CryptoCurrency : Cryptocurrencies largely positive as New York University becomes first US college to offer blockchain major!
* After the New York Office of the Attorney General (OAG) published a report accusing major US crypto exchanges of lack of market oversight, Coinbase’s Chief Policy Officer, Mike Lempres, wrote in a blog post that the OAG’s report has led to a misrepresentation of crypto exchanges in the media. In his response to the OAG claiming 20% of trading on Coinbase’s crypto exchange comes from Coinbase itself, Lempres clarified that Coinbase does not trade for the benefit of the company on a proprietary basis.
* Australia’s financial regulator, the Australian Securities and Investments Commission (ASIC), is cracking down on misleading and deceptive initial coin offerings targeting retail investors. The news comes after the ASIC confirmed it has identified “consistent problems” in its ICO markets, forcing the financial regulator to shut down several ICO related companies.
* Bitcoin Core released an update Tuesday to patch a recently discovered vulnerability in its software. The vulnerability could have potentially crashed older versions of Bitcoin Core if a miner decided to exploit it by processing a block transaction that tries to spend the same amount twice, which would cost the miner about USD$80,000 (12.5 BTC). The new update includes a feature that enables the software to “quietly reject” invalid blocks created by miners, eliminating the possibility of a potential crash.
* Creator of Ecash and one of the founders of the cypherpunk movement, David Chaum, revealed to CoinDesk plans of a “reinvented” cryptocurrency that fixes problems of speed, privacy, and scalability. Chaum believes that he has made two blockchain breakthroughs: the first, to change digital signatures to carry out verification “in advanced”; and second, to utilize something called “multi-party computations” to increase anonymity.
* Leading developers of Bitcoin Cash (BCH) noted while at CoinDesk’s Consensus Singapore event today that BCH is unlikely to undergo a future fork. Amaury Sechet, a lead developer for Bitcoin Cash platform, Bitcoin ABC, said that too much forking causes forks to become meaningless while introducing instability to the market.
* LINE, a messaging app giant from Japan, unveiled plans to launch an ambitious token-powered ecosystem by 2018’s end. LINE hopes to capitalize on its massive pre-existing user base of 160 million monthly active users with a plan centered around its previously announced LINK token. LINK is meant to serve as a fuel for the wide range of consumer facing applications LINE plans to offer, such as restaurant payment or the serving of online content.
* New York University (NYU) has reportedly become the first college in the US to offer a major in blockchain technology. According to a report by CBS, NYU’s Stern School of Business will offer the major after becoming one of the first business schools to offer undergraduate courses in cryptocurrencies and blockchain last year.
* Switzerland’s Minister for Finance, Ueli Maurer, and State Secretary for International Financial matters, Joerg Gasser, recently completed a visit to Israel with a goal of Swiss banks gaining access to Israeli markets. According to a report by Reuters, the two nations agreed to collaborate on future financial technology, cryptocurrency, and blockchain regulation following the visit.
* The second major crypto theft in Japan this year occurred Friday, September 14th when hackers stole 6.7 billion yen ($60 million) in crypto assets from the wallets of crypto exchange, Zaif. Hackers managed to break into hot wallets (online, connected wallets) containing Bitcoin, Bitcoin Cash, and Monacoin, stealing 4.5 billion yen ($40 million) of crypto assets that belonged to customers. The hack was not detected until the following Monday, September 17th. Zaif has agreed to pay full restitutions to customers.
* The Texas State Securities Board, a regulating body in the state of Texas, has issued an emergency action to halt investments in three cryptocurrency related schemes. The regulating body issued cease and desist orders to Coins Miner Investment Ltd, DigitalBank Ltd, and Ultimate Assets. Ultimate Assets, specifically, has promoted misleading advertisements that promise Texans an initial investment of USD$1,000 would grow to USD$10,000 in just three weeks.
**Sources:**
r/https://www.coindesk.com/coinbase-refutes-claims-in-new-york-attorney-generals-exchange-report/
r/https://www.ccn.com/australias-financial-watchdog-cracks-down-on-misleading-icos-crypto-funds/
r/https://cointelegraph.com/news/bitcoin-core-update-fixes-vulnerability-that-reportedly-could-crash-network-for-80-000
r/https://www.coindesk.com/ecashs-inventor-is-back-and-he-thinks-hes-built-the-fastest-ever-blockchain/
r/https://www.coindesk.com/leading-bitcoin-cash-developer-says-future-fork-unlikely/
r/https://www.coindesk.com/messaging-giant-line-unveils-ambitious-plan-for-crypto-token-economy/
r/https://cointelegraph.com/news/new-york-university-offers-major-in-blockchain-technology
r/https://www.ccn.com/switzerland-and-israel-collaborate-on-cryptocurrency-blockchain-regulation/
r/https://www.ccn.com/licensed-crypto-exchange-zaif-plans-compensation-after-6000-bitcoins-60-million-crypto-theft/
r/https://www.ccn.com/texas-regulators-shut-down-three-cryptocurrency-scams/
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