More South Korean Banks May Look to Start Crypto Operations

More South Korean conventional finance firms are set to follow Nonghyup (NH Bank) into the cryptoasset industry, say experts, academics, and industry insiders – who think regulators may offer banks safe passage into the crypto sector. As reported earlier this week, NH has announced it will begin crypto custody services for industrial investors, and is currently working

SK Telecom Set to Debut Blokchain-powered Mobile Insurance + More News

This is our daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Blockchain/DLT news South Korean telecoms giant SK Telecom is to launch a blockchain-based paperless mobile phone insurance service, reports IT Biz News. The company says it will work with smartphone maker Samsung on

Ravencoin Exploit Sees Hackers Mint USD 6m Worth of RVN

The team behind the ravencoin (RVN) token have revealed that hackers have exploited a vulnerability in the network that allowed them to mint and then trade almost USD 6 million worth of tokens. Per an official blog post, the team stated that the exploit is still being investigated, but that hackers may have minted a whopping 315 million tokens, 1.5% of its maximum

A Russian Blockchain Referendum Voter Managed to ‘Spoil Their Ballot’

Russian electoral officials are claiming success in the country’s recent referendum on constitutional reform – which saw the country make use of a blockchain-powered voting platform for the first time on a national scale. However, one tech-savvy voter appears to have pulled off a remarkable feat – by spoiling their blockchain-powered ballot paper. As previously reported,

BitPay Adds SegWit, BlockFi Doubles Revenue, 3 News From Cardano + More

This is our daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crypto adoption news Major crypto payments company BitPay added support for SegWit in their wallet as an optional feature, and enhanced integration with Coinbase to enable users to directly manage their Coinbase

Russian Court Denies Theft Victim Access to Stolen Bitcoin

A Russian court has denied a claimant the right to reclaim almos BTC 100 (USD 920,000), stating that crypto has no legal value – meaning courts are powerless to enforce property rights. Per a Telegram post from the district court’s press office, in Russia’s second-largest city, St. Petersburg, a judge ruled that bitcoins and other tokens that make use of cryptographic and

Confusion Reigns in China as RenrenBit CEO Reportedly Detained by Police

Chinese media outlets are reporting that Zhao Dong, the head of over-the-counter (OTC) and crypto lending platform RenrenBit and a prominent Bitfinex investor has been taken in for questioning by police. Per reports from media outlet BlockBeats and Chainnews, “rumors” are circulating in online communities about Zhao Dong, with many people claiming he has been taken

South Korean Giant to Begin Crypto Custody for Institutional Investors

One of South Korea’s biggest commercial banks, NongHyup (NH Bank) said it is working on a cryptoasset custodial services platform for institutional investors. Per ET News, the bank said that it wants to launch crypto “ecosystem” operations, and also spoke of its long-term plans which include offering custodial services to the South Korean central bank, the Bank

Manga Book Promises to Teach Readers about Basics of Blockchain

The link between blockchain, crypto and manga continues to deepen in Japan – where a software company has published a new book explaining all the intricacies of blockchain, cryptocurrencies and distributed ledger technology using the power of manga. Entitled “Blockchain through Manga” (rough translation), the book is the brainchild of software and computer network systems

Samsung to Launch App that Reports ‘Lost or Stolen’ Crypto + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crypto adoption news Samsung and South Korean software firm Uppsala are set to launch a crypto losses tracking system for the Samsung Blockchain Wallet – a feature on a number of flagship Galaxy

Ripple Partner SBI Gains UK Foothold after Agreeing USD 30m B2C2 Deal

Japanese financial giant SBI Holdings has agreed a deal to buy a USD 30 million minority stake in Britain-based crypto player B2C2. The latter also says it will “launch a full prime brokerage for both crypto and other asset classes,” per its founder. According to Reuters, SBI has agreed to the deal in principle, and SBI’s SBI Financial Services subsidiary will enter

Russian Traders Gear up for ‘Head Spinning’ Crypto Tax Season

The Federal Taxation Service. Russian crypto owners have been warned that they have just a month before the taxman comes calling – with miners, custodians and traders all required to declare their profits. Although the country is likely still “a year or more” away from comprehensive crypto laws, the tax code has been changed in time for this year’s tax season

‘Real’ Bitcoin Free Float Supply Figures May Be off by 22% – Report

Conventional market caps and supply estimates may be inaccurate in that they do not give a “real” picture of the amount of bitcoin (BTC) and major altcoins that are currently in circulation, according to a new report. Crypto financial data provider Coin Metrics has developed a methodology for calculating these figures, which it calls the “free float supply”

Beijing to Set up Blockchain Fund and Foster ’Unicorn’ Firms

The city government of Beijing and the surrounding area has announced a new two-year plan to foster the Chinese capital’s blockchain industry. Per an official announcement from the People’s Government of Beijing Municipality, the capital’s plan involves setting up blockchain technology talent training authority, and establishing a city-run fund that will invest in

