Slush Pool Operator Braiins Set to Rollout Upgrades


Braiins, a cryptocurrency mining pool operator based in Prague, is rebranding its company’s operation and bringing all of its products under a single umbrella.

Updates Are Coming

Braiins is the company behind Slush Pool, the original cryptocurrency mining pool with a hash rate of 5.32 Eh/s, per its website. After operating in the mining sector for some years, it appears to be set for a brand makeover and it’s pushing out some upgrades for its popular products — Slush Pool and Braiins OS.

According to Braiins Creative Director Luboš Buračinský, Slush Pool customers should expect upgrades on the payout processes and the inclusion of more tokens.

“For Slush Pool, we are about to release a completely reworked payout section,” he told Bitcoin Magazine. “The new features allow for much more in terms of payouts settings when it comes to frequency, destination, payout conditions, etc. Furthermore, we will add support for more coins. And of course, we continually keep adding tweaks to the product UX.”

Braiins OS, on the other hand, will include a feature that allows users to install it from a memory card onto a flash memory.

Braiins launched Braiins OS in 2008. At the time, Jan Čapek, the company’s CEO, was driven by the need to create an open-source alternative to the closed-source mining firmware being used with Slush Pool. The initial release was targeted at mining devices only, but it has evolved since then.

“Retail miners should find this especially useful, now that certain hardware manufacturers decided to permanently restrict access via [cryptographic network protocol Secure Shell],” Buračinský said.

Speaking on the rebrand, Čapek praised the company’s efforts in recent years.

“We have continuously worked to redefine the mining industry and set new standards throughout the past six years,” he said. “Slush Pool, Braiins OS, and any future products we might release require unified and smooth branding that will tell the world who built them.”

Braiins has undergone several changes since taking control of the mining pool, expanding its product portfolio significantly to meet the demands of an ever-increasing customer base.

Holding Its Own

While a number of mining companies have closed shop thanks to the recent crypto winter, Braiins has been able to weather the storm and come out stronger.

“We suppose a lean operation and generally crypto-neutral local environment makes it a little easier for us,” said Buračinský. “As for the growth, I think it’s fair to say we saw certain growth following the BTC exchange rate improvement. Not to forget, the user churn typically also reflects the decrease thereof.”

Indeed, Prague is one of the most crypto-friendly cities in the world. It currently boasts over 150 venues where bitcoin can be used as a means of payment including bars, hotels and restaurants. The Czech government is relatively liberal when it comes to cryptocurrency policies. The Czech central bank even published a document in 2017 called “Don’t Be Afraid of Bitcoin,” in which it noted that crypto doesn’t offer any threat to conventional banking.

This article originally appeared on Bitcoin Magazine.

Australian Government Publishes Update on Cryptocurrency and ICO Rules

Sydney Australia

The Australian Securities and Investments Commission (ASIC) has published an update on how it intends to regulate crypto-related businesses and initial coin offerings (ICOs).

In this guideline, the financial regulator outlines requirements that need to be followed for cryptocurrency businesses to be compliant with the ASIC Act.

This update is noteworthy as the country continues to battle crypto scams, losing almost $4.3 million in 2018.

Going forward, companies issuing crypto assets deemed to be financial products will be required by law to procure an Australian Financial Services (AFS) license. On the flipside, for crypto assets which aren’t financial products, promoters must ensure that they don’t engage in any form of deceptive advertising.

According to the Corporations Act, an ICO could be a financial product if it’s a “managed investment scheme, security, derivative or non-cash payment (NCP) facility,” ASIC explains.

Exchanges that manage and offer trading of these assets would also be required to follow the new guidelines, including holding an Australian market license, unless covered by an exemption.

In instances where miners could be considered as a part of the clearing and settlement processes for financial products, Australian laws will apply.

In part, the release notes, “Businesses offering crypto-assets, or offering services in relation to crypto assets, need to undertake appropriate inquiries to satisfy themselves they are complying with all relevant Australian laws.”

Crypto wallet and custody service providers would need the appropriate custodial and depository authorizations to operate, while crypto asset payment and service providers involved in non-cash payment facility require an AFS license.

The agency pointed out that it would be enforcing know-your-customer and anti-money laundering standards on all crypto assets. These cover assets managed within and outside of the country’s borders in tandem with the Australian Consumer Law.

ASIC Commissioner John Price said, “Australian laws will also apply even if the ICO or crypto-asset is promoted or sold to Australians from offshore. Issuers of ICOs, crypto-assets and their advisers should not assume the use of these structures means that key consumer protections under Australian laws do not apply or can be ignored.”

This article originally appeared on Bitcoin Magazine.

Cryptopia Turns to a U.S. Court for Account Holder Data Protection


In the latest development over its security breach, cryptocurrency exchange Cryptopia has filed for bankruptcy protection in the U.S.

The New Zealand-based exchange, which has been dealing with the fallout of a January 2019 hack, went into liquidation and stopped all trading earlier this month. Cryptopia’s assigned liquidator, Grant Thornton, then petitioned the Southern District of New York’s bankruptcy court to seek recognition of this liquidation and protect exchange data stored on servers by a firm in Arizona.

Per a report from Bloomberg, the unnamed firm had terminated its agreement with Cryptopia and was seeking $2 million in compensation for its services. Cryptopia’s liquidators secured the bankruptcy order from the Southern District of New York, ensuring that the firm’s data are intact through a provisional relief that will last until June 7, 2019.

“The interim order preserves the Cryptopia data, which includes a SQL database containing all account holders’ individual holdings of cryptocurrencies and the account holder contact details,” the update from Grant Thorton reads. “Without this information, reconciling individual holdings with the currencies held by Cryptopia will be impossible.”

This development closely follows news that Cryptopia’s founder has launched a new exchange.

This article originally appeared on Bitcoin Magazine.

AT&T Now Accepts Bitcoin

AT&T News Bit

AT&T customers can now use bitcoin to settle their bills online.

According to a press release from the Dallas-based mobile carrier, customers who want to use cryptocurrency to pay their bills can do so by selecting BitPay as a payment option on the myAT&T app or when they log in to their account. BitPay is a popular crypto payment service that helps businesses accept cryptocurrencies for payments online.

“It’s exciting for BitPay to support AT&T as it moves to accept bitcoin as a payment option,” Sonny Singh, BitPays chief commercial officer, told Bitcoin Magazine. “Bitcoin lets customers pay from anywhere in the world quickly and easily.”

For AT&T’s part, adding BitPay as a payment option gives its customers more flexibility.

“We’re always looking for ways to improve and expand our services,” said Kevin McDorman, vice president of AT&T’s Communications Finance Business Operations, per the release. “We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.”

This article originally appeared on Bitcoin Magazine.