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Ethereum Forks, Vontobel Bank, blockchain rules from the PRC

01/15/2019
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  • China_blockchain
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Forks of Ethereum were scam, Vontobel Bank introduces a custodial cryptocurrency service. Chinese authorities have published a final set of rules for blockchain companies.

Forks Ethereum were scam

Immediately, the two forks of Ethereum cryptocurrency were found to be fraudulent. The study found that teams Ethereum Nowa (ETN) and Ethereum Classic Vision (ETCV) are trying to steal the user's private keys. Guarda Wallet came to this conclusion after installing the online applications developed by ETN and ETCV.

On the threshold of hard forks, the Ethereum team urges to be more careful about personal data and not send them under any circumstances. According to the US Securities Commission in recent years, various fraudsters have been able to illegally steal cryptocurrency for a total of $ 3 billion. Moreover, law enforcement officers were able to return to their legitimate owners just over 1%.

Forks Ethereum were scam

Custody Services from Vontobel Bank

One of the largest banks in Switzerland has launched a service for storing digital financial instruments. The Digital Asset Vault service will allow customers not only to store cryptocurrencies, but also to receive additional services. These include the provision of reviews and analytical data from the world of the blockchain, the purchase and sale of tokens.

First of all, the Digital Asset Vault service is aimed at providing services to large investors - banks, brokers and financial companies. They will not have to invest in infrastructure, since Vontobel has already created its own Hardware Security Module (HSM) system. The Swiss authorities are quite loyal to cryptocurrencies, and already in 2018 they allowed the functioning of the Bitcoin ETF fund.

Custody Services from Vontobel Bank

The blockchain regulation rules in China have been published

The supervisor of the PRC has published the final edition of the code of practice for companies in the cryptocurrency industry. Articles in detail regulate business behavior in various situations. The document will take effect from February 19, 2019.

Each company is obliged to undergo mandatory registration within 10 days after the start of work. It is prohibited to provide services on an anonymous basis. At a minimum, the user will be required to verify through the phone number. In addition, companies will be required to provide all data from their servers at the request of the regulator. Therefore, companies must store all information available there for 6 months. Although the new rules are quite tough, they will allow work with cryptocurrencies to be brought into the legal field.

What does China want from business?

The blockchain regulation rules in China have been published

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