The national Bank of Ukraine can not accept cryptocurrency tender

Deputy head of the National Bank of Ukraine Oleg Churiy said on Ukrainian Financial Forum, the financial regulator has determined the status of bitcoin and cannot consider it a currency:

We can tell you that it’s not currency, because there is no Central Issuer. And we can not accept this means of payment.

The main risk that CORI sees the digital currencies is a fraud:

Global regulators are not concerned about any threat of cryptocurrencies due to their small volume. They are only concerned about the fact that people can lose money, and fraud, which can be with them.

Recall that in mid-August Churi said that bitcoin has no particular status in the country. And at the end of August, the financial stability Board decided that the financial regulators of Ukraine should present a unified position on the status of cryptocurrency in the country, the Council includes representatives of NBU, Ministry of Finance, Deposit guarantee Fund, the securities Commission and the financial services Commission.

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NEO apologized for publishing a provocative poster

The developers of NEO issued a statement in which he apologized for the unrest of recent days, involuntarily caused by them in the community.

We will remind that last Friday the company published a poster in Chinese, the text of which read something like this:

«Progress does not stop. By the time you read this, you will already stand with NEO on the path to changing the world. There are 3 days left before something happens. Until then life is good.»

After that, the chats Telegram began actively to spread rumors that on Monday, November 20, the Chinese authorities will introduce new rules for the regulation of cryptocurrencies in the country, and NEO will be chosen as the main Chinese crypto-currencies. As a result, the rate of NEO grew by 29%.

Now the company explained that the past weekend was really important for NEO, but he had nothing to do with the Chinese government.

First, at the conference in Shanghai was presented a new public platform for distributed Ontology networks.

Second, NEO together with Microsoft China has launched a contest for developers with corpname prizes and invitations to NEO DevCon in Silicon valley.

Third, several members of City of Zion, a member of the NEO community, published a White Paper on decentralized exchange NEX.

NEO Council explained that all these events are important to the ecosystem NEO. Publication of the teaser, the developers wanted to attract the attention of the community, but did not expect that this will lead to the consequences that took place in the following days.

«Until the publication of this «ads in the ad» we discussed the effect that this approach can have. Watching the projects that used a similar marketing strategy, we knew that the community would expect a major news such as the announcement of a large-scale partnership. In the end, we decided that the expected event is comparable to large partnership and decided to publish a teaser. We heard you and we understand that you would like us to refrain from such approach in the future,» says the project’s blog.

As for regulation, the spread of rumors on this subject really surprised the developers of NEO:

«What we didn’t expect is that people will start to speculate about the regulation in China. For us, natural that the regulation comes from government, not from the project open source».

The representatives of the NEO explained that on Saturday, when they began to spread rumors, they worked on the presentation Ontology. On Sunday, when it became clear that the community expects changes in the regulation, they clearly stated in the channel in Slack that they did not plan to make announcements on this topic.

«We would like to repeat that NEO is a project open source, and conformity – the basic design philosophy for this project. It’s a big jump to move from compliance of regulatory standards to the point at which regulations are changing to accommodate the NEO platform, Our true goal is to build an ecosystem within the existing legal framework», – stressed in the NEO.

As for the «new» events, which the developers planned to announce on Monday, it was a competition organized by Microsoft and NEO DevCon in Silicon valley. However, on Friday the leaked data and the template of the website of the competition spread in the network. As a result of surprise failed.

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The issuance of $50 million USDT had no impact on the cryptocurrency market

More than $50 million licenzirovanie dollars issued by the Tether at the beginning of August, do not affect the situation in the cryptocurrency market. To such conclusion analysts of Blumberg, calling previously submitted to the approval of the researchers from the University of Texas about the involvement of the Tether to the manipulation of the price of bitcoin (BTC) is untenable.

If last year’s release party of the USDT coincided with the unprecedented growth of the main cryptocurrency, this year’s release licenzirovanie dollars Tether did not cause a similar effect. On the contrary, bitcoin has shown a depreciation of 15%.

Recall cryptocurrency Tether, the rate is pegged to the dollar at a 1:1 ratio, have been criticized for their alleged influence on the exchange rate of bitcoin.

In an article published in mid-June, said that bitcoin has reached its historical maximum in $ 20,000 due to price manipulation, which involved as a Tether, and the sixth largest crypto currency exchange Bitfinex, which is the only direct client Tether.

In June Tether USDT issued $250 million in Maker of Litecoin Charlie Lee (Charlie Lee) said that this might signify the coming increase in the demand for money and of course bitcon, as usually happened after the release of a new volume USDT. Earlier this year, Tether has released USDT $300 million in March and $250 million in may.