Another Million People Tried Crypto in the UK + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. (Updated at 17:26 UTC: updates in bold.) Crypto adoption news 3.86%, or 1.9 million, of the general population in the UK currently hold cryptocurrencies, the Financial Conduct Authority (FCA) estimated,

South Korea Vows to Pump USD 111m into Blockchain R&D over Five Years

South Korea has pledged to inject USD 111 million into the development of blockchain technology, with central government-sponsored research flowing until at least 2025. The move is the brainchild of the nation’s Ministry of Science and ICT, which has worked jointly on the initiative with the Institute for Information and Communications Technology Promotion – an agency

South Korea OKs Blockchain Certificate Use in Public, Private Sectors

The South Korean government will allow the use of blockchain-powered public certificates beginning in December this year. Per Hanguk Ilbo and UPI News, Seoul says that it will make amendments to the nation’s existing Electronic Signatures Law that will allow for citizens and companies to make use of blockchain-powered certificates – allowing businesses to use these

Russian Blockchain-powered Voting Platform ‘Withstands Node Attack’

The operators of Russia’s blockchain voting system say their platform successfully repelled a hacking attack in the nation’s referendum on constitutional reform. Blockchain voting is being piloted in the cities of Moscow and Nizhniy Novgorod, and began on June 25. Citizens in both cities were required to pre-register their interest in casting blockchain votes, with a

Bitcoin Miner Ebang Mulls Crypto Exchange, BTC Refunds + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news Chinese crypto mining company Ebang International Holdings Inc. is planning to launch an offshore exchange for digital assets in 2020, reports Bloomberg. The company wants to expand

Mining, Steel Giants Complete USD14m Blockchain-powered Iron Ore Trade

One of the world’s largest mining companies, BHP Group, says it has completed a USD 14 million blockchain-powered iron ore transaction with China’s Baosteel – one of the largest steelmaking firms on the planet. The move follows on from last month’s trade between the two companies that saw BHP conduct its first-ever yuan iron sale to Baosteel. Baosteel is part

Colombian Regulators Urged To Ditch ‘Obsolete’ Draft Crypto Law + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Regulation news Colombian regulators have been urged to start drawing up the country’s crypto legislation again from scratch, reports Criptonoticias. The media outlet writes that a consultancy group

Hyundai ‘May Look to Rival Kakao’ with New Cryptocurrency Move

South Korea could be about to see its most affluent player yet enter the crypto fray – with business group Hyundai reportedly on the verge of releasing a range of cryptocurrency-related services. The company, most famous internationally for its carmaking, shipbuilding, construction and shipping arms, has been channeling its blockchain and crypto efforts through its

Blockchain Game Firm Releases Samsung Phone Featuring a Crypto Wallet

Source: H_Ko Samsung has released three special-edition Galaxy smartphones in conjunction with WeMade Tree, the blockchain arm of South Korean gaming giant WeMade. The devices are customized versions of the Samsung Galaxy S20, S20+ and S20 Ultra, but come pre-loaded with WeMade Tree’s Wemix cryptocurrency wallet. According to a sales platform created for the phones, the most expensive of the

Telegram Chief Durov Says He Has Already Repaid Investors USD 1.2 Bn

Telegram boss Pavel Durov says he has paid back some USD 1.2 billion to investors in the now-abandoned Telegram Open Network (TON) blockchain platform after an out-of-court settlement with the United States regulatory body the Securities and Exchanges Commission (SEC). Investors had stumped up a total of USD 1.7 billion ahead on an initial coin offering (ICO) for a token

Telegram Users’ Data on Dark Web, Arrest for Buying Bitcoin + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crime news A Russian website alleges that data on an undisclosed number of Russian and Iranian Telegram users is circulating on the dark web. Per Kod.ru, dark web sites are offering a download of a

Binance Teams up with Payments Firm to Allow ‘Low-fee’ Crypto Buying

Estonia-based payment solutions provider Mercuryo says it has struck a partnership deal with Binance that will allow exchange customers to buy crypto with fiat. The latter claims that the move will allow customers to pay lower transaction fees for token purchases made using fiat. In a release shared with Cryptonews.com, the company wrote that “the vast customer base of

Ripple Chief: US Risks ‘Chaos’ by Letting China Win Blockchain Race

Ripple executive chairman and co-founder Chris Larsen has warned Washington to “get a lot more involved in blockchain,” stating that the United States is “slow to the game” – and is allowing China to pull ahead in the race to digitize finance. In a video conversation with Wall Street Journal reporter Paul Vigna – shared on the Ripple's YouTube page

USDC Ends Ethereum Exclusivity, Begins Algorand Partnership

Source: Adobe/Sashkin (edited by Cryptonews) The operator of stablecoin USD coin (USDC) is to end its exclusive relationship with the Ethereum blockchain network and will move to Algorand, with expansion onto other blockchain networks to follow. USDC is run by Centre, a joint project that comprises Coinbase and Circle. Centre issued a blog post on June 24, stating that it was to end its Ethereum