Countries around the world are increasingly formulating or finalising plans to launch a national cryptocurrency. From China to Palestine, nations are seeing the benefits of digital currencies.

One country that had been surprisingly slow in its steps towards a national cryptocurrency in Japan. Often seen as the home of cryptocurrencies, with a population that is crypto-friendly and a decent regulatory framework in place, it would seem that this would be the leading nation in future nation based crypto.

Yet, since the past few months, Japan has been relatively quiet on the national cryptocurrency front. However, with Asian rivals China increasing the pace of its digital RMB plans which will be implemented by the Peoples Bank of China, Japan has looked to counter it.

The Bank of Japan is leading the talks, with meetings held in January between them and the Ministry of Finance (MOF), and Financial Services Agency (FSA). Notable names were in attendance. These include Ryozo Himino, FSA vice-minister for international affairs, Yoshiki Takeuchi, vice-minister of finance for international affairs, and Shinichi Uchida, BOJ executive director for international affairs.

Bank of Japan Governor Haruhiko Kuroda has expressed the intentions of the Bank in its central bank digital currency (CBDC) plans but said there was not a huge motivation or need currently:

We are advancing research and study from the technical and legal perspectives so that we will be able to move in an appropriate way when there is a growing need.

Overall, it would appear that Japan is joining an ever-growing list of nations and their central bans looking to add a central bank digital currency to their ecology.

The Bank of England, the European Central Bank, the Central Bank of Sweden, Canada and the Swiss National Bank have all announced their crypto intentions alongside Japan after signing a group partnership with the Bank of International Settlement.

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Will Japan have a National Cryptocurrency? - Asia Crypto Today

Lloyds syndicate Atrium has partnered with Welsh broker Coincover to launch a new liability product that protects cryptocurrency held in online wallets.

The policy, which offers flexible limits from 1,000 upwards, aims to protect individuals against losses arising from the theft of cryptocurrency or other malicious hacks on virtual wallets.

The new product is backed by a panel of Lloyds insurers, which are all members of the markets Product Innovation Facility (PIF). This includes TMK and Markel, to name a few.

Prospect Insurance Brokers was also involved in the development of the policy.

Matthew Greaves, underwriter at Atrium, said: There is a growing demand for insurance that can protect cryptocurrency as it becomes increasingly popular.

It is a testament to Lloyds that the market has put together an innovative solution to mitigate these new risks and protect against theft from physical as well as online vaults thereby providing customers with piece of mind that their assets are safe.

The liability insurance policy uses a dynamic limit that will increase or decrease in line with the price changes of crypto assets this means that policyholders will always be indemnified for the underlying value of their asset, even if this fluctuates over the policy period.

David Janczewski, chief executive at Coincover, described the product as a unique and timely solution.

He continued: As the crypto asset market heats up again at the start of 2020, a new wave of crypto-curious customers are standing by at the ready to jump in, having previously been put off by the lack of adequate protection against theft and loss.

With this innovative new policy, we can remove these barriers and broaden the appeal of crypto. It represents another step forward in enabling cryptocurrency adoption.

Trevor Maynard, head of innovation at Lloyds, added: As more money flows into the crypto asset market, losses from hacks are on the rise.

Nevertheless, cryptocurrency companies have found ways to protect their digital assets from theft and, by working closely with Lloyds underwriters, to insure losses that do slip through the net.

This liability product marks the second new insurance product to be backed by PIF members.

Last September, PIF members supported the launch of a profit protection policy for hotels this uses an event-based triggered.

Coincover has received significant support from the Development Bank of Wales, as well as Welsh angel investors.

