Blockchain and Cryptocurrency News Roundup

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  • May 4, 2020
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4 May 2020.

Stay informed and be update to date with latest in the blockchain and cryptocurrency space. We’ve gathered some of the biggest headlines for you right here.  

ETH 2.0 to issue <2 Million ETH per year – Vitalik Buterin

“Ethereum co-founder Vitalik Buterin said that issuance on the Ethereum 2.0 upgrade will be drastically reduced in a podcast interview with POV Crypto called “Internet Money”. Discussing some of the differences between Bitcoin (BTC) and Ethereum (ETH), Buterin explained why the team chose Proof of Stake as the upgraded consensus mechanism: “One of the reasons why we’re doing Proof of Stake is because we want to greatly reduce the issuance. So in the specs for ETH 2.0 I think we have put out a calculation that the theoretical maximum issuance would be something like 2 million a year if literally everyone participates.”


Iranian Ministry of Industry, Mining and Trade issues license for BTC Mining Farm

“iMiner, a cryptocurrency company registered in Turkey, has been granted a license to mine digital coins and offer trading and custody services in Iran, Tabnak news website reports. The charter issued by Iran’s Ministry of Industry, Mine and Trade will allow the company to operate with a computing power of 96,000 terahash per second at a bitcoin mining farm in the central city of Semnan, the report said.”


BitMEX restricts Japanese resident trading access

With effect from 23:00:00 JST 30 April 2020 (for users registering for the first time), and 00:00:00 JST 1 May 2020 (for existing registered users), we are restricting access to users who are Japan residents. This will mean a user who is a Japan resident registering on the BitMEX platform for the first time will be unable to trade and any existing registered customers who are Japan residents will not be able to place orders that would open a new position or increase an existing open position. Open positions will otherwise not be affected and will continue in accordance with the terms of the relevant contract. The restrictions are in response to the amendments to the Japan Financial Instruments and Exchange Act and Japan Payment Services Act effective as of 1 May 2020 following the cabinet order earlier this month. We support the efforts of regulators to help establish standards for cryptocurrency products that will underpin the advancement of this rapidly growing asset class.  We will continue to work with the Japanese regulatory authorities to support their aims for the Japan market and will keep our Japan users updated. 


Japan FSA Approves 2 new Blockchain Associations

This week, financial regulators in Japan took another step towards building the local blockchain sector after approving two new digital currency associations. The groups, the Japan STO Association and the Japan Virtual Currency Exchange Business Association (JVCEA), will operate as self-regulatory bodies within the space. Importantly, their approval signals the start of further regulation and higher standards of compliance within the country’s blockchain markets.

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