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Crypto Weekly - Dec. 7

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A collection of the popular stories from the cryptocurrency and blockchain space this week.

US Homeland Security Dept to probe Blockchain Transactions

The U.S. Department of Homeland Security (DHS) is gearing up to develop applications for blockchain forensic analytics to investigate blockchain transactions. Though it has the capability to address Bitcoin analytics, DHS is more interested in acquiring skills to analyze newer cryptocurrencies, such as Zcash and Monero, which have inbuilt anonymity and privacy protection.

Swiss Crypto Firms to get License to handle up to CHF100 Mln

Blockchain, Cryptocurrency startups in Switzerland can now apply for new "FinTech" license that would allow them to handle public deposits of up to 100 million Swiss francs or around $100 million, according to The Swiss Financial Market Supervisory Authority or FINMA. Starting from 2019, interested parties can apply with the authority for getting the license. The FinTech license allows institutions to accept public deposits of up to 100 million francs, provided that these are not invested and no interest is paid on them.


U.S. Congressman Warren Davidson Plans To Regulate Cryptocurrency, ICOs

Warren Davidson, the U.S. representative from Ohio's 8th congressional district, announced a plan to regulate cryptocurrency and initial coin offerings or ICOs through the federal government, local Ohio news agency Cleveland.com reported. The move would make cryptocurrencies one step closer to getting legality and bring clarity to U.S. crypto regulation.


Brazil's Itaú Partners Standard Chartered To Offer Loans On Blockchain

Brazilian lender Itaú Unibanco teamed up with Standard Chartered to offer small loans, called "Club Loans," across Latin America on a blockchain-powered platform. The two banks have successfully completed the development and proof-of-concept (PoC) for the blockchain platform. The blockchain-powered loans platform was developed based on New York-based blockchain consortium R3's scalable Corda Connect blockchain platform. It is claimed to be the first loan club that uses blockchain platform in Latin America.


ErisX Gets $27.5 Mln Funding Incl. From Fidelity, Nasdaq Ventures

Chicago Cryptocurrency Startup ErisX said it raised $27.5 million from investors including Fidelity Investments, Nasdaq Ventures, and Bitmain, among others. The exchange is expected to launch a "fair and transparent platform" in the digital asset space. In a statement, ErisX announced the closing of Series B funding from an influential group of investors, which also includes ConsenSys and TradeStation Securities' parent company, Monex Group Inc.

Ripple's XRP first to be used for R3's Universal Payments settler on Corda

US-based blockchain startup Ripple's XRP token will be the first payments settlement mechanism to be added to the newly launched New York-based blockchain consortium R3's Universal Settler application to facilitate global payments on Corda. The Corda Settler is an open source Corda-based decentralized application or CorDapp, developed to allow for payment obligations raised on the Corda blockchain platform to be made through any of the world's payment systems.


Bitcoin hits 2018 low amid greater crypto market sell-off

Bitcoin hit its lowest price in 2018 on Friday amid a greater crypto market sell-off. The virtual currency was trading at $3,412, down 11.04 percent over 24 hours, with a market cap of $59.41 billion, according to Coinmarketcap. From its December 2017 peak of nearly $20000, bicoin has fallen by 84.28 percent within a year.

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