#Blockchain Bitcoin Trades for a Premium in Hong Kong During Protests

Bitcoin Trades for a Premium in Hong Kong During Protests

Right now, thousands of citizens from Hong Kong are protesting certain leaders and opposing a proposed extradition law. Alongside the protests, the country’s political issues are reportedly pushing wealthy Hong Kong residents to move their capital offshore. Since last week, the price of bitcoin core (BTC) has gained a premium in Hong Kong as the digital asset has been trading between $75-150 higher than the global average.

Also Read: How to Exchange Your Amazon Gift Cards for Bitcoin Cash

Political and Economic Unrest in Hong Kong Spurs Capital Movement Offshore

Tens of thousands of Hong Kong protestors have filled the streets of downtown Victoria Park and started marching toward government buildings on Sunday, June 16. The crowds of people dressed in black have been chanting things like “resign” and “withdraw” due to their hatred for the proposed extradition law. The ruling would basically allow Chinese authorities to come in and extradite any Hong Kong citizen to mainland China if they are accused of a crime. It all started in 1997 after Beijing took over and promised to keep Hong Kong’s government intact under “one country, two systems.” Before 1997, Hong Kong was a British dependent territory but the sovereignty over Hong Kong was transferred to China. Everything was fine up until 2014 when pro-democracy protests called the Umbrella Movement stirred the Chinese government and things have never been the same since.

Bitcoin Trades for a Premium in Hong Kong During Protests
Sunday’s protest in Hong Kong was one of the largest turnouts so far.

Crypto proponents believe the current political strife will push more people toward decentralized assets. The protesters demand that Chief Executive Carrie Lam resigns and withdraw her plans to initiate the extradition law. “Our demands are simple. Carrie Lam must leave office, the extradition law must be withdrawn and the police must apologize for using extreme violence against their own people,” John Chow a Hong Kong-based banker, told press on Sunday. Additionally, a few days ago, Reuters reported that wealthy Hong Kong residents have started moving funds offshore to escape possible economic turmoil.

“Some Hong Kong tycoons have started moving personal wealth offshore as concern deepens over a local government plan to allow extraditions of suspects to face trial in China for the first time, according to financial advisers, bankers and lawyers familiar with such transactions,” Reuters explained on June 14. One specific tycoon who wished to be unnamed revealed that the capital outflow has “started,” adding:

We’re hearing others are doing it, too, but no-one is going to go on parade that they are leaving — The fear is that the bar is coming right down on Beijing’s ability to get your assets in Hong Kong. Singapore is the favored destination.

Bitcoin Trades for a Premium in Hong Kong During Protests
The reason Hong Kong tycoons are moving money is because if the bill becomes law, Chinese courts can request Hong Kong courts to freeze and confiscate assets related to crimes committed in mainland China.

The BTC/HKD Premium

In addition to the wealthy individuals moving capital, crypto enthusiasts have noticed a premium on BTC growing larger in Hong Kong. For instance, over the last few days on the cryptocurrency exchange Tidebit, the price of BTC has been $75-150 higher than the global average. At the time of writing, 1 BTC is currently 73,100 HKD or US$9,337 in Hong Kong which is more than $100 higher than the Bitstamp price at $9,230. Speculators believe the unrest in Hong Kong has sparked some flow into bitcoin so people can hedge against uncertainty. Other exchanges such as Bitpoint and Liquid show similar BTC/HKD premiums as well.

Bitcoin Trades for a Premium in Hong Kong During Protests
Local.Bitcoin.com buyers in Hong Kong looking for bitcoin cash (BCH).

There’s also been some demand in Hong Kong for bitcoin cash (BCH) on Local.Bitcoin.com as there are buyers looking to purchase BCH in person for cash and alternative payment methods as well. On the data aggregation website Coin Dance, BTC/HKD volumes have been rising week after week on Paxful as well. It’s difficult to say how the Hong Kong government will handle the large protests and whether more money will flow into the crypto economy. As of right now, Hong Kong is not China and they are still two very distinct systems but many citizens fear that some day that will change.

What do you think about the recent political and economic climate in Hong Kong? Do you think the unrest will push more people into seeking out cryptocurrencies? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Pixabay, Getty, Merlin, and Twitter.


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#Blockchain Crypto Cards Expand and a Futuristic Promotion in the Weekly Update From Bitcoin.com

Crypto debit cards supporting bitcoin cash expand their international reach and a platform offers shopping at Walmart using BCH. Watch these and other developments discussed in this week’s video update on Bitcoin.com’s Youtube channel, and get a chance to take part in a futuristic promotion.

