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cryptocurrency February 6, 2018
Singapore Airlines is launching a digital wallet that will enable passengers to spend their frequent flier miles. Image by Iryna Rasko.

Singapore Airlines Launching Digital Wallet for Frequent Flier Miles

According to Time Magazine, Singapore Airlines is launching a digital wallet that will enable passengers to spend their frequent flier miles. Goh Choon Phong, the airline’s chief executive, claims that they are the first airline to remodel their frequent flier program to involve blockchain technology. The revised program will only be available for its partners and vendors at launch.

U.S. Regulators Expected to Call for New Regulatory Framework of Cryptocurrencies in Congressional Hearing Today

According to Reuters, the chiefs of the U.S. SEC and the U.S. CFTC are expected to call for a new regulatory framework specifically for digital currencies in their congressional hearing today. In their pre-published testimony, the chiefs explain that “a patchwork of rules for cryptocurrency exchanges may need to be reviewed in favor of a rationalized federal framework.”

Spackman Entertainment Group Planning an ICO To Launch K Coins

Singapore catalist-listed Spackman Entertainment Group announced it is in preliminary discussions to launch an (ICO) for its own cryptocurrency, called K Coins. According to Business Insider, the company will use K Coins to fund artist and content projects, while token holders will be able to use their K Coins to purchase merchandise, entry to movies and drama-related events, and more. The company is awaiting approval from regulators.

Chinese Authorities Removing Access to Cryptocurrency Trading and ICO Investment Platforms Located Overseas

The Chinese government is increasing its crackdown on cryptocurrencies by blocking domestic access to cryptocurrency trading and ICO investment platforms located overseas. According to CoinDesk, authorities are taking this action because “after the closure of the domestic virtual currency exchanges, many people turned to overseas platforms to continue participating in virtual currency transactions.”

Scammers Take USD 1.8 Million from Potential Investors in Seele ICO

Scammers tricked potential investors of Seels’s ICO into sending USD 1.8 million-worth of Ether to a private wallet. According to the Coin Telegram, the scammers posed as admins in the company’s Telegram channel. Seele, which markets itself as “blockchain 4.0,” released a statement in which they claimed to “take responsibilities to minimize the loss of community members by making detailed compensation plans.”

Source: ICO Alert