Blockchain News 30.07.2018

Greek court to extradite Alexander Vinnik to Russia for laundering $4B through BTC-E

A court in the Greek city of Thessaloniki has granted the second request for the extradition of Russian citizen Alexander Vinnik, filed by the Russian Prosecutor General’s Office. His lawyer Timofey Musatov said “The court has ruled to extradite Alexander Vinnik to Russia.”

Vinnik had been detained in Greece on July 25th, 2017, at the request of US authorities, charging him with a number of offenses including laundering $4 billion dollars through the now defunct BTC-E exchange.

Australian bank claims success in global trade blockchain trial

The Commonwealth Bank of Australia (CBA) completed a cross-border shipment that utilized blockchain to track goods in the supply chain. The multinational, one of Australia’s “Big Four” banks, said that 37,000 lbs of almonds were shipped from Australia to Germany, & were tracked via a private blockchain platform developed by the bank. Participating nodes of the blockchain system included key parties along the supply chain, such as agriculture producer Olam Orchards and logistic carriers, as well as port operator Patrick Terminals and the Port of Melbourne.

The CBA said the blockchain-based system stores the data of containers, documents and financial transactions on a distributed network. As such, different partners can simultaneously view and track information about a shipment in real-time – data including the shipment’s status or the temperature and humidity of the containers. The bank said it aims to continually invest in blockchain & then stated “This level of data provided partners in the supply chain with a greater level of transparency and efficiency regarding the location, condition and authentication of the goods being transported.”

SEC Commissioner says Bitcoin is regulated & mature enough to have an ETF

Shortly after the SEC rejected the Bitcoin exchange-traded fund (ETF) application filed by the Winklevoss twins on July 26th, SEC commissioner Hester Peirce expressed her disappointment with the decision of the agency to reject the Bitcoin ETF. She noted that Bitcoin, as an asset, is regulated and matured enough to be worthy of US markets. “Apparently, Bitcoin is not ripe enough, respectable enough, or regulated enough to be worthy of our markets,” Peirce said regarding an official public statement she published to refute the disapproval of the Winklevoss Bitcoin ETF.

Peirce added that the premature decision of the SEC undermined investor protection by dismissing the institutionalization of the Bitcoin market, which has seen an increase of adoption by regulated financial institutions such as Goldman Sachs, JPMorgan and Morgan Stanley over the past several months. “In addition, I am concerned that the Commission’s approach undermines investor protection by precluding greater institutionalization of the Bitcoin market. More institutional participation would ameliorate many of the Commission’s concerns with the Bitcoin market that underlie its disapproval order,” Peirce said.

TransferGo adds cryptocurrencies to remittance app

TransferGo, a London-based remittance service, has become the first remittance provider to offer a cryptocurrency trading service, and will offer Bitcoin, Litecoin and others, in response to a strong demand for cryptocurrency. Daumantas Dvilinskas, founder and CEO of TransferGo, spoke to the strong demand for cryptocurrencies “Our clients wanted it.” TransferGo has more than 65,000 users and is adding 1,000 new customers daily.

More than 4,000 users have signed up for the new service, which offers support in seven languages, in the first few hours. Dvilinskas said customers will not be sending cryptocurrencies to their relatives in other countries but will be buying them for their own use. Dvilinskas said “As a platform, they’re here to stay, and as a platform, we want to be a very easy and user-friendly way for consumers to get access to these.” He also said Blockchain technology will become the new tool for information exchange in the financial industry.

Kraken Daily Market Report for 29.07.2018


$42.5M traded across all markets today

Blockchain News 30.07.2018


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