Also Read: What Makes Slovenia a Cryptocurrency Adoption Leader – Bitcoin.com Mini-Documentary

Futuristic Promotion in the Weekly Video Update

This week’s show features a number of technological and businesses developments that make bitcoin cash payments more accessible around the world. These include Coinbase expanding its Visa debit card service to six new European markets, allowing its users from these countries to spend BCH from their accounts to pay in millions of locations where Visa is accepted, as well as to make fiat cash withdrawals from ATMs.

The show also provides an update on Local.Bitcoin.com, the privacy-focused peer to peer global marketplace for trading bitcoin cash (BCH) which was officially launched on June 4. Over 14,000 people have already signed up to the service and created thousands of active orders. Additional topics cover Coinex exchange listing the SLP token honestcoin (USDH), a stablecoin issued on the Bitcoin Cash network backed 1-to-1 for USD, Cointext integration into Electron Cash allowing users to send BCH to any phone with SMS messaging capabilities, and the Alagoria platform which lets you buy items sold by Home Depot and Walmart using BCH and get a 10% discount.

The weekly update also features a promo code to the Blockchain Futurist Conference 2019, taking place August 12-14 in Toronto, Canada. Starting this Monday, you can save 50% off the price of tickets when paying with bitcoin cash and using the code shown in the video. Bitcoin.com will take part in this event as a sponsor, with a special video presentation from Roger Ver.

Make sure to subscribe to the Bitcoin.com Youtube channel and leave a comment on the latest video.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

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#Blockchain VPN Providers Defy Order to Connect to Russia’s Internet Censor

VPN Providers Defy Order to Connect to Russia’s Internet Sensor

Russian regulators have once again moved to expand oversight of the online space in an attempt to ensure compliance with various restrictions Moscow is trying to impose. But as in other cases, their efforts have been met with resistance. Over a dozen VPN platforms, popular among crypto enthusiasts and other privacy-conscious users, have refused to join the state-run system for blocking banned websites. Some of them have already announced they are moving abroad. The game of cat and mouse continues, with Roskomnadzor vowing to block nine of the refusers within a month.

Also read: Russian Prosecutors Fail to Block Crypto Website

VPN Services Move Out of Country

In March this year, the Federal Service for Supervision of Communications, Information Technology, and Mass Media, Roskomnadzor, demanded from 10 VPN service providers to connect to the Federal State Information System (FSIS). The register keeps information about websites, the access to which has been restricted after they were blacklisted by Russian authorities. Roskomnadzor wants to confirm the VPN services do not allow their subscribers to access these sites.

The telecom watchdog sent out notices to Tor Guard, Vypr VPN, Open VPN, Nord VPN, VPN Unlimited, IP Vanish, Hide My Ass!, Hola VPN, Express VPN, and Kaspersky Secure Connection. Seven companies have refused to collaborate, including four that have moved their servers out of the country, and another two have not responded at all. Six more platforms, which have not been notified by the agency, also indicated they won’t connect to the FSIS. So far, only Kaspersky has agreed to cooperate.

VPN Providers Defy Order to Connect to Russia’s Internet Censor
Roskomnadzor

Alexander Zharov, head of Roskomnadzor, stated last week that nine VPN platforms which have not fulfilled the watchdog’s requirements, may be blocked within a month for not complying with the law that prohibits the provision of services facilitating the bypassing of government restrictions. “It seems Roskomnadzor has recently compiled a second list of VPNs and asked them to filter traffic,” Sarkis Darbinyan, lead legal expert at Roskomsvoboda, a Russian NGO fighting internet censorship, told news.Bitcoin.com.

Darbinyan also shared that another provider, Avast Secureline VPN, has just announced it’s withdrawing from the country in connection with Roskomnadzor’s actions. The company believes compliance with such requirements would violate its own principles and the right to freedom of the Internet. And because it won’t be in a position to bring any benefit to its Russian users, Avast informed them they will not be able to renew their subscriptions in the future.

The Battle for the Runet

A database maintained by Roskomsvoboda contains over 173,000 websites, forums, messengers, news outlets and other online platforms that have been banned at some point. The restrictions have been mandated by various state institutions including several government agencies, ministries and the Prosecutor’s Office. Many of them are still offline but some, like the crypto exchange aggregator Bestchange.ru, have been taken out of the blacklist.

