Author: Anna Galvez

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Crypto

Litecoin (LTC) Price Might Surge As Toshi Cryptocurrency Wallet Announced Its Plans To List LTC

Toshi is a digital wallet platform that delivers a wide array of solutions for cryptocurrency investors. At the moment, Toshi is centering on Ethereum-based solutions, although a very recent tweet, re-published by the renowned Charlie Lee, the creator of Litecoin, hints that Litecoin (LTC) would be the upcoming addition on Toshi. If true, Litecoin (LTC) price might surge.

Apparently, Toshi has confirmed the news:

Toshi users often tell us that they love the power and simplicity of our user-controlled portfolio, where they can securely store and manage the assets available in the Ethereum blockchain (…) we are working to add support for other cryptocurrencies available on Coinbase, such as Bitcoin (BTC), Bitcoin Cash (BCH), and Litecoin (LTC), to Toshi! We don’t have an official launch date yet but we will keep you informed as we approach launch support.

Siddharth Coelho-Prabhu of Toshi

Litecoin (LTC) price might surge after its addition on Toshi cryptocurrency wallet

For Litecoin (LTC) this is a highly encouraging perspective, as it might motivate some new customers to get acquainted with the LTC solutions. Furthermore, a future listing on Toshi would place LTC in a better light for a complete mobile integration, a kind of adoption that LTC appears to be struggling to achieve.

Currently, LTC is not enjoying its time in the cryptocurrency market to the maximum, so this news coming from Toshi might turn out to be very positive. When the LTC addition goes live on Toshi, we can expect to witness LTC price making some significant moves upwards.

Currently, at the moment of this article, Litecoin (LTC) $132.32 after losing about 5% in the last 24 hours. Currently, LTC is the 6th within the cryptocurrency market, by market cap – about $7,5 billion.

Besides, Bitcoin (BTC) is rumored to make a new update any time soon and, therefore, many crypto enthusiasts believe the LTC will also adhere, which might mean, corroborating with a Litecoin (LTC) addition on Toshi cryptocurrency wallet, LTC price might surge.

Categories
Crypto

Goldman Sachs To Launch “USD Coin”, Its Own ERC-20 Stablecoin Cryptocurrency Linked To The USD

Circle, a FinTech startup owned by Goldman Sachs, reported the future release of a Stablecoin crypto coin based on ERC-20 and tied to the US dollar value. The cryptocurrency owned by Goldman Sachs was referred to as the “USD coin” (USDC).

The crypto coin is sustained by the advancement of the CENTRE’s open source platform. USD Coin will operate as a “tokenized fiat money”, Circle declaring that the coin is of great significance to permit widespread adoption of the payments via blockchain technology. The new crypto coin also assists in the maturation of blockchain technologies that feature smart contracts.

USD Coin empowers customers to make use of USDC fiat tokens for cryptocurrency transactions and payments, as well as supplying a full stock of Stablecoin sustained by USD. USD Coin is designed on the open source platform Stablecoin for fiat money developed by CENTRE.

USD Coin is dedicated to providing alternatives to Stablecoin’s pre-existing offerings. Circle alleges that they have not been transparent, work in non-regulated jurisdictions with unspecified banking and auditing associates, and have been constructed as private proprietary-owned technologies. The USDC addresses this concerns by offering “detailed financial and operational transparency”.

Circle also stated that they will work within the legal regime of the US money transmission statutes, as would be the case for a corporation belonging to the fifth most important bank in the US, Goldman Sachs.

Goldman Sachs USD Coin is an ERC-20 Stablecoin tied with the USD

The USD Coin is constructed on the Ethereum ERC-20 Token standard and, therefore, it might be suitable for use on any cryptocurrency exchange that bears the ERC-20 standard. Also, it would be possible to use it with every single ERC-20-compatible digital cryptocurrency wallet.

There is a lot of interest from crypto ecosystem players, consumer companies, and banks to become USDC issuers and other tokens in different currency markets around the world.

Circle team

The supporters and sponsors of USDC are numerous, with the leading corporation in this regard being Bitmain, the renowned mining company and mining gear producer, which already plans a strategic $110 million investment in the new Goldman Sachs and Circle’s USD Coin (USDC) ERC-20 Stablecoin cryptocurrency.

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Crypto Markets News

The US Securities And Exchange Commission (SEC) Launched A Fake ICO To Warn Investors Regarding Scams

The world of initial issues of cryptographic currencies remains the US. There are many efforts by the authorities to safeguard the interests of investors in this type of micro-patronage for blockchain-based companies and the latest has been to ‘trick’ investors into showing them how easy it is to be swindled into such an initiative. Accordingly, the US Securities and Exchange Commission’s (SEC) Office of Investor Education and Advocacy has set up a fake ICO website to show that fraud is on the agenda in this sector after months of warnings about the risks of investing in these products.

