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Indian Supreme Court Hearing Continues in the IAMAI vs RBI Case | Cryptoknowmics

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Cryptoknowmics News Headlines for 16th January, 2020

1. Venezuelan President Coercing Airlines to Purchase Fuel Using Petro

Venezuelan President Nicolas Maduro has recently decreed airlines to purchase fuel via Petro. The move has come days after it was widely reported that the Venezuelan government was forcing merchants to accept Petro at discounted rates.

2. China Launches New Blockchain-based Initiative for Car Rental Service

China has launched the first blockchain-based initiative that uses facial recognition to complete the process. The new process will simplify the tedious process that is often associated with renting a car, involving attendants, and several documents.

3. Bitwise Pull Out Bitcoin ETF proposal

Cryptocurrency management firm Bitwise has withdrawn its Bitcoin Exchange-Traded Fund proposal. The US Security and Exchange Commission said that Bitwise had clarified that the move was taken to protect investors.

4.   Silvergate Bank and Bitstamp Collaborate for BTC Leverage Product

US-based Silvergate Bank has recently announced that it would partner with Bitstamp for the launch of its new BTC leverage product. The product, named SEN Leverage, would be based on the Silvergate Exchange Network and allow institutional clients to trade collateralized Bitcoin with leverage offered by the platform.

5. UN Sanctions Expert Warns People To Stay Away From North Korean Crypto Conferences

United Nations sanction expert has warned people to refrain from attending the upcoming North Korean blockchain and cryptocurrency conference in February. The expert said that the people attending the event would be breaking federal law as the conference would be a clear case of sanction violation.

6. Blockchain Could Save UAE Over $3 billion

A white paper published by the Centre for the Fourth Industrial Revolution, the World Economic Forum, and the Dubai Future Foundation, suggests that deploying advanced blockchain could save the UAE at least $3 billion. The report highlighted that blockchain adoption would terminate about 398 million printed documents and 77 million work hours every year.

7. Indian Supreme Court Hearing Continues in the IAMAI vs RBI Case

In the latest hearing of the legal battle between the Reserve Bank of India and Internet and Mobile Association of India, the Supreme Court asked the councils to begin their arguments from the beginning. The hearing has been going on for over a year now, with the latest hearing starting on January 14th.

8.United States Congress Examine Role of Crypto in Funding Hatred

The US House of Financial Services Committee voiced concerns over the increased use of cryptocurrencies to fund domestic terrorism in the country. The officials also highlighted the role that cryptocurrency has played in propagating hate crimes.

9.SEC Warns Crypto Investors on IEOs

The U.S. Securities and Exchange Commission (SEC) has warned crypto investors about Initial Exchange Offerings (IEO). Through its Office of Investor Education and Advocacy, the Commission advised investors to be cautious while investing in initial exchange offerings.

10.Voyager Lists Three Stable Coins

Licensed crypto broker Voyager has listed three stable coins on its platform, namely Tether, USD Coin, and True USD. The step will enable traders to manage risk and funds associated with the accounts without going to the bank.

Here are some other important ones from the crypto space:

“Corner the Market”, Explained by an Old Excerpt of Satoshi Relates to BSV

ADAN Launches European Association For Digital Assets Usage

Bitcoin Will Hit $40,000 This Year- Ex-Goldman Sachs Partner

Top 5 crypto Gainers:

1Acute Angle Cloud203.14%
2Game Stars201.23%

Top 5 crypto Losers:

3VinDax Coin(VD)-36.40%
4DAV Coin(DAV)-29.09%
5DUO Network Token(DUO)-28.58%