Bitcoin

Bitcoin Daily: Hyundai-Backed Co. Teams With CasperLabs For Blockchain Project; Blockchain Marketplace Launches For DTC Brands

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Blockchain company Hdac Technology, which is backed by Hyundai, announced that it has entered into a strategic partnership with startup CasperLabs to work together on research, as well as consensus mechanisms and seamless integration, between their respective blockchains.

According to CoinDesk, the partnership will initially focus on joint technology development of consensus mechanisms, with the firms sharing research and technical support. Hdac currently has its own Proof of Work blockchain, while CasperLabs is working on a Pure Proof of Stake blockchain.

In other news, more than $8 million worth of bitcoin that was stolen from crypto exchange Binance has recently been moved in two transactions.

On Monday (July 8), Hard Fork reported that a combined 707.1 bitcoin was sent from one of the hacker‘s bitcoin wallets to a separate pair of addresses. The news comes after Binance was the victim of a sophisticated cyberattack in May, where hackers stole 7,000 BTC (then worth $40 million; now worth $83.5 million) in a single transaction. The following month, the hackers moved some of the bitcoin in a series of transactions, splitting it across seven separate addresses.

And U.S. regulators have issued guidance on how securities rules should apply to digital tokens.

According to a joint statement Tuesday (July 8) by the Securities and Exchange Commission and Financial Industry Regulatory Authority, crypto brokers storing customer holdings need to separate them from firm assets, keep accurate books and records and might have to use a third-party custodian.

In addition, the regulators revealed that they have been holding discussions with market participants to determine how custody rules might apply to crypto technology.

“Anything that provides clarity on what the SEC rules are relative to cryptocurrency is great for the industry,” Lou Kerner, a partner at CryptoOracle, said in an email statement, according to Bloomberg. “Given the uncertainty, most crypto companies have been counseled to stop issuing or trading tokens in the U.S. That’s closing a massive market to the industry, depressing demand.”

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