VPN Providers Defy Order to Connect to Russia’s Internet Censor

Another encouraging example comes from the case with the blocking of a VPN service provider called Hidemy.name. The platform was taken offline by a ruling of a regional court in the Russian Mari El Republic in 2017. The owner of the website sought help from Roskomsvoboda and in May of this year, the organization’s legal team managed to successfully challenge the court’s decision.

Sarkis Darbinyan noted that Russian judicial authorities did not dig deep enough into how VPN technologies work and the lawyers were able to identify many procedural violations. This led to the cancellation of the original ruling and the unblocking of Hidemy.name by Roskomnadzor. However, “this battle is not over yet, so we will continue to fight for the rights of Russian users to VPNs and to protect companies that provide such secure and safe services,” Darbinyan commented.

VPN Providers Defy Order to Connect to Russia’s Internet Censor
Hidemy.name

According to amendments made to the Federal Law “On Information, Information Technologies and Information Protection” in late 2017, VPN providers and anonymizers are expected to register with Roskomnadzor and connect to the FSIS within 30 working days. One of their key obligations is to limit access to internet resources that are banned in the Russian Federation.

The same applies to search engines and the Russian internet companies Yandex, Sputnik, Mail.ru, and Rambler have already complied. Earlier this year, Google was sanctioned for failing to meet this requirement. Roskomnadzor now claims the internet giant has already paid the 500,000 ruble (approximately $8,000) fine imposed by a Russian court and is now filtering searches in accordance with the FSIS rules.

Roskomnadzor’s Next Move

If Russian regulators find that the law has been breached, they may adopt a decision to restrict access to the VPN providers who have violated its provisions. Roskomnadzor is now expected to take measures aimed at blocking the VPN services which have refused to comply with its requirements as well as those that have not replied to its notices. It remains unclear, however, what the watchdog’s next step will be.

Various approaches have been employed in the past regarding other non-compliant companies. For example, it took the watchdog almost a year to act against Telegram, the messenger founded by the Russian-born entrepreneur Pavel Durov, which enjoys great popularity in the crypto community. Other messaging platforms such as Blackberry, Imo and Line were banned much faster.

VPN Providers Defy Order to Connect to Russia’s Internet Censor

“It does not look like Roskomnadzor and Russian ISPs [Internet service providers] are really technically ready to block VPNs. For sure, they can block websites where users can download apps. That’s the easiest thing to do. But they absolutely cannot make Apple and Google remove a mobile app. Of course, the most difficult thing for them would be to actually block an application and break connectivity with the servers of these operators. And they understand it,” said Darbinyan. The activist added that this will become a huge problem for Russian regulators after the epic failure to block Telegram.

Government agencies are now trying to improve their blocking capabilities. “The Main Radio Frequency Center, an entity subordinated to Roskomnadzor, requested in March the development of an automated blocking system. It should be available by December 2019. The system will monitor how search engines, VPN services, proxy servers and anonymizers comply with the requirements of Federal Law № 276-ФЗ [the one that affects VPNs]. Maybe after supplying learning DPI [Deep Packet Inspection] tools to all ISPs to recognize VPN traffic by patterns, they will be more effective,” Roskomsvoboda’s representative pointed out. “It looks like it is going to be a long game of cat and mouse,” Sarkis Darbinyan said and elaborated:

Let me remind that most of the VPN services that have received notifications from Roskomnadzor already have a fairly rich experience in working in China and bypassing the Great Firewall. So they can easily adapt to work in Russia in these new circumstances.

The implementation of advanced technical means to control the Russian online space is part of package of measures introduced with the new “Digital Economy National Program” legislation, also known as the Runet law. It was adopted in April by the State Duma, the lower house of Russia’s parliament, and according to its sponsors, its goal is to protect the Russian segment of the Internet from external threats turning it into a “sovereign” space. Critics say it will not only limit internet freedom but also affect negatively many businesses that rely on the World Wide Web, including crypto platforms.

As news.Bitcoin.com reported, some of the law’s key provisions include the building of a system that will channel Russian internet traffic through government-controlled routing points as well as granting unlimited powers to Roskomnadzor – the agency will be able to cut off non-complying internet providers at will. It’s been estimated that the system will draw more than 30 billion rubles (almost $500 million) from the state budget, an amount that has raised some eyebrows. But, financial costs and security concerns aside, the question many Russians are asking themselves is if the Runet will after all remain ‘Internet’.

Are you using a VPN service? What’s your opinion about Moscow’s requirements toward VPN providers? Share your thoughts on the subject in the comments section below.


