Binance Now Supports Deposits and Withdrawals in Hong-Kong Dollars

Cryptocurrency exchange Binance has opened a fiat gateway for Hong Kong dollars. Launched thanks to its partnership with Epay, Binance said on Monday that users can deposit and withdraw Hong Kong dollars from today for trading against supported cryptocurrencies. Binance already supports euros and pounds sterling through Epay, a payments provider founded in Hong Kong in 2014. The latest addition is something of a coup for the exchange, as banks in the jurisdiction are notoriously averse to offering accounts to cryptocurrency companies. The local Gatecoin exchange closed last spring pointing…

Alleged Crypto Capital Operator Faces New Wire Fraud Charge

Reginald Fowler, an alleged operator behind payment processor Crypto Capital, was charged with wire fraud Friday, on top of existing charges of bank fraud, operation of an unlicensed money transmission business and conspiracy. According to an indictment filed Friday, Fowler allegedly created a scheme to obtain money “by means of false and fraudulent pretenses” and directed the funds to a professional sports league. While the indictment does not name the league, Fowler was previously the primary investor in the Alliance of American Football, a short-lived alternative to the National Football…

e-Commerce Giant Shopify Joins Libra Association

Digital commerce platform Shopify has joined the Libra Association. The company announced the move in a blog post Friday, becoming the latest member of the Facebook-founded stablecoin developer. Shopify joins roughly a month after Vodafone pulled out of the organization to focus on its own digital payments system. This is the first new member of the organization since its formation four months ago. Shopify said in its blog post it intends to “work collectively” to build a payment network that works “everywhere.” Libra was unveiled by Facebook last summer as…

JPEG on the Blockchain: Image Format Creator Believes Tech Can Fight Copyright Theft

The organization that created the popular JPEG picture format believes blockchain could be used to verify images, as well as flag fakes and image theft. The Joint Photographic Experts Group (JPEG) said blockchain has “great potential” as the basis of a system that would use a combination of encryption, hash signatures and watermarking in an image’s metadata to protect copyright, Digital Trends reported Thursday. The system could have advantages over existing verification models, JPEG said at a recent meeting in Sydney, Australia. Instead of signing up for a particular program,…

The Domain Startups Building an Uncensorable Internet on Top of Ethereum

Ethereum developers are leveraging blockchain’s censorship-resistant nature to launch the next iteration of the internet, Web 3.0. Last weekend at ETHDenver – one of the conference circuit’s top gatherings of ethereum coders – decentralized internet alternatives were on display, including Ethereum Name Service (ENS), Unstoppable Domains and UniLogin. Launched in 2017 and 2018, respectively, ENS and Unstoppable Domains are confronting the hierarchical nature of the internet stack and the Domain Name System (DNS) by building out a peer-to-peer (P2P) internet alternative. Meanwhile, UniLogin provides a portal to Web 3.0 projects…

Fidelity International Invests $14M in Hong Kong Crypto Exchange Operator

Fidelity International, a spin-off from the U.S. financial services giant Fidelity Investments, has invested $14 million in the Hong Kong-based operator of crypto exchange OSL. According to public disclosures on Feb. 21, Fidelity International bought 17 million shares of OSL owner BC Group at a price of HK$6.50 (US$0.83) per share, which brings it a 5.6 percent stake in the firm. The investment is part of a $36 million share placement that Hong Kong Stock Exchange-listed BC Group announced last month. While the transaction was completed Feb. 12, the names…

New Settlement Layer to Offer Asian Crypto Institutions Local Alternative to Silvergate Bank

Legacy Trust’s digital asset division has plans to create the first settlement layer in Asia for institutional investors trading both fiat and cryptocurrencies. First Digital Trust (FDT) announced Friday that its new rapid settlement and clearing network (RSCN) will provide custodian clients, including some of Asia’s most prominent over-the-counter desks and financial institutions, with the means to transfer digital assets seamlessly across the region. Based in Hong Kong, FDT also holds its clients’ funds there because the territory’s regulatory framework allows them to offer a custodial solution for both cryptocurrencies…

Insolvent Exchange FCoin Had Bitcoin Outflow Problems Just Two Months After Launch: Report

Cryptocurrency exchange FCoin, which revealed its insolvency this week, may have already been leaking bitcoin as early as July 2018 – just two months after its debut. On-chain analysis and security startup PeckShield released a report on Friday, suggesting FCoin’s bitcoin (BTC) wallets had a significant outflow of nearly 10,000 BTC between July 19 and Aug. 31, 2018 – a time that coincided with the occurrence of the fatal “data error” that FCoin founder Zhang Jian mentioned in his tell-all post on Feb. 17. While announcing that FCoin was insolvent, the…

WATCH: Vitalik Buterin Explains the New Tech Behind Eth 2.0

Where do things stand with the tech overhaul of the world’s second-largest blockchain? We took the question to ethereum creator Vitalik Buterin at ETHDenver last weekend. Here’s what he had to say: Eth 2.0 is the next iteration of the ethereum blockchain, incorporating novel protocol designs such as proof-of-stake (PoS) and sharding. Last December, Buterin released a blog post on ways to speed up the launch of Eth 2.0, which has been in the works for years. PoS consensus algorithms reward cryptocurrency investors for holding the network’s native currency. Holding…