Apple Has Restricted Its Regulations Regarding Cryptocurrencies

apple cryptocurrency

One of the major producers of electronic devices, Apple, has come out with a new set of rules on cryptocurrency, all the activities related to it, like token sales or trading in digital coins, and also cryptocurrency exchanges and wallets.

The restriction of rules have been compiled by the “Developers Union” which is a group of Apple employees that initially intended to change the app trial policy. However, they eventually got their hands on cryptocurrencies.

The new rules include the following:

  • apps may only promote and support digital wallets if their developers are officialy registered as an organization;
  • apps cannot be used for mining unless it is cloud mining;
  • apps may only conduct transaction with trustworty cryptocurrency exchanges;
  • apps may only promote token sales which belong to checked and approved projects, companies or other financial establishments;
  • cryptocurrency cannot be used as a means of rewards in apps.

Since right now the cryptocurrency apps are not significant in number in the App Store, it can be assumed that the rule updates are aimed at future apps.

We would like to remind that Apple has recently made a decision to incorporate the Ripple technology into their systems to improve the payment procedure.

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Cryptocurrency Prices Today, February 15: Cryptocurrencies “Stand Still”

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) remained stable over the past 24 hours. The price at the time of writing is $3604 per coin.

For the most part, cryptocurrencies did not change in price throughout the day:

Bitcoin Cash lost 0.99% over the past 24 hours and costs $121 per coin;

Ripple dropped by 0.03 and costs $0.30;

EOS added 2.3%, and its price is $2.85;

Litecoin grew by 0.18%, and its value is $42;

Cardano gained 0.27%, and its cost is $0.040;

Stellar added 2.66% and costs $0.078;

IOTA grew by 0.87%, and its cost is $0.27;

Dash lost 0.6, and its price is $79;

Monero fell by 0.06% and costs $47.

Over the past 24 hours, Ethereum remained stable. The exchange rate of the coin is $122.

The total market capitalization is $120 billion. Bitcoin accounts for 52.7% of the total volume. In monetary terms, it is $63 billion.

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Japanese Giant GMO Internet Lost ¥1.3 Billion in 2018: Report

One of the biggest Internet companies in the world, Japan-based GMO Internet Inc., posted a report on its financial performance. An operating loss accounts for ¥1.3 billion (~$11.75 million) in 2018.

GMO’s mining business

According to the report, mining business fared very poorly in 2018 which resulted in great losses. The company explained that the business did not increase as expected due to the collapse of cryptocurrency market in Q4. The report provides  the table where we can see the real revenue and real loss of the company. The data provided below does not include “extraordinary losses” of approximately $319.2 million.

Source: GMO Fiscal Report 2018

Alongside, Internet giant announced that it would implement a policy change regarding to their mining business model. The company will sell its bitcoin mining assets at cheaper rates to compensate for a portion of its annual losses.

Moreover, GMO plans to relocate mining centers to the regions where power supply is cheaper. The centers allegedly will be somewhere in Northern Europe.

GMO’s Bitcoin exchange

Source: GMO Fiscal Report 2018

According to the report, the company’s quarter-revenue has fallen by 66.7%, even though the company annually posts about its 7% profit from its crypto exchange GMOCoin.

In 2018, GMOCoin recorded a net sales of ¥4.02 billion (~$36.33 million). In Q1, crypto exchange has lost about ¥76 million, yet, high sales of next quarters compensated them. The fall of cryptocurrency market has also played a significant role in GMO’s revenues. Each phase ended on a lower note than a previous one in terms of sales, while the profits remained marginal.

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Cryptocurrency Prices Today, February 14: Cryptocurrency Did Not Catch The Romantic Atmosphere And Began To Fall In Price

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coingecko online platform, Bitcoin (BTC) lost 0.35% over the past 24 hours after a period of growth. The price at the time of writing is $3607 per coin.

Cryptocurrencies have returned to the red zone:

Bitcoin Cash lost 0.6% over the past 24 hours and costs $121 per coin;

Ripple fell by 1% and costs $0.30;

EOS decreased by 4.1% and its price is $2.78;

Litecoin dropped by 3.2% and its value is $41;

Cardano lost 2.5% and its cost is $0.040;

Stellar fell by 1.1% and costs $0.076;

IOTA decreased by 1.6% and its value is $0.26;

Dash lost 1.9% and its price is $78;

Monero dropped by 2.5% and costs $47.

Over the past 24 hours, Ethereum has lost 0.7%. The rate of the coin is $122.

The total market capitalization fell to $120 billion. Bitcoin accounts for 52.5% of the total. In monetary terms, it is $63 billion.

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The Most Dangerous Crypto Crimes: What About SIM Swappers?

Cyber attack and crypto crimes in every shape and form are quite abundant on the market of digital assets right now. They all have different goals and different levels of harm. The careful and thorough analysis of such attacks will make it possible to predict them and protect sites, platforms and companies from breaches and money losses.

However, there is a weird tendency going on among the analytical reports, which we will try to explain down below.

