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Nordea Bank now has the right to prevent its employees from trading bitcoin and other cryptocurrencies following a ruling by the Danish courts.

Per a verdict, Nordea is free to prevent employees from investing in bitcoin due to the risks associated with cryptocurrency.

Denmark’s union for financial industry employees filed a suit against the bank, as a result of a memo circulated in January 2018 warning employees that “the risks were too high” to trade in crypto. Nordea justified its ban by saying that the crypto markets were unregulated and linked to criminal activities, including money laundering.

On the bank's decision, Kent Petersen, the union’s chairman, said:

We filed suit because of the principle that everyone obviously has a private life and the right to act as a private individual.

He continued,

It was important for us and our members to establish what rights managers have. In this case, it was more far-reaching than what we find to be appropriate.

Danish courts have gone on to uphold Nordea’s restriction of employees trading crypto in their free time. The ruling does not apply to crypto-assets that were acquired prior to the ban.

From TestBoo.com - https://testboo.com/nordea-bank-can-legally-prevent-its-employees-from-trading-cryptocurrencies/

Money is godd


From testboo - https://myntkoin.com/see-who-stole-davidos-n4-5m-diamond-crusted-eyeglasses/

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Steve Mnuchin, the secretary of the U.S. Treasury, has revealed he is “fine” with the launch of the Facebook cryptocurrency Libra, as long as it follows strict financial rules.

Per a report by Bloomberg, Mnuchin revealed his thoughts on the Libra cryptocurrency while speaking in a Washington, D.C. hearing of the House Financial Services Committee, responding to a question from a lawmaker. He said"

I’m fine if Facebook wants to create a digital currency, but they need to be fully compliant. In no way can this be used for terrorist financing.

Mnuchin revealed he has met with Facebook various times to discuss regulatory concerns. The cryptocurrency is set to be governed by the Libra Association, and is reportedly going to be backed by fiat currencies and short-term U.S. Treasury bonds. The support in terms of fiat is set to consist of the European euro (18%), the Japanese yen (14%), the British pound (11%) and the Singaporean dollar (7%).

Mnuchin also talked about the U.S. developing its own digital currency, and noted that both he and Federal Reserve Chairman Jerome Powell do not see a need for it in the near future. Mnuchin stated:

Powell and I have discussed this – we both agree that in the near future, in the next five years, we see no need for the Fed to issue a digital currency.

It is worthy of note that the European central bank, according to a report, may launch its own digital currency if cash usage drops.

From TestBoo.com - https://testboo.com/steve-mnuchin-u-s-treasury-secretary-okay-with-facebook-libra/

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The European Central Bank (ECB) will launch its own cryptocurrency if the private sector fails to create an efficient solution for cross-border payments, and if cash usage drops.

Per a paper published this week, the ECB plans to accelerate the development of its own central bank digital currency (CBDC) if cash usage drops across Europe.

Europe currently has an ECB-backed project for real-time payments, known as TIPS. This has however been met with caution by commercial banks.

The document states that “signs of a future decline in cash usage could be a catalyst in accelerating central bank efforts in the area of central bank digital currency.” The ECB has been focusing more on digital currencies after social media giant Facebook announced it’s looking to launch its own cryptocurrency, Libra.

The document which is set to be discussed by EU finance ministers, reads:

If industry efforts fall short of developing an innovative and efficient pan-European payment solution, the social need for it could potentially be met by issuing a central bank digital currency.

It states that an ECB-backed digital currency could have “far-reaching implications” for the financial system

From TestBoo.com - https://testboo.com/european-central-bank-might-launch-digital-currency/

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Cryptocurrency exchnage OKEx has announced the launch date of its USDT-margined perpetual swap instrument.

According to a press release, the exchange's latest crypto derivative offering will be officially ready for trading on December 16th, 2019.

Just like the traditional futures trading offered on OKEx, perpetual swaps essentially involve placing a bet on the future price of an underlying cryptocurrency. As in futures, traders can either open a short position, if anticipating a price drop or establish a long position, when expecting an increase.

But it is different from futures trading in the way that perpetual swaps continue indefinitely. Okex tweeted:

"NEW LAUNCH: After successfully launching #OKExUSDTFutures, we're now rolling out USDT-Margined Perpetual Swap!

