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Roundup – 11/03/2019 – Brazilian Court Rules Santander to Return Frozen Funds to Exchange & more

Brazilian Court Rules Santander to Return Frozen Funds to Exchange

The Brazilian court of the state of Sao Paolo has ordered the Banco Santander to refund the cryptocurrency exchange Mercado Bitcoin the sum of R$1,350,733 (around $350,000). The bank had frozen the account of Mercado Bitcoin indicating that the exchange violated its policies. The court of Sao Paolo has ruled last Wednesday that the froze was unjustified and that Banco Santander needs to return the frozen funds. In addition to that, the bank has to pay an interest rate of 1% per month and all legal fees of Mercado Bitcoin. The court already dismissed an appeal to the ruling by the bank.

Monero Upgrade Improves ASIC Miner Resistance, Security + User- and Developer-Friendliness

Monero has successfully upgraded its protocol. The development team announced the upgrade on 2nd March and successfully conducted it on the 9th March. The upgrade includes ASIC miner resistance, a fix to the dynamic block size algorithm which had a vulnerability that enabled a so-called Big Bang Attack, the implementation of encrypted transaction IDs and the simplification of amount commitments to Monero’s code. You can read up on the details of the update on Monero’s reddit.

FCA: 70% Of UK Crypto Investors Have A ‘Get rich quick’ Motive

The UK Financial Conduct Authority (FCA) has just revealed the results of a qualitative and quantitative comprehensive research pertaining to the behavior of Cryptocurrency investors. The findings show that 70% of Crypto investors have a ‘get rich quick’ incentive which has ‘potential harm’ to their financial portfolio. The risk factor of relying on expected bull cycles as a basis of investing is that these affected investors fail to research before buying and therefore end up acquiring Digital Tokens that they know very little about. Instead, the only source of information that these Crypto buyers rely on is cited from social media influencers, friends, and acquaintances.

Read more.

Swiss Online Bank Swissquote Will Offer Crypto Custody

Swissquote has partnered with the Crypto Storage AG. A Swiss Startup that focuses on storage solutions for cryptocurrencies. This partnership will enable Swissquote to offer custody for crypto assets to private and institutional investors. The Swiss Bank has already partnered with Bitmain last year to offer trading cryptocurrencies. However, a lack of knowledge of their customers on how to store the asset seems to have created the demand for a custody service.

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