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Lloyd's syndicate partners with cryptocurrency broker to protect online wallets - Insurance Times

On March 2, the U.S. Treasury Departments Office of Foreign Assets Control (OFAC) announced sanctions pursuant to Executive Orders 13694, 13757, and 13722 against two Chinese nationals for allegedly laundering over $100 million in stolen cryptocurrency connected to a North Korean state-sponsored cyber group that hacked cryptocurrency exchanges in 2018. According to OFAC, the two individuals materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, a malicious cyber-enabled activity or in support of the North Korean cyber group, which was designated by OFAC last September (covered by InfoBytes here). OFAC stated that it closely coordinated its action with the U.S. Attorneys Office for the District of Columbia and the Internal Revenue Services Criminal Investigation Division. As a result of the sanctions, all property and interests in property of these individuals that are in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC. OFAC further noted that its regulations generally prohibit all dealings by U.S. persons or within the United States (including transactions transiting the United States) that involve any property or interests in property of blocked or designated persons, and warned foreign financial institutions that knowingly facilitating significant transactions or providing significant financial services to the designated individuals may subject them to U.S. correspondent account or payable-through sanctions.

On the same day, the DOJ unsealed a two-count indictment against the two individuals, charging them with money laundering conspiracy and operating an unlicensed money transmitting business. The indictment claims that the individuals converted virtual currency traceable to the hack of a cryptocurrency exchange into fiat currency or prepaid Apple iTunes gift cards through accounts in various exchanges linked to Chinese banks and then transferred the currency or gift cards to customers for a fee. According to the indictment, neither individual was registered as a money transmitting business with the Financial Crimes Enforcement Network, which is a federal felony offense. The complaint seeks forfeiture of 113 virtual currency accounts belonging to the individuals.

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Chinese nationals sanctioned and charged with laundering over $100 million in cryptocurrency from hacked exchange - Lexology

The South Korean National Assembly passed new legislation today that will provide a framework for the regulation and legalization of cryptocurrencies and crypto exchanges.

In a unanimous vote during a special session of the legislature convened amidst the countrys worsening novel coronavirus situation, the representatives passed an amendment to the countrys financial services laws that would authorize Koreas financial regulators to effectively oversee the nascent industry and develop rules around anti-money laundering among other processes.

South Korea has been on the forefront of the cryptocurrency boom and bust over the past few years, and its one of the few countries with wide-scale adoption of the technology. Surveys at the height of the crypto craze in 2017 showed that more than a third of the countrys workers were active investors in cryptocurrencies, like Bitcoin, Ethereum and other systems. The countrys largest city, Seoul, led a government initiative to introduce its own cryptocurrency S-coin that was designed to capture the zeitgeist of the frenzy.

During that period, South Koreas government moved quickly to push new regulations and clamp down on the spread of blockchain, which caused large gyrations in the price of Bitcoin as investors observed how the countrys investors would react.

Todays vote in the legislature just a few years later is a relatively quick turnaround for regulators, and shows the increasing acceptance of blockchain and, more specifically, cryptocurrencies in the context of financial services both locally and across the world. One of the countrys largest technology companies, Kakao, has continued to invest in blockchain initiatives, and the local ecosystem remains relatively robust in innovation in the sector.

The passage of the cryptocurrency legislation is a victory for the Korean startup ecosystem, but other major questions remain about the sector.

Among the most heated topics today is the fate of Tada (), the indigenous ride-hailing startup that competes with the traditional and regulated taxi industry. Since the companys launch in late 2018, the company has faced constant threats of shut down by regulators, before a reprieve a few weeks ago by the countrys top constitutional court approved its operations.

Yet, in the same special session that saw the cryptocurrency bill pass, the National Assembly a day ago approved in committee a bill that would effectively ban Tada and mandate that it receive an operating license from the government. Expect further action on Tada in the weeks ahead.

As for the cryptocurrency law, its passage and presumed signing by South Korean president Moon Jae-in starts a months-long rulemaking process that will also provide time for existing startups and exchanges to transition into the laws new regulatory apparatus.

Koreas parliamentary elections are coming up in just a few weeks (on April 15th), and, while the situation around the novel coronavirus is taking a lions share of the local headlines, votes on tech measures are a way for representatives to position themselves on other salient issues before voters decide.

