Data Startup Wants to Rank Every Cryptocurrency Product From Media to Wallets

Cryptocurrency data startup Nomics, in partnership with Nexo, is introducing algorithmic rankings of crypto wallets, lenders, custodians, tax services and over-the-counter desks. The plan is to eventually extend these rankings to every crypto product category, including media outlets. According to Nomics CEO Clay Collins, the same algorithm is applied to all categories without any manual intervention, which should make the rankings more objective. Each entity receives a reputation score based on social media activity and site links. The exact recipe is not disclosed in order to prevent manipulation. Unexpected results…

How Cryptocurrency Funds Work

Cryptocurrency funds are a new type of investment vehicle that parallels traditional portfolio investments, like hedge funds, but are composed entirely out of digital assets. Because of this, they play by slightly different rules than their legacy counterparts. Knowing how they differ and where to get involved is key for those who want to jump into this intriguing new world, so we’ve outlined the main points in this helpful guide. What are cryptocurrency funds? The term “cryptocurrency fund” refers to a portfolio containing a variety of different digital assets and…

Cryptocurrency Apps Unscathed as India Bans TikTok and 58 Other Chinese Apps

Share this article In a surprise move yesterday, the Indian government has blocked 59 apps with Chinese links that include hugely popular apps such as TikTok, WeChat, and UC Browser. The block comes amidst rising tensions between India and China on the eastern Ladakh border. Indian government’s official stance regarding the sudden app ban is to “protect the security and privacy of the nation.” Following the ban, a rumor spread across the Indian cryptocurrency community that cryptocurrency companies with links to China were also at risk. So far, no cryptocurrency…

Cryptocurrency News From Japan: June 21

This week’s headlines from Japan included SBI announcing a digital asset investment fund, Bitflyer Holdings using blockchain for shareholder meeting voting, Japan’s Financial Services Agency warning two unregistered crypto exchanges, a Japanese digital asset exchange self-regulatory group changing chairmen, and Coincheck announcing launch details for its digital shareholder meeting platform.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. SBI unveils a crypto investment fund As an option for individual participants, Japanese financial services entity SBI Holdings expects to form and open Japan’s first…

Financial Inclusion, Cryptocurrency and the Developing World

Beyond rapidly changing how we create, store and transfer value, cryptocurrencies are accelerating financial inclusion in a way that traditional financial institutions have either been unwilling or unable to. Yet crypto’s possibilities go way beyond banking the unbanked. It allows developing nations and those without access to financial services to avoid the bank completely and transact and grow small businesses using just a mobile phone. Why financial inclusion is so important Even today, almost 2 billion people around the world have no access to financial services. That’s approximately one-fourth of…

Cryptocurrency News From Japan: June 14

This week’s headlines from Japan included research company Xangle releasing a report on Japanese crypto regulation, Binance supporting Japan’s language but not its residents, SBI Holdings turning gift certificates digital with blockchain, and Nomura Holdings opening a crypto custody service with Ledger and Coinshares.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Research outfit details Japanese crypto regulation A new report surfaced last week from research outfit Xangle regarding Japanese digital asset regulation. Citing multiple examples of already-approved assets listed on exchanges, the…

UNICEF Cryptocurrency Fund Makes Its Largest-Ever Investment

Today eight technology companies from seven different emergent economies will receive an investment of Ethereum cryptocurrency from the UNICEF Cryptocurrency Fund. UNICEF’s crypto-enabled investment vehicle has given these companies 125 ETH, worth approximately $28,600, to use in scaling or prototyping their respective technologies over the next six months. Companies receiving this investment have already received as much as $100,000 in fiat currency from UNICEF’s Innovation Fund. One such company, Afinidata, offers educational content to parents with young children. Another one, Cireha, builds communication systems for children with speech or language…

SEC Shuts Down Another Fraudulent Cryptocurrency Fund

Key Takeaways High Street Capital is facing charges of fraud from the SEC after offering misleading investments The company’s operators exaggerated profits and transferred business money to their personal accounts This is one of many crypto-related actions from the SEC Share this article The Securities and Exchange Commission has announced emergency action against a fraudulent cryptocurrency investment fund operated by Sean Hvizdzak and Shane Hvizdzak. Fraudulent Investment Fund Between July 2019 and May 2020, the Hvizdzak brothers offered a cryptocurrency fund to investors through at least three of their Pennsylvania-based…

South Korea’s Finance Minister Confirms Plan to Tax Cryptocurrency

The South Korean Finance Minister, Hong Nam-Ki, announced plans to impose a tax on cryptocurrency, while speaking to the parliamentary finance committee on June 17. According to a report from local news outlet, Korea JoongAng Daily, the ministry will reveal further details of the plan next month. Hong told the committee that the government: “Has continued to realign its tax system to reflect changes in market conditions, but it is especially working to refine its list of taxable items and types of tax this year.” Previous crypto tax proposals As…

Forex vs. Cryptocurrency Trading, Explained

Despite many similarities, key differences between these markets remain. One of the largest is the nature of OTC trading versus using exchanges but also how these markets respond differently to global economic pressures. You’ve likely already picked up on many of these differences, and a major one is the nature of exchanges versus OTC trading. OTC trading offers global liquidity, but trades often must be facilitated by a broker, as mentioned before. It is possible to get an account that gives direct access to the market, but this is highly…