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  • Circle CEO Calls on Global Economies to Coordinate on Crypto Regulation
    by Helen Partz on October 23, 2018 at 4:55 pm

    Jeremy Allaire has called on the global community to a coordinate crypto regulation in an interview with Reuters. Jeremy Allaire, the CEO of crypto investment app Circle, has called on global economies to develop coordinated regulation of cryptocurrencies in an interview with Reuters Oct. 22.The CEO of the Goldman Sachs-backed crypto firm claimed that the global community should develop universal international rules for regulating the crypto space.Claiming that for the crypto industry “ultimately there needs to be normalization at the G20 level,” Allaire has paid special attention to the regulation of Initial Coin Offerings (ICOs), as well as stressed the need to adopt a coordinated approach towards crypto market manipulation and know-your-customer (KYC) policies.Addressing the existing problem of token taxonomy, Allaire pointed out the major problem of place all ICO tokens in one category:“When it comes to token offerings, how should they be treated? Which token offerings are securities, which are not?”In that regard, Allaire also commented on the recent announcement from the global money laundering regulator the Financial Action Task Force (FATF) Oct. 19.The France-based global watchdog stated they had establish regulation for crypto exchanges, digital wallets, and other crypto-related firms, implying mandatory licences and frameworks in order to combat money laundering and terrorist financing.The entrepreneur claimed that the FATF’s move is a “good start,” again emphasizing the need for special attention to ICOs and market manipulation.In July, G20 finance ministers and central bank governors confirmed that the crypto industry would remain functioning without strict universal regulation. The participants decided to push the deadline for developing specific crypto regulations to at least October, following a four-month consultation period. […]

  • Ethereum, Parity Co-Founder Announces Blockchain Framework for a ‘Multi-Chain World’
    by Marie Huillet on October 23, 2018 at 4:40 pm

    Parity Technologies co-founder Gavin Wood demoed a live blockchain launch using the firm’s new framework in just fifteen minutes at the Web3 Summit in Berlin today. Blockchain infrastructure firm Parity Technologies’ founder Gavin Wood demoed a live blockchain launch in just fifteen minutes at the Web3 Summit in Berlin Oct. 23, TechCrunch reports.Parity is a U.K.-based blockchain infrastructure provider, known primarily for developing one of the most well-known clients for Ethereum (ETH), which Wood also co-founded.In what TechCrunch describes as “a grand gesture,” Wood reportedly launched the live blockchain demo on a brand new Mac laptop, which he is said to have torn out of its shrink wrapping in a bid to highlight just how fast entire process of the platform launch could be.The blockchain framework demoed by Wood is dubbed “Substrate,” and is a framework for building blockchains and the underpinning tech of Parity’s “Polkadot” protocol – a form of “para chain” that links between many different types of blockchains – which is slated to be released at the end of 2019.Parity has reportedly outlined in an accompanying statement that while Polkadot and Substrate share a common aim, they are distinct in technological terms, with Substrate being akin to “the software or PC” that a someone might choose for an application, and Polkadot being “like plugging a network card into that computer,” given the protocol’s capacity to interconnect blockchains.Wood’s speech at Web3 reportedly revealed that Parity’s Substrate 1.0-beta will be out in November of this year, in what he described as “the biggest bet against blockchain maximalism.”His presentation is said to have framed Substrate as an antidote to an overly “nationalistic” blockchain space, in which, “maximalism creates barriers to entry and reduces the fun for technologists.” He outlined that the software will give developers “maximum freedom with minimal effort” as it is “highly customisable” and “adaptable,” designed as an “upgrade path” to interoperability with Polkadot.Substrate will reportedly moreover free developers from the life cycle of the Ethereum platform and its ongoing development; it is said to be “generic” enough to be compatible with future versions of the Ethereum platform. Wood is quoted as saying that he hopes it “will be a turning point” in the transition to a “multi-chain world.”Fellow conference speaker Trent McConaghy reportedly responded by commenting that Polkadot had made the blockchain tech ecosystem leap forward “between 2 and 3 years.”This summer, Cointelegraph published an interview with Parity CEO and co-founder Dr. Jutta Steiner, in which she outlined the importance of blockchain interoperability in the transition to the web 3.0 era. […]