Try out #OKExUSDTSwap Simulation to win daily & grand prizes, totaling >50,000 $USDT"

OKEx' USDT-margined perpetual swap has several underlying cryptocurrencies to speculate on which includes BTC, EOS, ETC, ETH, LTC, BCH, BSV, TRX, and XRP.  Moreover, straight off the bat, OKEx will be offering a massive range of leverage, varying from 0.01–100x.

On the reasoning behind it Jay Hao, CEO of OKEx said:

OKEx has been at a stage where we kept evolving. We received great response from users after the launch of USDT futures trading last month. It has been a good example of us demonstrating our commitment in cultivating a good vibe in the derivatives space. Our goal is to provide a one-stop shop for professional and retail traders, offering both spot and derivatives product portfolio in one place. We’re always working to meet the needs of users in a shifting global economy and cryptocurrency ecosystem.

From TestBoo.com - https://testboo.com/okex-to-launch-usdt-margined-perpetual-swap-trading/

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Some of the countries in the African continent are already buckling their shoes to key into the concept of cyrptocuurencies while some like Nigeria is still sleeping. Nigeria as a country banned banks from dealing in cryptocurrencies.

But the central bank of South Africa is about to introduce new rules to govern the use of cryptocurrency in the African country.

Per Business Report, the South Africa Reserve Bank (SARB) is readying itself to deploy the new rules early next year.

Kuben Naidoo, SARB deputy governor reportedly told the press last week that the rules bring the 5-year-long consultation period on the topic of digital assets to an end.

The bank is taking actions to prevent cryptocurrency from being used to evade currency controls. The new regulations would see to how much local currency can be sent outside the country.

Local banks in the country have already started tightening their grip on cryptocurrencies in the country.

First National Bank (FNB), one of South Africa’s biggest banks shut down the accounts of all companies dealing in cryptocurrencies.

In a statement, FNB said it took the course of action following a review of the risks associated with companies that handle cryptocurrency.

Africa has been said to be the continent that will determine the future of cryptocurrency though the idea of cryptocurrency is yet top be perceived by as serious by some of the countries in the continent.

From TestBoo.com - https://testboo.com/central-bank-south-africa-drafting-new-rules-cryptocurrency/

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Cryptocurrency exchange Binance has acquired Chinese blockchain data startup DappReview for a yet to be disclosed amount.

Per the announcement made December 2nd by Binance, one of the world’s leading cryptocurrency exchanges has acquired the world’s leading information and analytics platform for blockchain-based decentralized applications (dapps). DappReview tracks and provides data analytics for over 3,900 dapps across thirteen public blockchains.

Binance claims DappReview has attracted over 300,000 active monthly users across 120 countries.

Binance Chief Finance Officer Wei Zhou said:

On-chain applications are still the missing piece for mass blockchain adoption. The DappReview team has shown its commitment to dapps and strong execution in building a leading global dapps platform within a year of establishment. Binance and DappReview share a mutual goal of driving blockchain applications.

He continued,

This acquisition marks a significant step into the dapps ecosystem, and we will have more exciting developments in the near future.

From TestBoo.com - https://testboo.com/binance-acquires-dappreview/

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The U.S. Attorney for the Southern District of New York and the FBI announced the arrest of Virgil Griffith, an Ethereum research scientist. Virgil allegedly violated U.S. sanctions and traveled to North Korea to give the country “a presentation and technical advice on using cryptocurrency and blockchain technology to evade sanctions.”

Attorney Geoffrey S. Berman said in a statement Griffith “jeopardize the sanctions” that have been enacted to “place maximum pressure on North Korea’s dangerous regime.”

Berman said:

“As alleged, Virgil Griffith provided highly technical information to North Korea, knowing that this information could be used to help North Korea launder money and evade sanctions."

Griffith reportedly attended a North Korean cryptocurrency conference in April of 2018, and in it discussed with other attendees “how the DPRK [North Korea’s official name, the Democratic People's Republic of Korea] could use blockchain and cryptocurrency technology to launder money and evade sanctions.”

