Showing posts with label Featured Startups. Show all posts
Showing posts with label Featured Startups. Show all posts

After Being Banned Since 2018, Google Allows Crypto Companies To Advertise Again...

Google Allows Crypto Companies To Advertise Again

After a wave of scams and poorly executed ICO's used Google ads to draw investors in during the crypto craze of 2017, Google faced criticism from users who lost money after investing in ICOs they found via these ads.

Instead of taking the liability of evaluating each project for approval or disapproval, Google decided to simply ban all crypto related advertising.

But in an update made yesterday to Google's financial services policies - the advertising of products and services related to bitcoin and other cryptocurrencies is allowed, as long as certain requirements are met.

According to Google's support page on the topic, advertisers who offer exchange services or cryptocurrency wallets in the United States, can now be promoted on the platform.

But Crypto Advertisers Will Be Required To Take Some Additional Steps...

Applicants must be duly registered with the Financial Crimes Control Office (FinCEN) as a regulated financial services company, supported by a money transmitting State, or a bank authorized by the federal government or some state authority in the U.S.

This means only services that comply with FinCEN rules, and enforce KYC "know your customer" policies.

Only then can a company apply with Google, which can still choose to deny access.

It's safe to assume that ICO, IEOs, or any method of selling newly launching tokens will remain banned. 

Big Spending Is Expected...

Companies like Coinbase, Binance US, and FTX are currently battling for crypto traders in the US market.

These companies should easily meet Google's qualifications and are expected to use the platform as a tool in this heated competition. 

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Author: Fernando Perez
Latin America Newsdesk

As DeFi Funds Disappear, Crypto Community Learns, AGAIN - 'Anonymous' Founded Projects Bring Increased Risk...

Money disappearing
"Yfdexf.Finance" clearly named to resemble the highly successful Yearn.Finance, has suddenly disappeared carrying $20 million from users who hoped it would be the next big thing in DeFi.

The 'liquid mining protocol' spread fast by turning traders into promoters - promising rewards for retweets and shares.

Blinded by the potential for high returns achieved by so many recent DeFi projects, people aren't thinking before investing like they normally would - waiting just one or two days to properly research something is long enough to 'miss the boat' in the fast moving world of DeFi.

Disappearing along with the victims funds is the project's website, social media accounts, their blog on Medium, and every trace that they ever existed.

So - who's to blame? Nobody knows!

Like ICO's at one point - DeFi has reached that phase where "lets give $20 million to strangers on the internet" doesn't immediately sound insane...

Even some 'legitimate' projects have discovered issues.

Scammers with bad intentions aren't always behind a projects failure  it could be as simple as code errors as some legitimate projects learned. This happened with 'Hegic' which froze everyone's funds because of a typo. This happened early with only a few thousand invested.

But investors had put $750,000+ into another platform called 'YAM' before bad code that minted excessive tokens in the YAM reservation contract was discovered. The project was a roller coaster as YAM went from $0 to $138 and back to $0 in a matter of days.

Then, earlier this week accusations were made against Swerve (SWRV) claiming that code in the smart contract gave it's anonymous creator the power to pause everything . Swerve promises interest upwards of 250% and now holds over $500 million USD in it's smart contract.

Decentralized Governance argument...

The case the creators of these platforms will make is that they don't matter, because they aren't in control. Token holders vote on what happens next, and majority rule - "Decentralized Governance" has taken the place of the traditional 'team' behind a project.

The problem is, the creators always reserve a chunk of tokens for themselves, they make sure if it's a success they will rewarded, usually generously.

The question the community needs to decide is - can they be both unaccountable for anything that happens after launch, and financially rewarded as long as people continue to use their creation?

Is the deal too good? Anonymous DeFi projects creators get to position themselves to profit if successful, but face no consequences for failure, even if they are the reason for it's failure because something like an error in the smart contract's coding.

A lesson learned, again...

This exact thing happened in the days of ICOs, and eventually people learned not to invest in anonymously founded ICOs.  Human nature says it's a bad idea to give millions of dollars to anything where no one is accountable for what happens next.

Does it mean every anonymous DeFi project is bad? Absolutely not.

It does mean we need to remember something we already knew - you're taking a much larger risk investing in anything that hides the names of those behind it.

It sounds so obvious, but there's hundreds of millions of dollars on the move that indicate many have forgotten this.

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Mark Pippen
London Newsroom / Global Crypto Press News

TNC Coin Enters the Market with Massive Bullish Price Movement...

TNC Coin
TNC Coin (TNC) joined the cryptocurrency market with a blast. TNC initially listed on Hotbit, one of the leading exchanges in the industry and is now experiencing bullish price movement. After listing in Hotbit on April 2 8-29, 2020, TNC Coin experienced a massive price increase of more than 7500% for the TNC/BTC pair and more than 5000% for the TNC/ETH pair. TNC was featured in Hotbit’s Top Rising section because of this increase.

For typical listing events, crypto projects experience a drop in price as token holders sell their assets as soon as the listing commences. This may be because of the ICO and IEO listing process that crypto projects employ. As a result, massive price drops happen right after their project lists. However, as seen on Hotbit, this is not the case with TNC Coin. Instead of a price drop, the market showed a very promising bullish movement.

The TNC listing process is different from normal listing strategies based on ICOs or IEOs. This new way of listing is an integral part of the crypto merger system formulated by TNC IT Group where they merge companies through the world’s first massive Crypto M&A.

According to the TNC Coin team, this is only the beginning. TNC Coin is expected to list in 20 more top global crypto exchanges on May 1, 2020. The token is expected to have the same value in the next exchanges as the initial listing price in Hotbit. The TNC Coin team expects more bullish movements as the coin becomes available for trading in more exchanges and more users come in to trade TNC Coins.

TNC Coin dubs itself on its official website as “The Ultimate Blockchain for the Game Industry.” It was first advertised as a blockchain dedicated to the needs of game developers where they can create their own game currency with real crypto value. This way, users can earn crypto as they play. While this was the initial plan, the TNC vision is much greater. According to the TNC Coin CEO Mr. Jason Jang, the mainnet that the TNC team will develop is “beyond what is currently available in the blockchain and crypto market as of now.” The mainnet will be scalable and ready for expansion into other industries such as finance, logistics, real estate, and more industries. As the Crypto M&A project goes further, the mainnet will be targeting different industries based on the needs of merger companies.

To celebrate TNC’s success, the TNC Coin team is also giving away 10,000,000 TNC Coins to users who want to participate in their airdrop event. The team published this airdrop event through the token project’s official website: www.tnccoin.com
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Information Provided Via Press Release
Distributed By The Crypto Press Association
Cryptocurrency & Blockchain News 2020

PlayFuel Token Lists on 8 Exchanges Before 2020...

Playfuel token aka playfuel coin exchange listing

PlayFuel
, a blockchain-based platform that aims to make a splash in the gaming world through its innovative solutions, recently got its native asset — PLF Token — listed on eight leading crypto exchanges.

Since December 26, PLF has successfully been listed on various reputable exchanges namely BW.com, STEX, Coinbene, Hotbit, Crex24, Mercatox, Bilaxy, and DigiFinex.  PLF can be traded with various pairs such as USDT, BTC, and ETH on these platforms.

Four out of eight exchanges currently hold events to celebrate PLF’s recent listing. PLF holders can take advantage of trading competitions and airdrop opportunities from BW.com, Coinbene, Bilaxy.com, and DigiFinex.

BW.com is an exchange that aims to have millions of users globally. It also provides a mining pool service to 45 countries across different regions. In celebration with the successful launch of PLF on its platform, BW will be holding a trading competition with 30,000 PLF tokens as rewards. The top 20 users with the highest total net purchase amount of PLF will be rewarded.