The situation around the Tether caused the excitement cryptosuite and subsided, when a legal company, Freeh Sporkin & Sullivan, LLP (FSS) reported that they had access to the Bank accounts of the Tether and can confirm that on June 1, the balance on them was about $2.55 billion

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Financial regulators in Sweden and New Zealand spoke on ICO

Financial regulators in Sweden and New Zealand spoke on ICO

«The financial Supervisory authority of Sweden (FSA) issued an official statement about the risks associated with investments in primary supply of coins. In the published document, the ICO is defined as a term denoting the start of a new token or any other forms of digital access that is based on cryptography,» writes Bitcoin.com.

The financial regulator noted that the purpose of ICO is to attract private investment for further development of ideas into full-fledged business, and this is no different from public funding. In the published document also highlights five risk areas:

The lack of rights

The FSA noted that most of the ICO campaigns are not regulated by anyone, so they are not subject to oversight authorities, due to which there is no consumer protection. There are no guarantees that the issued token or the crypto currency will give the holder the right to make a claim issued to a person or organization.

The lack of market values

Also the Supervisory authority of Sweden said that, in most cases, requirements for digital asset are not available, and therefore the assets are not required to comply with the market cost. Also releases the person is not obliged to grant access to third parties to evaluate the data assets.

There is no guarantee of access to the secondary market

The FSA warned that it is not necessary that someone buys the digital asset back after the release of the ICO.

The absence of obligations to provide information

The Supervisory body also stressed that the producing person or entity has no obligations to provide information by the ICO and disseminated information does not necessarily go to the investors at the same time.

Risk of investment fraud

The FSA also warned that, in connection with the increasing number of ICO and the value of the cryptocurrency, and increases the number of cases of unscrupulous developers who are not planning any projects, but are looking for an easy way to make money.

A statement of the financial regulator of New Zealand on ICO

Recall that recently a similar statement was made by the Financial Markets authority of New Zealand (FMA). FMA recommends that organizations participating in the ICO in the first place to consult with the governing body regarding their legal obligations.

FMA recommends that any business planning to the launch of the ICO, contact the office at the stage of development. FMA will evaluate the specific characteristics and economic components of ICO, to understand whether a given ICO a financial product and, if so, how to regulate it.

In addition, FMA has released a guide for entrepreneurs and companies planning to provide services in the areas of exchange of cryptocurrency, crypto-wallets, as well as brokerage services. By providing these services, legal persons are obliged to register in the register of Financial Service Providers, and to comply with regulations of Law on Behavior in Financial Markets.

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The Finance Ministry has no plans to ban the cryptocurrency trading

The Ministry of Finance of the Russian Federation plans to ban the trade of bitcoin and is not going to legalize. This was stated by Deputy Minister Alexei Moiseev , the TV channel “Russia 24”.

“An outright ban is not planned, just not supposed to direct the legalization of this activity”, — said the Deputy Minister of Finance of the Russian Federation.

The Ministry intends to allow the ICO, but to make a certain regulation to protect investors who buy tokens, said Moses. For those who spend their placement, it is necessary to develop legal obligations, because now they are issued smart contracts having no legal force, he said.

Alexey Moiseev believes that after the ICO needs to be the possibility of secondary trade tokens. Not only, the Issuer shall have the right to redeem them, but assumes secondary trading between those people who have purchased tokens, says the official.

“Once we try it neat to register”, — assured the Deputy Minister of Finance.

Earlier, the Chairman of the Duma Committee on financial market Anatoly Aksakov has suggested to set a limit on the purchase token when conducting the ICO to 100 thousand rubles.

Recall, Russian President Vladimir Putin instructed the government and Central Bank to ensure adoption of the legal amendments for the regulation of raising funds and cryptocurrencies via ICO. The Bank of Russia stated that work on the legal definition of crypto-currencies and related instruments will be completed in the first half of 2018.

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In the UK for the first time an armed robbery with a taking cryptocurrency

In the UK, in the village of Moulsford January 22, four armed perpetrators robbed a cryptocurrency trader, however the incident became widely known after almost a week.

After crossing the fence and knocking the door, the robbers broke into the house of the head of company Aston Digital Currencies Ltd. Danny Aston (Aston Danny), tied his girlfriend and co-Director of the company, of their child in the stroller was taken out to the yard and at gunpoint demanded the victim to transfer to their account a certain amount in bitcoin. The exact amount is not known, but Aston says that they moved all their savings.

Reportedly, the attack the victim was not physically hurt, but after the stress I decided to go to relatives. Black robbers, who, according to eyewitnesses, at the time of the robbery, hid the faces under balaclavas and were dressed in black tracksuits, has not been apprehended. Police patrol the area to ensure safety shut several schools.

It is assumed that the attackers except Goldiath alias, under which Aston have made the cryptocurrency of the transaction, knew his real name and financial condition. According to The Times, Aston spent more than 100 thousand trading operations with cryptocurrencies, and has also advised and provided analysis on this topic online. Some clients have called him to open correspondence with the actual name, and it could help robbers to know his residential address.