The masses are saying that the Ethereum Foundation had nothing to do with Griffith’s trip, saying it was a personal choice. One of Ethereum’s co-founders, Vitalik Buterin, showed support for a petition to free Griffith.

From TestBoo.com - https://testboo.com/arrest-ethereum-researcher/

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A new legislation passed by the German parliament will allow banks in the country to sell and custody cryptocurrencies. The new law will be effective on January 1, 2020 and comes as an amendment to the fourth EU Money Laundering Directive.

The law initially required banks to seek third-party custodians but it's final version will allow them to get a license to custody cryptocurrencies themselves. While some claimed the new legislation will allow Germany to become a cryptocurrency haven, others expressed concern when it comes to consumer protection, as people may invest in crypto via their banks, without understanding the risks.

A partner at Hamberg-based Distributed Ledger Consulting, Sven Hildebrandt, praised the new law as a step for Germany "to becoming a crypto-heaven."

Hildebrandt said "The German legislator is playing a pioneering role in the regulation of crypto storage,"

"So far, distribution was only possible for the banks through special bonds. Here, they had to inform their customers in advance about costs and key investor information. This is not the case in direct sales of bitcoin and co," Nauhauser told Handelsblatt.

From TestBoo.com - https://testboo.com/german-banks-sell-crypto-2020/

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The firm behind the 12th biggest cryptocurrency Cardano (ADA), Cardano Foundation, has launched AdaPay, an ADA payment gateway for merchants.

The gateway developed by Coti allows merchants to accept ADA payments with “near-instant” settlement in 35 fiat currencies directly in their bank accounts. This is according to the firm's announcement.

The Cardano payment solution is now available to be integrated directly into merchant’s website, using either an AdaPay button or a QR-based point of sale system, according to the announcement.

To enable the merchants to manage real-time transactions in ADA, the solution uses Coti’s Universal Payment Solution (UPS) to further extend the utility case for the token. The payment tool is expected to combine “all existing support systems of traditional payment processors with the added value of digital assets,” as previously announced.

As a result of the news, ADA is up around 0.2% over the past 24 hours, trading at $0.039 at the time of this writing.

From -TestBoo.com - https://testboo.com/cardanos-payment-gateway-for-merchants-goes-live/

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Mohammed bin Salman, Saudi Crown Prince arrived in the United Arab Emirates (UAE) for an official visit yesterday to discuss joint policy measures, including a digital currency plan.

Private English-language daily UAE newspaper The National on On November 27th reported that Prince Mohammed was welcomed by His Highness Sheikh Mohamed bin Zayed al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The two leaders reportedly officially agreed on four new policy partnerships and on the agenda was a policy to launch a digital currency to facilitate interbank trading between the two countries.

Remember that details of the jointly-issued digital currency were revealed by the United Arab Emirates Central Bank (UAECB) and the Saudi Arabian Monetary Authority (SAMA) in January of this year.

Today’s discussion situates the policy among the foremost partnerships between the countries — alongside agreements that include the construction of a major new oil refinery with a daily capacity of 1.2 million barrels and to cooperate on cybersecurity.

Per the National, Bank officials from both countries will be meeting in Riyadh this week to discuss challenges and opportunities in their respective financial sectors.

From TestBoo.com - https://testboo.com/saudi-uae-digital-currency/

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Jack Dorsey says Bitcoin (BTC) will see its future “defined” by Africa after completing a tour of the continent.

In a tweet on November 27th, Twitter and Square CEO Jack Dorsey said he would return to Africa in 2020 after spending time in Nigeria and Ghana this month.

“Africa will define the future (especially the bitcoin one!),” he commented, revealing he planned to spend up to six months on the continent next year.

During his stay in Nigeria, Dorsey attended a Bitcoin meetup, continuing his personal advocacy of the cryptocurrency.

Jack pledged to integrate Bitcoin functionality into both Twitter and Square and he has also publicly endorsed the Lightning Network as a payment solution, something which allows Bitcoin users to send funds instantly.

Africa continues to generate significant interest in Bitcoin as Nigeria regularly features among the most active countries in terms of Bitcoin Google searches. Nigeria is yet to adopt a formal regulation of cryptocurrency.

