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Bitcoin News Summary – August 26, 2019

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Online retailer, Rakuten, often described as the Amazon of Japan, announced the launch of its new crypto exchange app, Rakuten Wallet. Initially, supported cryptos are Bitcoin, Ethereum, and Bitcoin Cash.  The app is available for Android, with iOS coming next month. 

Major crypto derivatives exchange, BitMEX, has barred users from Hong Kong, as well as Bermuda and the Seychelles. BitMEX took the action for compliance reasons, as it has staff and offices in those locations. BitMEX noted that closing trading in those jurisdictions is part of a wider effort to bring transparency to the crypto space as it becomes more regulated.

Cryptocurrency exchange and custodian Gemini, announced they’re expanding their business to Australia. Australians can now download the Gemini Mobile App and use it to buy, sell, and store cryptocurrencies such as Bitcoin, Bitcoin Cash, Ether, Zcash, and Litecoin.

It was reported that several operators at a nuclear power station in Ukraine were arrested by the country’s secret service for mining crypto with the plant’s electricity. The miners compromised the plant’s network which leaked details of its physical security systems. GPUs and other mining equipment were confiscated from the facility.

And finally, in a bombshell speech at the central banker’s conference held in the United States at Jackson Hole, Wyoming, the Governor of the Bank of England, Mark Carney, suggested replacing the US Dollar as the international reserve currency with a cryptocurrency similar to Facebook’s Libra.

 That’s what happened this week in Bitcoin. See you next week. 

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

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