BitLicense / 7:10 pm

New York Regulators Have Granted Their 14th Crypto License

The New York State Department of Financial Services (DFS) has just issued a new BitLicense to the New York Digital Investment Group (NYDIG), allowing it to offer crypto-related services in the Empire State. According to a press release Wednesday, DFS has granted its virtual currency license to the company, allowing NYDIG to offer liquidity and […]

Accounts / 6:52 am

Bank of America Patent Details How Enterprises Could Store Crypto

A patent awarded to the Bank of America outlines how enterprise-level institutions may be able to store cryptocurrencies owned by their customers. The filing, awarded by the U.S. Patent and Trademark Office Tuesday, contends that large companies – specifically enterprise-level institutions – may want to store cryptocurrencies for customers should they see wider adoption. There is […]

Business News / 10:44 pm

Court Takes Control of Funds Amid Crypto Exchange’s Banking Dispute

https://www.shutterstock.com/image-photo/toronto-ontario-canada-june-18-2017-663012397?src=Y-JwD4rTdS1cvlRBjorm4w-1-2A Canadian court is taking charge of $26 million CAD claimed by crypto exchange QuadrigaCX due to a dispute over the funds’ provenance. Judge Glenn Hainey of the Ontario Superior Court of Justice granted the Canadian Imperial Bank of Commerce (CIBC) an interpleader order on Nov. 9, allowing the court to take control of the funds until […]

BP / 4:31 pm

Shell, BP Back Blockchain Platform to Modernize Commodities Trading

Oil industry giants Shell and BP are among a group of firms planning to launch a blockchain platform to automate post-trade processes in the energy industry by the end of 2018. VAKT Global, the consortium building the platform, revealed the news at a digital commodities summit hosted by S&P Global Platts on Monday. The effort effectively […]

Business News / 2:27 pm

GMO Reports $5.6 Million Q3 Loss on Crypto Mining Business

Japanese IT giant GMO has reported a loss of 640 million yen (about $5.6 million) for its cryptocurrency mining business in the third quarter of 2018. Revealed in the firm’s latest financial report, published Monday, that figure is markedly worse than its Q2 loss of 360 million yen (around $3.2 million). GMO put the drop […]

Blockchain Patents / 6:15 am

IBM Says Blockchain Can Power ‘Open Scientific Research’ in New Patent Filing

A patent application published Thursday claims the process of conducting scientific research can benefit from the blockchain. Led by a team at IBM’s Watson Research Center, the patent application presents a vision for dynamic collaboration – one where researchers can track their work across institutional borders. It’s another non-financial application of the distributed-ledger technology, which IBM […]

Bitfinex / 7:18 pm

For Bitfinex Users, Dollar Withdrawals Are Now a Weeks-Long Struggle

Three weeks after being assured that everything was running smoothly, some customers of cryptocurrency exchange Bitfinex are wondering why they still can’t withdraw their money. On Oct. 15, the cryptocurrency exchange published an announcement saying, “all cryptocurrency and fiat withdrawals are, and have been, processing as usual without the slightest interference.” It continued, for emphasis, “all […]

Business News / 1:07 pm

IBM, Seagate Team Up to Tackle Hard Drive Fakes With Blockchain

Global tech giant IBM is partnering with hardware manufacturer Seagate to ensure that computer hard drives are authentic using blockchain tech. The companies announced Tuesday that they would be logging Seagate-produced drives on the IBM Blockchain Platform to block counterfeits from being utilized in data servers or otherwise distributed to end users expecting genuine products. […]

BitStamp / 7:54 am

Crypto Exchanges Must ‘Grow or Die,’ Says Exec at Fintech Firm Cinnober

A financial technology company that was founded a full decade before the bitcoin white paper came out is looking to help today’s cryptocurrency trading platforms mature. Cinnober, based in Stockholm, mainly provides tech solutions to traditional stock and commodity exchanges around the world. But this year it’s struck a handful of deals with crypto startups […]

Banking / 5:51 am

Canadian Bank Opens Deposit Box for Cryptocurrency Firms

A Canadian bank says its digital safety deposit box is ready for prime time. VersaBank announced Thursday that its new VersaVault project had successfully completed beta testing. The digital-only bank plans to offer the virtual lockbox to cryptocurrency exchanges and crypto investment funds to store digital assets. Director of investor relations Wade MacBain told CoinDesk that […]