[Comparative to Zaobao] Cryptocurrency exchange Coincheck plans to enter the US market; Google bans cryptocurrency mining programs in its mobile app store

At 7:30 a.m., blockchain news you need to know:

[Cryptocurrency exchange Coincheck plans to enter the US market] According to Cointelegraph Japan's July 27 report, online broker Monex Group is now planning to launch a US-based trading platform after acquiring the hacked Japanese cryptocurrency exchange Coincheck this spring. Monex CEO Oki Matsumoto also said that Coincheck (purchased by Monex in April for about $33 million) will begin full operation next month. Matsumoto initially predicted that Coincheck's trading activities would be opened in June, but it did not obtain a license from Japan's financial regulator, the Financial Services Authority (FSA) at the time of the expected opening, which delayed its opening. As Matsumoto said at the press conference, he is confident of getting a license from the FSA and added that Monex has completed its investment in cybersecurity and internal management.

[Google bans cryptocurrency mining programs in its mobile app store] Google, like Apple, has now banned cryptocurrency mining apps in its mobile app stores. The internet giant revealed a shift in its position in a recent policy update for Google Play developers, according to a report published by industry media agency Android Police on Thursday. “We don't allow apps to mine cryptocurrencies on devices. We only allow apps to remotely manage the mining of cryptocurrencies,” the policy states. In April of this year, after Google discovered that the “vast majority” failed to comply with its single-purpose policy or a malicious attack, Google banned the use of cryptocurrency mining browser extensions in its Chrome online store. Also, just last month, Apple updated its mobile app policy for iOS developers to ban any apps that can be used to mine cryptocurrencies on mobile devices. This limitation appears to be due to the popularity of cryptocurrency mining in the criminal world.

[The top ten cryptocurrencies had an average return on investment of 1,360 times in 2017] According to data from the Crypto Finance Conference (CFC) on July 27, the ten crypto transactions in 2017 returned an average of more than 136,000% per person. Of all crypto projects that raised at least $1 million in 2017, IOTA (MIOTA) received an astonishing 614,934% return for investors, making it the top spot in the researchers' rankings. In second place is Nxt, a blockchain-powered decentralized ecosystem focused on crowdfunding, governance, cloud services, and digital asset exchange. The project's local NXT token investors have a return of over 500,000%.

[Bank of Canada: The central bank will have economic benefits from issuing cryptocurrencies] According to CoinDesk reports, the Central Bank of Canada stated in a document released on Thursday that cryptocurrencies issued by the central bank may bring economic benefits to Canada and the United States. The working paper that came to this conclusion was prepared by Bank of Canada researcher S. Written by Mohammad R. Davoodalhosseini. He said the introduction of a central bank digital currency (CBDC) “could bring consumption growth of up to 0.64% in Canada, and 1.6% in the US, compared to the current cash-only economy.” Davoodalhosseini said that one of the key issues currently being considered by “many” central banks considering issuing CBDCs is whether cash and digital fiat money should coexist. If coexistence is chosen, then how to maintain an “optimal” monetary policy. Based on detailed modeling and mathematical calculations, the researchers pointed out in the paper that, at least for Canada and the US, the country's economic benefits may be better achieved by using CBDC instead of cash, provided that implementing this transformation process is not very expensive.

[US state of South Carolina terminates ban on blockchain venture capital firms] According to CoinDesk, the securities regulator in South Carolina in the US publicly stated in a public document that it has terminated the ban on two blockchain startups. The South Carolina Attorney General's Office, which oversees the state's securities regulation, issued two orders on Thursday announcing the revocation of the May shutdown order on blockchain startup ShipChain and the March ban on mining company Genesis Mining. This is the first time that the state has lifted a ban on the operation of blockchain startups. Previously, regulators believed that ShipChain's token and Genesis Mining's mining contract were unregistered securities.

This article is from Comparative Intelligence. The source must be indicated for reprinting.