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Altcoin News

MasterCard And VISA To Classify Crypto ICOs As ‘High-Risk’ And Adopt Monitoring Practices



One of the two most popular payment giants, MasterCard and VISA, recently decided to group cryptocurrency and Initial Coin Offering (ICO) jurisdictions in a new “high risk” category. The crypto news has spread all around the web, mainly driven by the latest fluctuation in the prices of Bitcoin and other altcoins.

First reported by a financial trading news site called Finance Magnates, the news spread like wildfire, especially because MasterCard earlier this year proposed a classification which became public in May 2018.

According to the registry, binary options, CFDs, forex, cryptocurrency options, and ICOs will now fall under a new category labeled as “High-Risk Securities Merchants” starting on October 12 and with the subject to additional monitoring.

This grouping, according to the source, means that chargebacks could now be executed up to 540 days after the actual date of the transaction. As anonymous sources familiar with the matter confirmed, the new classification will reportedly start today – Monday, October 15th.

Aside from MasterCard and its initiative to monitor cryptos, ICOs, forex, and binary options, VISA also stopped supporting crypto debit cards in a partnership with the debit card provider WaveCrest in January 2018, blocking the cards associated with products such as CryptoPay, Bitwala, TenX, Wirex, and others.


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Altcoin News

The 30% Share Battle: Hundreds Of Crypto Exchanges Compete For Market Share

In the latest digital currency news, we are focusing on cryptocurrency exchanges and a new report that shows that there are over tens of thousands of cryptocurrency exchanges around the globe - and only 187 of them are operational and active. The '2018 Research Report on Cryptocurrency Exchanges' issued by Timestamp Capital also points out the following:
“In a stagnant market, the head effect (a Chinese market concept similar to the 80-20 effect) is now more evident for cryptocurrency exchanges. The top 6 exchanges have over 3 billion in trade volume each and takes up 58.9% of the total trade volume. The top 14 exchanges have over 100 million in daily trade volume and takes up 73% of the total trade volume.”
As we can all conclude from the above mentioned, the rest of the two hundred (or so) cryptocurrency exchanges only have in total - less than 30% of the entire market share. Moreover, the visits to these exchanges are declining month by month, just like the bitcoin and altcoin trading activity. Bloomberg had recently reported that the leading exchange, Coinbase, has been hit hard and that its consumers trading activity has decreased by around 80% compared to last December. According to other statistics from CoinMarketCap, Binance trading volume peaked in January 2018 and has fallen 80% since then.
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Altcoin News

Researchers At McAfee Spot A New Russian Malware That Mines Monero And Zcash

Malware has always been able to make headlines on our DC Forecasts crypto news site, mostly because of the dangers associated with their mining activities. In a new research by the computer security firm McAfee Labs, a lethal new cryptojacking malware called "WebCobra" has been proven to steal victims' computing power in order to mine the altcoins Monero and Zcash in a secret way. The spike in the crypto prices has also inspired a new wave of cybercriminals that use malware to cannibalize the unsuspecting victims' computers in order to mine crypto. According to McAfee Labs, the Russian application WebCobra installs the Cryptonight miner or Claymore's Zcash miner depending on the custom configuration of the victim's machine. As McAfee observed:
“On x86 systems, it injects Cryptonight miner code into a running process and launches a process monitor. On x64 systems, it checks the GPU configuration and downloads and executes Claymore’s Zcash miner from a remote server.”
Even though the malware was created in Russia, researchers claim that it has spread around the world - and there have been infections found in Brazil, South Africa as well as the United States. McAfee Labs also warned the users to look out for potential signs from their computers, stating:
“Once a machine is compromised, a malicious app runs silently in the background with just one sign: performance degradation. As the malware increases power consumption, the machine slows down, leaving the owner with a headache and an unwelcome bill.”
This attack is another clear example of why the stockpiling of vulnerabilities by governments is a problem, according to many experts in the field. Meanwhile, cryptojacking has surged by 459% this year alone, according to recent research.
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Altcoin News

New $3 Billion Wipeout: Altcoins Start The Week Poorly

Over the past 24 hours, the cryptocurrency market lost more than $3 billion - going from $212 billion to $209 billion in less than one day. Major altcoins such as Stellar (XLM) and Cardano (ADA) were in the focus of the crypto news, falling from 3% to 6% accordingly. On top of this, Stellar and Cardano were among the three cryptocurrencies alongside Zcash that are expected to be integrated into Coinbase, which is the fourth largest fiat-to-crypto exchange behind Bitfinex, Bithumb and Upbit. Before the listing, there were some tokens such as Basic Attention Token (BAT) and 0x (ZRX) which surged in the range of 100 to 120 percent, doubling their prices. However, they also managed to record large losses afterwards. BAT, for example, saw a drop of more than 36%, going from $0.36 to $0.24. Stellar, Cardano and Zcash all experienced major rallies following their Coinbase listing - which is why investors would likely see a drop in value to come in the next weeks to come. As technical analysts explain, there are different technical indicators that demonstrate a lack of momentum for both Bitcoin and the rest of the market. The volume of Bitcoin, on the other hand, is still up from $3 billion to $4.4 billion from late October, while the daily trading volume of the crypto market is up around 30% from $10 billion to $13 billion.
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Altcoin News

South Korean Exchange UpBit to Launch In Thailand And Indonesia

The popular South Korean cryptocurrency exchange Upbit is planning a new move. As reported on our DC Forecasts crypto news site earlier, the exchange has been making efforts to expand on new markets. This time, however, the company officially announced it move in which it is said to expand in Thailand and Indonesia. Upbit will help Thai and Indonesian people to buy and hold Bitcoin and various altcoins - as well as enjoy the benefits of its exchange with over 130 coins and 24o trading pairs. As one of the largest cryptocurrency exchanges in South Korea, Upbit recently launched an exchange in Singapore - and is now planning to expand to two new territories. According to one publication named Edaily:
“Both countries appreciate the growth potential of the cryptocurrency industry. Thailand and Indonesia are very interested in blockchain and cryptocurrency, so we thought it would be a good thing to have an online presence before launch.”
Operated by Dunamu Inc. which is an affiliate of Kakao Corp. which operates the country's most popular chat app Kakaotalk, Upbit is affiliated with the US exchange Bittrex. As the news outlet shows, the exchange was also planning an expansion move overseas, quoting the CEO stating:
“From the outset of the Upbit business, the company had a blueprint to become a global foreign exchange, not limited to the domestic market.”
The current websites confirm that Upbit will be available in Thailand and Indonesia soon. For Thailand, there will be 131 coins and 241 pairs listed - while Indonesians will benefit from 156 coins and 276 trading pairs, accordingly.
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