Images courtesy of Shutterstock.


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#Blockchain What Makes Slovenia a Cryptocurrency Adoption Leader – Bitcoin.com Mini-Documentary

Slovenia has a population of just 2 million but contains more retail locations accepting bitcoin cash payments than the entire United States. What makes this small country such a cryptocurrency adoption leader? Watch the following video to find out.

Also Read: How to Exchange Your Amazon Gift Cards for Bitcoin Cash

Slovenia: The Crypto Country

A short new documentary on Bitcoin.com’s Youtube channel highlights the thriving cryptocurrency ecosystem in Slovenia. The video features some of the places where you can pay with bitcoin cash (BCH), different Slovenian startups developing technologies for the market, as well as Roger Ver going shopping to test out the country’s now famous crypto-friendly locales.

One of the major factors in making Slovenia an international cryptocurrency adoption hub is its welcoming regulatory attitude. The documentary shows that not only is the possession of digital assets legal in Slovenia, but capital income from trading cryptocurrency is not subject to income tax for individuals.

In addition, the country’s political leadership is open and receptive to innovation, as shown in the video by the former Prime Minister Miro Cerar. All this makes the country particularly attractive to entrepreneurs in the growing digital asset industry.

Solving the Enigma

According to the documentary, the single biggest reason hundreds of Slovenian retail locations have begun accepting cryptocurrency payments is Eligma. This is the startup that developed Elipay, a transaction processing system that enables in-shop mobile purchases with BCH, BTC, ETH and its own ELI token.

The prime example of this comes from a giant shopping center called BTC City, in the Slovenian capital of Ljubljana, where many of the stores now accept cryptocurrency payments through the Elipay system. It shows that there is a growing trend for actual usage in Slovenia, as the number of Elipay wallet users already exceeds 15,000. The video also mentions that the Elipay system now accepts payments from the Bitcoin.com Wallet app, allowing the owners of the more than 4 million user-generated wallets to make in-store purchases in supporting locations.

What do you think about Slovenia being such a cryptocurrency adoption leader? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

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#Blockchain Accept Direct Crypto Payments Using the Rocketr Gateway

Accept Direct Crypto Payments Using the Rocketr Gateway

It’s in the best interest of businesses to offer their customers a variety of payment options. Cryptocurrencies can undoubtedly bring more buyers and many merchants have introduced support for digital assets. A platform called Rocketr helps merchants accept payments in crypto, including bitcoin cash.

Also read: Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

Payment Platform Supports Traditional and Crypto Options

Rocketr is a payment gateway that allows merchants to integrate a variety of payment methods including traditional options like credit cards and Paypal, but it has also been supportive of cryptocurrencies such as bitcoin cash (BCH). Its services are offered for a relatively low fee of 0.5% on all transactions and there are no other hidden charges for setup or maintenance.

The Rocketr Payments platform lets you accept all kinds of payments and invoice clients directly from a single dashboard. Its API provides you with the opportunity to customize checkouts and it allows for webhooks and instant payment notification. These features notify your Rocketr application when an order is completed.

Accept Direct Crypto Payments Using the Rocketr Gateway

Companies can also use a product called Storefront which is a complete e-commerce platform. It is designed to satisfy the needs of online businesses specializing in sales and delivery of products and services in the digital space. Many of its integrated features, such as the built-in messaging system and livechat support, are offered free of charge.

Rocketr has also developed a POS application that supports multiple cryptocurrencies including BCH. It lets you accept direct payments in several other major digital coins like BTC, ETH and LTC as well as fiat currencies such as USD, EUR and GBP. The software, which is available in Apple’s App Store, comes with many useful features, one of which lets customers add a tip to their bills.

If you want to process BCH payments you can also check out the Bitcoin Cash Register app for both iOS and Android devices. The simple Point of Sale software developed by Bitcoin.com allows merchants to accept electronic cash at any retail location. Payments are easy, safe and no account or registration is needed to install and use it.

What other applications for direct crypto payments would you recommend? Let us know in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.


Images courtesy of Shutterstock.


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#Blockchain Indian Crypto Community Petitions Government for Regulation

Indian Crypto Community Petitions Government for Regulation

Following widespread reports of the upcoming Indian cryptocurrency bill, the crypto community has started a petition for the government to quickly implement a regulatory framework for cryptocurrencies. In addition, a television network operated by the Upper House of the Indian Parliament has aired a program discussing the bill, and three Right to Information requests have been filed seeking answers about the bill.

