Poloniex Reimburses Lenders Affected by Crash

Cryptocurrency exchange Poloniex is moving forward with compensation for lenders who lost funds in a May 2019 “flash crash.” The crash of digital token CLAM, which fell by almost 80 percent within an hour, triggered the failure of safety measures in Poloniex’s automated liquidation system and wiped 1,800 BTC (about $13 million at the time)…

Bitcoin Is Now a Legal Form of Payment in New Zealand

In the August 2019 issue of New Zealand’s Tax Information Bulletin (published by the Inland Revenue Department), a new public ruling integrates “crypto-assets” as legal and taxable forms of payment. Correspondingly, New Zealand becomes one of the first nation states to create a proper framework for employees to receive cryptocurrency as part of their wages.…

Abu Dhabi Fund Invests in Crypto Exchange

Mubadala Investment Company, a sovereign wealth fund based out of Abu Dhabi, has made a foray into cryptocurrency by investing in the forthcoming exchange MidChains, according to the UAE English newspaper Gulf News. The investment is reportedly worth seven figures. Mubadala is the world’s 13th largest sovereign wealth fund by total assets. The investment in…

Barclays Ends Banking Relationship With Coinbase

Barclays Bank, one of the largest banking institutions in the world, will no longer be providing banking services to Coinbase UK. CoinDesk first reported the details of the split, adding that the exchange has signed up with a replacement banking partner known as ClearBank. Coinbase started banking with Barclays in 2018, in a deal which…