News 

As ProgPoW Aimed at Stopping ASIC Mining Gets Supporting Votes, New Conspiracies and Debates Appear

“Using a random task sequence eliminates the possibility of creating a fixed pipeline, as it happens with ASIC miners” writes Julia Magas for cointelegraph.com. The issue is that ASIC miners are designed for one specific task in mind: calculating blocks for mining cryptocurrencies.In ASIC miners, chips are small and the number of registers lags behind graphic processors in performance.The principle of the ProgPoW operation is slightly different from other algorithms that are resistant to ASIC miners.One of them is ProgPoW (programmatic proof-of-work), being designed by Ethereum developers to eliminate the…

Read More
Crypto News 

Decentralization First: Privacy Coin Monero Cuts Out ASIC Miners to Stay Independent

“Monero is a privacy coin, meaning that it is anonymous and untraceable by design” writes Stephen O’neal for cointelegraph.com. Additionally, new dynamic block size algorithm and improved privacy — which is considered to be Monero’s key feature — were introduced.Monero has been pushing out ASIC-powered mining from the XMR network since its birth, but the code has to be updated regularly to ensure that.Eventually, BitMonero was forked and became an open-source project dubbed “Monero” (which means “coin” in Esperanto). Source: cointelegraph.com

Read More
News 

ASIC warns major banks’ fees-for-no-service reviews are incomplete and delayed

“ASIC warns that that most of the institutions are yet to complete reviews to identify systemic FFNS failures beyond those already identified and reported to ASIC since 2013” reports financefeeds.com. The regulator says it will continue to supervise and report on the institutions’ further reviews into FFNS failures.Let’s recall that, since 2014, ASIC has supervised the FFNS compensation programs of 32 Australian financial services (AFS) licensees. Source: financefeeds.com

Read More
Crypto Markets News 

Bitmain Announces Energy-Efficient ASIC Chip for Mining Bitcoin and Bitcoin Cash

“Chinese mining giant and ASIC hardware producer Bitmain has announced its next generation 7nm (nanometer) ASIC mining chip, according to a press release published on Monday, Feb. 18” writes Ana Berman for cointelegraph.com. The new mining hardware, BM1397, is designed for mining cryptocurrencies that use the SHA256 algorithm for their proof-of-work (PoW), such as Bitcoin (BTC) and Bitcoin Cash (BCH).For instance, Japanese internet giant GMO Internet Group revealed it was leaving the Bitcoin mining hardware sector in December 2018, citing the significant Q4 losses.Other major mining companies are also facing…

Read More
AUD GBP News 

ASIC encourages international firms to review their AFS licensing arrangements ahead of Brexit

“Of these firms, 285 UK foreign financial services providers (FFSPs) operate in Australia under an Australian financial services (AFS) licensing exemption” reports financefeeds.com. The Australian Securities & Investments Commission (ASIC) has earlier today posted an update on preparations for Brexit, encouraging firms with global operations to review their AFS licensing arrangements.Among other things, ASIC is seeking to enhance its co-operation with UK financial regulators post-Brexit. Source: financefeeds.com

Read More
AUD News 

ASIC Warns Against Scammers Impersonating the Regulator

“Furthermore, they are not regulated nor licensed by ASIC and therefore, are not authorised to provide financial services within Australia” writes Celeste Skinner for financemagnates.com. Commenting on the scam, ASIC Commissioner Sean Hughes said: “These are sophisticated scams convincing people to part with their money and provide personal information.According to the statement published today, both of these firms are scams. Furthermore, ASIC also advisers residents of Australia to check the regulator’s website to see whether a financial institution holds an Australian Financial Services licence before giving any personal details, such…

Read More
Crypto Markets News 

Just Two ASIC Bitcoin Mining Rigs Remain Profitable in Current Markets

“Updated every minute, the site calculates profit yields for specific miners based on current power costs, network difficulty, block rewards, and cryptocurrency prices” writes Marie Huillet for cointelegraph.com. AMV is a site that calculates real-time profitability rates for “ASIC” miners, hardware that uses Application-Specific Integrated Circuit (ASIC) chips, tailored to efficiently mine cryptocurrency based on a specific hashing algorithm.Amid the cryptocurrency market crash, even the newest crypto mining machines are struggling to seal profits for their operators, according to real-time data published by mining profitability data site ASICMinerValue.com (AMV) today,…

Read More
News 

ASIC Announces Major Changes to Reporting Requirements

“These new criteria will change the way many firms report assets, liabilities, and profits, marking the biggest change to reporting requirements since the adoption of International Financial Reporting Standards (IFRS) in 2005” writes Celeste Skinner for financemagnates.com. The Australian Securities and Investments Commission (ASIC) announced this Monday a series of major changes to reporting requirements by introducing new accounting standards for listed entities and other companies of public interest.The securities regulator warns that it will be reviewing 85 full year financial reports and selected half-years reports on December 31, 2018.In…

Read More
News 

ASIC cancels AFS license of Berndale Capital Securities, bans Stavro D’Amore from financial services industry

“In a similar action earlier this month, ASIC cancelled the Australian financial services (AFS) licence of the retail OTC derivative issuer AGM Markets” reports financefeeds.com. ASIC has also banned Berndale’s ex-director Stavro D’Amore, of Middle Park, Victoria, from providing financial services for a period of six years. Source: financefeeds.com

Read More
AUD Markets News 

ASIC review finds high-frequency traders responsible for 25% of all AUD/USD trading

“High-frequency traders now account for 25% of all AUD/USD trading, down from a high of 32% in early 2013” reports financefeeds.com. High-frequency traders retain a large presence in this segment but their contribution to turnover has fallen from 27% to 25%.The Australian Securities & Investments Commission (ASIC) has earlier today reported on its latest review of high-frequency trading.High-frequency traders are contributing disproportionately to the price discovery process but, at the same time, their contribution is trending down.The number of high-frequency traders in AUD/USD has kept falling but their relative concentration…

Read More