Bitcoin

The San Francisco-based cryptocurrency exchange and brokerage service Coinbase announced on Tuesday that it had raised $300 million in series E equity funding. This latest round confirms Coinbase’s status as the largest cryptocurrency organization of its kind , bringing its market valuation up to $8 billion. Also read:  Bitstamp Confirms Acquisition by South Korean Company Coinbase Raises More Funds in Order to Expand Global Efforts Coinbase has raised more money this month after raising $100 million in August in a series D funding round. The company announced on Oct. 30 that the corporation has secured another $300 million from various venture capital investors. The companies who participated in the series E round include Polychain Capital, Y Combinator Continuity, Wellington Management, and Andreessen Horowitz. According to the company’s blog post, Tiger Global Management led the latest Coinbase investment round. “We’re pleased to announce that Coinbase will add an addition...

Russia’s Federal Financial Monitoring Service has revealed that it will regulate cryptocurrency-related transactions in the country, with a senior official saying that the agency will also oversee the broader cryptocurrency industry, in accordance with recommendations issued by the Financial Action Task Force (FATF). Also read: Ukraine Plans to Fully Legalize Cryptocurrencies Within Three Years Rosfinmonitoring to License Exchanges and ICO Platforms Rosfinmonitoring , as the regulator is known in Russia, plans to register, license and monitor cryptocurrency exchanges, crowdfunding platforms and providers of wallet services for digital assets, Russian media outlets have reported. Pavel Livadny, the agency’s deputy director, said that all states participating in the FATF are expected to amend their legislation to introduce registration and licensing regimes for companies that trade cryptocurrencies and launch initial coin offerings (ICOs). The intergovernmental organization, origin...

The Cyberspace Administration of China (CAC) has announced that it will accept public feedback through Nov. 2 on draft rules it recently published to regulate blockchain projects, but the proposed legislation has already drawn a mixed response from distributed ledger technology (DLT) analysts. Also Read:  Bitstamp Confirms Acquisition by South Korean Company Strict Rules for DLT Users The CAC said it has designed the proposed rules to uphold national security and protect the interests of companies and the general public, while facilitating the development of the blockchain industry. The guidelines require real-name registration for all DLT users and obligate all blockchain companies in China to store user data for government inspection for periods of up to six months. “Blockchain-based service providers should work with the authorities to carry out supervision and inspection, and provide the necessary data and technical assistance,” the CAC said in the document. The reg...

Coincheck reported a pre-tax loss of 588 million yen (US $5.3 million) for the third quarter of 2018, the Japanese exchange’s second consecutive quarterly loss since hackers pilfered $530 million in January. That’s an increased deficit of 130 percent from the 259 million yen ($2.3 million) loss the previous quarter. Also Read:  French Business School Fees in Bitcoin For Blockchain Technology Courses Coincheck Remains Optimistic After Surviving a Multi-Million-Dollar Hack Coincheck’s revenue for the period July to September plunged 66.5 percent to 315 million yen ($2.8 million) from $8.4 million the previous quarter, as the exchange battled to regain public trust. Attributable net loss widened 111 percent to $3.6 million during the review quarter, as total group net profit came in at $4.9 million, down 118 percent from $10.7 million in the quarter prior. Coincheck, acquired  by Tokyo-based securities firm Monex Group in April for $40 million, said that it retained some 1....