  • Crypto Collectible Game Announces New Battles. Players Get Paid If They Win
    by Maria Yavuz on October 23, 2018 at 4:35 pm

    sponsored Collectible crypto game offers players the chance to get together to fight common enemies and earn rewards. The crypto collectible game, Blockchain Cuties, has announced Raid Boss Battles, a new everyday server event. The game promises winners will get unique ERC-20 CUTE tokens as rewards, according to their input in winning.New game featuresIn the new battle, there is one common enemy which is a Raid Boss, a special powerful Cutie who has unique abilities. All of the players (the main requirement for them is to be level 5+ Cuties) will be able to stand against the foe. The Raid Boss can be an Ancient Black Dragon, a Crystal Ether Monster, or a Wasteland Knight.Еach of the Raid Bosses is always a tailored experience that can be beaten by any Cutie eligible to fight it. In order to win, the user has to be aware of the Raid Bosses weaknesses which can be activated by sending a proper pet into a battle. This weakness changes every day. For example, if today’s Raid Boss can be beaten by Fire elements and Dog Cutie it makes sense to send dogs with strong fire element values to the battle. The players have to choose different Cuties for every raid. Each Cutie can participate in the raid once in 24 hours. The players also have to keep in mind an additional challenge: the Raid Boss is always six times stronger than the Cutie which is sent to battle it.The only way to obtain items and immense power in this game is to use CUTE tokens. All of these crypto coins can be stored in a special Blockchain Cuties wallet (BC wallet). The company has offered an internal wallet to users for authentication and in-game transactions since July 2018. It was the first time a game has presented such a feature. All of the data from the wallet is saved on the user’s side, in their browser’s local storage.Besides this local wallet, players can still store their credentials and access “outside” — in apps designed especially for collectibles. For example, crypto wallet provider Lumi has released a separate platform that can run on Android and iOS devices. The previous app solutions were based on built-in browsers. Lumi’s wallet allows owners to keep their assets based on Ethereum from games such as Blockchain Cuties. In addition to storing their collectibles, users can also exchange them. The app shows how much those assets are worth in BTC, ETH, and U.S. dollars.About Blockchain CutiesBlockchain Cuties is a game where players collect pets and cute animals such as puppies, lizards, bear cubs, or fantasy creatures. Each digital pet is unique and has a value in cryptocurrency. It can be sold or transferred to another player like regular tokens. Players can also level their Cuties up and breed them. The mutations make the creatures special and more valuable. Trading them on the in-game marketplace is one of the ways that users can earn money.Blockchain Cuties became a part of the boom of decentralized crypto games operating on the Ethereum blockchain. This trend started as well with the launch of CryptoKitties in November 2017, which became a sensation on the crypto market. In September, the company hit a milestone once players bred more than a million unique virtual kitties. CryptoKitties managed to account for about 25 percent of Ethereum’s traffic and get 3.2 million transactions on its smart contracts. The cost of the most expensive cat reached 600 Ethereum (about $170,000) and was sold on the official marketplace.The success of CryptoKitties inspired other developers to create their own crypto games based on collecting assets. A few months later, after CryptoKitties appeared on the market, around 70 percent of Ethereum DApps were taken by similar games. The developers of Blockchain Cuties followed the trend. Their game was released in April 2018. Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice. […]

  • Swiss Financial Association Publishes Anti-Money Laundering Standards for Digital Assets
    by Marie Huillet on October 23, 2018 at 3:15 pm