The competition results will be announced within 3 business days after the event, with the PLF reward distribution to be sent on users’ account within 7 business days after announcing the winners. The competition runs from January 3, 2020, 10:00 am (GMT+8) up to January 10, 2020, 12:00 pm (GMT+8).

PlayFuel also got its PLF token listed on Coinbene, one of the notable exchanges we have today. It is based in Singapore and has users to over 180 countries globally. Coinbene will launch an event that will reward its participants up to 5,000 PLF tokens.  Participants with a net-buy volume that exceeds 300 PLF will be chosen to receive prizes based on their ranking.

The contest will start from January 3, 2020, 11:00 am (GMT+8) up to January 9, 2020, 11:00 am (GMT+8). All rewards will be sent to the winners’ Coinbene account within 15 days after the event.

Bilaxy is an international blockchain exchange that provides a real-time and safe trading environment. The platform supports more than 100 cryptocurrencies and trading pairs. In partnership with PlayFuel, Bilaxy is launching a competition that will give away as much as 25,000 PLF tokens. The top 80 accounts with the highest trading volume of (buy + sell) PLF on Bilaxy will share the prize of 25,000 PLF tokens based in proportion to their trading amount in the entire duration of the event.

Rewards will be sent to the winners’ Bilaxy account within 10 days after the end of the campaign. The competition started from December 31, 2019, at 8:00 pm (UTC+9) and will be closed on January 14, 2020, at 8:30 pm (UTC+9).

Finally, Singapore-based DigiFinex supports over 100 different digital asset pairs. Together with PlayFuel, DigiFinex will throw a contest wherein 40 of its top users can win a shared prize of 30,000 PLF tokens. Any player with a minimum net purchase amount of 500 PLF will be eligible to join the competition.

PlayFuel-Digifinex contest will start from January 3, 2020, 10:00 am (GMT+8) to January 13, 2020, 10:00 am (GMT+8). DigiFinex will pick the top 40 based on their net purchase amount. All airdrop rewards will be sent to the winners’ DigiFinex account within 5 working days after the contest ends.

PLF is now also available in the following exchanges: STEX, Hotbit, Crex24, and Mercatox.

Based in Tallinn, Estonia, STEX prioritizes altcoins and initial coin offerings (ICOs) aside from providing the usual crypto trading services. Meanwhile, Hotbit is headquartered in China and Taiwan, and has over 500 trading pairs to support its users’ needs.

Moreover, Crex24 focuses on creating a platform that is friendly toward beginners and professional traders alike. It also has a multilevel security information system that secures all the users' accounts. On the other hand, Mercatox supports over 700 trading pairs and has top-level security to ensure the safety of all user's accounts in the platform.

The PlayFuel team is overwhelmed and grateful for the successful listings on these eight exchanges, as this will enable it to reach its goal of disrupting the gaming industry using blockchain technology. Through its platform, players can perform seamless transactions and earn PLF tokens while playing, whereas developers can build unique games and integrate PLF tokens in their game development.

Active gamers in the PlayFuel platform can mine PLF while they play and use the mined tokens to buy rare items, redeem exclusive goods, and trade PLF to its partner digital asset exchanges. The tokens earned by gamers in the platform can also be converted to fiat through some of the mentioned affiliate exchanges.

Through the partnership with all the exchanges, the company can broaden its coverage in providing gamers, developers, investors, and PLF token holders around the world a secure and stable gaming platform.

Playfuel Official Channels:
Twitter: https://twitter.com/playfuelteam/
Facebook: https://www.facebook.com/playfuelteam/
Telegram:https://t.me/playfuelteam/
Linkedin: https://www.linkedin.com/company/playfuelteam/


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Information Provided via Press Release
Distributed by Global Crypto Press Association Press Release Distribution for industry.



The Story Of Level01 - Through The Eyes Of Co-Founder Adam Ooi...

Level01 is one of the few Blockchain projects that has remained in the limelight despite the slowdown and poor take-ups of many ICOs throughout 2018 till now.

Not only did they manage to list their smart token LVX on 2 top crypto exchanges, DigiFinex and P2PB2B, the steady prices and active trading speaks volume on the confidence that crypto investors have for them.

Level01 has laid claim to be a pioneer in decentralized and AI-guided derivatives trading, with a vision to bring you the fairest, safest and most profitable options trading platform.

Adam Ooi Presents Level01 To The Audience
We spoke to Level01 Co-Founder Adam Ooi, and he shared with us the philosophy behind Level01's approach to solving problems and making the world a better, or in his words, “fairer place”.

“If there was more to life than this, why have we not found it?

Humankind has come so far with phenomenal discoveries in biology, chemistry, physics, math, and even parapsychology.

We have everything from Einstein’s field equations to epigenetics to the beginnings of anti-gravity technology but yet we feel discontent.

What does life mean to everyone?

I believe we should never take the one-size-fits-all answer.
Rather, it should feel personal.
Purposeful.
Special.

For me, finding the meaning of life is simple.

Just go back to basics and look for what comes naturally to us. So I would say the answer to the meaning of life is “peace”.People work hard, fight hard, and strive hard to be better, smarter and more creative but at the end of the day, what do we all want in life? This is very subjective and if you were to consider everything that is going on now in life, “peace” may be last on your list.

For now, you may or may not consider my proposition, but I have vehemently explored this for the past 12 years. 

A key point to note for all of us is that balance is the condition for peace.


Our very own planet is a prime example. From the delicate balance of our ecosystem to the equilibrium of human political power, it’s all about balance.If you investigate the human condition and our relation to nature deeply enough, you will find that we have always fought for the right to be equal and have fairness in our daily lives, every time we have a yardstick for comparison.

Without means of comparison, there will be no benchmark for fairness.

In a utopian human world, this is a balance. It is as if you could make the world flat, and only then, you would deduce and declare everyone as equal.

Nonetheless, I realize that it is impossible to make everyone equal, but we now have the technology to level the playing field and may everything fairer.

The beauty of the human spirit is in its propensity to transform the world, even when it comes to something as delicate and complex as creating a fair society.

At Level01, we believe we can.

It is why our name is as such.

The word “Level” stems from the action and result of being fair and “01” represents the 0s and 1s of the digital world.

We understand that the world is not fair, but we want to strive to make it so, as much as we can, as best as we can. It won’t be perfect, but that is the beauty of life. In its own ironic and mysterious way, life always presents room for improvement, and that to me is life’s highest and most meaningful gift. 

We took that gift and transformed it through technology with a system that enables anyone, from any background to dictate and control their own financial wealth.

Here on Level01, the future is bright.“

Level01 is about to launch it’s AI-driven options trading app soon with trusted data from Thomson Reuters and they have big plans to make Level01 into an integrated financial platform for the general public in the near future.

Learn more about Level01 at https://level01.io


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Author: Oliver Redding
Seattle Newsdesk




Stable Coins - From Completely Off Their Radar, To Regulators New Obsession...

crypto stable coins
It's always been one of the most discussed topics in crypto - regulations. That's because there's virtually infinite space to speculate on what may happen, and if and when it does, odds are it will effect you for better or worse.

It was in one of these recent conversation that it suddenly hit me - "do you realize how strange it is that every coin we've mentioned so far is a stable coin!?" I said.

For years we functioned under the belief that regulators were far too distracted with coins that could be pumped and dumped, and the launch of new ones (ICOs), to divert any resources to coins that will always be worth the same amount, give or take a couple cents.

Then, just about a year ago - the Tether controversy dominated headlines. 

The 'news' was really just the rumors the crypto world had been hearing for awhile, suddenly receiving a lot of mainstream press.  The accusation being that the USD reserves that 'backed' USDT's pegged $1 value were a lot smaller than the supply of USDT floating around the market.

