Inshorts

Innovate Finance gets a new chairperson. Natalie Ceeney, ex-Financial Ombudsman, will now be in charge of an independent, non-profit organization that serves the financial technology community. The official announcement is expected next week. Ceeney will improve the fintech sector and better its chances of success once the British Isles comes out of the EU.

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Litecoin has successfully deployed SegWit. Litecoin, one of the oldest and biggest altcoins by market cap, deployed Segregated Witness yesterday. The protocol upgrade that was originally developed for Bitcoin and proposed by the Bitcoin Core development team locked in on Litecoin two weeks ago, but was enforced by a majority of hash power on the Litecoin network as of the 11th of May. The Segregated Witness soft fork activated without major issues - though there was an early slip up by the biggest Litecoin mining pool on the network. Litecoin users can now begin using the new style of transaction, and there has been at least one such transaction so far.

Ulmart announced its plans to start accepting bitcoin payments beginning on September 1. Bitcoin payments will not be available for all products listed on the website and the company has not decided which products can be purchased with bitcoin. However, higher-priced items are likely to be targeted first, Ulmart revealed, adding that: "Items such as used cars and apartments, which may soon be sold via the marketplace, will be well positioned for purchase by bitcoin".

BTCChina, Huobi and OKCoin are set to face “administrative punishments” over flouting regulatory norms in the past. The People’s Bank of China will shortly issue the document on the flagship Chinese bitcoin exchanges. The details of the notice of Administrative Punishment is still unknown. The long-awaited regulations governing cryptocurrency exchanges in China are due next month.

A project in rural Norway will use bitcoin as the primary currency. All property in Liberstad will be private. The city will be built on the philosophy of anarchism, the non aggression principle and private property rights. Each individual citizen will contribute in their own way to develop Liberstad. Anyone can buy land via bitcoins during the presale period.

Japanese Internet giant announced the launch of its bitcoin exchange platform. Japanese Internet conglomerate GMO Internet Co., Ltd is set to launch a bitcoin trading platform called “Z.com Coin” on the 24th of May. According to the official statement of the company, development will provide users with ‘virtual currency foreign exchange’ and ‘virtual currency trading’.

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Emmanuel Macron brandishes a bitcoin hardware wallet. The newly elected, left-leaning president of France, Emmanuel Macron, hit the front page of Reddit with a photo of him brandishing a Ledger Blue bitcoin hardware wallet. The photo generated about 1500 up votes.

Vermont passes a new bill updating its money transmission regulation to include digital currencies. The bill HB182 indicates that digital currencies now count as a permissible investment. Vermont’s measure puts it among the likes of New York and North Carolina, which have updated their existing rules to include those of digital currencies.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company.