MyCrypto, an open source interface that simplifies the process of storing, transferring, and receiving digital assets, today announced that it had bagged $4 Million from Polychain Capital. MyCrypto offers a set of tools that help users create new wallets and sell, buy or trade virtual currencies. Other investors who participated in the funding round include Ausum Blockchain Fund, Boost VC Fund 3, Mainframe’s Mick Hagen, shapeshift, Earn’s co-founder Lily Liu, Albert Ni Dropbox’s first employee and Chance Du of Coefficient Ventures. The company intends to develop a consumer-friendly gateway for cryptocurrency users. This round of funding comes at a time…

Iran’s initiative to launch a national digital currency has reached to the final stage of development. The project related draft was requested by President Hassan Rohani, the local Financial Tribune news center reported on Saturday, according to a government statement. Deputy Director responsible for regulation drafting for High Council dedicated to cyberspace, Mahdiyoun Saeed, reportedly told IBENA, an Iranian news agency, that the draft is prepared and will be soon lawfully publicized. He added that the proposal of introducing a national cryptocurrency has been actively chased at recent council meetings. Iran’s judgment to build up a national digital currency was…

The UK government is investigating ways to use Distributed Ledger Technology (DLT) to protect digital evidence and identity information, according to a blog post published on August 23. HMCTS (Her Majesty’s Courts and Tribunals Service) and Cabinet Office’s Open Innovation team agreed on a meeting on the use of DLT in securing digital evidence. Author of the blog, Balaji Anbil, head of HMCTS’ Digital Architecture and Cyber Security team, says that the service is renewing new techniques for traditional procedures such as sharing evidence, managing identities, and offering more control over identity data. At the meeting hosted Dr. Sadek Ferdous,…

The very-first cryptocurrency exchange compliant is supposedly going to be unveiled by a UAE-based firm, ADAB Solutions, with Shariah law. The assignment is opportunely given the title the First Islamic Crypto Exchange (or FICE). This cryptocurrency exchange will function worldwide and it aims to advance the participation of Muslims and Islamic finance users in the market for the cryptocurrency. Reportedly, this will turn out to be the foremost digital asset exchange that will be executing the transactions in keeping with the rules of the Islamic finance. CEO and founder of ADAB solutions, Timur Turzhan, said, “Thoughts that match up to…

The steep price fall of Ethereum sustained on August 14 as the complete cryptocurrency market carries on to drop. Ethereum has fallen just over 10% at 4.22 p.m. BST to $253.35. The existing sell-off started on August 13, when Ethereum fell to an 11-month low. As reported by Bloomberg, the fall was flashed by startups that had gathered financial support in Ethereum via purported ICOs (initial coin offerings) at present cashing their assets into traditional fiat money they can use on development. The rise and fall in prices of digital currency has been quite unpredictable. For instance, a spike can…

A cryptocurrency investor and entrepreneur, Micheal Terpin has sued AT&T and alleged that company failing to secure the mobile data has lead to hacking of cryptocurrencies worth $24 Million. In a lawsuit filed by Greenberg Glusker in Los Angeles on August 15, Terpin claimed that AT & T employees were complicit in a fraud for sim swap. In this type of fraud, criminals claim to be the owners of their victims’ mobile phone numbers, convincing telecommunications providers to give them access to their phones. This gives them access to the victim’s accounts in various services, including cryptocurrency portfolios as well.…

 In the past few months, cryptocurrencies have witnessed quite a lot of problems and the times seem to have got tougher as compared to last year or even the beginning of this year. Owing to the serious frustration in case of the investors because the cryptocurrencies have actually taken off as payment methods recently, these are trading lower and not just by a small margin but by as much as 70 percent, as compared to the highs that were witnessed in January. This indeed is a huge problem for the people dealing with the cryptocurrencies. Based on a report that…