Lagos, Nigeria is predicted to become a giant metropolis of over 32 million people as soon as 2050 and the cryptocurrency market is already booming in this city. Data from the World Economic Forum, revealed that it will be the most populous city in the world by 2100.

From TestBoo.com - https://testboo.com/future-bitcoin-africa-jack-dorsey/

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The governor of the Bank of Ghana (BoG), said in a keynote address that the country is exploring the possibility of issuing a central bank digital currency (CBDC).

Ernest Addison, an economist serving as governor of the BoG, gave the keynote address during the 23rd National Banking Conference, which was held on Tuesday November 26th at the Chartered Institute of Bankers in Ghana.

Per the transcript of his speech, Addison said the central bank was exploring the possibility of issuing its own digital currency.

He stated that the bank was "in discussion with key stakeholders" to look into the idea of a CBDC pilot project  (in a sandbox environment) "with the possibility of issuing an e-cedi in the near future."

The governor said that a digital currency was in-line with the nation’s effort to modernize the financial and banking sector.

It is worthy of note that Ghana's economy is not what it used to be before when the Cedi had no value. The exchange rate of the Cedi to dollar as at the time of this publication is 1 cedi for $0.18.

From TestBoo.com - https://testboo.com/central-bank-ghana-digital-currency/

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South Korean Crypto Exchange Upbit confirmed on Wednesday November 27th, 2019 that it had 342,000 ETH stolen from its hot wallet.

Via a notice posted on its website, Upbit explained that at 16:06 UTC (13:06 Korean time) on November 27th, 342,000 ETH (worth approximately $49 million) was transferred from its hot Ether wallet to "an unknown wallet". The address of this wallet is 0xa09871AEadF4994Ca12f5c0b6056BBd1d343c029.

Upbit responded thus as soon they noticed this.

All cryptoassets in its hot wallets were moved to cold wallets.
Deposits and withdrawals were suspended and they will not be resumed for "at least two weeks".

According to the exchange, it will cover this loss out of its own funds. Upbit's announcement never said the exchange was hacked which creates a  possibility that this could have been an inside job.

Co-Founder and CEO of crypto exchange Binance, Changpeng Zhao says Binance will work with Upbit and others to make sure that any stolen funds that make their way to Binance are frozen. He tweeted:

"We will work with Upbit and other industry players to ensure any hacked funds that may make their way to Binance are immediately frozen.

Stay #SAFU "

From TestBoo.com - https://testboo.com/cypto-exchange-upbit-confirms-theft-of-342000-eth/

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BitBay revealed that it will discontinue support for privacy-focused cryptocurrency Monero (XMR) following concerns related to regulatory compliance.

Per an announcement published on its website on November 25th, BitBay is ending support for Monero due to the coin’s ability to “selectively utilize anonymity features.”

The exchange said the decision to discontinue support was made to block the possibility of “money laundering and inflow from external networks.”

Bitpay said:

As a licensed exchange, BitBay has to follow the market standards. Compliance with market standards and regulations allows us to provide our clients with legal security and convenience of using the exchange, with the participation of a friendly banking system and the availability of payment operators.

The exchange said their is a halt to all XMR deposits that will go into effect on November 29th.

Trading support for Monero  will stop on 19th February 2020 and outstanding orders on the books will be canceled.

You ought to have withdrawn your XMR from the exchange by 20th May 2020.

From TestBoo.com - https://testboo.com/bitbay-discontinue-support-monero/

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Thailand’s Securities and Exchange Commission (SEC) intends to amend its digital asset business regulations in 2020 to hasten crypto assets adoption.

Per report by Bangkok Post, the Thai SEC is planning a series of amendments to its digital asset business regulations next year in order to facilitate the growth of digital assets while “protecting investors from unnecessary risk.”

Ruenvadee Suwanmongkol, SEC secretary-general told the press:

"The regulator must be flexible to apply the rules and regulations in line with the market environment.”

She added:

“For example, laws should not be outdated and should serve market needs, especially for new digital asset products, and be competitive with the global market. We need to explore any possible obstacles."

According to Ms. Ruenvadee, while the SEC seeks to foster digital asset innovation, the regulatory body is also concerned with consumer protection.

