Luno Implemented SegWit Support

Level of SegWit support in Bitcoin network is still love
15 February 2018   34

Luno, provider of exchange and wallet, added support for the Segregated Witness (SegWit) bitcoting solution. This is reported in the company's blog.

We already implemented SegWit on Bitcoin send transactions in December 2017. This has significantly decreased the Bitcoin network fees that you pay when you send Bitcoin. By implementing SegWit internally, Luno has managed to reduce the send fees paid by customers by over 25% already. As customers start switching over to new SegWit addresses, this will translate into a further reduction in sending fees in the coming weeks and months.

Luno Team

Also representatives of Luno note that SegWit-addresses begin with the number '3', while 'old' legacy-addresses start with 1.

Note that the level of decision-making Segregated Witness in the crypto community is still low. So, according to the service, the share of SegWit transactions in the bitcoin network currently does not exceed 14%.

The company was founded in 2013 as BitX and rebranded in January 2017. Then it joined the regulatory sandbox of the UK Financial Supervision Authority. In addition to continental Europe, Luno also operates in Indonesia, Malaysia, Nigeria and South Africa.

SEC Suspends Trading in 3 Companies

On Friday The U.S. Securities and Exchange Commission temporarily suspended the trading of three companies as they made the purchase of cryptocurrency and blockchain-related assets
17 February 2018   103

According to the announcement, the trade of  Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. will be suspended between 9:30 a.m. EST Friday and March 2. The notice was dated Feb. 15.

SEC stated that its trading suspension orders state that recent press releases issued by CHIT, PDXP, and VICT claimed that the companies acquired AAA-rated assets from a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.

The release also indicates additional reasons for the suspensions. The agency’s orders also say there are questions regarding the nature of the company's business operations. In case of CHIT, the Commission suspended trading in the securities because of its delinquency in filing annual and quarterly reports.

In August 2017, the SEC  issued a warning for investors about the companies that may publicly announce ICO or coin-related events to affect the price of the company’s common stock.

Fraudsters often try to use the lure of new and emerging technologies to convince potential victims to invest their money in scams. 

U.S. Securities and Exchange Commission