NEWS UPDATE

Indian Exchange Zebpay Launches Crypto-to-Crypto Trading

Indian cryptocurrency exchange Zebpay has launched its first crypto-to-crypto trading pair.

Established in 2015 and headquartered in Mumbai, Zebpay claims to be India’s besk cryptocurrency exchange. In March, the company said that its app had more than three million downloads, “making it the most downloaded cryptocurrency app on both iOS and Android in India.”

Citing that its “engineers have been working round-the-clock to launch crypto-to-crypto trading,” the exchange detailed this week:

The “crypto-to-crypto trading characteristic will be ready for use in the new app update: Android version 2.0.14 and iOS version 2.0.24,” the exchange explain, adding that the fees for all crypto-to-crypto transactions will be charged in bitcoin.

A leading cryptocurrency exchange in India, Zebpay, has brought in crypto-to-crypto trading on its platform. The launch closely follows the Reserve Bank of India banning banks from servicing crypto exchanges. Meanwhile, Zebpay celebrated its 3 millionth app download.

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NEWS UPDATE

Security Firms Offer Protection for Crypto Traders in Moscow

Private security companies in Moscow are offering a new service –guardianship for people buying and selling cryptocurrency for cash. The companies have also expressed readiness to help investigate crypto-related crimes. Police are still unwilling to work on such cases, as cryptocurrencies are not yet regulated in Russia.

Several security companies in the Russian capital are now offering guardians to people trading cryptocurrencies offline. Deals always take place right on the street and involve crypto transactions through mobile or hard wallets and cash transfers. Virtual and fiat funds are often lost by a crypto user falling prey to modern day criminals.

A growing number of cases of cryptocurrency-related fraud and theft have been reported by Russian media in the past few months. While police are still unwilling to work on these cases, as cryptocurrencies are not yet regulated in Russia, their colleagues from the private sector have expressed eagerness to help with the investigations.

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NEWS UPDATE

Philippines Welcomes Crypto Economic Zone

After hemming and hawing in its strange relationship with cryptocurrencies and the businesses they indicate, the Philippine government chose to make room for a set aside economic zone. The scheme is offered in hopes of generating more tax income, employment for its people, and probably a dedicated crypto university.

Cagayan Economic Zone Authority (CEZA) spokesman Raul Lambinos told Reuters, “We are about to licence 10 platforms for cryptocurrency exchange. They are Japanese, Hong Kong, Malaysians, Koreans. They can go into cryptocurrency mining, beginning from coin offerings, or they can go into exchange.” Exchanges supplying onramps to the nation’s fiat money, on the other hand, are stimulated to launch offshore to avoid running afoul of Philippine law.

Such zones give favorable tax regimes in the hope of creating more employment for Filipinos. Early this year, the country legalized such zones for crypto, which appears to be more welcoming to digital assets than other countries in the area.

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NEWS UPDATE

New Party in Ukraine to Fund Itself Only with Cryptos

A newly formed party in Ukraine has made a solemn promise to depend only on cryptocurrency contributions to maintain its activity and never to accept money from the oligarchs. Weakening state control over economy and expanding civil liberties are among its main political priorities. The party wants to guide the interests of people and companies from the IT sector, as well those of small and medium-sized Ukrainian businesses in other industries.

Different prominent Ukrainian bloggers have made known the formation of arguably the world’s first political party which will fund its activities particularly through crypto contributions. The new right-wing, liberal political force, called “Democratic Horde”, intends to achieve its political goals mainly through Internet trolling, as stated on its website.

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NEWS UPDATE

Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban

Iran has been developing its own cryptocurrency, a project which has produce an experimental local crypto, regardless of the country’s central bank banning banks from dealing with cryptocurrencies. Iran’s Information and Communications Technology Minister has shed light on the project, commented on its alleged use to evade sanctions, and explained the central bank’s action.

Iran Continues to Develop State Cryptocurrency regardless of Central Bank Ban
Mohammad Javad Azari-Jahromi.
Iran’s Information and Communications Technology (ICT) Minister, Mohammad Javad Azari-Jahromi, disclosed on Saturday that “Iran has developed an experimental local cryptocurrency,” Reuters reported him saying. “Last week, at a joint meeting to review the progress of the (local cryptocurrency) project, it was made known that the experimental model was ready.”

His statement follows the ban by the Central Bank of Iran (CBI), stopping banks and financial institutions from dealing with cryptocurrencies such as bitcoin. The minister explained that the ban will not affect Iran’s cryptocurrency efforts. The news outlet convey.

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NEWS UPDATE

Japanese Forex Giant GMO to Launch New UK Crypto Trading App

Japanese brokers already rule the global online retail FX and CFD market by trading volumes. And it now looks like they will try to influence their country’s receptive regulatory atmosphere to extend internationally with crypto too. The recent example is an app in the UK created by two groups headquartered in Tokyo.

Z.com Trade, the international brand of Japanese forex giant GMO, has made known that it will launch a new FX and cryptocurrency mobile trading application in partnership with Finatext UK. Named “Pipster,” the app is expected to be released for Android and iOS in the coming months.

The developers say that the concept behind Pipster is to
Make available simplified, smarter trading platform to a new generation of traders. It is said to include price indicators based on technical analysis, upcoming events, news and social sentiment. The app will also focus on building a community and offer a range of learning materials including videos, interactive quizzes and diagrams designed to easily explain the basics of trading.

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NEWS UPDATE

Meitu Founder Announces Accumulation of 10,000 Bitcoins in 2018

Cai Wensheng, the founder of Meitu Inc., a Chinese technology company that makes smartphones and selfie apps, has made known that his bitcoin holdings have gotten to a personal milestone of 10,000 BTC. Mr. Wensheng also talked about his investments in alternative cryptocurrencies, and compared the present state of the cryptocurrency sector to that of the internet of the early 2000s.

In a current interview with entrepreneur Wang Feng, Mr. Wensheng disclose that his goal of owning 10,000 BTC had been achieved following extensive accumulation during the bear trend of 2018. “When I clearly saw the future of blockchain and bitcoin, I set a goal for myself – owning 10,000 bitcoins, and now the goal has been achieved,” he said.

Mr. Wensheng claimed that “Back in this January I only had different bitcoins, just to follow the trend.” Mr. Wensheng states that he then “realized that blockchain and bitcoin are the future,” leading to the entrepreneur to “set the goal of accumulating 10,000 bitcoins.”

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NEWS UPDATE

Cryptocurrency Recognized as Valuable Property by Russian Court

A Russian arbitration court of appeals has acknowledged cryptocurrency as a property with value in its ruling on Monday. This overturned a former ruling by another court even though Russia presently has no legal framework for cryptocurrencies.

The Ninth Arbitration Court of Appeals ruled on Monday that a bankrupt person’s cryptocurrency must be added in the debtor’s bankruptcy estate, local media reported.

The case involves Russian citizen Ilya Tsarkov who filed bankruptcy in October last year. The court has ordered his cryptocurrencies to be moved to the trustee, Alexei Leonov, who is expected to be handed the private key to the crypto wallet belonging to Tsarkov soon. According to Vedomosti, Tsarkov owns almost 0.2 bitcoin which is worth approximately US$1,885 at present market rates.

“The cryptocurrency was first acknowledged as property in Russia,” Ris Novosti reported. Leonov commented that with this ruling:

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