Luxembourg Passes Blockchain Framework Bill Into Law

Luxembourg lawmakers have passed bill 7363 into law, facilitating the use of blockchain technology in financial services, according to an official announcement published by the country’s parliament, the Chamber of Deputies, on Feb. 14. The new law aims provide financial market participants with more transparency and legal certainty in regard to the circulation of securities with blockchain technology. The bill is also geared to make the transfer of securities more efficient by reducing the number of intermediaries. According to local news outlet Luxembourg Time, the bill grants transactions done with…

Chainalysis Raises $30 Million in Series B Funding From Accel Ventures

Blockchain analysis firm Chainalysis has completed a $30 million Series B round led by American VC firm Accel and Benchmark, who led the startup’s Series A funding in April 2018. Accel partner Philippe Botteri will also join the firm’s board of directors. The fund injection will be used to expand the startup’s operations including its Chainalysis Know-Your-Transaction (KYT) tool which allows more than 100 crypto exchanges and financial institutions to vet their clients. The analytics firm known for investigating the Mt. Gox case will open a new office in London,…

Freelancers on Traditional Platforms Will Now Invoice in Bitcoin Via Bitwage

In the current freelancing industry, many platforms only allow independent contractors to use one bank account. In addition to restricting freelancers to the use of fiat only, this can also cause significant lag times when employees work with companies overseas. To try and solve these user problems, payroll and invoicing company Bitwage is introducing a freelance marketplace, allowing people to create multiple bank accounts to more smoothly process payments for freelancing and to accept crypto assets. The new platform is currently in beta. “Bitwage can generate bank accounts for users…

Report: Crypto Exchanges Saw Trading Volumes Plummet in January

The crypto winter that started toward the end of last year doesn’t appear to be showing signs of slowing down. Digital assets like bitcoin lost more than 80 percent of their value while the overall crypto market cap shrunk from over $600 billion in January 2018 to less than $138 billion in December 2018. Now, blockchain and cryptocurrency research firm Diar has released a report that reveals a sizeable drop in crypto trade volumes in January 2019 for popular crypto exchanges Binance, Gemini, OKEx and Coinbase. Popular Exchanges Affected The…

QuadrigaCX Sent Deposits Allegedly Linked to CEO’s Widow, Mailed…

For those QuadrigaCX users who were fortunate enough to have withdrawal requests honored, some appear to have received their funds through unconventional means. An anonymous QuadrigaCX user who corresponded with Bitcoin Magazine said that they received a bank deposit from Robertson Nova Consulting Inc. (RNC), a corporation with no listed registration in Canadian public records, on March 8, 2017. Bitcoin Magazine also reviewed a financial inquiry into the individual’s bank account deposit history to confirm that the amounts deposited on the bank statement matched the emails. The reply-to line of…

NASDAQ to Add Liquid Indices Tracking Value of BTC and ETH

NASDAQ is planning to add new, third-party liquid indices, specifically tied to the value of bitcoin and ether. Details were released on affiliate site nasdaqtrader.com, a domain name owned by The Nasdaq, Inc. The site claims that the two indices “are each designed to provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD.” To determine the most accurate possible value for these indices, the relative value of the BTC index “has been calculated back to 2010” and ETH to…

Fairfax County Pension Funds Invested $21 Million in Blockchain Technology

Fairfax county of the United States state of Virginia, has invested $21 million in Morgan Creek Blockchain Opportunities Fund, according to an official note published on Feb. 13. Jeff Weiler, Executive Director at Fairfax County Retirement Systems, clarified the terms of recent investments in Morgan Creek Digital that reportedly amounted to $40 million. The statement’s aim was to qualm pensioner concern over the recent investment, as some were worried that their pensions could be lost due to volatility in cryptocurrency markets. In this context, Weiler explained that the county has…

Judge Delays Decision On Legal Representation for Quadriga Creditors

A Canadian judge declined to name any law firms to represent as many as 115,000 users of QuadrigaCX, deferring that significant decision by a week. Nova Scotia Supreme Court Judge Michael Wood said during a hearing Thursday that he would not appoint any firms as representative counsel or make any other decisions regarding creditor representation immediately, though he plans to have a final decision within the week. Wood did, however, shoot down a proposal which would have delayed the process even further. As CoinDesk previously reported, three legal teams have…

Messenger Giant Kakao Spent $57 Mln on New Tech, Including Blockchain, in Q4 2018

South Korean internet giant and messaging app operator Kakao Corp has published its Q4 2018 report that covers blockchain and AI operating expenses, Korean news website ZDNet reports Thursday, Feb. 14. According to ZDNet, in Q4 2018 Kakao’s consolidated operating income was 4.3 billion Korean won ($3.8 million). At the same time, the company’s operating expenses related to new businesses, such as blockchain and AI, was 65 billion won ($57.5 million), which reportedly led to a net loss for the whole period. As cited by local media News1 Korea, executive…