Libra in Congress: A Chance to Define What Bitcoin Is and What Libra Isn’t

Facebook finished up its second round of Congressional hearings yesterday, marking the end of the beginning for what some U.S. Congressional members consider the social media platform’s ill-advised venture into the monetary realm. The House of Representatives Financial Services Committee hearing, following in the footsteps of the Senate Banking Committee’s own earlier this week, went…

Official Calls Iran a ‘Heaven for Miners’

Mohammad Javad Azari Jahromi, the Iranian minister for information and communications technology, called the nation a “heaven for miners,” according to AP News. He said that Iranians have turned to crypto mining as a countermeasure against looming hyperinflation and economic collapse following economic sanctions from Washington, D.C. However, he also noted that, while Bitcoin mining…

Can Graphite Replace Google Drive and Google Docs?

Big Brother, in its governmental and corporate forms, has been watching us for many years. One of its most aggressive ongoing forms started with the USA PATRIOT Act of October 2001, which laid the foundation for an unprecedented mass surveillance apparatus which extends beyond American borders. Meanwhile, companies like Google and Facebook have built multi-billion…

Bitcoin Deemed ‘Virtual Property’ By Chinese Court

The Hangzhou Internet Court, litigating a lawsuit dating to 2013 between a cryptocurrency exchange and one of its clients, ruled this week that bitcoin is considered legal property under Chinese law. While the court ruled that the client’s lawsuit against the cryptocurrency exchange was insufficient, the court deemed bitcoin to be property under the specifics…

France Will Soon Adopt New Crypto Regulations

Autorite des Marches Financiers (AMF), France’s financial watchdog, will approve the first group of cryptocurrency firms under a new set of digital currency regulations to be adopted later in July 2019. In order to gain approval from the regulator, crypto firms must act in accordance with capital requirements and consumer protection standards, as well as…

Cartoon: Trillema

One of the key challenges in blockchain projects is dealing with the “trilemma” challenge: how to develop technology that is scalable, decentralized and secure, without any element being diminished. For example, Bitcoin is both decentralized and secure, but critics have historically argued that it is not scalable. Luckily, Layer Two solutions are currently working to…

New York Grants BitLicense to Two Seed CX Subsidiaries

The New York State Department of Financial Services (DFS) awarded two subsidiaries of Seed CX, a Chicago-based cryptocurrency exchange, with virtual currency licenses. In a press release, DFS superintendent Linda Lacewell announced the approval of virtual currency license applications from Seed Digital Commodities Market LLC (SCXM) and Zero Hash LLC. Zero Hash has also been…