Also read: Indian Cryptocurrency Regulation Is Ready, Official Confirms

Petition to Accelerate Crypto Regulation

Since details of India’s “Banning of Cryptocurrency & Regulation of Official Digital Currency Bill 2019” have emerged, there have been constant discussions about this bill, what it entails, and whether it is the bill that will be submitted to the finance minister. While two prominent local publications have claimed to possess information about the bill, many unanswered questions remain.

In an effort to stop speculation and FUD (fear, uncertainty, and doubt), Blockchain Lawyer founder Varun Sethi started a petition on Change.org on June 15 to the Department of Economic Affairs and the country’s central bank, the Reserve Bank of India (RBI). Anyone can sign the petition entitled “Implementing Regulatory Framework for Cryptoassets in India” and possibly help shape the crypto regulation in the country. At press time, 1,437 have signed the petition.

Indian Crypto Community Petitions to Accelerate Regulation

“This petition is neither sponsored by any specific blockchain or cryptoasset company / exchange / group in any manner whatsoever nor has any compensation being received from anyone to initiate such petition,” the petition reads:

The purpose of this petition is to engage the blockchain community and the government in a more democratic and engaging environment to accelerate the implementation of regulatory framework regarding blockchain and cryptoassets in India and relinquish the ambiguity which has developed around it.

“India is home to 2.7 million tech developers which is expected to grow to 5.2 million in [the] next 48 months,” Sethi began. He referenced the banking restriction imposed by the central bank in April last year as well as the Right to Information (RTI) request he filed, which revealed that the RBI did not do any research before implementing the banking ban on crypto businesses.

Indian Crypto Community Petitions to Accelerate Regulation

Sethi also outlined other countries’ crypto regulatory efforts such as Japan, Malta, Canada, Estonia, Germany, and Norway, “to better regulate and tap the potential of this technology.” The lawyer proceeded to make some suggestions for India such as officially defining terms like blockchain and crypto assets, providing a regulatory sandbox for new crypto assets to be tested in, registering initial coin offerings, defining KYC/AML guidelines, and updating the Foreign Exchange Management Act and the Income Tax Act to report crypto income. He concluded:

The success of the petition shall be when the government issues guidelines for a democratic regulatory framework for blockchain and cryptoassets entities in India, perhaps on the suggestions stated above.

India’s cryptocurrency bill was drafted by an interministerial committee headed by Finance Secretary Subhash Chandra Garg, former Secretary of the Department of Economic Affairs. The committee was tasked with studying all aspects of cryptocurrency and making recommendations for its legal framework. Garg recently said that the report containing the regulatory framework for cryptocurrency was ready to be submitted to the finance minister.

Parliament TV Discusses the Ban Proposal

As speculation rises about what India’s cryptocurrency bill contains, Rajya Sabha TV (RSTV), a television network channel owned and operated by Rajya Sabha, the Upper House of the Parliament of India, aired its latest episode of Policy Watch Friday on the government’s decision to propose a ban on cryptocurrency. Policy Watch is a weekly show featuring discussions of national economic policies. Guests on the Friday episode included Mohd. Haleem Khan, a former secretary, Ministry of Finance.

Indian Crypto Community Petitions to Accelerate Regulation

In the show, Khan explained to anchor Kriti Mishra:

The issuance of currencies is a sovereign act … any currencies issued by anybody else comes to that level of counterfeit currency.

Mishra asked Khan about the 10-year jail sentence for “Whoever directly or indirectly mines, generates, holds, sells, deals in, transfers, disposes of or issues cryptocurrency or any combination thereof,” which according to Bloombergquint, “shall be punishable with fine as may be prescribed by the central government in the first schedule or with imprisonment which shall not be less than one year but which may extend up to ten years, or both.”

Khan described that there is a provision even today for a 10-year prison sentence for counterfeiting currencies. He further explained that another law that comes into play is the Foreign Exchange Management Act (FEMA) before concluding: “I don’t find anything wrong with this approach.”

Nischal Shetty, CEO of local crypto exchange Wazirx, commented on the Policy Watch episode:

If you hear the anchor, she’s reading out exact word to word from Bloomberg article … So let’s not assume this is confirmation.

India’s cryptocurrency bill will first need to be submitted to the finance minister for approval and introduced in Lok Sabha, the Lower House of Parliament. If approved, the bill will move to the Upper House of Parliament. Even if it’s signed into law, anyone can still go to court and challenge the constitutional validity of the law.