It turned out true, and Bitfinex resorted to some creative crowdfunding to close the gap. I'm still unsure on what the final answer to 'how did this happen' was. Bitfinex blamed corrupt bankers in corrupt countries, and the fairly large group of traders who hate them insisted that wasn't enough to explain it all.

At the time the uncertainty brought Tether's growth to a grinding halt, but they've now picked up where they left off and Tether's popularity is on the rise again, and has been for several months now.

Tether actually plans to aggressively work to increase adoption of its USDT token, recently partnering with several e-commerce organizations. The Principal Technical Director of Tether, Paolo Ardoino, says "Merchants need to have a stable currency to protect their business from the volatility of other crypto assets such as Bitcoin . Tether is being widely used by merchants and e-commerce teams, but since this is a new trend we are still collecting and evaluating the data”.

Like it never even happened.

In retrospect, it's like night and day looking back on countless people making predictions of the impending doom of Tether and Bitfinex, compared with what actually happened.

The only lesson learned - it's impossible to predict what regulators will deem worthy of 'cracking down' on.  This uncertainty has motivated investors to do what they can to play it safe whenever possible, with many deciding to transfer assets to a regulated cryptocurrency exchange instead.

Just when you thought stable coins were out of the spotlight - along comes Facebook.

With the Tether fire still smoldering but no longer a ‘hot topic’, it felt like we were ready to move on, and potentially enter a period with no major controversies.  Instead, what came next was so controversial, news outlets that never cover crypto felt the need to jump in. 

The announcement that Facebook wants to create a cryptocurrency sent politicians into a frenzy.  The timing couldn't have been worse, following a string of non-crypto related scandals.

It's a dangerous mix - lawmakers who don't understand the tech, and with the belief they're stopping an evil company from some huge power grab.

On that note, we have the first ridiculous 'solution' to be proposed - Sylvia Garcia representing Texas 29th congressional district wants to classify stable coins as a security, proposed in what she's calling the "Stable Coins Act of 2019".

The one hope we have now as an industry is that finally there's a presence in Washington of lobbyists who can hopefully educate lawmakers and help insure attacks meant to stop Facebook specifically doesn't come with massive collateral damage.

So that's where things stand today, and really, literally anything can happen from here. So I will try my best to keep all of you updated!

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Author: Ryan Stewart
Northern California News Desk


YouHodler Launches New Campaign to “Make ETH Strong Again”...

YouHodler has a growing list of cryptocurrencies listed on it’s FinTech platform that includes, BTC, ETH, XRP, XLM, LTC, BCH, DASH and much more. For a limited time, the company is focusing its efforts on one, seemingly forgotten crypto. Ethereum (ETH).

Despite what the reports say about altcoins, YouHodler still firmly believes in ETH due to;
● it's large and loyal community,
● the massive potential behind Ethereum smart contracts
● it’s hyper-talented founder, Vitalik Buterin.

With this in mind, YouHodler is launching a new, aggressive campaign that aims to “make ETH strong again.”

No fees to buy ETH on YouHodler; 50% discount on ETH-backed loans and more 

YouHodler has five attractive initiatives to revive ETH support and hopefully, bring it back to its place as the original BTC challenger. Starting now, YouHodler will offer the following five features to all platform users:

  1. No commission to buy ETH on YouHodler (available now)
  2. Special ETH loan plan with the loan to value ratio (LTV) of 90% (coming soon)
  3. “ETH Turbo 10” allows users to take up to 10 automated ETH “Turbo Loans” (coming soon)
  4. 50% discount on all ETH backed loans on YouHodler (coming late September)
  5. ETH Savings Account with 12% annual interest (coming October)

On the topic, YouHodler CEO Ilya Volkov states "We are happy to announce this limited time offer for all ETH Hodlers and traders on our platform. We truly believe in the power and potential of Ethereum and Vitalik Buterin. Everything from Ethereum smart contracts to dApp development is a huge inspiration to our team and with these promotions in place, hope to ignite an Ethereum rally and make ETH strong again.”

What happened to Ethereum (ETH) and why is it suffering?


Aside from the massive 2017 bull run the entire crypto market experienced, ETH had other eras of brilliance. January 2018, for example, was a good time for ETH hodlers but since then, we’ve watched the gradual (and sometimes rapid) decline of this once-promising crypto. So what happened?

Some analysts say the lack of performance from Ethereum comes from the decrease of initial coin offerings (ICOs) issued from the platform. This was once a top reason for one to purchase ETH and the price reflects that during the “ICO boom” of 2017 and 2018. Yet, with tough restrictions from regulatory bodies on ICO’s, Ethereum is looking to find its footing in a new industry. Thankfully, Ethereum bulls have hope.

Majority of ETH community believes the price will bound back to $1,000

Recently, crypto analysts, Nik Patel posted a poll on his Twitter feed asking the crypto universe if they think ETH will ever trade above $1,000 again. Out of the 5,410 votes, 54% said yes, while 34% said no. Aside from that, other analysts are starting to promote Ethereum’s rally against Bitcoin in the near future, citing that the ETH/BTC chart currently resembles that chart before 2017’s takeoff.

Helping to draw attention to this news is YouHodler, which is advertising the aforementioned features on an international scale. YouHodler states all comments and inquiries about their “Make ETH Strong Again Campaign” should be redirected to their Telegram, Twitter or support (support@youhodler.com) channels.

To take advantage of these limited time promotions and help support ETH, go to YouHodler.com today and sign up.

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Information Provided via Press Release
Distributed by Global Crypto Press Association Press Release Distribution for industry.



CEO Of Soon-To-Launch ‘WOWX’ Exchange Shares Big News - They’re Licensed, Ready, and Celebrating w/ Airdrop!

As crypto exchanges face intense regulatory scrutiny from government authorities around the world and rising FUD (Fear, Uncertainty and Doubt) from exit scams and closures, a new crypto exchange stands out.

We meet the CEO of Estonia’s latest crypto exchange, WOWX, providing multijurisdictional compliant Virtual Currency Exchange and Virtual Currency Wallet for crypto traders in precarious times. Given the global upheaval in crypto exchanges, observers see big prospects for WOWX Exchange who is already ahead of the game by being fully licensed, registered and compliant to Estonia’s famously strict anti-money laundering regulation, KYC compliance, and adherence to the European Union’s multi-level laws, even before their launch. But with so many crypto exchanges into the world, we were curious to see how WOWX would differentiate themselves aside from being a licensed crypto exchange.

In his private office, 26-year-old Chow Pak Teng (a.k.a Pak) greets us in a suit jacket and invites us to sit on the couch to begin this interview. Pak is the CEO of WOWX and BlockSpace Asia. He was not always a blockchain expert in a sharp suit. His first job after business school was in internationally renowned hotels and resorts. But a series of interesting events lead him to become a passionate blockchain expert, advocate, entrepreneur and leading figure in Asia’s blockchain scene.

Tell us a little about your background, and what drives you today, Pak. 

I’m a problem solver at heart, if there’s something wrong that needs to be right, I’ll damn sure make it right. Kind of like a superhero.

I graduated from business school and focused on hospitality and tourism management. I had a short stint of working at internationally renowned hotels and resorts. But I was never meant to go down that path. I first came into the tech world back in 2015 and started a Social Media Application called Jibber when I was 23. Jibber was funded by SPRING Singapore under the ACE startup program. The app garnered over 10,000 users in just 6 months but I had to close down the project as the servers often crashed without backup and we were burning through money that we didn’t have at the time.