The website, HoweyCoins.com, complies with all the characteristics, promises and the language of the ICOs considered false. When users click the ‘Buy Coins Now’ button, they are automatically redirected to the official SEC website, where investors will find tips and tools to avoid scams.

“We have created this fake website as an educational tool to alert investors to possible fraud involving digital assets such as cryptocurrency and initial coin offers (ICO),” said the SEC spokesman.

According to SEC, about 50% of all ICOs are fake ICO and disappear with all the funds

Some of the suspicious elements pointed out by the SEC are the advance of more than 1% of daily returns or forecasts of a minimum growth rate of between 7% and 15% annualized in profitability.

SEC also warns about ICOs that are backed by celebrities or that meet the SEC’s marketing requirements.

The fake ICO launched by SEC underlines the fact that about 50% of ICOs fail or disappear with the money. These are the shocking numbers of all the initiatives to raise funds through the issuance of digital tokens that were launched in 2017.

Only 54% were moving forward by mid-February 2018.

In the US, the Securities and Exchange Commission (SEC) has taken action against a number of cryptocurrency issues, slowing them down and, more recently, has announced that it will require all cryptocurrency exchange platforms to register and comply with the same rules that are applicable to the stock exchanges.

 

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Crypto News

New Cryptocurrency Regulation Has Been Adopted By EU And Targets More The Cryptocurrency Prepaid Cards

The General Affairs Council of the European Union (EU) announced the adoption of the new cryptocurrency regulation amended by the European Parliament to eliminate cryptocurrencies anonymity in the services of cryptocurrency exchange platforms, crypto wallets, and cryptocurrency prepaid cards.

In the quest to “address the risks associated with prepaid cards and cryptocurrencies”, since May 14th, the European Union has, without debate, undertaken to use the provisions set out in the new Law for the Prevention of Money Laundering and Financing of Terrorism. This resolution provides for an extension of access to “beneficial ownership” information by regulators, in order to eliminate as far as possible anonymity in transactions linked to companies in the Bitcoin (BTC) ecosystem.

On the other hand, cryptocurrency prepaid cards must be linked to verified identifications and restricted to a maximum of 250 Euros. An obligation to which they add the possibility for users themselves to be allowed to “self-declare” their identity on a voluntary basis.

The new cryptocurrency regulation adopted by EU aims more at cryptocurrency prepaid cards

In addition, the 2015 amendment to the legislation provides for an improvement in “transparency between companies and trusts”, which seeks first to facilitate the monitoring of the financial authorities of each country, as well as to require cooperation between research units so that they can operate more efficiently.

The just mentioned points are not only directed towards the illicit use of cryptocurrency, but also towards finances in general that are used to finance illegal activities.

European Union states will need to adapt their financial regulatory policies to this new legal framework regarding cryptocurrency regulation over the next 18 months for legal persons and other entities, and over the next 20 months for trusts.

It is important to note that the legislation, according to French MP Judith Sargentini, is mainly focused on the control of cryptocurrency prepaid cards, as they were used to rent and buy vehicles that served to prepare the terrorist attacks that happened in France in 2016.

Categories
Crypto

Bitcoin (BTC) Will Be The Native Currency Of The Internet, According To Jack Dorsey, Twitter CEO

Jack Dorsey, the co-founder and the CEO of the famous social networking site Twitter, as well as the Square payment platform, was a guest speaker at Consensus 2018, the event where he commented exclusively on his predictions about the use of cryptocurrencies in the financial market in the long term, stating that, in his opinion, Bitcoin (BTC) will be the native cryptocurrency of the Internet.

According to reports coming from Bloomberg and David Floyd, one of the reporters present at the Consensus 2018 gala, in New York City, USA, Jack Dorsey said that the Internet needs a native currency that facilitates transactions and payments within the web without limitations from third parties.

Although the co-founder of Twitter is not entirely sure if the cryptocurrency assets will end up taking the place of the Internet’s native currency, he does hope that Bitcoin (BTC) will be able to capitalize on the cyber market and become a currency among web users.

Jack Dorsey, the CEO of Twitter, is not at his first statements in the favor of Bitcoin (BTC)

“The Internet deserves a native currency. It’ll have a native currency. I don’t know if it’s Bitcoin (BTC) or not. I hope it is,” were the words the businessman gave to the group of enthusiasts who attended the event.

Similarly, Jack Dorsey commented that he has always been an enthusiast of the philosophy of cryptocurrencies, an assertion that is based on the constant support the co-founder of Twitter given to crypto coins, over the time.

However, at first, when Bitcoin (BTC) White Paper was launched, it did not understand the long-term impact and implications of this new blockchain technology, as he himself admitted.

In the past, however, Jack Dorsey has already expressed his deep confidence in the potential for financial transformation of blockchain technology and cryptocurrencies, tools that have emerged for him as the great technological innovations of this decade with the capacity, in the case of Bitcoin (BTC), to become the native currency of the Internet.

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