3 Confusing RTI Replies

At least three recent RTI requests have been filed regarding the bill to ban cryptocurrency: one with the Department of Economic Affairs, one with the central bank, and one with the Insurance Regulatory and Development Authority (IRDA).

Indian Crypto Community Petitions to Accelerate Regulation

The first of the three was filed by the founder of local news outlet Coin Crunch India on April 26, one day after the Economic Times published its article on the bill. “On May 20, 2019, DEA rejected the RTI application citing ‘Section 8(1)(i)’ as the reason for rejection,” the publication shared, adding that “This could mean that DEA simply rejected it because eventually the information has to be made public.”

The second RTI, filed by Sethi, reveals some interesting facts such as how the central bank did not have any knowledge of this bill and did not propose a ban on cryptocurrency. “RBI has actually stated that they have not received any communication from any department and they have also not given any communication to any government department pertaining to [the] drafting of this bill and this is very surprising,” Sethi explained. The third RTI was filed by a journalist at Crypto News India. The IRDA’s reply was short and swift; it says no information was available on the matter.

With so much speculation and misinformation floating around the cryptosphere, the crypto community is awaiting the government to make an official announcement regarding the bill. Further, the supreme court is expected to address India’s regulatory framework for cryptocurrency and the banking restriction on July 23.

What do you think of this petition? Will you sign it? Let us know in the comments section below.


Images courtesy of Shutterstock, RSTV, Change.org, and Varun Sethi.


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from Bitcoin News http://bit.ly/31CSHn5 Indian Crypto Community Petitions Government for Regulation

#USA Shyp is preparing for a comeback under new management

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Fifteen months after shutting down, Shyp is getting ready to launch again. The startup tweeted today that “We are back! We’re hard at work to rebuild an unparalleled shipping experience. Before we begin operations again, we’d love to hear your feedback in this quick survey. We look forward to working with you and can’t wait to change the future of shipping!”

Most of the survey questions focus on online shopping returns, asking how easy or difficult it was to package the product for return, print the prepaid label, purchase postage or ship the product. The last question offers a hint about what direction the rebooted Shyp might take, asking “When returning a product, how likely would you be to use a service that picked up and shipped the product instead of having to ship it yourself?”

Shyp’s website doesn’t say when it will be back or what services it will offer, but it does mention that Shyp restarted in January 2019 under new management and backed by angel investors “with plans to disrupt the industry with what it does best: cutting-edge technology and a superior customer experience.”

Once one of the hottest on-demand startups, Shyp shut down in March 2018 after missing targets to expand to cities outside of San Francisco. When it first launched in 2014, Shyp initially offered on-demand service for almost anything customers wanted shipped, charging $5 plus postage to pick up, package and bring the item to a shipping company. Eventually it introduced a pricing tier in 2016 as it tried to find new approaches to its business model, before closing down two years later.

If the new Shyp does focus on making online returns easier, it will be bringing back one of its most popular services. The company expanded into online returns in 2015 after noticing that many customers used the app to return products they had purchased online.

TechCrunch has emailed Shyp for more information.

from Startups – TechCrunch https://tcrn.ch/2RrqTgR

#Blockchain Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

Craig Wright, the notorious Satoshi Nakamoto claimant, must appear in court on Monday or be held in contempt. The Florida court granted a motion to compel on June 14, mandating Wright to provide a list of all the bitcoin addresses he’s owned prior to December 2013.

Also Read: The Blind Trust Described in the Kleiman vs. Wright Lawsuit Is a Real Head-Scratcher

Craig Wright Must Appear in Florida Court on Monday

A Southern District Court of Florida judge has ordered Craig Wright to appear in Florida on Monday, June 17 or be held in contempt of court. Three days ago, news.Bitcoin.com reported on the barrage of developments in the Kleiman vs. Wright lawsuit. Wright had described a very complex method of splitting keys using a form of Shamir’s Secret Sharing (SSS) algorithm into a blind trust.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit
Craig Wright, the man who claims to be Satoshi Nakamoto, must appear in court on Monday in Florida.

The lawsuit started last year in February as the representatives of the now deceased Dave Kleiman believe his inheritance was misappropriated by Wright. Last month Wright was ordered to produce a list of all the bitcoin addresses he owned as of December 2013. However, Wright hasn’t been so forthright with providing these addresses and has explained to the court that methods used in the so-called blind trust make it complicated for him to obtain.