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South Korea passes one of the worlds first comprehensive cryptocurrency laws - TechCrunch

Cardano (ADA) has been long criticized for being very slow in making it to the market. However, Cardano (ADA) is not worried and they are going merry with their own plans. One of them suggested walk down the street and ask them if they are using cryptocurrency. The reply was that 9 out of 10 will state that they are not using cryptocurrency. So, they feel it does not make a big difference. This does not mean that they are not going to make it to the market, rather they are going great with commercialisation at their own strategic pace.

Input Output Recently tweeted: It was wonderful to have the Emurgo, Cardano Foundation and IOHK teams together for the PWC workshop in London to discuss the commercial strategy, and align everyone along a central vision for Cardano (ADA). More updates from us in due course!

Sydney Ifergan, the crypto expert tweeted: The Cardano ADA guys know why they are here for and then they need to be. They are kind of sure of the market dynamics and know well about where they actually fit.

Previously, Charles Hoskinson tweeted: Dear markets, just an FYI, crypto is the best hedge in the world against a global pandemic. Should SARS-CoV-2 get big, the stock market is done and governments will collapse. Things that live in the digital world are resistant to this and will benefit from the social change. He meant to state that the crypto is the best hedge.

Charles Hoskinson recently broadcasted from London. He started off the broadcast stating that he just finished the PWC workshop, which were 3 action packed days. He shared a very special and quick update in which he stated that each of their product managers will be providing updates.

The focus group met in London, the meet organized by the IOHK met with stake pool operators. The goal was to capture on the knowledge and the learnings of the community ever since the Shelly Incentivized Testnet was rolled out.

Cardano (ADA) are preparing, in fact they are preparing too well, time ahead for the time they think is the right time for their entry in to the market. They seem to be a phenomenal team who are sure going to bring in a lot to the world. They are clear about their next steps. They are too advanced in their research and moving ahead faster than normal.

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Cardano (ADA) Cryptocurrency Going Great with Commercialization Measures - The Cryptocurrency Analytics

Cryptocurrency is the future. When we talk about crypto, we talk about a whole new system of money that is outside what we currently use in our banking system. Cryptocurrency is based off of a technology called blockchain. When you look at crypto charts, it can often be confusing and a bit jargon heavy. Here, we will cut through the technicalities and give a clear concise means to read the charts:

The first thing you have to know is what time frame you are looking at. Based off of your range, you can be looking at the Price variability of one hour, one day, one month, or one year. Be sure to look at the X axis and the demarcations of each candle stick. There, you will know what kind of timeframe youre looking at. The purpose for these time frames are they inform traders of a pattern happening in real time. If you are an experienced trader, the minutes and hours mean a lot. If youre looking for a long-term investment, stick to the month-to-month.

More often than not, your Y axis is going to compose of the price. Youre going to see the highs and lows according to the range you said it. Once again, if youre looking at the minutes an hour, youre probably going to have a smaller price variability on your Y axis. It is not very likely that the price of any cryptocurrency will fall or rise significantly relative to the amount that you own.

When we talk about candlesticks, were talking about those red and green lines that we see across the chart. Those represent the highs and lows of price within a certain timeframe. You can see the shift within your specific range change by watching where on the chart your candlesticks are. If the closing price of your crypto asset is higher than the opening price within the timeframe you select, the candlestick will appear green. If the closing price of your crypto asset is lower than the opening price within the timeframe, your candlestick will appear red. Trends appear, when you watch the green and red candlesticks move up and down the price over the time you select.

Reading a crypto chart is very similar to reading any that of any publicly traded stock.All the variables are the same within the chart. What changes are the market caps, P/E ratio, international opinions, and other factors that affect how well cryptocurrency does. If you know how to read the chart, and with the handy guide above, you can make decisions based off of informed and calculated moves. Good luck, and happy trading.