The former SEC secretary-general, Rapee Sucharitakul, said in a statement last year:

"The legislation also aims to protect investors from risk of fraud and deception by dishonest persons, money laundering and exploitation of digital assets to facilitate illegal financial transactions, while ensuring regulatory clarity to facilitate legitimate uses of digital assets.”

It is worthy of note that only five Thai companies have been awarded digital asset exchange licenses to operate within the country.

From - TestBoo.com - https://testboo.com/thai-sec-to-foster-greater-innovation-by-amending-crypto-laws/

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Two masked men broke into a Canadian health food store and took CA$4,000 ($3,000) cash from the Bitcoin ATM inside the store.

The food store, Simply Delicious is located in Vernon with population of around 40,000, a city in the Okanagan region of the Southern Interior of the province of British Columbia in Western Canada.

According to a report by Amy Castor, around 4 am on Tuesday, November 19th, the two masked robbers broke into the store, smashing the front windows in the process, and then headed straight to the Bitcoin ATM.

They smashed the Genesis Coin Bitcoin ATM installed in December 2018, and took around CA$4,000 ($3,000) cash from it, but "left CA$50,000 ($37,600) in a separate canister still inside the machine."

The police arrived at the store within 15 minutes of the alarms going off but the men had already fled the scene.

From TestBoo.com - https://testboo.com/robbers-steal-3k-from-bitcoin-atm-in-canada/

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The CEO of Paypal, Dan Schulman during an interview revealed that he does own Bitcoin (BTC).

According to Fortune, the PayPal CEO Dan Schulman stopped by its offices where he discussed many topics including the reason for PayPal’s withdrawal from the Libra Association.

Schulman explained that PayPal withdrew from Libra because the company decided to put its attention elsewhere. According to the CEO it was a question of “where do we want to put our attention, and what do we want to do today to advance our mission?” He said: “You know, we think if we focus on our own roadmap, we’d be able to advance financial inclusion faster than if we put all these resources against Libra.”

In May, PayPal’s CFO John Rainey said the firm has teams that are working on blockchain and cryptocurrency, and that they wish to participate in that technology in whatever form it takes in the future.

In the Fortune interview, Schulman never said anything in details as to what exactly PayPal is working on in the sphere. He said Paypal is not in any competition with Libra. The CEO said;

“We think there’s a lot of promise to blockchain technology. It’s intriguing to us, but it really needs to do something that the traditional rails can’t do. Most people think that blockchain is about efficiency, but the system today is pretty efficient.”

Regarding cryptocurrencies he said:

“Until it becomes less volatile, it won’t be a currency that is widely accepted by merchants on the web — not the dark web, but the web.”

On whether he owns cryptocurrencies, Schulman’s said:

“Yes, Bitcoin. [...] Only.”

From - TestBoo.com - https://testboo.com/paypal-ceo-dan-schulman-bitcoin/

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China might deploy its new digital currency within the next six months to a year, a local blockchain investor has said.

Edith Cheung, partner at blockchain-focused venture capital fund Proof of Capital, speaking to CNBC on November 20th looked convinced about the digital currency’s imminent arrival.

“I think definitely within the next six to twelve months,” she said;

China revealed it has been developing the virtual yuan for several years, but senior government officials have so far declined to state when it could become a reality.

Cheung reasons that China looks to become the first country worldwide to issue a digital incarnation of its national currency.

She said: “I really think the United States needs to hurry up; to have a strong thinking and policy, at least a direction for virtual USD,”

Earlier this month, another investor's forecast was that the digital currency would appear in just three months’ time.

Remember that China recently had an official endorsement of blockchain technology announced by President Xi Jinping last month.

From TestBoo.com - https://testboo.com/china-digital-currency/

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Bitcoin (BTC) exchanges in South Africa are on the edge of losing their banking support after a local bank confirmed it was closing their accounts.

According to My Broadband on November 19th, FirstRand Bank (FNB) one of the largest financial institutions in South Africa sent letters regarding the move to an unspecified number of “major exchanges,” including Luno, ICE3X and VALR.

Per Luno Africa general manager Marius Reitz, Exchanges affected have until the end of March 2020 to make alternative arrangements.

