Google Bans Cryptocurrency Advertising, Ripple Loses Lawsuit: Best of the Week

Catch up on last week's top stories.

South Korean authorities seize cryptocurrency exchanges

South Korea took over three different cryptocurrency exchanges following accusations of embezzlement.

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The authorities did not release the details of the alleged offenders, but the move is seen as being part of a wider crackdown.

Google bans cryptocurrency advertisement

People had been suspicious for some time, but last week it was confirmed: Google is joining Facebook in banning all cryptocurrency advertisement.

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The cryptocurrency industry relies heavily on Google for publicity; companies will now have to find other channels to promote themselves.

Forex and the Google ban

Google has ordered that forex entities gain approval before they advertise on the platform, and completely banned affiliate advertising for brokers.

Nicc Lewis analyses the effect that this is likely to have on the brokerage industry.

Ripple loses lawsuit

R3 sued Ripple over 16 billion dollars’ worth of XRP tokens in three different US courts, and Ripple has now lost two of those suits.

All that remains for Ripple is to fight the case in Manhattan – which is in the home state of R3.

Plasma Cash

Vitalik Buterin introduced a new blockchain concept which could solve the problems of scalability and security, called Plasma Cash.

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It works by assigning an individual coin to all transactions, meaning that all transactions are personalised and come with a full transaction history.

Ayondo files $100 million IPO

Germany-based social trading brokerage Ayondo filed for a listing on the Singapore Stock Exchange. Trading is expected to begin on the 26th of March.

The company aims to make $16 million through the IPO, which will bring its market capitalisation to $130.7 million.

FXCM retains position in 2017

Finance Magnates Intelligence published an analysis piece in which it is revealed that US-broker FXCM remains in the top 5 non-Japanese brokers with an average volume of $194 billion in 2017.

The company recently added the words ‘a Leucadia company’ to its brand, reflecting the loan that helped it survive the 2015 crisis.

Binance to launch blockchain and new cryptocurrency

Binance is one of the biggest cryptocurrency exchanges in the world, and it is planning to get even bigger with plans to launch a new blockchain platform called ‘Binance Chain’ and an upgraded version of the Binance Coin.

The exchange said in a statement: “After extensively researching decentralized exchange frameworks and analyzing existing implementations, we believe significant improvements can be made in providing Binance users with a level of trading experience to which they are already accustomed.”

Interview with CEO of ThinkCoin

ThinkCoin is the new blockchain project from mobile trading firm ThinkMarkets. It plans to launch the ICO in April of this year, and hopes to raise $50 million.

We spoke to Nauman Anees, CEO of ThinkCoin, about the ins and outs of the new project, covering the subjects of liquidity, sustainability and regulation.

 

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