“Dr. Wright does not know the public addresses of the bitcoin held by the trusts (i.e., the bitcoin mined by Dr. Wright in 2009 after block 70, through 2010),” Wright’s attorneys detailed last week.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

Then on June 14, the court handed down a motion to compel, which means the plaintiffs found Wright’s prior discovery responses insufficient. The motion to compel tries to force him to answer by using the court as leverage so he will produce his bitcoin address documentation. Stephen Palley, a lawyer who comments frequently on cryptocurrency cases, explained on Twitter that he believes sanctions are coming if Wright doesn’t comply. “Listen, I have no idea who Satoshi is — I can tell you that the court isn’t buying what this guy is selling though and is creating a strong incentive to settle,” Palley added.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

Deciding Whether Sanctions Are Warranted

The latest motion gives Wright much less wiggle room as far as being non-compliant is concerned. Being held in contempt could be a punishable offense or make matters worse for his defense. Furthermore, Wright has also been ordered for both a show and cause hearing and a second deposition on June 28. The order on the plaintiff’s motion to compel uses some strong arguments against Wright’s recent blind trust description involving complex encryption and the SSS algorithm. For instance, the order opens with an in-depth description of encryption and notes that the technique has been used since the time of Julius Caesar. Moreover, it highlights that Wright swore that the encrypted file that contains the public addresses and private keys to the bitcoin he mined requires a combination of himself and the blind agreement’s trustees in order to open the SSS algorithm.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit

The Kleiman estate wants to compel Wright to comply or they will “seek sanctions for his failure to do so.” The plaintiffs then describe how the SSS algorithm works and how Wright conceded to participate voluntarily in this system, which means he should have some basic understanding of the keys he possesses and the members of the blind trust in order to obtain the funds. The motion to compel order states:

[Wright] has not explained why he cannot obtain and has not obtained, the necessary keys from these third parties. At this point, the record before the Court fails to demonstrate that Dr. Wright cannot through reasonable diligence comply with the Court’s March 14th Order. The Court will allow the parties to develop a full evidentiary record before it decides whether sanctions are warranted.

Judge Orders Craig Wright to Physically Appear in Florida Lawsuit
Some people believe the Kleiman vs. Wright case will produce answers to whether Wright is who he claims to be.

The discussion about Wright’s case has been making the rounds on crypto Twitter and many are curious to see if the case will open up more of this mysterious story. A few digital currency enthusiasts think, however, that Wright’s disciples will believe he is Satoshi no matter how the case turns out.

Those who don’t trust Wright’s story and think he’s a charlatan are inclined to presume the case may expose him. According to the latest motion to compel, Wright must be physically present in Florida by Monday and explain why he cannot provide a list of addresses. Failure to comply with any of the aforementioned court requests will have consequences either way.

What do you think about the recent developments in the Kleiman vs. Wright lawsuit? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Court Listener, Pacer, Twitter, and Pixabay.


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#Blockchain Markets Update: Crypto Prices Surge After Last Week’s Pullback

Digital currency markets have regained some of the losses they endured last week, with the entire cryptoconomy now valued at $275 billion this Saturday. Most cryptocurrencies are up in value between 2-8% today but global trade volumes have tapered off with only $63 billion swapped in the last 24 hours.

Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading

Digital Asset Markets See Fresh Gains

Cryptocurrency markets have been all over the place lately, giving enthusiasts and traders constant surprises. Most markets have seen decent gains after last week’s slump brought most coins down to foundational support. This Saturday, June 15, bitcoin core (BTC) is trading for $8,791 per coin and has a market valuation of around $156 billion. BTC markets are up today around 4.4% and up over 10% for the last seven days.

Markets Update: Crypto Prices Surge After Last Week's Pullback
Top 10 cryptocurrencies by market cap on Saturday, June 15, 2019.

The second largest market cap belongs to ethereum (ETH) which is priced at $265 per unit. ETH has gained 3.3% this Saturday and roughly 7.6% for the week. Ripple (XRP) is trading for $0.40 per coin and has a market cap of about $17 billion. Lastly, litecoin (LTC) is up 5.2% today and trading for $135 per LTC. Additionally, the market price of LTC has gained 17.4% over the last seven days.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) is up today around 2.4% and 6.4% for the entire week. One BCH is swapping for an average of $419 at the time of writing and the market capitalization is worth $7.49 billion. The top exchanges today swapping the most BCH include Huobi Korea, Coinbene, P2pb2b, Hitbtc, and Digifinex. The top trading pair with BCH today is tether (USDT), capturing 46.6% of all trades. This is followed by BTC (32.5%), USD (10.2%), KRW (5.1%), and JPY (1.57%). Both the EUR and ETH pairs have increased but the Korean won (KRW) paired against BCH has grown significantly this week. Right now BCH is the sixth most traded coin as far as global volume is concerned. Bitcoin cash has about $1.66 billion in global trade volume in the last 24 hours.