So I then entered the mobile gaming industry to perform user acquisitions for new mobile games. My team and I successfully growth-hacked and took new games to the top of the App Store charts within days. The company and value chain grew and eventually we took the company public in the USA with over $420 million in market cap. The group built an ecosystem of IoT, Big Data, Blockchain and E-commerce for a digital revolution that provides tools for users to live and interact in a modern mobile world.

In 2016, we saw the need to educate the masses on crypto and blockchain as the hype bubble was getting out of hand. BlockSpace Asia was conceived and we were holding monthly events to educate retail investors and businesses on how they can utilize the blockchain to position themselves in 2019, just as how Jack Ma and Jeff Bezos used the Internet to position themselves in 1999. I guess considering how we were educating and advocating Blockchain as early as 2016, places us as Blockchain pioneers in Asia.


What would you say are your three greatest achievements?

There was a time when I led a team of over 1,000 sales affiliates across Singapore, Malaysia, Thailand, China, Taiwan, the Philippines, and Indonesia.  It was thrilling to lead an international team. My next greatest achievement was when Blockspace Asia’s inaugural event launched with over 40 speakers and 700 attendees present. And my best milestone, I’d say, is having the opportunity to pioneer the blockchain industry in various ways in the last one and a half years.

How did you get into crypto?

I first heard about bitcoin in 2010, when a friend was celebrating his bitcoin investment at $25! Having little money and knowing little about digital money, I skipped the opportunity and life went on.  Fast forward to 2016, another friend convinced me to throw him $5,000 for cloud mining as it was the easiest money one could benefit from, knowing little but seeing how he already profited, I jumped on board knowing I had little to lose. Thank god for that because I had so much to gain! That’s how I jumped down the crypto rabbit hole, the profits from crypto investment got my attention, but I had nothing yet on what the technology could provide.
As mining grew more profitable, I started to explore more avenues on how one could profit from crypto. I explored buying upcoming ICOs, arbitraging on exchanges, and joining various community projects. Later, I went on to start an educational company, Blockspace Asia, to conduct Blockchain and Crypto 101 classes for the public. We created niche industry events for small to medium-sized enterprise owners from various industries to help them understand how the blockchain functions from a technology standpoint and how they can benefit from it.

When did you first have the idea to build WOWX?

I had the idea when I first dived into the crypto market. My friends and I were not trained as traders or analysts, so drawing Technical Analysis and Financial Analysis charts was not our forte.  We were buying hype coins because that was what everyone was doing.  Those early days were invaluable because it provided us with the experience and expertise we have today.

We noticed that most stock or crypto exchanges would cater to only 5% of the world’s population as their target audience. So if we could create a platform that allows 95% of the world to take part, that’s much more exciting, and it will enable mass adoption of cryptocurrency. That is, in fact, revolutionary - similar to what Alibaba did with Ant Financial, by allowing the average consumer to be involved in the financial world by providing simple tools for everyone to invest or be insured.
Our goal at WOWX isn’t to take make a lot of money from a few people, but to earn a little bit of money from a lot of people. Referencing to Ant Financial, that’s what they did and that’s why they are the financial and tech powerhouse of this day and age.

So that’s where the idea started, we wanted to create a platform to allow the average consumer to be involved in the crypto world by connecting them through tools that they are familiar with, like the smart card for 2FA (it works like traditional bank tokens) or an RFID chip on the card to enable visa or MasterCard payments.

With many news reports on crypto exchange closures or founders disappearing with customers’ funds, it became imperative for us to have an internationally compliant legal status. As difficult as it was, we researched, explored and contacted many different authorities from various countries to make trading legal and transparent on our exchange.  This is the reason why we registered and licensed WOWX in Estonia, one of the most advanced crypto regulators in the world.  Estonia was one of the first jurisdictions in the European Union (EU) to legalize crypto-related activities, so this gives us a head start in understanding and regulating crypto entities better than anywhere else in the world. Crypto entities registered in Estonia are legally operating in the EU, of which the country is a member state, and licensees are obliged to comply with relevant local and European laws. This means that WOWX is recognized in Europe as a legal digital asset exchange.


The exchange space is becoming crowded and competitive: what do you think will help set WOWX apart from the rest?

I think a great user experience is important. Apart from building an amazing trading interface and secure system, my team and I work hard to prioritize as well as provide our users' as much value as possible through competitive listing fees up, low trading fees up to zero, unique referral program and ease of use through smart cards for spending your cryptos. We also formed WOWX Academy, with the primary objective of educating people how to value and trade cryptocurrency based on solid fundamentals, instead of relying on rumours and hype out there that are typically peddled by the so-called pump and dump syndicates or people with massive holdings.

To take the user experience up to another notch, we built the WOWX ecosystem to continually reward the community through strong compensation for referrals and high incentives for holding WOWX tokens. This means that even if you do not actively trade on WOWX, you will earn money when you refer your friends, and if a friend happens to trade more than you do, you also earn money because they are active traders. This is part of our unique 2-level referral program which incorporates the best features of affiliate marketing.

On top of that, users get top notch security and trading fees that are as low as 0%. Another big reward is that users get to spend their crypto directly on merchants through our smart cards. All these features will attract new users and grow the WOWX community.

Major exchanges like Binance are venturing into decentralized exchanges, why does WOWX choose to be a centralized exchange; do you see this as a winning strategy?

We see the advantages in Decentralized Exchanges (DEX) but it is still in its early stages, and its key struggles are notably: liquidity, volume, and usability. To some people, accountability. For them, it is important to be able to hold someone accountable for any issues or problems with their accounts or trades and DEX is lacking in this area.

Our goal for WOWX is to create a platform that enables mainstream adoption of crypto by allowing users to buy or sell crypto easily, conveniently and quickly. Having centralized measures at the start means we can push forward with faster user adoption and better control in terms of security and meeting regulatory requirements.


The WOWX whitepaper mentioned better regulation is better enabled through centralized parties – how are you working with policymakers?

We stay connected with the local regulators wherever we are operating. A day in crypto is like a month or year in traditional finance, and we have seen many crypto businesses being put out of business by regulators with just a snap of a finger. That is why crypto investors should be cautious when trading on unregulated crypto exchanges. It’s not just about meeting the requirements of the authorities, it’s also making sure that you are not sabotaging your wealth by trading in an unregulated crypto exchange that could be involved with unregistered traders that may be money launderers.
It is extremely important that WOWX complies with the regulators in every aspect of the business.  We are here to stay for the long run.

Government regulators will prevent or punish bad actors in the industry, and with proper regulation, there is a strong chance that crypto will be coming to the mainstream market. This will not be in terms of its usual speculative hype, rather it will come in a form that will truly change and enhance the way that we live in the digital world.

Where do you see WOWX in 5 years?

Since our inception, we remain very clear of our goal of being one of the Top 10 Exchanges in the world in 2 years. Of course, we will grow from Asia first, then Europe and eventually expand to the rest of the world. In 5 years, you will see WOWX as a local exchange in every single corner of the world. More importantly, to offer a crypto exchange that truly prioritizes it’s users and enables mass adoption for cryptocurrency.

WOWX Exchange will be going live soon. Look out for their exciting pre-launch airdrop. Click here to receive FREE WOWX token, http://gowowx.exchange

Follow these channels below for the latest updates:
Telegram: https://t.me/WOWXToken
Facebook: https://www.facebook.com/wowxtoken
Twitter: https://twitter.com/WOWXToken
Web: http://wowx.io

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Author: Charles Wong
Contributor


All-in-One Cryptocurrency Resource: Cryptolinks...

The Global Crypto Press is excited to be among the resources featured at Cryptolinks! We asked them to introduce themselves to our readers, and share what they're building with you!

