Singapore’s Court of Appeals Rules Quoine Exchange in Breach of Contract in Landmark Crypto Case

Singapore’s Court of Appeals has ruled against digital currency exchange Quoine on Monday in a landmark case relating to a breach of contract that saw the platform unlawfully reverse seven trades. The Straits Times reports that the case marks the first of its kind in the country’s history regarding a dispute involving cryptocurrency and concludes a legal battle that began almost three years ago. Quoine, the parent company of well-known Japanese trading platform Liquid, now faces settlement proceedings after the court rejected its appeal that it had the right to…

Bitcoin’s Coronavirus Selloff Throws Cold Water on Safe-Haven Argument

As U.S. stocks tumbled on Monday by the most in six months amid renewed coronavirus fears, bitcoin barely budged – at least in terms of the notoriously volatile cryptocurrency’s trading history. Bitcoin (BTC) was down 4.6 percent as of 6:17 p.m. UTC (1:17 p.m. ET) to $9,517. But a decline of that magnitude represents merely the biggest drop since last week; already this year, bitcoin has suffered six other single-day losses of 3 percent or greater. And due to a powerful rally in recent months, the cryptocurrency’s price is still…

New Jersey Lawmaker Wants to Create a Crypto License

A New Jersey lawmaker wants to license crypto exchanges and custodians looking to conduct business in the Garden State. Assemblywoman Yvonne Lopez (D.-19) introduced the Digital Asset and Blockchain Technology Act Friday, putting forth a proposal to license any entity looking to provide digital asset trading, storage, purchase, sales, exchange, borrowing/lending or issuance services. The N.J. Department of Banking and Insurance would be tasked with overseeing this license and regulating businesses. The term “digital asset” encompasses virtual currencies, digital securities and other assets, including anything with a transaction history recorded…

CME Bitcoin Futures Daily Trading Volume Hits 2020 Low – That’s a Bullish Sign

Daily trading volume in bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) dropped to year-to-date lows on Friday.  The volume hit $118 million, the lowest level since Dec. 31. On that day futures recorded volume of $112 million, according to Skew Markets.  What’s worth noting is volumes have pulled back sharply from the multi-month highs registered on Feb. 18. CME traded $1.1 billion in volume this past Tuesday. That was the first above-$1 billion daily volume since June 27, 2019.  Bitcoin CME futures contracts, which went live in…

SEC to Decide the Fate of Another Bitcoin ETF Proposal This Week

The U.S. Securities and Exchange Commission (SEC) is once again poised to approve or reject a bitcoin exchange-traded fund (ETF), when Wilshire Phoenix’s United States Bitcoin and Treasury Investment Trust meets a filing deadline Wednesday. Wilshire Phoenix is the latest in a long line of companies hoping to secure SEC approval to list shares of a bitcoin-related ETF, and the only one that has an active application before the securities regulator. Such an instrument would allow retail investors to get exposure to the bitcoin market without what some see as…

How to Protect Bitcoin for Your Heirs With the Push of a ‘Dead Man’s Button’

What happens to your bitcoin after you die? This is more than just a philosophical question: It could involve a substantial amount of currency. The question of crypto and the Great Beyond is what prompted about 20 or so developers to get together in London recently to experiment with repurposing the current lightning protocol to send private messages as a “dead man’s button,” a system that can’t be censored and would keep your crypto safe for your heirs. Lightning Labs infrastructure engineer Joost Jager has been exploring using lightning for…

‘Crucial’ for Central Banks to Consider Digital Currencies: Bank of England Exec

The Bank of England’s (BoE) chief cashier, Sarah John, has said it is “crucial” that central banks research digital currencies so they can strike a balance with private issuers. John said it was “really important” BoE and other central banks considered whether digital currencies could form the basis of a new payment system and, if so, “quicken the pace” on determining how to regulate the new asset class. The BoE needs to consider its position on the technology to ensure the U.K. has “a broad range of payments that it…

How the Ethereum Foundation Got UNICEF to Embrace Blockchain

Donating to the United Nations Children’s Fund (UNICEF) may turn out to be the Ethereum Foundation’s shrewdest move yet.  “We are still discussing the details on what we can do together, but we have decided to continue support for the next couple of years,” said Ethereum Foundation Director Aya Miyaguchi. “I believe a partnership with a group like UNICEF can maximize our impact without shifting our focus from what we still need to do to improve Ethereum as a technology.” The foundation donated roughly $150,000 worth of bitcoin and ether…

Decentralization Philosophy: Does Crypto Still Need Catalysts?

The best Sundays are for long reads and deep conversations. Earlier this week the Let’s Talk Bitcoin! Show gathered to discuss catalysts and CEOS in the world of blockchain projects, the organizational and organic structures of decentralization and to wonder whether crypto even needs Satoshi-like catalysts now that the fire of blockchain burns bright. On today’s podcast we continue the discussion, applying concepts and stories from “The Spider and the Starfish: The Unstoppable Power of Leaderless Organizations”, a formational book on pre-blockchain decentralization written in the early 2000’s, as the centralized US military…

Here’s Why Interest Rates on Cryptocurrencies Could Be a Game-Changer

Lending and borrowing cryptocurrencies is becoming an increasingly important sub-sector of crypto finance, one that may end up shaping how the underlying assets themselves are valued and priced in the markets.  While still in its infancy, the growth of crypto lending platforms has given birth to a new type of measuring metric: interest rates, which has the potential to draw in new investors while encouraging the movement of crypto capital out of storage and into markets. In traditional financial markets, interest rates reveal significant information about the health of the…