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Exchange loses access to 26,000 bitcoins

Candian crytocurrency exchange QuadrigaCX may not be able to access over CAD$250million worth of cryptocurrnecies including approximately 26,500 bitcoins that it was holding on behalf of its customers. The exchange's CEO, Gerald Cotten, unfortunately passed in December 2018 and it's presumed that he had sole access to the company's private keys holding their customers' coins. Cotten's widow, Jennifer Robertson, declared that she had been unable to access his laptop to an encrypted password; than a technical consultant has so far been unable to assist and that “Quadriga’s inventory of cryptocurrency has become unavailable and some of it may be lost"…
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Banking & Finance, Regulation , , ,

World Bank issues bond on the blockchain.

Commonwealth Bank of Australia is managing the issuance of a World Bank bond exclusively using a blockchain platform. The World Bank, which issues around US$60 Billion annually for the purposes of funding projects in 'developing' countries, used the CBA to issue the bond as Australia is pioneering the use of blockchain technology to settle financial transactions thus mitigating the archaic paper-based custodian system. image courtesy of Pixabay.com
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Tax, Uncategorized , ,

Bitcoin to be included in CFA curriculum.

The CFA (Chartered Financial Analyst) Institute has added to its curriculum topics on Bitcoin and the Blockchain. Though currently in a cryptocurrency bear market the managing director of the CFAInstitute, Strephen Horan is quoted as of Bitcoin 'This is not a fad'. The materials for the course will be released in August for the first exams on the subject in 2019.
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Banking & Finance, Editorial, Regulation, Tax, Uncategorized

The Accidental Bitcoiner

Through our daily research in the world of finance, geo-politics, and macro-economcis we come across interviews and research papers where the author either inadvertently, or despite themselves and their objections present what we believe is a pro-Bitcoin argument. This week's 'Accidental Bitcoiner' is Michael Pento of Pento Portfolio Strategies. In an interview with Chris Martenson on Peak Prosperity Podcast,  Mr Pento provides an in-depth analysis of Central Bank policies post-2008 and how the upcoming yield inversion will affect the global economic landscape. Mr Pento's opinions are summarised and we analyse that should his projections take effect this would lead to…
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Banking & Finance, Regulation, Tax , , , ,

Florida County accepts Bitcoin as payment

Seminole County in Florida has become the United State's first government agency to accept bitcoin as a payment method. In a press release the office of Joel Greenberg, the Seminole County Tax Collector stated: "For years, paying taxes by credit or debit card meant using a third-party processor with heavy fees. The blockchain allows the Seminole County Tax Collector to eliminate much of those heavy fees while improving payment accuracy, transparency, and efficiency which ultimately benefits Seminole County tax payers."
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Banking & Finance , ,

CFO of Australia’s largest bank joins blockchain company

Rob Jesudason resigned his position as the Chief Financial Officer of the Commonwealth Bank of Australia and will join block.one as president and Chief Operating Officer. Mr Jesudason's departure is the latest in a series of executive resignations as the Commonwealth Bank faces a series of scandals relating to overcharging customers and network breaches that resulted in the loss of over 12 million customer accounts. 
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Exchanges ,

Legal action against Bitcoin.com

A group of over 900 individuals and businesses is pursuing a class action lawsuit against Bitcoin.com. Bitcoin.com is a private enterprise and is often confused as being the official website by newcomers wishing to purchase bitcoin. Whereas www.bitcoin.org was the web URL address registered by Satoshi Nakomoto and promotes the education of bitcoin; the url address bitcoin.com was registered by individuals not endorsed by Satoshi Nakomoto. Bitcoin.com is being sued for fraudulent businesses practices as it is promoting Bitcoin Cash (a bitcoin hardfork) as the original Bitcoin through 'deceptive' marketing. Though the trading symbols were labelled in parynthesis, bitcoin.com wallets…
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Banking & Finance, Editorial, Price , , , ,

Editorial: More Hedge Funds to invest in Bitcoin

Hitting social media this week is news of two influential hedge fund managers investing in Bitcoin. George Soros, whom for most people would not require an introduction, has given the green light for his family fund to trade in Bitcoin and potentially other cryptocurrencies. Mark Yusko, CEO of Morgan Creek Capital has been one of the few wall street analysts that understands the underpinnings of Bitcoin and is very bullish for Bitcoin long term (20 years plus). Yusko, who in early 2017 going against common wisdom was lucratively bearish the US dollar, is launching a $500 million fund to invest…
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