French Soccer Star Claims Crypto Scam Impersonated Him

French international soccer striker Kylian Mbappé filed a complaint on March 31 for the unauthorized use of his name on a cryptocurrency scam network, which is being investigated by local authorities. According to the newspaper L’Équipe, the soccer player, who plays for Paris Saint-Germain, is being impersonated to use his name in advertising campaigns for the alleged scam that involves a cryptocurrency acquisition scheme. These advertising posts cited false statements by Mbappé, where he allegedly claimed that the formula offered by the network was miraculous and that people could become…

Brazilian Crypto Exchange XDEX Announces Full Closure

Brazilian crypto exchange XDEX, which is owned by the largest stock broker in Latin America, announced the end of its activities. The company announced its closure on March 31: “Today, we announce that XDEX is starting the process of closing its activities. Market projection, competition and few regulatory advances reduced the opportunities found at the beginning of the project and were the basis for this difficult decision.” Take some time The company offered non-custodial exposure to cryptocurrencies, so customers have up to 30 days from the day of the announcement…

Russia Postpones Its Crypto Law Again, Now Blaming Coronavirus

After facing multiple delays, the adoption of Russia’s major cryptocurrency law will be postponed again, now due to the coronavirus. Anatoly Aksakov, chairman of the Russian State Duma Committee on Financial Markets, says that the country’s crypto law — the bill “On Digital Financial Assets” — is now finalized but won’t be adopted before the end of the spring 2020. Russian authorities have been arguing about crypto regulation since January 2018 According to a March 31 report by Russian news agency RBC, Aksakov has admitted that previous delays in the…

Bitfury Becomes Latest Crypto Industry Player to Join COVID-19 Research Project

Blockchain development firm Bitfury is re-assigning the computing power it uses for digital currency transaction processing to COVID-19 research. In an announcement on March 31, the company revealed that it had been allocating its high-powered GPU-enabled computing nodes to run COVID-19 calculations as of March 20. The redirection of Bitfury’s resources is contributing to a distributed computing endeavor, Folding@Home (F@H), created by a consortium of scientific research labs across North America, Europe and Asia. In the wake of the global COVID-19 pandemic, F@H has launched a project to run simulations…

Crypto Conference Defies COVID-19 Lockdown by Hosting in Virtual Realm

The COVID-19 crisis may have put a stop to millions of sports events, work conferences and meet-ups across the world, but it has not halted those in the cryptocurrency space. The Coinfest Conference, which runs until April 4, has found a way to defy the coronavirus lockdown by setting up shop in the digital blockchain realm of Decentraland.  The first day of the virtual conference kicked off on March 30th, beginning with a round of games that offered users the chance to win MANA tokens — one of Decentraland’s native…

Institution-Focused Crypto Trading Platform Reports 737% Revenue Increase in 2019

Hong Kong Stock Exchange-listed BC Group, the operator of institution-focused digital assets trading platform OSL, reported a 737% increase in revenue in 2019. On March 31, BC Group revealed that its OSL digital assets platform had been its largest 2019 earner, accounting for 44% of the Group’s revenues — up from just 6% in 2018. The OSL digital assets platform offers institutions services that include over-the-counter brokerage, Software-as-a-Service tools, custodial services and institutional digital asset exchange.  Regulatory progress Total year-on-year revenue for BC Group in 2019 was RMB72 million ($10…

Civic Wallet Now Offers $1M ‘FDIC-Like Insurance’ for Crypto

Civic Wallet is a multi-signature non-custodial wallet that now comes with a $1,000,000 guarantee from Coincover. Civic Technologies (CVC) has been known in the crypto space as one of the leading providers of decentralized identity and is now purportedly the first company to offer a non-custodial wallet with $1,000,000 protection. The wallet is currently in private beta. Speaking to Cointelegraph, Civic co-founder and CEO, Vinny Lingham compared its key feature to the protection offered by the Federal Deposit Insurance Corporation (FDIC): “This is the first time that both technical and…

Binance to Launch Crypto Exchange Supporting KRW-Backed Stablecoin

Crypto exchange Binance is preparing to enter the Korean market for the first time. According to a company blog post on March 31, the Malta-based exchange will soon open Binance KR for trading. The crypto-to-crypto exchange is so named for South Korean traders.  Binance KR will be launched on Binance Cloud and offer the “market’s deepest spot trading liquidity, most robust matching engine, and most advanced state-of-the-art security, custody, and risk controls.” The exchange will also support Binance KRW (BKRW), a stablecoin backed by the South Korean Won (KRW). Users…

Singapore Crypto Exchange Eyes US Expansion After Registering With FinCEN

While global cryptocurrency firms increasingly come to Singapore to benefit from its crypto-friendly ecosystem, some local firms are also expanding their operations beyond local jurisdiction. Bitget, a Singapore-headquartered digital asset platform, has obtained regulatory approval from the United States Financial Crimes Enforcement Network (FinCEN), the primary regulator for money service businesses in the country. MSB license is part of Bitget’s strategy to be compliant in “as many regions as possible” According to public records, the FinCEN granted Bitget a Money Service Business License (MSB), authorizing the Singaporean company to act…

Chainlink Fences in Reliable Price Data for Crypto Lender Celsius Network

Crypto’s largest price oracle, Chainlink, is moving into the custodial crypto landscape. Celsius Network will integrate Chainink to fence in decentralized price feeds, and Chainlink will use Celsius’s unique treasury system to manage its cryptoassets.  Chainlink Fences in Reliable Data Chainlink has partnered with billion-dollar organizations like Google and Intel, but this is the first instance of a partnership with a custodial crypto service.  Celsius Network is a financial platform that pays users to deposit funds, and lends deposited collateral to institutional funds that borrow crypto to invest.  Celsius will…