Top News Daily 05.09.2018

- Crypto Mining Accepted as an Industry by Iranian Authorities

The Secretary of Iran's Supreme Cyberspace Council revealed that various ministries of the country’s government have accepted crypto mining as an industry, local news agency IBENA reports. According to the report, the Cyberspace Council’s secretary Abolhassan Firoozabadi stressed that the mining of cryptocurrencies such as Bitcoin (BTC) has been approved as an industry by major government authorities. However, official legislation forming a legal framework for the industry has yet to be introduced in the co

- Abra CEO: SEC Denies Bitcoin ETFs Because Applicants Do Not Fit Industry Archetype

The reason the U.S. Security and Exchange Commission (SEC) has insofar denied crypto exchange traded funds (ETFs) is because the crypto industry does not fit the applicant archetype, according to the CEO of crypto payment startup Abra, CNBC reported. Speaking in an interview with CNBC’s “The Coin Rush,” Bill Barhydt suggested that the SEC has rejected crypto ETF applications because “people who are doing the applications don't fit mold of who the SEC is used to approving."

- Crypto Exchange ShapeShift to Gradually Introduce Membership Program

Cryptocurrency exchange ShapeShift has introduced a new rewards program, which will eventually become a mandatory membership model for the exchange’s users, according to an announcement. Erik Voorhees, founder and CEO of ShapeShift, stated that today the exchange released a loyalty program entitled ShapeShift Membership. While ShapeShift is known as “the exchange without accounts,” the newly developed account-based membership model will be integrated in order to “reduce friction and protect customers.”

- Goldman Sachs Said to Have Sidelined Plans for Crypto Trading Desk

Investment bank Goldman Sachs has reportedly dropped plans to launch a cryptocurrency trading desk, for now at least. A Business Insider report on Wednesday, citing "people familiar with the matter," said the decision has been made as the regulatory situation in the U.S. is still a gray area when it comes to cryptocurrencies.

- China: Central Bank’s Digital Currency Lab Launches Research Center in Eastern Province

China’s central bank, the People's Bank of China (PBoC), is extending the activities of its Digital Currency Research Lab beyond the country’s capital, local media outlet CNstock reports. The news reveals that the lab has opened a new fintech research center in Nanjing, the capital of China’s eastern Jiangsu province.