China’s Foreign Exchange Regulator Piloting Blockchain in Trade Finance

The agency that regulates and manages China’s foreign exchange reserves has developed a blockchain system aimed to address inefficiencies in cross-border trade finance. As reported by local financial news source CNStock, the State Administration of Foreign Exchange (SAFE) worked with the Hangzhou Blockchain Technology Research Institute to build the open blockchain platform, which uses multi-signature technology to … Read more

New York State Sees First Conviction for Crypto Money Laundering

A case involving millions of dollars in bitcoin and Western Union payments has resulted in New York State’s first conviction for cryptocurrency money laundering. The Manhattan District Attorney’s Office announced Wednesday that defendants Callaway Crain and Mark Sanchez, both 35, laundered $2.8 million earned through sales of controlled substances carried out over the internet. Between 2013 … Read more

Samsung Developing Ethereum-Based Blockchain, May Issue Own Token

South Korean electronics giant Samsung is developing its own blockchain network and eyeing the issuance of its own token further down the road. An exclusive CoinDesk Korea report on Tuesday, citing a person “familiar with Samsung’s internal situation,” said that the company’s blockchain task force – part of its wireless division – is building a … Read more

Coinbase Shutters High-Speed Crypto Trading Division, Axing 30 Jobs

Cryptocurrency exchange Coinbase is shutting down the Chicago office it opened a year ago, eliminating 30 engineering jobs. The San Francisco-based startup’s Chicago division, known as Coinbase Markets, was dedicated to creating sophisticated electronic markets technologies such as matching engines and high-frequency trading for cryptocurrency.   Coinbase said a year on, it had made the … Read more

Crypto Exchanges Huobi and Fisco Investigated by Japan Watchdog: Report

Cryptocurrency exchanges Huobi Japan and Fisco are said to have been investigated by the country’s financial watchdog last week. A Reuters report on Tuesday, citing “two sources familiar with the matter” said that the Financial Services Agency (FSA) visited the two exchanges to assess their customer protection and anti-money laundering (AML) provisions. Japanese exchanges run by … Read more

Civic Inks Deal to Bring Blockchain ID to 1,000 Vending Machines

It started with selling beer, but age verification could crack open a whole industry to cryptocurrency. CoinDesk previously reported on the demonstration of Civic’s beer-selling machinery at this year’s South by Southwest (SXSW). Now the company is announcing partnerships with 12 major automated retail companies – AAEON, AR Systems, Fastcorp Vending, Global Vending Group, greenbox … Read more

Student Gets 10-Year Jail Term for SIM-Swap Crypto Thefts Worth $7.5 Million

A 21-year-old student from the U.S. who stole over $7.5 million in cryptocurrency via SIM-swapping hacks has been sentenced to 10 years in prison. The Santa Clara County’s District Attorney’s Office announced Monday that the thief, Joel Ortiz, had hacked the cellphones of at least 40 individuals. Ortiz was a “prolific” SIM swapper, the Attorney’s … Read more

Coinbase’s Political Action Committee Shuts Down Without Ever Raising a Cent

Coinbase is moving to shut down its political action committee (PAC) without ever raising a cent. The San Francisco-based crypto exchange filed a Termination Report for its PAC on April 3, 2019, according to publicly available documents on the Federal Election Commission’s website (FEC). The move means that the exchange wants to shut down its PAC, … Read more