    Switzerland’s Capital Markets and Technology Association (CMTA) has published new anti-money laundering standards for digital assets and DLT in the financial market. The Switzerland-based Capital Markets and Technology Association (CMTA) has published new anti-money-laundering (AML) standards for digital assets and distributed ledger technologies (DLT) Oct. 18.CMTA is a non-profit, independent association established in Geneva earlier this year with the aim of promoting the adoption of DLT, such as blockchain, and digital assets in the financial markets.Its creation was a joint initiative from online bank Swissquote, market software provider Temenos, and the country’s largest law firm Lenz & Staehelin.  According to CMTA, the newly-published standards are designed to “clarify [...] measures to be taken in order to comply with the Swiss regulations against money laundering and the financing of terrorism.” As per CMTA general secretary Fedor Poskriakov, the document is intended to “pav[e] the way for a compliant tokenization of financial assets.”The document is split into two parts, the first of which outlines compliance standards for digital asset issuers, whether or not they formally designate themselves as Initial Coin Offerings (ICOs); the second addresses Swiss banks, securities dealers, and other intermediaries who may wish to enter into business relationships with digital asset issuers or investors, or whose business practices involve “a material exposure” to digital assets and/or DLT.Notably, the standards are not statutory and do not have formal regulatory status, yet CMTA states they “represent a consensus” among financial sector experts as to how good practice should be established and conducted in the emerging digital assets space.CMTA outlines that the guidance has been developed on the basis of a range of legislative frameworks, including the Swiss Anti-Money Laundering Act (AMLA), the Swiss Anti-Money Laundering Ordinance (AMLO), FINMA's Anti-Money Laundering Ordinance (AMLO-FINMA) and other laws for Swiss banks’ code of conduct and due diligence requirements.As reported last week, France’s intergovernmental organization, the Financial Action Task Force (FATF), has recently updated its standards regarding digital currencies to ensure that virtual asset service providers are subject to AML and CFT regulations.Earlier this week, Swissquote announced it had become “the first bank worldwide” to offer purchase and custodial services of ICO-issued tokens for clients. […]

  • Electronics Giant HTC Announces Presale of Its Blockchain Smartphone Exodus in BTC, ETH
    by Ana Berman on October 23, 2018 at 12:32 pm

    Electronics giant HTC announces the presale for its blockchain smartphone Exodus 1, selling for about $960 in BTC or ETH. Taiwanese electronics company HTC has announced the presale of its widely-discussed blockchain smartphone, Exodus 1, the product’s official Twitter account reveals Oct. 23.The Exodus 1 presale was officially announced today during the Web3 summit, taking place Oct. 22-24 in Berlin. According to the HTC Exodus website, “early access” to the phone can currently only be purchased via Bitcoin (BTC) or Ethereum (ETH), and is available to 34 regions, including the U.S., U.K. and Hong Kong.At press time, pre-orders for the Exodus 1 are listed at around $960 (0.15 BTC or 4.78 ETH), with shipping date stated as December 2018.As per the official announcement on Twitter, the company states it is seeking collaboration with “a community of developers and enthusiasts [...] to keep building security.”HTC first revealed its plan to launch blockchain-powered smartphone back in May 2018. The company then promised Exodus 1 would support “multiple blockchain protocols,” such as Bitcoin, Ethereum, Lightning Network (LN), and Dfinity network, as well as boast a universal cryptocurrency wallet.In July, HTC confirmed its plans to install a native crypto wallet inside its phone. The company also announced it would support CryptoKitties, the once-popular Ethereum-based decentralized application (DApp) game. Later that month Litecoin (LTC) founder Charlie Lee revealed that he would consult HTC in the making of the blockchain smartphone.However, the current Exodus 1 is not exactly what HTC had promised earlier, as U.S. tech journal The Verge points out. When announced in May, as The Verge reports, HTC’s “decentralized chief officer” Phil Chen had said that each Exodus phone would function as a “node” to facilitate bitcoin trading. Chen also stated at the time that the phone would allow users to “own [their] own identity.”The model available for pre-order today evidently provides a crypto wallet in a secure are “protected from the Android OS,” as The Verge notes, but the other promised features are reportedly lacking. […]