Two major cyber security companies Chainalysis and CipherTrace released their analytical statements at the end of last year. Both reports contained statistics on hacker attacks and crypto crimes and an outline of current trends.

The main focus of CipherTrace was different money laundering techniques, cryptocurrencies that are the easiest targets for crypto criminals that choose this path, AML regulations and other related info.

Whereas Chainalysis told its readers on the scale and profitability of such Ethereum scams as phishing and various Ponzi schemes.

Surprisingly, there seems to be nothing about the infamous SIM-swapping.

Just to remind you, SIM-swapping is a kind of a cyber attack aimed at money theft. Simply speaking, a hacker convinces the phone provider to “swap” the number of a victim to a new device. In such way, criminals get full access to the personal information of their victims, still their identity, and later money.

SIM-swapping scams have been involved in multiple scandals with the biggest cell-phone providers of America, the crimes involving this technique resulted in huge money thefts and loud arrests of witty hackers, yet very few reports actually mention it.

However, this still does not diminish the dominance of SIM-swapping over many other types of crypto crimes. In order to fight it, we not only need more coverage from the mass media and analytical firms, but also the cooperation from the cell phone companies to protect the users, their info and their money.

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Bitcoin Trading in Venezuela Hit All-Time High: The Possible Future of Bitcoin

According to the report of TrustNode, Bitcoin volumes have surpassed all time high in Venezuela, rising above 2,000 BTC for the first time on peer-to-peer exchange LocalBitcoins.

Bitcoin is the only way to feed family in Venezuela

You may have heard that Venezuela has been experiencing economic crisis as the national currency – the Venezuelan bolivar – has collapsed and become valueless.

The citizens suffer from a lack of basic supplies, including products, medicines, etc. The supermarket shelves are bare. Children are fainting from hunger in their classrooms. The situation changed even worse when the government of Nicolas Maduro blocked U.S. humanitarian aid from coming into the country through the Columbian border.  

The administration of the opposition leader Juan Guaidó remain optimistic, they are convinced that they are able to pass the aid to the people. However, the Venezuelans do not trust anyone anymore, and the only hope left is Bitcoin. People started mining Bitcoin to convert it into dollars to purchase foods and other necessities.

All-time high of the Bitcoin trading

As the 2019 Venezuelan protests caused by presidential crisis are in full swing, people started to trade Bitcoin at full. That is why, the weekly volume of the BTC-to-Venezuelan bolivar (VES) pair increased to 2,454 BTC. It is worth $8.95 million per week and $1.29 million per day.

Bitcoin Future in Venezuela

Tuesday is going to be a big day for Venezuela, according to the Washington Examiner, on Tuesday, February 12, the Venezuelan people plan to demand Maduro’s resignation on the streets all over the country, and try to bring U.S. aid across the Colombian border. Nicolas Maduro has ordered his military to stop them. So the future of Bitcoin depends on who will win.

If Nicolas Maduro remains to be the President of Venezuela, then Petro coins will have more power than Bitcoin. However, if the opposition leader Juan Guaidó overthrows the current government, then Bitcoin will definitely have future in Venezuela as Juan Guaidó gives preference to Bitcoin over Petro.

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Changpeng Zhao: Binance Chain Testnet Will Go Live on February 20

The CEO of Binance, Changpeng Zhao, has recently hold a livestream session on Periscope where he expressed his particular interest in several developments surrounding the exchange and its projects, namely the Binance Chain network. During the session, he stated that Binance Chain is about to be launched, so let us deep into details:

The most important things to know about Binance Chain

Binance Chain will go live on February 20, according to the official tweet posted by Changpeng Zhao.

The chain is built on the Tendermint protocol developed by the Cosmos Network project. Zhao thinks that it is the most suitable architecture for trading platform. Moreover, Binance Chain will be operated on Delegated Proof of Stake, DPoS and Byzantine Fault Tolerant, BFT.

Binance Chain does not have any smart contracts and many other functions irrelevant to their project.

“In the Binance Chain, there is no smart contracts. We just have an interface for you to issue a token then you can trade it. Binance Chain is a very simple chain in terms of application but it can handle very large loads. It is our opinion that the load is more important than features…,” Changpeng Zhao commented.

The platform users will be able to issue tokens based on Binance Chain and launch ICOs to raise funds in BNB tokens.

Increase in BNB Price

Since the beginning of the month, the price of Binance coin has been increasing significantly. According to the CoinMarketCap, the price at the time of writing is $9.41. You may see the upward tendency of the BNB price below.

Source: CoinMarketCap

One of the reasons why BNB coin is doing so well is the launch of Fetch.AI on the Binance Launchpad. It is a project which aims to bring together machine learning, AI and blockchain to create an economic internet. The launch is scheduled for Feb 25th which is 2 weeks away.

Each token that is launched on the Binance platform accepts $BNB by default. That is why it increases demand for Binance Coin which in turn increases the price.

One of the Twitter users @walter_wyckoff posted an interesting information regarding to the correlation between the increase in volume and increase in price for $BNB.

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