By CCN Markets: Canada’s largest chain of pharmacies announced a big partnership at the World Cannabis Congress on Monday. Shoppers Drug Mart will be working with TruTrace Technologies (until recently known as BlockStrain) to bring blockchain-based verification to the medicinal marijuana market. If successful, it could help power cannabis stocks higher as more doctors become comfortable with prescribing the drug. For interested investors, TruTrace’s stock trades as symbol “TTT” on the Canadian stock exchange. Shoppers Drug Mart operates roughly 1,300 pharmacies in Canada and already sells various products containing marijuana. It hopes to make doctors and patients feel more secure.
Crypto Firms Turn Custody Kings to Meet Institutional Demand for Bitcoin
By CCN Markets: In the wake of high-profile hacks such as the $ 44 million recently removed from Binance’s coffers, BitGo CEO Mike Belshe spoke at Coindesk’s Consensus 2019 on matters including security and how this is hindering the will of institutions to involve themselves in Bitcoin and other digital assets. He told an audience at the event that “we are bringing to market a risk-less, efficient and compliant digital asset clearing and settlement” in a move that sees the security and custody solutions company stake a claim for institutional investors by moving crypto transfers off-chain. If a custodian settles
Study: Publicly Listed Chinese Firms Quietly Participate in Bitcoin Mining
According to regional reports, a few publicly listed Chinese companies have been secretly mining bitcoin by pretending to provide cloud or web hosting services. Moreover, recent studies have revealed a growing trend of mystery miners processing the BCH and BTC networks at the same time as these firms have been running undercover mining operations in China.
Also read: China Releases New Crypto Rankings
Major Crypto Firms Consider Creating Scammer Blacklist
Major cryptocurrency trading firms have had about enough of the ongoing scams and hacks that are all-too-frequent in the young industry. According to a recent report by Bloomberg, firms including DRW Holdings’ crypto unit, Mike Novogratz’s Galaxy Digital (TSXV:GLXY), and Ripple got together in Chicago this week to discuss building a blacklist of groups “known […]
SludgeFeed
Pakistan Introducing Regulations, Licensing Scheme for Crypto Firms
The government of Pakistan is putting in place regulations that will see digital currency firms licensed to combat illicit uses of the technology.
CoinDesk
Numerai Token Sale Raises $11 Million From VC Firms Paradigm, Placeholder
Hedge fund and predictions market startup Numerai just closed an $ 11 million round led by Paradigm and Placeholder.
CoinDesk
Judge Appoints 2 Law Firms to Represent Quadrigacx Clients
Two law firms have been appointed to represent the clients of insolvent Canadian crypto exchange Quadrigacx in court. The number of affected users has been estimated at approximately 115,000 and lawyers will have to contact as many as they can. The digital asset trading platform owes them approximately $ 190 million.
Also read: Hacked NZ Exchange Cryptopia Allowed to Reopen
Miller Thomson, Cox & Palmer to Reach Affected Users
Nova Scotia Supreme Court Justice Michael Wood issued a decision on Tuesday, Feb. 19, announcing the appointment of Toronto-based Miller Thomson and Cox & Palmer from Halifax as representatives of Quadrigacx’s clients. Both firms have extensive experience with insolvency cases, Wood said, quoted by the Canadian Press. He added that Miller Thomson has cryptocurrency-related expertise as well.
South Korean Capital’s $1 Billion Startup Fund Will Include Blockchain Firms
The Seoul Metropolitan Government has committed over $ 1 billion to invest in innovative startups by 2022, including blockchain firms.
CoinDesk
Crypto Firms Flock to Estonia: Is the Country’s E-Residency Program a Giant Loophole for Money-Laundering?