Knowledge is power. To navigate the cryptocurrency market, information and knowledge are key. Access to the best information is critical to make the best use of this emerging financial system and to make the best investment decisions.

Markets revolve around information. 

A rumour or leak of information can cause cryptocurrency prices to move massively. Being able to identify a valuable asset before others do also requires you to know the right information. But this information can be hard to compile together, with many different sources and websites. More and more individuals and businesses are entering the cryptocurrency, making it more difficult over time to keep up.

To help you stay on top of the latest developments, we will present a review of the Cryptolinks website, an all-in-one cryptocurrency resource that provides you with all of the information you need to know.

Introducing Cryptolinks

Cryptolinks acts as a hub for information on everything cryptocurrency. To help you steer through the cryptocurrency market, cryptolinks provides resources on everything a cryptocurrency enthusiast would need. Cryptolinks is a portal to access the latest news, the best cryptocurrency websites, exchanges, and wallets, as well as other information you need to buy, sell and use cryptocurrency.

By putting everything in one place, Cryptolinks makes it easier for cryptocurrency enthusiasts, newbies and veterans alike. Every question you can think of is most likely covered by Cryptolinks’ resources. One of the great things about cryptolinks is that it is free of any advertisements. That means you can be sure that the website is not promoting cryptocurrency services that have paid for good exposure. Instead, the website relies on donations in various cryptocurrencies. Most adverts related to cryptocurrency try to entice people into scams and can cause reputational damage. For example, some of the major cryptocurrency news sites have been criticised for accepting money from scams such as BitConnect and allowing these types of projects to advertise on their websites. With Cryptolinks, however, you can be certain that they are unbiased and have no hidden agenda.

Another advantage of cryptolinks is that it is freely accessible. Think of it as a directory for cryptocurrency services, covering all of the essential areas of the cryptocurrency industry so
that someone new to the scene can easily find the best and most popular services they need. Different services are categorised by lists, with one for cryptocurrency exchanges, one for news sites, one for wallets, one for social media channels, and much more.

Want to Buy or Sell Crypto? Cryptolinks Has Got You Covered

One of the first things people want to know is how to buy and sell cryptocurrency. The Cryptocurrency Exchange list on Cryptolinks points people to the most popular exchanges, such as Binance, Coinbase and BitMEX.

There is also another portal that directs people to peer-to-peer cryptocurrency exchanges, such as LocalBitcoins, which is vital if you want to retain some of your privacy. Another relevant list for those looking to buy cryptocurrency is ‘Cryptocurrency Charts’, which details all of the websites where you can chart the prices of cryptocurrency and use technical analysis to make trades or investments.

Get the Latest Headlines on Crypto through Cryptolinks

As a fast-changing and ever evolving market, it is imperative to keep on top of the latest developments, whether that be the latest exchange hack, a new cryptocurrency project, or a long-anticipated upgrade for Bitcoin. Cryptolinks provides links to all of the reputable cryptocurrency news sites.

There are five portals of interest in this category; firstly, there is the ‘Cryptocurrency News’, which lays out all of the best news websites and are ordered by popularity. Secondly, there is ‘Cryptocurrency Magazines’, which are media websites that provide a mix of cryptocurrency fun and education, such as Bitcoin Magazine.

Thirdly, there is ‘Crypto News Aggregators’ which details the websites that compile news stories and commentaries from different sources in one place. Fourth, the cryptocurrency calendar list provides some resources that highlight important events for the cryptocurrency ecosystem. For example, CoinMarketCal provides a calendar of all of the important events and updates for different cryptocurrencies, with examples such as bitcoin’s block reward halving, the launch of an initial coin offering or events where projects will make an announcement.

Resources for Crypto Investors

Even for the most seasoned crypto investors, Cryptolinks offers value. For example, there is a list that details all of the cryptocurrency statistics sites, which are invaluable for research. The ‘coin tracking’ portal helps investors to track their portfolio more efficiently, while the ‘Upcoming ICOs’ list outlines all of the best websites to keep on top of initial coin offerings so that they can have an outlook for new cryptocurrency projects that are looking for funding. Furthermore, another relevant list to investors is the ‘Bitcoin Futures’ portal showing you the best platforms to trade bitcoin derivatives, such as eToro. With resources on crypto exchange data, crypto trading bots, and altcoin exchanges, crypto investors and traders have a comprehensive resource at their fingertips.

Where to Store and Spend my Bitcoins?

Alright, so you’ve bought some bitcoins or you’ve started trading and made some money. The next question on your mind is “Where can I spend/store my bitcoins?”. Well, with Cryptolinks, you can find the most reliable way to store your cryptocurrency as well as merchants to spend your bits with.

For instance, the ‘Buy with Bitcoin’ register outlines the top merchants where you can spend bitcoin, including CheapAir.com, which allows you to book flights with cryptocurrency, Purse - a company that allows you to use crypto to buy things off Amazon, and Bitrefill, which allows you to buy mobile credit, gift cards and much more with bitcoin. There is even a ‘bitcoin charity’ list which allows you to quickly find the good causes you can donate to with cryptocurrency.

There is also ‘Cryptocurrency Debit Cards’ which shows you ways to use your bitcoin to make purchases with debit cards. With regards to storing your bitcoin or altcoins, Cryptolinks also educates users on different wallets you can use. For instance, there are several portals that outline hardware wallets such as Trezor, web wallets, desktop wallets, paper wallets and wallets for particular operating systems, like Android or iOS.

Get Connected with the Cryptocurrency Community

Cryptolinks makes it easy to find the best content on social media relating to cryptocurrency and material from thought leaders and experts in the space. There are separate registers for each social media platform, i.e., one for Reddit, one for Twitter, one for YouTube and so on. There is also a catalogue of bitcoin podcasts, forums, documentaries, books and Ted Talks. If you want to go out and meet people, you can use ‘Blockchain Events’ to see where the next event is taking place near you.

For anyone who wants to take a deep dive into cryptocurrency and learn something new, there is plenty on offer at Cryptolinks. Trying to find all of these resources on your own would be a big task and the convenience of having them all in one place is what makes Cryptolinks so great.

Conclusion

Whether you are a newbie or veteran in the cryptocurrency scene, Cryptolinks offers something for everyone. Overall, it is structured in a decent way and contains a lot of detailed information on different aspects of crypto. Cryptolinks can be said to be something like the Yellow Pages of the cryptocurrency industry, allowing you to find any service that is remotely related to cryptocurrency and saving you a lot of time in the process.

Visit https://cryptolinks.com

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Nate Urbas
Cryptolinks




ADN Coin Already Listed in BitForex, CoinBene is Next...

ADN Coin is already listed in BitForex and will get listed in Coinbene soon. The recently- launched blockchain project got listed in BitForex on June 9, 2019. The team announced that they will be listed in at least six other exchanges after fifteen days. As reported previously, ADN Coin Chief Executive Officer Mr. Ron Lim confirmed that they will be listing in more exchanges in the near future.

BitForex Listing and Event Announcement

BitForex, according to many of its users, is the world’s leading digital assets trading platform dedicated to providing users with safe, professional and convenient digital currency trading services. The company is headquartered in Singapore, registered in the Republic of Seychelles, and has independent operating teams in Germany, Estonia, Hong Kong, Malaysia, the Philippines and other countries and regions. It currently has users from more than 86 countries.

BitForex is arguably a great start for ADN Coin when it comes to listing. To make things even more interesting for the users, BitForex will be doing an event for ADN Coin. For details, it will be announced soon on official ADN Coin and BitForex channels.

CoinBene Listing is Next

CoinBene exchange dubs itself as “The World's Leading Trustworthy Crypto Assets Platform”. The exchange is open to users around the world and offers several different languages, making it possible for users to set the website in a language that they are fluent in. The default language is Chinese, but you can also change the website to English, Portuguese, Vietnamese, Malay, Spanish, or Korean.