Markets Update: Crypto Prices Surge After Last Week's Pullback
BCH on Saturday, June 15, 2019.

BCH/USD Technical Indicators

Today the 4-hour BCH/USD chart on Kraken indicates that BCH bulls have managed to surpass resistance at the $400 mark. Currently, most oscillators are showing neutral signs at the moment as the Relative Strength Index (RSI) hovers around ~62.42, which is closer to overbought conditions. The two Simple Moving Averages (SMA), both long term (200 SMA) and the short term (100 SMA) trendlines, have crossed paths once again with the 100 SMA above the long term trendline.

Markets Update: Crypto Prices Surge After Last Week's Pullback
BCH/USD on Kraken – Saturday, June 15, 2019.

This would indicate that the path toward the least resistance, for the moment, is in the bulls’ favor and most moving average indicators show buy signals. The Ichimoku Cloud (9, 26, 52, 26) baseline is currently impartial, while the MACd ~6.65 shows there’s room for more price improvements. Looking at order books shows some strong resistance above the $440 zone and BCH bulls will need to surpass this region. On the backside, order books give a good visualization of some solid foundational support between the $390 price range and the $365 area.

Markets Update: Crypto Prices Surge After Last Week's Pullback
24-hour money flows into crypto – Saturday, June 15, 2019.

The Verdict: Newfound Crypto Market Optimism

The last 48 hours of increased prices have injected some positivity into the community and many wonder if things will remain bullish. Litecoin has done well over the last few weeks and traders believe the recent push is due to the supply cut taking place in August. Moreover, BCH has seen incredible amounts of development over the last few months and programmers have shown off lots of innovative concepts like Cashshuffle, SLP tokens, and Shnorr signed transactions. The price of bitcoin cash and its incredible gains this year have likely been a reflection of ongoing development improvements. Crypto prices this month, in general, are doing a whole lot better than the market performances back in December 2018. This has given people newfound optimism and a sense of relief after the long crypto winter.

Where do you see the price of bitcoin cash and the rest of the crypto markets heading from here? Let us know what you think about this subject in the comments section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Trading View, Bitcoin.com Markets, and Coinlib.io.


Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

The post Markets Update: Crypto Prices Surge After Last Week’s Pullback appeared first on Bitcoin News.

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#Blockchain Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

If you need to regularly cover fiat payments but prefer to use your digital assets, a platform like Piixpay can be very helpful. The payment provider allows you to use cryptocurrencies to pay invoices, bills and make other recurring payments to recipients that still accept only traditional money.

Also read: Bounty.Cash Pairs Projects With Developers Finding Solutions for BCH

Spend Bitcoin Cash, Make Fiat Payments

To initiate a new payment with Piixpay you have to provide the beneficiary’s name and Iban number. You are required to enter the exact amount in euros, as the platform processes bank transfers in Europe’s single currency. You also need to add a short description of the transaction and an optional reference number.

Then you have to choose the crypto you are going to spend. Piixpay currently supports four major digital coins – bitcoin cash (BCH), bitcoin core (BTC), litecoin (LTC), and dash (DASH) – as well as a stablecoin backed by euros. Est-coins (ESCT) are issued by Piixpay’s operator, Ungaro LLC, and have a redemption value of €1 per coin.

Piixpay has another useful feature called Instafill. It lets you link a crypto wallet address to a bank account. Each time coins are sent to that dedicated address, the payment processor will exchange the cryptocurrency and send the fiat to your bank account. You can also check the status of any payment at all times.

To use the services of the crypto payment platform you have to create an account. You can sign up with a valid email address or use your Facebook, Google, Linkedin, Windows or Yahoo account. Piixpay is registered and licensed in Estonia but it operates in over 100 countries around the world.

There’s a service fee of €1 + 1.75% of the amount for transactions funded with cryptocurrencies. Bank transfers cost €1 for transactions within the Single Euro Payments Area (SEPA) and €40 for outside the zone. The smallest amount you can transfer is 1 euro and each transaction is limited to a maximum of €20,000. You can find more information about all applicable fees on Piixpay’s website.

Do you know other payment platforms similar to Piixpay? Tell us about them in the comments section below.

Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.


Images courtesy of Shutterstock.


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