Estonia’s e-Residency program allows location-independent non-citizens and firms to access services such as banking digitally. Cryptocurrency firms have particularly embraced the program warmly with around 600 of them estimated to be registered there currently. Consequently, the Estonian central bank deputy governor, Madis Muller, says the program poses a money-laundering risk In quotes reported by Reuters, the central bank chief stated: There is a money laundering risk with cryptocurrency operators. We have made it too easy for these crypto operators now. They get a reputational benefit from their link to Estonia. We get the reputational risk. Empowering Estonian Police to Investigate
Invesco Bullish on China as US Firms Blame Trade War for Revenue Woes
Investment management firm Invesco has suggested that opportunities exist in China despite the earnings warnings that U.S multinationals have issued in response to the ongoing trade war. Speaking to CNBC, Invesco’s chief global market strategist, Kristina Hooper, stated that U.S. companies have “overly blamed China” for revenue declines: There’s a lot of fear around China.
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Crypto Firms Speak out Against Critical McKinsey Report
Consulting giant McKinsey & Co recently published a report on the state of the blockchain industry, claiming that while crypto technology has potential, it has been unable to break away from the early “pioneer” phase with most use cases failing to take off. The Report: ‘Blockchain’s Occam Problem’ The report is not entirely critical, stating … Continued
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Did Google Blacklist Ethereum Ads? Crypto Firms Report Issues
Earlier this week, an Ethereum startup in Serbia discovered that its advertisements on Google were not being shown in certain regions. As the company investigated the case further, it found out that the keyword “Ethereum” has been completely banned on Google Ads and is not served to users on the platform. Why are Companies Having
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Thai Finance Ministry Awards Licenses to 4 Crypto Firms, Rejects 2
Thailand’s Ministry of Finance has granted digital asset business licenses to four crypto firms, while rejecting two others.
CoinDesk
Why Big Crypto Firms Like ShapeShift & ConsenSys Laid Off Many Employees
This week, a major crypto exchange ShapeShift was forced to lay off 30 percent of the company’s workforce, letting go 37 employees. In a letter to the company and to the users on the platform, ShapeShift founder and CEO Erik Voorhees said that the crypto winter had left the firm with no other viable choice
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Algo Capital to invest $100M in promising firms created on Algorand Platform
Blockchain-centered venture capital group Algo Capital has launched a $ 100 million fund to invest and manage considerable capital in rising disruptors built on the Algorand decentralized platform over the course of next 10 years, according to a press release CoinReport received from Wachsman, Algo C…
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UK Regulators Probe 18 Crypto Firms for Fraud and Illegal Operations
Over a dozen firms in the cryptocurrency sector are under investigation by UK’s financial regulator, reports the Financial Times. According to the business publication, the Financial Conduct Authority (FCA) disclosed on Sunday that 18 companies were being investigated over their involvement in selling cryptocurrencies. Additionally, alerts and warnings had been sent to another dozen or … Continued
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Crypto Firms Merge to Build Software for Institutional Investors
In a bid to provide services for institutional investors, investor tools provider Picks & Shovels is merging with crypto accounting startup CoinVantage.
CoinDesk
Binance Extends Support For Larger Trading Firms With New Sub-Account Feature
Binance has released what it describes as a “long-awaited” feature on its exchange, sub-accounts. Sub-accounts will be accounts that do not have full control over the assets in the trading account – ideal for trading firms who are looking to get into cryptocurrency and firms that are already trading in cryptocurrency with multiple desks. At
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GDPR Uncertainty a Key Concern of 74% of Blockchain Firms in the UK: Report
Regulatory uncertainty in Britain’s blockchain sector has emerged as one of the biggest concerns for distributed ledger technology firms in the country. According to research conducted by digital innovation agency Digital Catapult, 74% of blockchain firms in the United Kingdom cited regulatory issues as being one of their key concerns, surpassing other issues such as
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R3, GuildOne to offer DLTs to global petroleum firms on Amazon Web Services
Calgary, Alberta, Canada-headquartered advanced data solutions and business intelligence provider GuildOne Inc. announced in a press release CoinReport received the provision of blockchain/distributed ledger technologies (DLTs) to worldwide oil and gas firms leveraging Amazon Web Services (AWS). Gui…
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