Japanese Internet Giant Launches Its Own Yen-Pegged Stablecoin

One of the biggest internet giant of Japan, GMO Internet, announced launching of a new stablecoin that would be attached to yen, according to the official website. The name of such stablecoin is GMO Japanese Yen (GJY), this coin will be issued in Asia next year.

Japanese internet giant has already created 57 stablecoins, 23 of which are in circulation.The new one pegged by yen will become a tool in helping tech companies to settle transactions for their business. This also includes crypto mining farms.  

Even though internet giant possess a pile of stablecoins, Tether remains to be a global one. Furthermore, Circle, startup backed by Goldman Sachs, also announced plans of launching USD Coin, a stablecoin backed up by the US dollar.

We remind you

Japanese Internet Giant Launches A New Crypto Platform

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The SEC Creates a Special Department to Keep an Eye Open for ICOs

The US Securities and Exchange Commission came out with a press release announcing the opening of the FinHub, a brand-new subdivision of the agency.

The main tasks of the Hub will be:

  • giving a chance to the general public to communicate with the SEC regarding fintech questions;
  • spreading information related to fintech;
  • announcing all the major events in the sphere of fintech
  • publishing all new fintech regulations and decisions of the SEC
  • serving as a linking point of various internal and external financial regulators;
  • etc

As said by the head of the newly emerged department:

By launching FinHub, we hope to provide a clear path for entrepreneurs, developers, and their advisers to engage with SEC staff, seek input, and test ideas.”

Since ICO is a major fintech activity, it will also be under the strict control of FinHub.

We remind you:

SEC’s ETF Decisions Will Come Out In October

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A New York Resident Carried Out a $2.5 Million Bitcoin Scam

A man named Nicholas Gelfman was accused of violation of multiple financial regulations. Now the man has to pay a fine in the amount of 2.5 million dollars in order to cover up all the losses caused by him.

Gelfman was running a company Gelfman Blueprint, Inc. (GBI) which offered its investors quick, safe and profitable crypto trading services.

Obviously, the whole thing turned out to be a huge scam. The victims ended up paying big amount of money in commission fees and getting no profit from trading whatsoever.

The case is currently under the US Commodity Futures Trading Commission’s investigation.

We remind you:

The Loudest and Boldest Crypto Crimes of All Times

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John McAfee Will Shine the Light on Crypto

A crypto personality John McAfee took quite a serious position regarding his presidential campaign in 2020. He shared a couple of interesting details with his future electors

McAfee claimed that the main focus of his campaign is going to be blockchain, its implementation in various sphrese and raising awareness about this technology as well as cryptocurrencies among the people.

If we accept the Blockchain as our guiding light, our hearts and our minds can be free,” he added in a rather poetic way.

We remind you that McAfee does not actually want to become the President of the US, he just wants to run for the post. Here is why:

Why Is John McAfee Not Planning to Be the President?

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Monero Forked Successfully: Details of Upgrading

Hardly had the vulnerability been detected, when Monero forked victoriously. This happened yesterday, on October 18, without any big problem in the network at all. “Monero 0.13.0 “Beryllium Bullet” is the name of the release, which implemented bulletproofs inside the network’s protocol.

https://twitter.com/monero/status/1052939409392365568

The main advantage of bulletproofs is that users obtain more privacy hiding the amount of assets they send in transactions. But how to verify them? A special logarithmic math was implemented. Though, this feature is only available for huge-cap networks.

In addition, the protocol brought cheaper fees and faster transactions. To sum up, this upgrade enables Monero to remain best privacy coin.

We remind you

Binance Has Had a Number of Major Upgrades

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Cryptocurrency Prices Today, October 19: Cryptocurrencies Fell into the Red Zone

crypto prices

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

According to the Coin360 online platform, Bitcoin (BTC) lost 1.44% over the past 24 hours. The price at the time of writing is $6448 per coin.

Cryptocurrencies are falling in price again:

Bitcoin Cash lost 3.53% over the past 24 hours and costs $434 per coin;

Ripple fell by 1.52% and is $0.46 in price;

EOS dropped by 2.10%, and its price is $5.30;

Litecoin decreased by 2.15%, and its rate is $52;

Cardano lost 3.32%, and its value is $0.074;

Stellar dropped by 3.34% and costs $0.23;

IOTA lost 3.53%, and its cost is $0.49;

Dash fell by 3.97%, and its price is $153;

Monero became cheaper by 2.41% and costs $103.

Over the past day Ethereum lost 2.37%. The cost of the coin is $202.

The total market capitalization is $207 billion. Bitcoin accounts for 54% of the total. In monetary terms, it is $112 billion.

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The U.S.-China Trading War Influences Cryptocurrency World, Bitmain Suffers Most

Not long ago, we discussed that Bitcoin was in danger, since Chinese authority was able to attack it any time. The US decided to keep up with opponents and stroke the crypto world of China, namely crypto asset industry.

These two countries are currently in a state of trading conflict, introducing tariffs on goods traded with each other. In June the USA changed the classification of ASIC miner, called Antminer S9, in a way that Chinese miners can be at a loss. That month the “electrical machinery apparatus”, the given category to the ASICs, had a 2.6% tariff.

Later in August, the tariff raised by 25 per cent. At the moment, Chinese mining producers deal with the fee of 27.6 per cent on their US shipments.This action has a colossal impact on Bitmain, the company based in Beijing and being the biggest Chinese mining hardware maker.

Bitmain tried to cope with the pressure by filing for a Hong Kong IPO. It could reportedly rise $3 billion. The company’s filing also mentioned the fact that about 62.8% revenue came from overseas in first half of 2018, though there was no comment on how many sales had come from the US.

The crisis came to Bitmain at a very bad time. IPO filing showed the company’s turnover dropped in second quarter of 2018 drastically, losing about $400 million in compare to $1.1 billion net profit in the first quarter.

One of the analysts, Mark Li, reckons the US tariffs aim at making Chinese hardware less competitive than opponent ones produced in other countries. He also added that Bitmain’s boardship is more aware of technology arms race, where the company is falling behind

The cold trading war between China and States can last for a long time, yet no one is sure how much loss or profit it can bring, we are only able to watch and wait. Now we want to remind you

Mining Complexity: What It Is and Where It Will Get

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