19.09.2020 - Another day into Cryptoverse


  • India is reportedly planning on introducing a new law to ban cryptocurrency trading in the country, a move that would be a blow to the rapidly growing cryptocurrency scene in the country, while encouraging all the blockchain applications. The Central Bank of India banned crypto in 2018 at the height of the ICO scams, and the Indian cryptocurrency exchanged sued and won their lawsuit earlier this year. This led to a 450% surge in trading in India. The rise of trading volumes, per Bloomberg, raised concerns Indians were risking their savings amid the coronavirus-induced economic slowdown.


  • Japanese cryptocurrency exchange Fisco has sued the leading crypto exchange Binance for what they call facilitating the laundering of $9 million in bitcoin. The laundered funds came from the $60 million hack that cryptocurrency exchange Zaif suffered in 2018. Zaif was later on acquired by Fisco, which compensated users who lost crypto after the hack. The strategy used was quite surprising as the hackers used Binance’s KYC policy, which lets new users trade up to 2 BTC without having to provide any meaningful identifying information, to launder the funds.


  • Coinmarketcap is giving away Kava if you are doing well on a quiz, after watching few videos about it. Check this here


  • Yam Finance v3 is ready to be released on September 18. Liquidity incentives will go live for the YAM/yUSD pairing on September 19, with the first rebase set to occur two days later. The DeFi protocol has been audited by Peckshield, a blockchain security firm. If you remember from the last month incident, Yam Finance came to a premature end due to a smart contract bug, the developers then created an interim Yam Finance v2 (YAMV2) as the final and fixed v3 code goes through auditing.


  • Helium and Digibyte increased lately, and i must admit that i looked first at Helium as being some sorts of a scam, as they were selling their mining devices for a lot of money, with not enough profit (unless you live in a highly populated area like capital or big city. I still do not know why Digibyte is increasing, maybe you can tell me!


These were today's news, now try not to scream and have some ice cream!



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