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How To Read Cryptocurrency Charts - NuWire Investor

Binance coin price is gaining bullish momentum above the $20.50 resistance against the USDT. BNB price action suggests bitcoin could also start a decent upward move if it remains stable above $9,000.

In the past few sessions, binance coin followed a bullish path above the $19.00 and $20.00 resistance levels. BNB price even settled above the $20.00 resistance area and the 100 simple moving average (4-hours).

It opened the doors for more gains above the 50% Fib retracement level of the last key decline from the $23.25 high to $17.69 low. The price is now trading above the $21.00 resistance area.

During the rise, there was a break above a major bearish trend line with resistance near $19.98 on the 4-hours chart of the BNB/USDT pair. It seems like the bulls are currently facing hurdles near the $21.15 and $21.20 levels.

Binance Coin Price

The 61.8% Fib retracement level of the last key decline from the $23.25 high to $17.69 low is also acting as a strong resistance. If binance coin cryptocurrency surges above the $21.15 and $21.20 levels, it could continue to rise towards the $22.00 and $23.00 levels.

The market sentiment is also likely to improve if the price gains pace above $21.20 and it might help bitcoin in rising steadily towards $9,200 or $9,340.

If BNB fails to clear the $21.15 and $21.20 resistance levels, it could start a downside correction. An initial support is seen near the $20.50 level. If the bulls fail to defend the $20.50 support, the price might retest the $20.00 support area.

Any further losses could push the bulls on the back foot and the price is likely to slide towards the $18.80 support level in the near term. Overall, the current price action is positive and there are chances of more gains above $21.20.

Technical Indicators

4-Hours MACD The MACD for BNB/USDT is slowly gaining momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) The RSI for BNB/USDT is currently well above the 55 level.

Major Support Levels $20.50, $20.00 and $18.80.

Major Resistance Levels $21.15, $21.20 and $22.00.

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Binance Coin (BNB) Cryptocurrency Is Surging: Here's How It Can Refuel BTC - newsBTC

Mar 08, 2020 at 11:34 // News

There has long been talk of the great potential of cryptocurrency, blockchain and distributed ledger technology (DLT) to be applied to the energy industry. But until now it was more than just educational disquisitions.

This is because no company had yet implemented this technology in the energy market, which between now and two years will see the end of the market protected with its full liberalization. But from March 2020 thanks to the enlightened mind of a handful of Italian entrepreneurs, it will be possible to pay the electricity and gas bills with tokens or cryptocurrencies, all in blockchain technology.

Some innovative startups have come up with the idea to solve power problems in this growing liberalized market, which covers about 37 million users in Italy for an average household spend of about 1200 euros per year. The idea was presented on Monday 27 January during a press conference in Milan, with the presence of the top companies and investors who immediately believed in the innovative idea of applying the sharing economy in blockchain to the energy sector.

An innovative solution for all users who want to change power operator has to be invented. In fact, customers should not only enjoy prices that are certainly competitive compared to the competition, but also have all the advantages in terms of efficiency, privacy and disintermediation that DLT offers. Also, the company and users will be in a position to use of a cryptocurrency and blockchain sharing economy platform.

The digital currency to be used will have to be listed in different cryptocurrency markets, with which it will be possible to pay the power bills. And it is precisely on the basis of experience that DLT experts believe before others in the potential of new technology in the market.

Later on, the platform will use all the benefits of revolutionary blockchain technology to ensure greater transparency with so-called smart contracts, greater efficiency and lower costs thanks to disintermediation.

A real revolution that could solve some of the problems created by the complete liberalization of the energy market planned in two years' time and which would give customers the opportunity to make a conscious, free and safe choice. The objectives are certainly ambitious but the premises that this new idea can play an important role in the market in the coming years are all there.

