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Bitcoins and Pieces: Taco Tuesday Edition

Blockchain News

  • The Shanghai legal system operators’ blockchain-powered notary platform said the stint has already managed more than 3,000 cases. According to media outlet Jiemian, about 40 firms have registered to use the service since it went online earlier this year, with banks, other significant financial institutions, and “large companies” preparing some 2,200 legal documents paper-free platform. A similar platform has also been developed in Suzhou.

Mining News

  • Bitcoin (BTC) mining difficulty, which is the gauge of how hard it is to compete for mining rewards, has persisted almost unchanged during the improvement on October 4 – it slipped by 0.09% to 19.30 T from 19.31 T.

Crypto News

  • Blockchain support organization Chamber of Digital Commerce Political Action Committee (PAC) will be giving BTC worth $50 to the campaign of each member of the US Congress in a bid to increase awareness about cryptocurrencies and to allow congresspeople to interact with blockchain technology and digital assets. As per the press release, this latest “Crypto for Congress” drive will also present a toolkit and informative online training to engage immediately with cryptocurrencies. The industry is backed by members of the Congressional Blockchain Caucus, including pro-cryptocurrency Representatives Darren Soto and Tom Emmer.

CBDCs News

  • The Estonian central bank, Eesti Pank, announced that it had struck essential agreements with two IT companies as part of a “multi-year research project” into a suggested central bank digital currency (CBDC) launch. In a journalist’s statement, the bank said that it had penned settlements with a domestic blockchain organization called Guardtime and the UK-based SW7 Group to “research how technologically suiting the Estonian e-government core technology is for operating a CBDC.”

Exchanges News

  • Numerous South Korean exchanges are set to join the crypto staking craze. According to the Electronic Times, exchange leaders Bithumb and Upbit have both made official announcements regarding the expected launch of new staking services – and have been succeeded by Neofly, the crypto subsidiary of gaming giant Neowiz. The latter is giving a staking service for Kakao’s Klay token. Others are assumed to follow suit soon, although an industry official declared that a shortage of regulation on the authority or unless of staking means that the trading platforms are actually taking a leap of faith.
  • Bitfinex has advertised today staking compensations for Cardano (ADA). Per the emailed press announcement, ADA joins EOS, cosmos (ATOM), (VSYS), and tezos (XTZ), already available for staking on the platform. Staking allows customers to earn rewards up to 4.3% per year by depositing and holding ADA tokens, the exchange declared.

Career News

  • California and London-based investment administration company Wave Financial Group has extended its team with several new hires, aiming to meet the demand for its digital asset wealth management treasury services and fund product offerings, said the emailed press release. They hired: former Soreco Trading commodity broker and BitBull Capital partner Constantin Kogan as a Managing Director; California-registered investment advisor Jack Lu as a Client Service Analyst; and investment and risk management analyst Uyanga Batbold as a Trading Analyst.

Payments News

  • Italian payments providers Nexi and Sia are set to conclude an alliance that will create one of Europe’s largest fintech groups in terms of merchants servicing. It will have a market estimate of some EUR 15bn ($17.65 billion), reported The Financial Times, citing three people involved in the negotiations. Next is focused on the Italian market, while SIA generates a third of its revenue abroad, with its biggest domestic client being UniCredit.

Security news

  • Companies that promote ransomware payments to cyber actors on behalf of victims, including financial institutions, cyber insurance firms, and companies connected in digital forensics and incident response, not only boost future ransomware payment demands but also may risk infringing regulations, the US Department of the Treasury’s Office of Foreign Assets Control informed in an advisory, issued last week.
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