Socially oriented digital Bank Good Money raised $30 million supported Galaxy Digital

Based in Los Angeles Good Money cryptocurrency startup announced the closing of a funding round Series A, which raised $30 million

Round headed scriptbank Mike Novogratz Galaxy using your Galaxy Digital EOS VC Fund, said in Monday, December 10, the official press release.

Other project investors were made by venture capital funds, Breyer Capital, Blocktower Capital, Boost VC, Blockchange Ventures, Cross Culture Capital, and several individual investors.

Good Money calls itself the world’s first digital banking platform owned by its customers and aims to democratize the banking industry, using profits to change the world for the better.

In particular, the startup plans to act as a Bank, every customer belongs to a certain number of securities. Good Money plans to deploy a network of beskonusnyh of ATMs throughout the US, and also offer a zero fee for overdraft and insured by the Federal Corporation on insurance of contributions (FDIC) deposits at 2% per annum.

A fully functioning app and will operate the platform, the company plans to release in 2019. The app will support mobile cryptocurrency wallet, offering additional incentives for referring friends and direct deposits.

In addition, representatives of the startup, 50% of all profits will be directed to projects aimed at addressing social and economic inequalities, environmental protection, renewable energy and philanthropy.

We will remind, earlier in December, Galaxy Digital was one of the investors international technology blockchain the company Bitfury Group, which after a closed round of financing raised $80 million.


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The operator of the messaging application Line has opened $10 million in venture token Fund

A month later, with the opening of the crypto currency exchange Bitbox operator of popular Japanese mobile messenger app Line via its subsidiary valley Corporation, established in April this year, has launched in Hong Kong $10 million in venture token Unblock Ventures Fund.

The task of the new Fund is to contribute to the development of the blockchain ecosystem through investing in tokens blockchain projects in the early stages of development. Initial funding for the Fund is entirely provided by another subsidiary of the group Line: LVC Corporation.

At the same time Bitbox included in the listing TRON (TRX), which, in the opinion of cryptoexpert provoked an increase in the price of the cryptocurrency on 14%. Representatives of the crypto currency exchange stated that it is willing to consider applications for addition in the listing of tokens and other projects.

Recall venture company Golden Gate Ventures recently announced the intention to open in Singapore first in Southeast Asia cryptocurrency venture Fund LuneX Ventures with $10 million of assets.

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The Ministry of Finance of great Britain plans strict regulation of the cryptocurrency

The British government plans to introduce strict rules for cryptocurrency in the fight against illegal operations like tax evasion and money laundering. This was reported by The Telegraph.

The UK Treasury has told about plans of regulating bitcoin and other cryptocurrencies, which will make the traders to reveal the identity and report suspicious transactions. Now the transaction in cryptocurrency market are anonymous, which makes it attractive to criminals, says the regulator.

The Treasury plans to bring the regulation of virtual currencies in accordance with the rules of combating money laundering and antiterrorist financing legislation. It is expected that the new rules, which will apply throughout the European Union, will enter into force at the end of this or early next year.

“These new forms of payments are spreading rapidly, and we need to follow in order not to fall behind — this is especially important from the point of view of money laundering, terrorism or ordinary theft,” said a member of the Treasury Committee MP John Mann (John Mann).

He added that the need for more effective research in the field of regulation of cryptocurrency will be held in the new year. As said the legislator, the Parliament has no confidence that regulatory authorities do not lag behind the development of the cryptocurrency market.

We will remind, earlier it was reported that the governmental authorities of great Britain, called the risk of terrorist financing through cryptocurrency “low”.

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From Ethereum has a chance for continued growth

Ethereum rises in price the second day in a row, but cryptocurrency is not yet able to block the negative beginning of the week. On Thursday afternoon, Ethereum is worth $762,11 and growing by 1.4%, according to a leading analyst RoboForex Dmitry Gurkovsky.

After Ethereum broke the support at $705, the market managed to win back more than $55. While the cryptocurrency has broken the trend boundary bullish trading channel at the level of $735, which gave the market the opportunity to continue improving. After that Ethereum has passed above the line of the 100-hour moving average at $758 and is there now.

While buyers remain active, Ethereum is above the important level of $758. If the price remains above this level after the close of the day, cryptocurrency will move further in the direction of the intermediate resistance $770, where it will open the road to the may high at $838.

The key support levels for Ethereum are $745 and $725. Key resistance is now the $770. The MACD on the daily chart is kept in the positive area and is moving along the trend line, keeping a signal to buy, but not reinforcing it. Stochastic oscillator remains in its positive zone but is reduced and begins to form a sell signal.

