Digital Currency Weekly Recap 3-20-2016
Alleged Cryptsy Deal with Hacker to Resolve Stolen Bitcoin Issue
As if Cryptsy-related news wasn’t disturbing enough, a recent blog post from the exchange raised even more eyebrows this week. The post involved a recent “contract” signed by Cryptsy’s CEO Paul Vernon and an alleged hacker using the name “Cryptcracker.” The posted document appears to be an agreement by Vernon to pay the hackers a total of at least 1750 BTC in exchange for the recovery of the 13,000 coins that were reported to have been stolen from the exchange.
It should be noted that there has been no official outside confirmation yet that such a “deal” even exists, so the intrigue surrounding Cryptsy is likely to remain for some time to come.
African FinTech 100 and Awards Set for October 2016
The nominees for the FinTech Awards 2016 have been released, and winners will be revealed at the African FinTech 100 on October 13, 2016. The event will be held in Johannesburg, South Africa, and will be attended by representatives from a number of blockchain and digital currency companies, as well as various other FinTech innovators.
In addition to the award ceremony, the conference will also feature various master classes and round tables, as well as concept pitches from many of the attendees. This year’s inaugural award nominees include companies like Zoona, Kobocoin, M-Pesa, and many others,
Coincheck Now Supports Ether Trading
Japanese exchange Coincheck.jp recently announced that its trading platform will now provide support for Ether. The Bitcoin exchange will offer users the opportunity to trade and manage Ether using their existing Coincheck wallets, and purchases can be made using bank transfers. Coincheck has also declared its intent to eventually offer credit card purchases.
New Bitfinex Policy for Law Enforcement Requests
Bitfinex has recently updated its policies, including how it manages requests for disclosures to law enforcement agencies. The Hong Kong exchange’s most recent policy update includes a Law Enforcement Request Policy that declares that Bitfinex will only hand over information to law enforcement personnel when the proper search warrants or subpoenas are issued.
Uphold Platform to Support Ethereum and LiteCoin
In a recent announcement on its blog, the Uphold exchange platform recently revealed that both Ethereum and LiteCoin will be added to the platform in the coming months. This is a major departure for Uphold, which until now has only supported Bitcoin. The present plan is to add LiteCoin in April, 2016 with Ethereum joining the exchange the following month.
Coinbase Exchange Adds Stop Order Option
Coinbase recently revealed through its blog that it is adding stop order capability to its exchange platform. The feature will function in the same manner as other types of investment stop orders, allowing users to set predetermined conditions that would trigger buying or selling of Bitcoin. The move is seen as a valuable tool that could help users to limit their losses and take advantage of positive market shifts in a more timely and responsive manner.
Russia’s QIWI Claims BitRuble Safe from Government Money Surrogate Ban
Earlier this month, the Russian Ministry of Finance made news again with its proposal to institute harsh measures against anyone who issued so-called money surrogates – a term that would encompass digital currencies like Bitcoin, DNOTES, and others. A spokesman from the Russian company QIWI, however, seemed unmoved by the threat as he declared that the firm’s BitRuble project would not qualify as a money surrogate under the rule.
According to the company’s director of cryptotechnology development, Alexei Arkhipov, QIWI does not even view BitRuble as a digital currency. Instead, the BitRuble is referred to as e-cash or cryptomoney. And while some outside observers might view that as a clever attempt to avoid legal consequences by calling a rose a violet, Arkhipov was adamant that there is a difference. One difference appears to be the current plan to have BitRuble tied directly to the ruble – something that might help it to be viewed as internet money rather than cryptocurrency.