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Cryptocurrency and Blockchain to be Applied in the Italian Energy Industry - Coin Idol

Algorithms are at the heart of 21st century life, invisibly controlling many of the systems we use and take for granted on a daily basis. Pervasive algorithms determine the entertainment we consume (Netflix, Spotify), the information we read (Google), and the chatter we hear (Facebook, Twitter). Its no different in crypto, where complex and ever-evolving algorithms silently govern core processes.

Also read: How to Mix Your Bitcoins Using Coinjoin for Greater Privacy

Algorithmic stablecoin projects have come to the fore in recent years, although fiat-backed stablecoins such as Tether (USDT), USD Coin (USDC), and True USD (TUSD) capture most of the volume. While the concept of dollar-pegged stablecoins is easy to grasp, algorithmic stablecoins are a little more complex. Essentially, they are cryptocurrencies which attain price stability by algorithmically expanding the coins circulating supply to reflect market behavior.

Take Timvi (TMV), for example, an ERC20 token whose algorithm and collateralized algo-stablecoin targets a $1 price to mitigate volatility and breed investor confidence. The security token relies on ETH deposits by participants in the ecosystem, and proprietary financial instruments such as Tbox (an analogue of an interest-free collateral loan), Tbond and Leverage let users earn interest during both bull and bear markets. Timvis algorithm is designed so that the creation of a new Tbox (a blockchain-based account which converts ETH to TMV) does not cause a decrease of the global collateral below the target value.

What if ETHs price drops and impacts the collateral in Tbox, you might wonder. In this circumstance, the Tbox owner must recapitalize by depositing ETH or TMV. If they fail to do so, the Tbox is deemed toxic and other users can step in and do the honors, recapitalizing while earning an ETH commission of 1-6% of the pledged amount.

Reserve is another much-hyped algorithmic stablecoin, backed by high-profile investors such as Coinbase, Peter Thiel and DCG. Messari dubbed Reserve one of their top projects to watch in 2020. Like Timvi, the stablecoin system employs algorithms to manipulate supply and maintain its price ($1), striking a neat balance between stability, decentralization and profitability. Reserve is staffed by a team of 20 including Google and OpenAI veterans, and is advised by Patomak Global Advisors, led by former SEC Commissioner Paul Atkins. Algorithms can also be seen at work regulating ecosystems such as Makerdao, to control its dai issuance and collateralization, and to adjust the supply of Sagas SGA token.

In the old days, traders congregated on the floor of exchanges, barking into phone receivers and making elaborate hand signals. With the advent of electronic markets, however, trades could be executed with algorithms rather than humans, taking much emotion and impulse out of the equation. Such algorithms enabled traders to trigger trades at the optimal price, accounting for factors such as trade size, time of day and market status.

High-frequency trading (HFT) is as popular a strategy in the cryptosphere as it is on the stock market. A subset of algorithmic trading, this high-speed process sees traders utilize algorithmic programs to exploit modest price discrepancies in the markets. Oftentimes, HFT firms will go so far as to situate their trading servers in close proximity to exchanges matching engines to win an edge in speed and make off with handsome profits on arbitrage. This can even be facilitated by the exchange in question, at no extra charge; last year, Singapore platform Huobi began offering this arrangement known as colocation to high-frequency traders, who could expect to make trades 70 to 100 times faster than other users. Gemini and Erisx also offer colocation, hoping it will mean traders choose to do business with them rather than competitors.

Of course, algorithmic trading encompasses a vast range of strategies from time-weighted average price (TWAP), wherein crypto traders seek to buy or sell a fixed amount of an asset gradually over a period of time, to iceberg, where they buy/sell large orders of an asset without revealing the orders true size to the rest of the market. It is difficult to imagine a modern financial market operating without algorithms.

Crypto forensics firms such as Chainalysis utilize proprietary algorithms to monitor and flag suspicious or fraudulent transactions on exchanges, as well as to identify certain individuals operating in the cryptosphere on behalf of hawkish lawmakers and legislators. One software, Chainalysis KYT (Know Your Transaction), tracks transactions made on exchanges using digital assets such as bitcoin, litecoin, ethereum, bitcoin cash, and TUSD.