Among fundamental news attention talk about the regulation of the cryptocurrency market, in particular in respect of Ethereum. Soon SEC the Commission on securities and stock exchanges of the US, should get together and make the decision whether Ethereum action (an asset) or not. Depending on the perspective, formed in the SEC, will be determined by further regulation of cryptocurrencies. It is necessary to clarify that it applies not only to Ethereum, but other altcoins, and think about this question, not only the SEC, but the CFTC (Commission on trade in commodity futures of the USA).

As mentioned previously, Ethereum, other cryptocurrencies and other tokens are features and characteristics corresponding to the assets and the “classic” stock. It is expected that the SEC is determined to regulate, and will therefore use the available arguments to accept Ethereum, for example, action. Then the Commission can define the parameters for the treatment of crypto-currencies and, over time, affect the market behavior of virtual currencies.

The market had split into 2 camps. In the first sure that the SEC will not be able adequately to argue the right to regulate cryptocurrencies. In the second are convinced that the SEC simply “kill” the cryptocurrency market. At the moment, seems that the consequences for Ethereum on this side can only be short-term because there are many candidates for the regulation of the market of virtual assets. In this case, the United States are no longer dealing with market resistance, and the claims by regulators in other countries. And this situation can last for years.

Attention!

Forecasts financial markets are private opinion of their authors. The current analysis is not a guide to trade. RoboForex is not responsible for the results that can occur when using trade recommendations submitted reviews.

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Employees of investment company Capital Group was not allowed to participate in ICO

Us investment firm the Capital Group, under which the assets are located at $1.7 billion, has banned its employees and immediate family members residing with them, to participate in ICO. This is stated in internal policy, filed by the company with the Commission on securities and exchange Commission (SEC).

These persons are also allowed to participate in the IPO, however, this rule under certain circumstances can be made the exception. However, in relation to the ICO the company’s policy does not provide any other assumptions.

We will remind that in February of this year, the us Commission on commodity futures trading (CFTC) in response to “numerous requests for clarification” allowed its employees to invest in crypto-currencies for personal purposes on the condition that they will not buy them on margin or use insider information obtained in the workplace. However, to invest in bitcoin futures, the Commission staff is prohibited.

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National digital currency as protection against bitcoin

Michael Corbat, CEO of Citigroup, says that in the near future digital currency will be issued at the state level, as a response to the threat of bitcoin. This prediction Corbat shared with Bloomberg during the financial summit, held this week in new York.

«Perhaps we will soon see public release is not that cryptocurrency is a bad definition, and a special digital currencies,» said Corbat.

This is a fresh point of view for a representative industry whose leaders denied the viability of bitcoin as a standalone currency. Instead focus on what bitcoin can not (to replace the money or to function as a long-term storage media), Corbat more concerned about the ability of cryptocurrency to bypass the protective measures of modern banking regulation.

Nevertheless Corbat endorsed the cryptocurrency, despite their «comparative clumsiness», and notes the potential of blockchain technology, which should not be underestimated. So Citigroup have already started to develop its cryptocurrency Citicoin on the basis of bitcoin and the blockchain.

Kiptopeke, cryptowall and scriptural

The fact that cryptocurrencies are so closely interested in one of the largest financial conglomerates, it becomes a serious argument in favor of this technology and the cryptocurrency market in General. A confirmation of this is the interest in cryptocurrency at the state level.

So in early November the Central Bank of Uruguay has announced the launch of a pilot project to introduce a national digital currency that will serve as the analogue of the local peso. On the possibility to issue a national digital currency was reported by the head of the Bank of Lebanon Riad Salameh.

At the same time, the people’s Bank of China (PBOC) announced plans to create a national cryptocurrency in January 2016, and the head of the research Institute at NSC Yao Qian said in early November that the economy of China like never before, we need a cryptocurrency issued by the regulator. And of course we cannot forget the President of the Russian Federation on the launching of a Russian cryptocurrency — cryptolabs. This decision was announced by the head of the Ministry of communications Nikolay Nikiforov in mid-October, noting that a bill to legalize cryptocurrencies in the country must hurry up.

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In June, the BTCC will restart on the new platform

One of the oldest bitcoin exchanges in the world BTCC, ceased to trade in September last year, is once again preparing to take the traders on its platform.

In June, the launch of the new BTCC Exchange platform the main advantages of which should be increased liquidity, faster processing of requests for Deposit/withdrawals and reduced the spread between purchase price and sale.

Updated platform BTCC Exchange will support such trading pairs like BTC/USD, ETH/USD BCH/USD, LTC/USD, ETH/BTC, BCH/BTC, LTC/BTC, etc. In the future, the site promises to add support for new crypto-currencies that users will be interested. In the first three months traders will be able to use the platform without a fee.

