Day: April 6, 2018

India just cracked down on cryptocurrency. Hard.

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Indian officials are not here for your cryptocurrency games. 

Government officials with the Reserve Bank of India announced on Thursday that, effective immediately, banks would be prohibited from “dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies.”

Essentially, that means people in India are now unable to move money from bank accounts to exchanges in order to buy cryptocurrency. What’s more, if you’ve sold your fat gains for cash, you are no longer able to move that money back to your bank account. Read more…

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Crypto exchange Coincheck, still recovering from $400M hack, sold to online brokerage

Japanese crypto exchange Coincheck, made famously after hackers made off with more than $400 million in digital token NEM, has been acquired.

The company announced today (in Japanese) that Tokyo-based online brokerage Monex Group will buy it in full. The transaction will see Coincheck become a wholly owned subsidiary of Monex.

The deal is a reaction of the NEM hack, with Coincheck recognizing that it needs to strengthen its management system and organization as a whole. That’s in direct response to Japan’s Financial Services Agency, which requested that the exchange make changes in the wake of the January hack — which saw Coincheck reimburse affected users.

Japan is the world’s first market to regulate cryptocurrencies, and the country has given its approval to over 26 exchanges that operate there, both locally and international. The Coincheck incident seems to serve as a wakeup call, however, and authorities clamped down on six others who were told to beef up their organizations to prevent more scandals or security issues. Added that, a number of regulated exchanges have announced plans to team up to create a self-regulatory body to add further scrutiny.

Editor’s note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

Snapchat lenses just got a lot better, if you have an iPhone X

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Attention iPhone X owners: Snapchat is finally making good on its promise to make its augmented reality selfie lenses better.

Today, the company is officially launching a new lineup of lenses that’ve been optimized for the iPhone X’s front-facing TrueDepth camera.

First previewed last fall during Apple’s iPhone X launch event, Snap specially designed the lenses to take advantage of the face-tracking abilities of the iPhone X’s TrueDepth camera. What this means for you, a selfie-obsessed Snapchat user, is that the new lenses will be better able to “stick” to your face, making them look slightly more realistic (or, as “realistic” as a brightly-colored mask can look, anyway). Read more…

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