Firms like Chainalysis are increasingly being tapped up to help crypto platforms achieve regulatory compliance, particularly pertaining to Anti-Money Laundering (AML) processes. They are also employed by government agencies including the Department of Homeland Security, the Drug Enforcement Agency, and Europol, all of whom are desperate to de-anonymize crypto users often with little justification. Its little wonder pro-privacy advocates are concerned about the long-term effects of such incursions. By all accounts Chainalysiss algorithms are incredibly effective, which is why you might want to think about using a coin-mixing service to preserve your privacy.

Fittingly, privacy advocates are hitting back with algorithms of their own; Samourai is developing a tool called Solomon, a smart UTXO selection algorithm that takes the past history of UTXOs as well as user initiated tags into account when composing transactions. It will automatically choose the best UTXOs to combine for optimizing each transaction. As privacy proponent and bitcoiner Lauren MT explains:

Solomon is based on the observation that the cat and mouse game between bitcoin wallets and chain analysis tools is highly asymmetric. CA tools have an almost perfect memory (the blockchain) while wallets are mostly amnesic when it comes to coin selection the first goal of Solomon is to give a memory to the UTXOs controlled by the wallet.

To the developers, this memory provides a more formal tool for reasoning about the benefits/limitations of a specific coin selection algorithm. To the users, it provides useful feedback about the wallet (for manual coin selection, etc) and for the wallet itself, it provides information that can be used by the coin selection algorithm.

The future is algorithmically controlled.

What other algorithms control key parts of the cryptosphere? Let us know in the comments section below.

Images courtesy of Shutterstock.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see whats happening in the industry.

Kai's been manipulating words for a living since 2009 and bought his first bitcoin at $12. It's long gone. He specializes in writing about darknet markets, onchain privacy, and counter-surveillance in the digital age.

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The Algorithms That Control the Cryptocurrency Market - Bitcoin News

The cryptocurrency market is full of optimism once again. Bitcoin and all major altcoins are growing strongly with bullish trend seem to be gaining momentum. BTC/USD rushed above $9,000 and hit the intraday high at $9,126. Both ETH and XRP smashed important resistance levels and continued the upside quest. The total capitalization of all digital assets in the circulation jumped to $260 billion, while an average daily trading volume is registered at $130 billion

The positive news from South Korea might have become the last straw that pushed the market outside the ranges. The News Asia reports that the Parliament of the South Korea passed an amendment to the Act on Reporting and Use of Specific Financial Information, which signals that cryptocurrency trading and holding will become a part of the legal system. This development is expected to lead to a complete revamp of the domestic blockchain industry.

Once the amendments are approved by the president, a year-log of enactment process will start. Once it is over, the companies will have six-months of a grace period to ensure the compliance with the requirements. Allegedly, blockchain and cryptocurrency companies shall bring their operations in full compliance with the regulatory requirements by September 2021.

A flow of positive news, including yesterday's announcement that India's Supreme Court cancelled the ban on cryptocurrency trading, caused the industry players jump with joy.

BTC/USD is moving fast towards the next important resistance of $9,250, created by a combination of SMA50 daily and 23.6% Fibo retracement for the downside move from July 2019 high to December 2019 low. It is closely followed by $9,300. Once it is out of the way, the upside is likely to gain traction with the next focus on $9,600.

ETH/USD gained nearly 4% since the beginning of Thursday and hit $234.65, which is the highest level since the beginning of March. The next strong barrier comes at $245.70. It is created by SMA100 4-hour and followed by psychological $250.00.

XRP/USD managed to break free from the range and hit the intraday high of $0.2429.

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Cryptocurrency market rallies with gains across the board as South Korea allegedly legalizes crypto trading - FXStreet