Also users will have the opportunity to earn points, including through the referral system. The points received can be used within the ecosystem BTCC, including mining pool and bitcoin wallet Mobi.

The updated site will use mnogokasatelnoy and multi-level system with high-speed optimized engine. Custody of assets users will be on the cold wallets.

Recall that in the fall of 2017 BTCC ceased trading activities in China. The reason for this was the ban on cryptocurrency exchanges in the country. In January 2018, the owner of the exchange became an unnamed investment Fund from Hong Kong.

BTCChina was one of the three largest platform for trading of cryptocurrencies in China. According to Coinhills, the daily volume of trade bitcoins it took 17 th place in the world.

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The number of registrations of companies with «blockchain» in the name has increased in China by 454%

In the first half of this year in China the number of registered companies with the word “blockchain” in the title increased 6 times compared to all the 2017 year.

At the moment there are more than 4 thousand of such firms. From 1 January to 16 July 2018 was registered 3078 companies that used the blockchain (in Chinese qukualian ) in their name, and for the entire 2017 — 555.

For comparison, currently in the U.S. there are 817 companies with bloccano in the title, and in the UK — 335.

On the wave of cryptocurrency boom at the end of last year, a wave, when the company conducted a rebranding, adding in the title the word “blockchain”, or declared the beginning of activities in the field of new technologies. The hype around the cryptocurrency then allowed to attract the attention of investors seeking to enter into a new growing industry and get a quick profit.

This compares with the situation of the 90-ies of the last century when the rapidly growing market of Internet companies or dot-com. Many companies then started to add to the name .com or .net that they attributed to the new and growing industry.

One of the symbols of use came into fashion blockchain in the USA was the manufacturer of soft drinks Long Island Iced Tea. In December last year, the company was renamed Corporation Long Blockchain, and then only for one day the value of its shares soared by 432%. However, in the ensuing downturn in the cryptocurrency market speculative investor interest waned. Shares of the company at the peak which cost almost $10, has now fallen to $0,38.

It is noted in the China boom of registration of companies with the word “blockchain” in the name happened during the recession of the cryptocurrency market and, perhaps, associated with speculation. In the country over the past 12 months 16.6 created thousands of businesses who indicated the blockchain, as one of its activities. More than 3.8 thousand of these companies have authorized capital of more than 10 million yuan ($1.5 million).

The study and development of blockchain technology in China actively involved in large companies including Alibaba Group, Baidu and Sinochem Group. This is supported both local authorities and Central government and head of state.

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British MP suggested the use of bitcoin in the payment of taxes and utilities

Member of the British Parliament from the Conservative party Eddie Hughes said that the government should make it possible to use bitcoin in the payment of taxes and utilities. About it reports The Daily Express.

Eddie Hughes, who represents Walsall North, calls himself a «criptonita with knowledge at the level of the Amateur.» According to him, the blockchain technology attracts a lot of attention, and therefore, the members of Parliament «have to understand».

Also Eddie Hughes said that recently met with representatives of the Royal society of rescue on waters, which accepts donations in cryptocurrencies, after which he came to the idea to make it possible to use bitcoin when paying municipal taxes and utilities.

«If we can do that, what prevents us to use bitcoin for payment of municipal taxes and other services,» he says.

Hughes comments came shortly after the government of Ohio allowed the companies registered in this U.S. state, pay taxes in bitcoin, as he also said in an interview with the publication.

«Either you are a step ahead of events, or a step behind, and our country is now in a position where it should be seen as a progressive country,» the MP added.

We will remind, as published in the September survey, about a third of the inhabitants of 9 million London is planning to invest in cryptocurrencies. The average for the UK this commitment said only 13% of respondents.


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In Moscow, the founder of Waves Platform to discuss the future of the blockchain

On 20 December in Moscow, representatives of the blockchain platform Binary Waves in conjunction with the District will hold a meetup for developers, businesses and the public sector. At Waves Community Annual Meetup speakers will tell about what events will affect the development of blockchain-industry and what the future holds for technology.

Speakers of the event:

  • Alexander Ivanov, founder and CEO of Waves Platform and project Vostok;
  • Ilya Smagin, head of Department for development of smart contracts Waves;
  • Yury Naidyonov, blockchain-engineer, head of Gaming Waves.

In addition, representatives will discuss Waves news platform, the possibilities of the blockchain and smart contracts for business, and also will talk about tokenization in the video game industry. During the Q&A session Alexander Ivanov will answer guests ‘ questions about new solutions and details work products Waves.

Registration of participants on the website Binary District.

The event will take place on 20 December at 19:00 at the Digital October center in Moscow.


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