HelloGold launches sharia compliant, gold-backed cryptocurrency eyeing Islamic finance markets in Southeast Asia and the Middle East

The Malaysia-based fintech firm’s GOLDX covers all the principles that are the cornerstones in Islamic financial contracts. HelloGold, a Malaysia-based firm disclosed that it has received a sharia-compliant certification for its gold-backed cryptocurrency; it plans on launching its online gold platform in Thailand later this year. GOLDX, its cryptocurrency product which was launched at the…

Antminer s5 Bitcoin Miner interferes with T-Mobile’s 700Mhz LTE network

The following report is the result of a FCC investigation of what is likely to be the first instance of a bitcoin mining operation interfering with T-Mobile’s 700Mhz LTE network. An investigation by the U.S. Federal Communications Commission discovered that a Brooklyn residence’s bitcoin mining operation had interfered with T-Mobile US Inc’s broadband network. In…

Cryptocurrency investors file lawsuit against Coincheck Inc

While Coincheck wants to resume trading once it can guarantee the secure resumption of its operations, investors want to withdraw their holdings so that they can continue trading on other cryptocurrency exchanges. On Thursday, cryptocurrency investors in Japan launched a lawsuit against Tokyo-based cryptocurrency exchange Coincheck Inc in efforts aimed at forcing it to allow…

Insurance for bitcoins – a nascent industry

Weighed down by cyber heists, insurers are gingerly tip toeing around the bitcoin business. Despite daunting challenges and the volcanic volatility of cryptocurrencies, global insurers, including Mitsui Sumitomo Insurance, XL Catlin and Chubb, are increasingly being drawn against swinging prices of cryptocurrencies and are starting to offer protection against thefts. Although, so far, their efforts…

House Fournie: a seamless mingling of haute couture and cutting edge technology

Here is how this France-based house of haute couture aims to make, a subtle and yet distinct statement, in tomorrow’s launch of the Paris’ Spring/Summer Haute Couture Week. French haute couturier Julien Fournie is one of those new age designers who effortlessly bridge the ancient art form of hand-stitched silk gowns with modern cutting-edge 3D…

Investors troop in on ETS that invest in bitcoin’s underlyig technology

Investors who are averse to investing in bitcoins have now the opportunity to tap the excitement surrounding the cryptocurrency by investing in ETS that invest on blockchain technology to cut costs. Investors looking to tap the excitement surrounding bitcoin technology are likely to get a new opportunity this week since from Wednesday, the shares they…

South Korea’s FSC and FSS carry out joint inspections on 6 banks trading in virtual currency

Institutions found not in compliance faces penal measures, including shutting down of operations. On Monday, South Korea’s financial regulator stated it has jointly carried out inspections on six local banks that offer virtual currency services, including opening of accounts, to institutions. In a press conference, South Korea’s Financial Services Commission (FSC) and Financial Supervisory Service…

South Korea to impose measures to reign in runaway speculation in Bitcoin

Among the measures South Korea will take is baning the anonymous opening of cryptocurrency accounts; the measures will also have legislative backing. On Thursday, the South Korean government said, it will impose additional restrictions in order to reign in wild speculation in Bitcoin, a cryptocurrency, that is being traded within the country. “The government had…

Cyber security researchers attribute string of recent cyberattacks on virtual currency exchanges on North Korea-backed hackers

With much of its exports to China being blocked by U.N sanction, an impoverished and increasingly cornered North Korea has taken the cyber route to enriching itself. With the recent surge in the price of bitcoins, cyber security experts opine the net worth of its stolen tokens amount to $82 million. With more international sanctions…

South Korea’s Youbit announces bankruptcy following 2nd hacking attack this year

While the 1st attack has been linked to North Korea’s spy agency, South Korea’s KISA along with local law enforcement agencies have begun investigating the hack in which 4,000 bitcoins were stolen. On Tuesday, Youbit, a South Korean cryptocurrency exchange disclosed, it was shutting down for bankruptcy following a second hacking attack this year. The…