and instability with the social media giant’s forthcoming stablecoin. It’s also never a good sign that a company is focused on “hiring” lobbyists before the release of its product. Bloomberg revealed last week that two new lobbyists were “hired” to persuade lawmakers that threaten to stop the launch of the stablecoin. The president of Hollier Associates LLC, was the first to bend the knee to Facebook’s wallet and began to lobby…

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$1 Billion Bitcoin Transaction Noticed Mainly Due to High Fees

A lot of heads were turned as a mysterious $1 billion bitcoin transaction was recently completed. What’s interesting to note, is that the transaction became conspicuous not because of its sheer size but because the spender spent “a large amount” on fees. Many users on social media spend hours trying to guess both the origin and the destination of the funds when the transaction completed last week. This was a record as the $1 billion bitcoin transaction involved 94 504 bitcoins. 94,504 #BTC (1,018,147,922 USD) transferred from unknown wallet to…

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Despite Setbacks, Darknet Markets Show Continuous Growth in 2019

Since the birth of the Silk Road, there’s been a cat and mouse game between global law enforcement and darknet market (DNM) operators. Over the last two years, law enforcement agencies have knocked out a slew of markets like Hansa and the massive Alphabay. Months later, Dream and Wall Street disappeared and online DNM communities were deplatformed. Despite the obstacles along the way, there are still more than 12 active DNMs today and forums filled with hidden market participants that are growing in number once again. Also read: This Short…

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Former US Congressman Calls for Nuanced Cryptocurrency Regulations

Former congressman Harold J. Ford argued that the United States Congress should not paint the cryptocurrency sector with a broad brush. Former United States Representative Harold J. Ford has argued that Congress should have a nuanced approach to regulating cryptocurrencies. In an article published on CNBC on Sept. 5, Ford said that lawmakers and regulators should develop clear regulations toward digital currencies. He noted a comment from Chris Larsen, the executive chairman and co-founder of blockchain startup Ripple, who asked Congress, “Please do not paint us with a broad brush,”…

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Bitcoin Exchange PrimeXBT Partners With Bitfury to Ensure Compliance

Bitcoin exchange PrimeXBT partnered with blockchain development firm Bitfury to help it ensure Anti-Money Laundering compliance. Bitcoin (BTC) exchange PrimeXBT announced that it partnered with blockchain development firm Bitfury in order to ensure regulatory compliance. According to a press release published on Sept. 9, PrimeXBT will be using Bitfury’s blockchain analytics and cryptocurrency compliance software Crystal. The exchange hopes that the implementation will heighten its Anti-Money Laundering and Combating the Financing of Terrorism policies, as well as improve client security. A PrimeXBT official said: “As a responsible member of the…

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Report: BitMEX Crypto Exchange COO Steps Down

The chief operating officer at major digital currency exchange BitMEX, Angelina Kwan, has reportedly stepped down from the position. The chief operating officer (COO) at digital currency exchange BitMEX, Angelina Kwan, has reportedly stepped down. A spokesperson familiar with the matter told industry-focused media outlet The Block on Sept. 9: “We can confirm that Angelina Kwan is leaving the company and is on gardening leave now. That’s all we can say on the matter at the moment, but we wish Angelina all the best.” A veteran Hong Kong regulator Kwan —…

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Catalonia Announces Decentralized ID System the Govt Won’t Control

On Saturday, Catalan president and minister of digital policies and administration announced a decentralized digital identity system called IdentiCAT. Catalonia’s government has unveiled IdentiCAT, a decentralized identity system. President Quim Torra and Minister of Digital Policies and Administration Jordi Puigneró announced the project on Sept. 7, local media outlet VilaWeb reported. Notably, the government says it will not have access to citizens’ data. Privacy protection The bidding for system development — which is expected to be completed by 2020 — will start shortly at €550,000 (nearly $607,000). Citizens using IdentiCAT will reportedly…

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Bitfarms Expands Bitcoin Mining Operations in Québec

With a cool climate and endless supplies of renewable hydropower left over from a time when forestry, pulp and paper, and traditional mining drove the economy, Québec, Canada, has the potential to be a thriving bitcoin mining hub. Québec’s energy agency Hydro-Québec told Bitcoin Magazine that it now provides 668 megawatts (MW) of power to bitcoin miners (which it classifies as “blockchain companies”) and is currently taking proposals for 300 MW more, which will make mining one of the biggest industries in Québec in terms of energy consumption. Bitfarms, a…

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Tim Draper Joins Board of Directors at EOS-Based DApp Firm

Billionaire venture capitalist and crypto bull Tim Draper has joined the board of directors of EOS-based chat DApp firm MakeSense Labs. Tim Draper, a famous investor with an estimated crypto net worth ranging between $350 million and $500 million, joined the board of directors of EOS-based decentralized application (DApp) firm MakeSense Labs. Draper commented on the appointment in a MakeSense Labs press release on Sept. 9, saying, “I am excited to support this amazing application. Sense.Chat improves human connections by allowing private, seamless messaging and payments.” A notable investor Per…

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