A Powerful ICO Security Platform

ADN Coin’s website claims that the platform is a powerful ICO security platform. The team posted information that shows their plans to implement a blockchain-supported feature that
offers security on initial coin offerings. The team is also developing a mainnet which is specifically designed to protect ICO participants from fraud, scams, and other heinous activities commonly associated with ICOs. They claim to be the first to implement an ICO Wallet, in which funds cannot be accessed by ICO-holding companies except those approved by the participants.

In a recently published report, Tad Einstein, a descendant of the great Albert Einstein, has publicly announced that he has partnered with ADN Coin and will serve in the capacity of Chief Information Officer and Strategic Advisor. Mr. Einstein believes in the innovative mechanisms and disruptive technology that the project proposes. He said, “ADN Coin is a project that my team and I are devoting significant time and resources to. For too long, the ICO market has widely been used as a vehicle for fraud and deception, until now. ADN Coin and its underlying ecosystem are purpose built to re-instill investor confidence in the ICO process as well as provide the platform which will power real-world e-commerce leveraging cryptocurrencies. The ADN team is proud to be the leader in this revolution and is excited to deliver these necessary industry innovations to the world.”

For more information about ADN Coin and their exchange listings, check out their official online channels.

ADN website: https://adncoin.com/

ADN social media channels:
Telegram: https://t.me/adncoinofficial
Facebook: https://www.facebook.com/adncoinofficial/
Instagram: https://www.instagram.com/adncoinofficial/
Twitter: https://twitter.com/adncoinofficial
LinkedIn: https://www.linkedin.com/company/adncoinofficial/about/

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Information provided via press release
Distributed by Global Crypto Press Association Press Release Distribution Service for industry.


Bitcoin Club Cyprus Hosts Free Educational Meet-Up...


Bitcoin Club Cyprus will host an educational evening meet-up on May 28th, 2019. The event will be held at the Cyprus International Institute of Management’s Limassol premises and be sponsored by Komodo.

Contentworks – a leading content marketing agency providing tailored solutions for the finance, fintech and lifestyle sectors primarily – is an official media partner for the summit which is sure to attract some of the sector’s brightest minds.

What to expect?
The eagerly anticipated May meet-up offers the chance for anyone interested in crypto, blockchain and decentralised ledger technology to learn more about the latest industry news and advances. There will be an array of public lectures and presentations as well as the chance for attendees to mingle with likeminded people and make new professional contacts. The blockchain and crypto industries move at a rapid rate and therefore, Bitcoin Club Cyprus aims to deliver cutting-edge insight.

The event will be recorded and livestreamed for future use. It follows other networking events arranged by the same team including Nakamoto’s Den, an investment blockchain conference which saw start-ups and established businesses battle for much-needed investment.

An Inspiring Schedule 
The evening event follows an organised schedule and welcomes a host of thought-leading speakers. There will also be dedicated networking times for attendees to maximise their experience.

The event timetable is as follows:


  • 18:45 - 19:00 – Welcome
  • 19:00 - 19:30 – Vasil Mitov – Introduction to Bitcoin basics – Programmable money as part of a new digital age.


Vasil is a Bitcoin professional certified from the prestigious Said Business School University of Oxford in the area of blockchain technologies and regulatory frameworks.

  • 19:30 - 20:00 – Angelos Leoussis – Stablecoins – Bridging the best of both worlds


Angelos has been working as an Operations and Project Manager in Coinomi Wallet since 2015. He has significant knowledge of the sector and helped create BitcoinLib (a dot net port of Bitcoin core) in 2012-13. He has a BSc in Computation and an MSc in Constraint Satisfaction Algorithms from Manchester University in the UK.


  • 20:00 - 20:10 - Break
  • 20:10 - 20:40 - Daniel Pigeon – An Overview of Komodo Platform


Daniel is a Technical Writer on the Komodo Team with a bachelor's degrees in Economics and Philosophy from the University of North Carolina at Chapel Hill. He joined Komodo in January 2018 and has since helped the team with a number of high-profile marketing projects.


  • 20:40 - 21:10 – Monis Chagouel – Introduction to Technical Analysis.


With a Masters in Banking & Finance, Monis has spent the past 9-years working as a Treasury FX trader within a Corporate Treasury function at a NASDAQ listed firm. He is also the founder of the Greek Cryptocurrency Community, an active telegram channel for Greek crypto enthusiasts.


  • 21:10 - 22:10 – Networking


Contentworks as Media Partners
Having collaborated with many ICOs, blockchain start-ups and fintechs, Contentworks is a knowledgeable media partner for the upcoming Bitcoin Club Cyprus meet-up. The agency has worked with numerous high-end clients including NEC delivering easy-to-understand content on topics that are often misunderstood or considered ‘tricky’ – such as blockchain.

Bitcoin Club Cyprus’ evening meet-up neatly rounds off a busy calendar for the crypto/blockchain and fintech sectors with Limassol also hosting key events such as the iFXExpo.

Those wishing to attend can register their interest via Bitcoin Club Cyprus’ Facebook page.


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Information provided via press release
Distributed by Global Crypto Press Association Press Release Distribution Service for industry.


The New Pro-Cryptocurrency Bills WILL PASS and Become Law - A Look At Each Step of the Process...

US Crypto Bills and Laws


There's several bills coming down the pipeline, and if passed they could take the cryptocurrency markets to places we've only imagined.

We've heard time and time again - institutional investors and Wall Street are coming, so where the hell are they?

It is true we've had countless announcements from big institutional players saying they're entering the cryptocurrency space, one after the other saying they're setting up various new cryptocurrency based operations.

So why have we only heard those announcements, but haven't seen these plans put into action?  These firms want in, that part is true - but the money is on hold until the regulations are clear.

That clarity is what these bills would finally bring.

UPDATE: The most important bill of them all, the Token Taxonomy Act has officially been introduced to Congress! That story here

Warren Davidson (Republican) and Darren Soto (Democrat) are behind the bill at it's inception and it solves the biggest issues US based cryptocurrency investors and project developers have faced over the last year.

The bill states that tokens shall no longer be defined as 'securities' and therefore shouldn't have to follow the same guidelines as investments such as stocks, it also makes clear what needs to be reported for tax purposes, and what doesn't.

It officially frees the emerging technologies of blockchain and cryptocurrencies from it's current state - bound to outdated laws passed in the 1940's. To put that in perspective, the first color TV was sold in 1954 - but cryptocurrencies in the United States are being regulated with laws written nearly a decade before that. 

Another bill that's even further along in the process is House Resolution 528 which addresses laws regarding the transferring of money - and frees cryptocurrency from them.  This bill has already been officially introduced.

But none of this matters if the bills can't pass. I believe they will - let's go through each step of the process.

BIPARTISAN INTRODUCTIONS:

The bill is written by 1 Republican and 1 Democrat.

Do you ever feel like elected officials from each party just looks to see if an idea is presented by the opposing party, and if it was - then they're against it?

However, a bill authored and introduced by members of both parties will require politicians to actually look into what it's about.

I believe even if they don't understand the technical aspects, the core concept is quite simple: using regulations written in 1945 and applying it to technology invented in 2008 is absurd. They don't need to understand much more than this to know this bill is vital to keeping America competitive in the global marketplace.

THEY'VE GATHERED WIDE SUPPORT FOR CRYPTOCURRENCY ONCE BEFORE: 

The first move in the right direction began with these same congressmen issuing an official letter to the SEC requesting their clarification regarding how they will regulate ICOs, back in September of this year.

