Bitcoin was down as the Japanese financial watchdog’s move to file criminal charges against the Hong Kong-based cryptocurrency exchange, Binance, raised concerns. Internet behemoth Google is creating its own blockchain to support its cloud business and to catch up with new startups. And brother of the late Colombian drug lord Pablo Escobar has launched a bitcoin hard fork and said it is an alternative to Bitcoin, which he claimed was a scam by the US government.
Here is a wrap up of the main news from the cryptocurrency and blockchain space over the last 24 hours.
Bitcoin Suffers As Japanese Regulator Warns Crypto Exchange Binance
Japan’s Financial Services Agency or FSA has warned Hong Kong-based cryptocurrency exchange Binance for operating in Japan without a license. The FSA reportedly is planning to work with police to file criminal charges against Binance, which is believed to be one of the the world’s biggest cryptocurrency exchange operators, if it fails to halt its Japan operations.
Google Reportedly Developing Own Blockchain Tech To Support Cloud
Google’s parent Alphabet Inc. is developing its own distributed ledger or blockchain technology to give an edge to its cloud business versus those of rivals, Bloomberg reported Wednesday, citing people familiar with the matter. While it is unclear, when the internet giant would release a blockchain-based product, the company plans to offer a white-label version that other companies can test on their servers, the report said.
Pablo Escobar’s Brother Launches Dietbitcoin, Claims Bitcoin To Be CIA Scam
Bitcoin is a scam by the US government, said Roberto Escobar, the brother of the late Colombian drug lord Pablo Escobar, and he is offering the cryptocurrency community an alternative, dietbitcoin, a hard fork of the top cryptocurrency. The coin is offered at a 96 percent discount – only $2 versus original price of $50 – in a pre-ICO round 1. The Next Web news website reported the launch and confirmed Roberto Escobar’s involvement in the scheme.
IBM Launches Low Cost Blockchain Project Development Platform for Startups
Tech giant IBM unveiled a blockchain project development platform for startups, which is cheaper than its existing enterprise solution. The offering called IBM Blockchain Platform Starter Plan gives access to development tools, tutorials, and a development environment that will help startups create their network suing the Linux Foundation’s Hyperledger Composer, the company said.
Dutch Court says Bitcoin a Transferable Value
A district court in Amsterdam has stated that bitcoin represents a value and is transferable. The ruling gives the cryptocurrency some legitimacy for being recognized as a currency. The point was expressed in the court ruling favoring J.W. de Vries, who filed a claim against Koinz Trading BV, a cryptocurrency mining firm, for mining proceeds of 0.591 bitcoins.
Cryptojacking Peaked In Q4 2017 Amid Bitcoin Price Boom
The practice of cryptocurrency mining by hijacking computers, known as cryptojacking, reached greater heights in the final months of 2017, according to a new report on the cyber security threat landscape of the previous year. Symantec said it has detected 8,500 percent increase in cyber criminals trying to make money by hacking computers through coinminers in the last quarter of 2017, a period that witnessed steep rise in the value of cryptocurrencies.
Hong Kong Financial Regulator Halts ICO
Trading Regulator in Hong Kong has clipped the wings of an Initial Coin Offering (ICO) over non compliance with local regulations. Hong Kong’s Securities and Futures Commission (SFC) has halted Black Cell Technology Limited from issuing ICO expressing concern that the marketplace startup had engaged in “potential unauthorized promotional activities and unlicensed regulated activities.”
Easton Pharma In Talks To Develop Blockchain Platform
Easton Pharmaceuticals has initiated talks to develop a blockchain platform and cryptocurrency in order to streamline its supply chain of medicinal / recreational marijuana. The Canadian diversified specialty pharmaceutical company plans to launch a blockchain-based platform for medicinal marijuana for tracking it from the point of origin to the approved end users, preventing tampering and errors.
As of 6.42 am ET, Bitcoin was down 2.98 percent at $8,455.01 and Ethereum was lower by 4.39 percent at $518.27 on Coinbase.
by RTT Staff Writer
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