Recall that recently in the capital of Canada, the three robbers took office with four employees and tried to steal cash. Previously in Thailand countrymen robbed of $100 thousand in bitcoin, the famous Russian blogger CryptoBoss. And near St. Petersburg, unknown assailants beat and robbed a popular blogger, founder of the YouTube channel “Cryptic”, Paul nasina.

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Against the backdrop of falling prices, the volatility of bitcoin has increased more than three times

While the focus of the community has been drawn to the collapse of the cryptocurrency market, including the new annual minimum bitcoin data Bitcoin Volatility Index on the website Buybitcoinworldwide showed that the volatility of the first cryptocurrency in the last month rose more than three times. This writes Cointelegraph.

According to the resource, Sunday, December 9, the volatility of the BTC/USD is made up 5.53%, while a month ago the rate was 1.57 percent.

The publication also notes that until the 19th of November, volatility remained at the same level, but then just one week increased from 2% to 4.53%, and on November 29 crossed the mark of 5%.

At the same time, data for the previous 30 days (October 9 — November 9) show that the volatility of bitcoin remained below the level of 2.06%, remaining the greater part of this period, between 1.5% and 1.7%.

Analysis of the 6-month chart shows intermittent but steady decrease in volatility from mid-August, from a peak of 3.84% to 0.73% in mid-November, when it started a new exponential growth of this value.

The last time the indicator of the volatility of bitcoin was at this level in mid-March, when the first cryptocurrency was trading around $8771 dollar.

In early October, bitcoin reached its lowest in 17 months level of volatility that, as the newspaper notes, has generated a lot of comments from the community members, as well as short lived joke that the first cryptocurrency suddenly became «absolute stankoinkom».

At the time of publication, the weighted average rate of BTC, according to CoinMarketCap, was $3,535.08 that by 2.53% than the day before and by 10.26% less than a week ago.

We will remind, earlier today the analytical Department BitMEX has introduced a new report which analyses the impact of the reduction in the price of bitcoin in the industry of mining.


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Play poker with the Vice President: PayPal has launched a reward system for employees on the basis of the blockchain

Leading payment system PayPal has launched based on blockchain technology a system of rewards for employees, the publication reported Cheddar with reference to the Director of innovation company Michael Todasco.

According to the publication, the program, which for the past six months led the team on innovations of PayPal, was launched in mid-November.

Within its framework, employees receive tokens for participating in associated with the implementation of innovative solutions programs and their ideas. These tokens are valid only within PayPal and can be traded through a public registry.

Michael Todasco compared the reward system with Venmo is a mobile payment service that uses public and private social channels. For example, employees can like and leave a comment about any of the innovative activities carried out inside PayPal.

The resulting tokens can be exchanged for more than 100 «life experiences» — play poker with the Vice President of the company, have a coffee or go for a jog with chief financial officer John Rainey or even participate in the morning classes martial arts with PayPal CEO Dan Schulman. There is also the opportunity for one day to borrow a dog of the top Manager of the company.

Note that in January of this year Dan Shulman called bitcoin «an inefficient way to transmit values,» but after a month it became known that PayPal is developing its own instant cryptocurrency payments.


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The price of Ethereum for the first time crossed the mark of $500

Today, November 29, several cryptocurrency has set new price records. Including Ethereum, which for the first time in history crossed the mark of $500.

According to Coinmarketcap, at about 12:34 UTC weighted average rate of ETH $501,68. During the day, the price of bitcoin has increased more than 8%.

At the time of publication of news Ethereum was trading at $513,97, and the market capitalization of cryptocurrencies has made $49,3 billion.

The total capitalization of the stock market currently exceeds $338 billion.

We will remind that today the new price records have also installed Bitcoin ($11 000) and Dash ($750).

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Financial regulators: Belgium created a website to counter cryptomaterial

Several government agencies of Belgium have created a website “too good to be true“, where he presented to potential kriptosistem tricks that scammers use to extort funds.

The concern of the authorities was the fact that the new scriptactive as “hype of the year” easy to start and use for illegal purposes: “Scam, drug trafficking, terrorism and other criminal activities”. The scammers often trust their views and statements.

To avoid becoming victims of fraud, users are recommended to carefully consider the information about the organizers of the project, ask clarifying questions and to evaluate the promise of high yield. In addition, investors are suggest to check how trustworthy the project, putting the domain name of cryptoprocta on the website.

Recall that in mid-may, the Commission on securities and exchange Commission (SEC), which took the fraud on the market of cryptocurrencies and ICO a priority for 2018, is decided to demonstrate the potential kriptosistem a typical website, which is created by scammers to raise funds for “promising” ICO projects.

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