It used bold language, clearly stating their concern that the SEC was using "a heavy-handed regulatory approach that could stall innovation" when it came to cryptocurrency.

They submitted this letter with 14 signatures in total, from a variety of both Democrats and Republicans. I think it's reasonable to assume we can expect these same officials to also be supporters of this bill when it comes time to vote.

THE BITCOIN BOOGIEMAN IS DEAD:

The days of people hearing "bitcoin" and thinking it's just the official currency of everything evil are behind us.

With companies such as Bakkt, owned by the New York Stock Exchange, Starbucks, and Microsoft entering the cryptocurrency space, and 99% of news stories being on the topic of it's price and fundamentals, not drugs purchased online - the public perception has changed drastically.

Before casting a vote, government officials may even want to check with other agencies to see if this new perception is true.

If they do, they'll find reports from people like Special Agent Lilita Infante of the US Drug Enforcement Administration (DEA).  The report states that in the 5 years of monitoring illegal activity using cryptocurrencies - they've seen a dramatic drop.

Those 5 years began with them suspecting up to 90% of cryptocurrency transactions were for illegal purchases.  Today that's 10% and still dropping.

NO LONGER JUST WATCHING FROM A DISTANCE:

I clearly remember the feeling I would get when I heard there would be any kind of hearing that included the topic of cryptocurrency.  Wondering if anyone has ever actually sat down with our elected leaders and given them at least a basic overview of what cryptocurrency even is.

Finally, now roaming the halls of congress are people representing the cyptocurrency and blockchain industry.

The US Blockchain Association is backed by funding from the top exchanges and blockchain startups, and it's only existed since September of this year.

If a member of congress expresses their opposition to the bill, it's their job to set up a meeting, to help guide them in the right direction and correct any misconceptions.

Those who vote in support of bills that fuel the industry's growth can likely expect some help when it comes time to funding their next campaign.

Like it or not, this is how the game is played. Many people, myself included see this as long overdue.  We may not be in the position we are now if these efforts had begun earlier.

IT ALL ENDS ON THE DESK OF A PRESIDENT, WITH A CRYPROCURRENCY ADVOCATE AT HIS SIDE:

If what i've said so far turns out to be correct - the final step is the bill arriving to the White House where it needs it's final signature of the President before becoming law.

Once again, there's reason to believe the bill will pass this final step.

That's because 2019 kicked off with cryptocurrency supporter Mick Mulvaney as President Trump's new Chief Of Staff.

Mulvaney is a former congressman - actually, he's the first member of congress to accept Bitcoin campaign donations.

He was also the author of two bills - 1108 and 7002, which urged officials to take a reasonable regulatory approach to the cryptocurrency markets, and make smart contracts legally binding equal to a signature on paper.

IN CLOSING:

There's one final point I always try to mention when writing on the subject of regulations, because there's a common misconception that things like this bill would suddenly turn the cryptocurrency markets into a lawless wild west for investors, and somehow make things easier for the bad apples and scam ICOs.  That is not the case. It always has, and always will be illegal to lie in order to get other people's money - that's called fraud.

With that said, I just cannot look at all of the factors above and come to any other conclusion - the odds are in our favor!

This story originally ran Jan 2019, it was updated April 15th 2019 to include recent developments and current data.
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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk

It's Happening! US Congress Members From Both Parties Unite, Officially Submit Most Powerful Pro-Cryptocurrency Bill Of Them All!

Congress and Cryptocurrency Bills


[Updated May 20] - As the reporter who broke the story months ago (read "Exclusive: US Congress members to submit major pro-cryptocurrency bill" article here) I've been following the progress of the Token Taxonomy Act closely - it's a bill that solves the regulatory uncertainty issue once and for all, and that has huge implications for the market.

Those plans we shared months ago, just went into action! The bill is officially submitted to Congress, and the first step of becoming law is now underway.

For those catching up, here's everything you need to to know:

"...the bill would implement the one vital and important change the markets truly need for a full-on comeback, by giving tokens their proper legal classification, and thus allow US citizens once again to have the freedom to fully participle in the markets.

In the US cryptocurrencies are being legally classified 'securities' so oversight of them goes to the Securities Exchange Commission (SEC). The Token Taxonomy Act takes this on directly and removes the 'security' classification, and the SEC oversight."

To understand why this is so important, you need to understand how awful the current regulatory situation is:

"Cryptocurrency and blockchain technology are often mentioned alongside Artificial Intelligence and IOT technology as the 'cutting edge' tech of our time - but cryptocurrency is the only one being held back by government regulations written in the 1940's.

While cryptocurrencies are intended to be freely exchanged, the laws surrounding them are so outdated they were written for the stock market at a time when stocks were traded on paper certificates.  In fact, the hot new technology when these regulations were written - color TV."

Not just something nice for crypto traders - the US has suffered some real economic damage in the meantime:

"Companies involved in the cryptocurrency space that began in the US packed up and left, taking the jobs with them.  When a company leaves - no more tax revenue for the state and federal government either. 

No one wanted to risk building something that could be torn down the next day - even if they conducted honest ethical business. The law meant that a company based around a cryptocurrency could still be shut down - simply for existing as an 'unlicensed security'."

It's always important to note the following, because if there is an attack on the bill it will be from this angle - but it does NOT make things easier for scammers and fraudulent ICOs. Fraud is illegal, lying to investors is illegal - this does not change if cryptocurrencies are no longer classified as a security.

The only change we imagine in this regard is that the CFTC would likely be the agency pressing these fraud charges instead of the SEC - as crypto changes from a security and to a commodity.

Now the next big question is - will it pass?

I believe YES, it will - I've outlined in depth why it looks like this bill will be met with approval at every step of the process in another report titled "Why the new pro-cryptocurrency bills WILL PASS and become law..." you can read that here.

Next we can expect Congressional committees will examine the bill in depth, suggest possible amendments, then it goes up for a vote.  This process can take weeks or months, depending on the levels of support or opposition.

You can find the full bill online here.

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk

If you own the token, you own part of the company - we talk to the CEO of Minedblock about their plan for a crypto-community owned crypto mining operation!


Last week we learned about the new STO (Security token offering) from a company called 'Minedblock', read that here to catch up.  This week, we spoke with it's founder Greg Wales and asked him to tell us how the whole thing will work!

Tell us where things started for you, how long have you been involved in cryptocurrency?

Personally for about 3 years but on a pretty small scale. I started mining as a hobby around 18 months ago. I’ve been watching the space for a long time and made the initial mistake of writing it off as ‘a silly fad’ when I could have snapped Bitcoin up at 7 cents each.

So when did mining cryptocurrency come in to the picture?

Mining is something I played with as a hobby with a few Antminers and a home built GPU rig. The cost of electricity in the UK and increasing network difficulty made it unprofitable to do from home so that’s where the idea of MinedBlock was born.

We’ve been watching others in the space and recognise that there is a way to deliver this service in a much more efficient way for investors. Existing cloud mining services don’t seem to be able to actually deliver so that’s what we want to change.

Any other experience in your professional background that will benefit you running Minedblock?

I’ve been working in IT and Managed Services for nearly 20 years with a range of experience from simple service provision to designing huge datacenter installations so I have the knowledge that we need to set MinedBlock up in a effective way.

Many of our readers have likely seen recent news of other big mining operations downsizing and laying off employees - where did they go wrong? What steps are being taken to make sure you won't make the same mistakes?

During the first part of 2018 after Bitcoin soared to nearly $20,000 a lot of mining companies appeared and raised millions of dollars through ICOs but as the price dropped throughout the year the businesses became unsustainable because of the increased interest in mining and higher hash rates and the fact that they set up in areas where the electricity was too expensive to make a positive return. In the latter half of 2018 we saw cloud mining services cancelling contracts and big mining companies literally scrapping unprofitable mining equipment.

