- VanEck resubmits its Bitcoin ETF application
- Binance allows buying crypto with credit and Debit cards
- Merck receives US Blockchain Patent
- Crypto Crimes peak again
- Iran reverses its Crypto Ban
- ICO regulation in Malaysia
- Gemini passes SOC 2 security audit
VanEck resubmits its Bitcoin ETF application
With VanEck’s withdrawal of its application, it looked like a dead-end for Bitcoin ETF. But this week bought back all the excitement as VanEck resubmitted its application. What looked like a masterstroke, now with a new application, VanEck has just forwarded its deadline to at least few months which could be enough time for market conditions to improve and most likely Bakkt would have been launched bringing an end to all the doubts SEC has with respect to an ETF.
Binance allows buying crypto with credit and Debit cards
Binance, the world’s largest cryptocurrency exchange by market cap of $618 million as per the data provided by the Coinmarketcap has just announced that users will be now able to buy cryptocurrencies through their debit and credit cards. The exchange partnered up with the Israel-based payment processing firm Simplex to enable the purchases with Mastercard and Visa.
Merck receives US Blockchain Patent
Another large global company embraces blockchain and this time it’s the pharma giant Merck. This week, Merck received a patent relating to “crypto-objects ” from the United States Patent and Trademark Office (USPTO). This patent builds upon others that the company has established and combines Artificial Intelligence (AI) with blockchain technology. It this innovation goes through, it is expected to improve the integrity of physical products, in pharmaceuticals, in global supply chains.
Crypto Crimes peak again
Crypto industry is definitely maturing but the shadow of wrong activities still spreads darkness over the crypto world. According to the latest report released by CipherTrace’s new Cryptocurrency Anti-Money Laundering Report, crypto crime hit a record high. The report said that $1.7 Bn in cryptocurrency was stolen and scammed in 2018 — a dramatic rise in criminal activity, a whopping 3.6 times more than in 2017.
Iran reverses its Crypto Ban
Well as the acceptance of crypto is raising, more and more countries are moving towards regulaltion. The recent addition to this list is Iran which has taken a complete u turn from banning crypto to now regulating it. The Central bank of Iran had last year banned cryptocurrecy, but now has released an early draft of its regulations on cryptocurrencies. As reported by Aljazeera, the Apex Bank of Iran has announced the suspension of the existing ban on cryptocurrencies with limited restrictions.
ICO regulation in Malaysia
After Iran, another Asian country is regulating crypto and this time it is the island nation of Malaysia which is regulating cryptos and ICO. Accroding to the recent annocement, the Securities Commission Malaysia has shared plans to regulate the offering and trading of digital assets such as cryptocurrencies and ICOs. The Commission has said that it will soon release guidelines that will establish the criteria for determining fit and properness of issuers and exchange operators, disclosure standards and best practices in price discovery, trading rules and client asset protection.
Gemini passes SOC 2 security audit
Billionaire Bitcoin investors Tyler and Cameron Winklevoss‘s Newyork based trust reached a new milestone. They have successfully cleared the criteria that fall under SOC 2 review for Service Organization Type 1 as per the American Institute of Certified Public Accountants (AICPA) guidelines. Big 4 auditor Deloitte & Touche LLP (Deloitte) performed an independent evaluation of the security controls maintained at the trust.