The letter from FNB blames regulatory uncertainty for the decision. An excerpt reads:

“FirstRand Bank has been considering its risk appetite in respect of virtual currencies and virtual currency exchanges for some time. Within this context the bank has taken the decision to discontinue the provision of banking services to virtual currency exchanges and/or entities dealing/trading in virtual currency. Future regulatory clarity may cause us to revise our decision.”

South Africa continues to enjoy a surge in cryptocurrency interest as its currency wavers. Peer-to-peer platform Paxful alone reported a 2,800% volume increase last month.

Reitz however said Luno was not concerned and that other lenders were still prepared to service the business while commenting on the loss.

He said: “We do not anticipate any impact to our existing customers as we have other banking relationships in place to support deposit and withdrawals on the platform,”

From - TestBoo.com - https://testboo.com/bank-close-account-bitcoin-exchange-south-africa/

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Binance.US, Binance's trading platform for customers resident in the U.S., announced on Thursday the 14th day of November, 2019 that it is going to add support for one more cryptoasset called NANO.

Binance.US is a digital asset exchange that is "powered by matching engine and wallet technologies" licensed from Binance but is operated by San Francisco-based BAM Trading Services.

Other cryptoassets that Binance.US has listed include:

November 7: VeChain (VET)
November 14: Qtum (QTUM)
October 10: Chainlink (LINK) and Ravencoin (RVN)
October 15: Dash (DASH)
October 17: Algorand (ALGO) and Zcash (ZEC)
October 22: BUSD and IOTA
October 24: Dogecoin (DOGE)
October 29: Waves (WAVES)

The new trading pair NAN/USD will go live at 21:00 EST on 21st November 2019 or 02:00 UTC on 22nd November 2019. Once trading in this pair has gone live, withdrawals will be made possible.

From TestBoo.Com - https://testboo.com/binance-us-list-nano/

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According to a post on November 19th on Reddit, published by the coin’s core development team the software available for download on Monero’s (XMR) official website was made in a way to steal cryptocurrency,

In the announcement, the team said the hash of the binaries available for download did not match the expected hashes. The command-line interface (CLI) tools available at getmonero.org may have been compromised over the past 24 hours.

On GitHub, a professional investigator going by the name of Serhack said that the software distributed after the server was compromised is malicious. He said:

“I can confirm that the malicious binary is stealing coins. Roughly 9 hours after I ran the binary a single transaction drained the wallet. I downloaded the build yesterday around 6pm Pacific time.”

Hashes are non-reversible mathematical functions which are used to generate an alphanumeric string from a file that would have been different if anybody was to make changes to the file.

It is a practice in the open-source community to save the hash generated from software available for download and keep it on a separate server.

If the hash generated from the downloaded file is different, then there is a high possibility that the version distributed by the server has been replaced. The Reddit announcement reads:

“It appears the box has been indeed compromised and different CLI binaries served for 35 minutes. Downloads are now served from a safe fallback source. [...] If you downloaded binaries in the last 24h, and did not check the integrity of the files, do it immediately. If the hashes do not match, do NOT run what you downloaded.”

From - TestBoo.Com - https://testboo.com/malware-monero-website-steal-crypto/

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Via a blog post on November 19th, LocalCryptos which was formerly known as LocalEthereum, said it had completed a very important step of adding support for Bitcoin as well as Ether (ETH).

Localethereum blog post reads “The platform is a one-stop shop for fiat-to-crypto ramps worldwide, beginning with BTC and ETH,” . It thus described the move transfer from LocalEthereum to Localcryptos.

More cryptocurrencies will join this in the nearest future:

“LocalCryptos will list some of the most popular Ethereum-based tokens over time. We’ll develop a new smart contract to handle ERC20s, and, in the more distant future, ERC721s.”

The move comes a week after LocalBitcoins revealed its registration with regulators in its home country of Finland. Part of a multi-year scheme to formalize its compliance, LocalBitcoins is now an official virtual currency provider in the eyes of the Finnish Financial Supervisory Authority or FIN-FSA.

After this many users found out that they were no longer able to carry out their transactions anonymously.

Executives had phased out ways of trading on LocalBitcoins without revealing one’s identity, banned cash trades and made ID submission obligatory.

From - https://testboo.com/localethereum-adds-bitcoin-as-localbitcoins-details/