We believe that by starting this now, with a much lower average crypto price and making the service sustainable at this price level that we will be able survive another crypto winter and keep on delivering.

Some people have questioned our small team size at this stage but the team is intentionally small, more staff equals more cost which reduces profits for us to share. We have resources on call when required and will run the farms with the minimum possible footprint to keep our efficiency high.
We also have a plan to further reduce our running costs but we’ll reveal that once we’re up and running.

You've filed documents with the SEC (see here) - It's my first time seeing something like this, what exactly are we looking at here? 

The SEC is one of the most vocal regulatory authorities when it comes to crypto, the form we filed is basically an admission that we are a security and an exemption from the need to fully register at this stage using Regulation D Rule 506c. What it means is that we are able to accept Accredited US investors and actively market our token sale without attracting the wrong kind of interest. If we hit our fundraising goals then a Regulation A+ offering will come next which will allow anyone in the US to invest with us but that it a costly process; both financially and time consuming.

Let's talk technical details - what kind of rigs will you be mining with, and why?

We plan to have a 50/50 split between ASIC miners and custom built GPU rigs. The ASICs will be dedicated to mining specific coins, although there is some small scope to switch them to different assets. The GPU rigs give us a lot of flexibility to switch between whichever coin is the most profitable as well as the ability to mine multiple different assets at the same time.

Where will this be located? Why did you choose this location?

I won’t go into specific details of where, for obvious reasons, but we have chosen Iceland for our first location. The electricity costs, cool climate and the fact that it is in easy reach of the UK were the main reasons. Politically speaking Iceland has been pro-crypto so far which is a good sign. We also considered Canada, Sweden and Georgia as options but ultimately decided that Iceland was the best fit for us initially. If we get to the point of setting up another mining facility then it will be located in another country.

So, someone purchases tokens in your security token offering, how will this then determine how much of the company this person now owns?

ICOs were fixated on Soft Cap/Hard Cap thresholds and in a lot of cases it made sense, investors wanted to know that they would own a portion of a fixed quantity coin to prevent the supply having a big effect on the value.
In a Security Token/Equity Share model that is less of a concern so whilst we have a soft cap, which is enough for us to build a competitive facility, we don’t have a hard cap. The more successful our fund raise is - the bigger the initial mining farm will be. We will create one token for each share that is sold, the percentage of the company that a person owns will be directly linked to the percentage of the total token supply they own

How long following the end of the token offering do you expect to be operational?

We plan to start the ordering and build process as soon as we hit the soft cap, even if the main sale hasn’t concluded by then. Depending on equipment manufacture and shipping timescales we estimate 6-8 weeks to start operating, the farm will then grow as the token sale progresses. There is an implantation road map towards the end of our whitepaper (https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf)

How long after becoming operational do you expect to be profitable?

We will be producing revenue shortly after the mining units go live and hope that within 1-2 months will be mining enough revenue to distribute to token holders.

How will the process of a token holder receiving profits from the mining work?

Token holders will simply need to keep their tokens in their whitelisted ETH wallet. Each month we will use a Polymath smart contract to distribute dividends to all token holders automatically.

The token sale started last week, how long do people have to participate?

We have a pre-sale running currently which will run until 29th March. During this time there is a 33% discount to $0.10 per MBTX token. If you purchase via the smart contract you can pay with POLY which might give you a chance to get a bigger discount depending on the price on the day.
Investors can register at our website and go through the KYC process to get whitelisted.

Controversially, we are charging the cost of KYC to participants which has received mixed feedback. There is a $2 fee which we are reimbursing with $4 worth of tokens and the reason for doing this is to prevent people just going through KYC for no reason. So it’s a good opportunity to get a few extra tokens at a slightly bigger discount.

Anything else you'd like our readers to know?

Despite all the negativity around ICOs and mining projects there is a huge opportunity for us to come along and do this the right way, our investors will become our customers and they are our number 1 priority.

All token holders will be able to vote on the direction of the service, they can have an input on how and where we expand the operation and are always free to suggest alternative revenue streams that we should add. We want this to feel like a community driven project.

If anyone wants to know more then please feel free to reach our to the team or join our telegram group here.

Visit Minedblock at https://www.minedblock.io


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This piece was a GCP Team Collaboration.


SEC Commissioner's first remarks on the Token Taxonomy Act - the bill that would remove SEC oversight from most tokens, soon to be introduced in Congress...

We've been closely following the Token Taxonomy Act, a bill that would free most cryptocurrency tokens from being labeled a "security" - which would also then remove the Securities And Exchange Commission's authority over them.  Read about that here.

In a speech given Friday at the University of Missouri School of Law, SEC commissioner Hester M. Peirce mentioned the bill for the first time - and to my surprise, she doesn't seem against it - even going as far as to cite several examples against classifying them as securities.

"Congress may resolve the ambiguities engendered by Howey by simply requiring that at least some digital assets be treated as a separate asset class. Congressmen Warren Davidson and Darren Soto recently introduced a bill in the House intended to amend the federal securities laws to do just that, provided that the token truly operated in a decentralized network.

Such an approach would facilitate more tailored disclosure. Indeed there are others who have argued that, whether ICOs can fit within the definition of a securities offering does not answer the question of whether that is how we should regulate them. In a forthcoming paper, Georgetown Law professor Chris Brummer and his co-authors argue that ICOs have certain features that make the regulatory framework applicable to IPOs inappropriate. For example, changes to the blockchain may have outsized effects on certain tokens that depend on it. An investor may need to understand, for example, how the blockchain can be changed, and how those changes would affect the relevant token before she could fully appreciate the risks of investing in that crypto asset."


If you listened to her speech you may not have immediately made the connection, that 'recently introduced bill' is the Token Taxonomy Act, this was made clear when the speech was published on the official SEC website with citations and mentioned by name in the footnotes.

Evaluating the nature of her statements it seems she actually shares in the same frustrations as everyone else - if you're in America and dealing in cryptocurrency as a business, trader, or regulator - you're sick of the uncertainty and confusion the current legal framework provides.

An initial concern of mine was that opposition to the bill would come from the SEC with the intent of influencing the votes of Congress and that the SEC was viewing the Token Taxonomy Act as an attack on the work they've done so far.

But instead, she acknowledged  'the ambiguities' that come with applying the Howey test, the standard method used to answer the question of 'is this a security?'.


Congressman Warren Davidson calls current regulations 'sloppy'.

The author of the bill, U.S. Rep. Warren Davidson began seeking this clarification in a letter written by him and co-signed by a total of 11 fellow congressmen, Republican and Democrat, in that letter he stated:

"We believe the SEC could do more to clarify its position. Additionally, we are concerned about the use of enforcement actions alone to clarify policy and believe that formal guidance may be an appropriate approach to clearing up legal uncertainties which are causing the environment for the development of innovative technologies in the United States to be unnecessarily fraught."

It seems the SEC would like that clarification too - which is probably why they've struggled to provide it. When the government body in charge of enforcement seeks clarification, providing it becomes the duty of lawmakers.

Another factor worth noting that I haven't touched on in previous articles -  the rise of actual security tokens!

It seems like there's a new 'STO' project announced every day that planning to release a token that also represents some kind of equity in the company behind it. That's going to be more than enough to keep the SEC busy, and even under the Token Taxonomy Act these will remain classified as securities.

It's clear as can be - from traders to regulators, the time to bring everyone the regulatory clarity they need is now. Add all this to my list of reasons I believe this bill will pass - I wrote an in-depth look at why I think it will be met with approval each step of the way here.

The SEC Commissioner's speech can be read in full here.

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk


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