Indian Crypto Exchanges Engage with RBI to Offer Banking Ban Alternatives

Indian cryptocurrency exchanges have followed the Supreme Courts suggestion for them to present their cases to the Reserve Bank of India. They have sent letters to the central bank, offering alternatives to the R B I banking ban.

Huobi, is announcing the launch of its new public blockchain, the Huboi Chain Project (HCP), the companys spokesperson told Cointelegraph.

In order to create the new blockchain, Huobi will fund the Huobi Chain Superhero Championship Program (HCSCP) with an initial investment of 20 mln Huobi Tokens (HT), worth about $100 mln dollars. Huobi will also contribute a portion of its yearly revenue to the program.

Ethereum Parity Full Nodes Suffer from Another Critical Issue.

On June 6 the company Parity Technologies, the firm that maintains the Ethereum Parity full node client, issued a mandatory update for individuals and businesses who use the Parity software. According to the latest security alert, the client versions, 1.10.6-stable and 1.11.1-beta, had a consensus issue with the public test network Ropsten that could possibly extend to the Ethereum mainnet and “could have led to chain split.”

Exclusive: Worlds Top Crypto Exchange Binance Sets Up Bank Account in Malta.

Changpeng Zhao, the CEO and founder of Binance, revealed the company has set up a bank account in Malta, in an exclusive interview with Cointelegraph Wednesday, June 6th.

The move brings the exchange one step closer to its plans to offer fiat-to-crypto deposits and withdrawals on its platform, a feature that would further improve the exchanges liquidity and facilitate new investors entering the space with fiat purchases.

Development of Lightning Mobile Wallets Promises Faster Bitcoin Payments.

Husband of Bollywood Star Questioned About $300 Mln Crypto Scam Involvement, Denies Allegations.

Raj Kundra, a British businessman and spouse of Bollywood star Shilpa Shetty, was questioned by Indian law enforcement (ED) in connection with Amit Bhardwaj’s alleged cryptocurrency ponzi scheme, Quartz India reports Wednesday, June 6.

Amit Bhardwaj and his brother, Vivek Bhardwaj had been arrested in India on April 4 on the charges of scamming about 8,000 investors out of around $300 mln through their GainBitcoin investment scheme. The platform guaranteed 10 percent monthly returns, a claim not realized by investors, and issued its own MCAP token in an Initial Coin Offering (ICO) that is considered fraudulent due to the companys price manipulation.

Swiss Bank Becomes First in Country to Offer Business Accounts to Crypto Companies.

Hypothekarbank Lenzburg has become the first bank in Switzerland to provide business accounts to blockchain and cryptocurrency companies, Cointelegraph auf Deutsch reported June 6.

While Falcon Private Bank has provided crypto asset management services since last year, Hypothekarbank Lenzburg CEO Marianne Wildi confirmed that they are first bank in the country to open company accounts for blockchain and crypto-related fintech companies. 

100+ Coders Gather in China to Build Apps Tied to the Bitcoin Cash Network.

On June 1-3, 100+ coders gathered together for the ‘BCH Geek’ in Hangzhou, China, an event that focused on developers creating BCH-based apps in order to make “bitcoin cash available to all.” According to regional reports, the event was quite successful and there were a lot of cool applications built specifically to enhance the BCH network.

There are a lot of applications being created for the Bitcoin Cash network and one hackathon, in particular, took place in Hangzhou, China to build more BCH-centric platforms. The BCH Geek event was held on June 1-3 and firms like Bitmain Technologies, Viabtc, and BTC.top were in attendance. According to local reports and BCH-focused forums, the hackathon featured 100+ programmers who produced solid research, prototypes, and applications built using the BCH blockchain. The BCH Geek event was initiated by the blockchain video portal Chongqing TED.CC, and other members of the BCH community.

‘Project Inthanon’: Thailand Will Trial Central Bank Digital Currency.

Thailands central bank chief has confirmed research into a number of blockchain applications in banking including Project Inthanon involving a central bank digital currency used for interbank settlements.

In a speech centered on Thailand’s economy at a financial summit in Singapore on Tuesday, Bank of Thailand (BoT) governor Veerathai Santiprabhob revealed a broad effort to research and trail blockchain technology in various financial applications including supply chain, bond issuance and letters of guarantee.