Cryptocurrency Daily News Bulletin, January 17

January 17, 2018 12:49 pm Published by

 

Please note: Information on this post should not be construed as personal investment advice. Prices were correct at the time of writing.

General

 

Impact of recent downturn. As cryptocurrencies have struggled over the past few days, their combined market cap has fallen by more than $200 billion. https://goo.gl/rCpGMg

G20. Shuhei Fujise, Alt Design’s chief analyst, has suggested that cryptocurrency prices may remain supressed for Q1, 2018, as investors wait to see what transpires at the next G20 summit. https://goo.gl/x8ikXG (Germany and France have previously called for discussions regarding regulation at the G20 summit. See, for example, https://goo.gl/ML2hM1.)

Bitconnect. Bitconnect has announced that it is closing its lending and exchange platform. The company has widely been accused of operating a Ponzi scheme. Immediately after the firm declared its intention to wind things up, its BCC coin plummeted from $290 to under $10 before recovering slightly. With the exchange offline, many holders have been left locked out and powerless to sell their heavily deprecated assets. https://goo.gl/X4pk4v

DeBeers. De Beers is running a pilot scheme using blockchain to create a virtual ledger of diamond sales. https://goo.gl/cG9f2L

France. French finance minister Bruno Le Maire wants a new legal framework that aims to regulate digital currencies to overcome tax evasion and terrorist funding, which he claims has become a common use for Bitcoin. https://goo.gl/FdNTti

Mitsubishi UFJ Financial Group, Inc. Mitsubishi UFJ Financial Group, Inc, the largest bank in japan and fourth largest bank in the world, is set to launch a cryptocurrency exchange and also possibly launch its own coin, MUFG COIN. https://goo.gl/boq99a

IBM and Maersk. IBM and Maersk announced today that they are teaming up to create an as-yet-unnamed Blockchain-based shipping and supply chain company. The goal of the venture is to develop ways of using the Blockchain for all aspects of the global supply chain system. https://goo.gl/NLwb5T

U.S. Counter-terrorism bill. House Representative Ted Budd (R-NC) introduced a bill on Jan. 10, U.S. which would create a new task force to combat the use of cryptocurrency in financing terrorism and other illicit uses. https://goo.gl/3nn3fH

 

Individual Currencies

 

Bitcoin (-11.43%)

(Unclear) According to Constantin Papadimitriou, president of Pundi X, approximately 10% of the world’s bitcoin transactions take place in India. https://goo.gl/6v2YUP

(Negative) The Financial Times has outlined how British investors who want to cash out of cryptocurrencies into pounds face the hurdles of having to make international money transfers, being charged high fees and drawing the suspicion of banks. https://goo.gl/p8nKYX

https://coinmarketcap.com/currencies/bitcoin/

 

Ethereum (-16.06%)

(Positive) According to a study led by Cornell professor Emin Gun Sirer and Cornell research professor Robbert van Renesse, Ethereum’s nodes are better distributed than bitcoin, and thus the network is more decentralized than bitcoin. https://goo.gl/jjENxa

https://coinmarketcap.com/currencies/ethereum/

 

Veritaseum (-7.68%)

(Unclear, potentially negative) On January 15, Veritaseum provided a number of updates via its Twitter feed. These included the following tweet: “The VeADIR beta is technically ready to be released as a public beta today but we have decided to postpone open public access for two reasons. 1) We’re fine tuning gas consumption BEFORE the masses hit it 2) Legal counsel flagged potential regulatory issues which we’re addressing.” https://goo.gl/Rrq1pF The public beta version now looks likely to be released in a couple of weeks. For Veritaseum’s Twitter feed see https://goo.gl/2apL2G

https://coinmarketcap.com/currencies/veritaseum/

 

Stratis (-20.93%)

(Positive) Stratis announced at approximately 1 am (GMT) that it has entered into a partnership deal with Silicon Valley software company Gluon. https://goo.gl/iRNw9j

https://coinmarketcap.com/currencies/stratis/

 

EOS (-15.76%)

(Positive) Yesterday afternoon (GMT), Block.one announced that they are going to team up with TomorrowBC (former Google CEO Eric Schmidt’s venture firm) to create a fund to exclusively invest in opportunities leveraging EOS.IO software. https://goo.gl/vjkgom

https://coinmarketcap.com/currencies/eos/

 

TenX (-21.11%)

(Potentially positive) TenX have released a new edition of their podcast, which includes updates on new developments and future plans. https://goo.gl/yS61cD

https://coinmarketcap.com/currencies/tenx/

 

Bitshares (-25.18%)

(Unclear) Early this morning, Bitshares’ partner, AriseBank, has announced the names of the two banks that it has purchased. They are the KFMC Bank Holding Company, a commercial bank, and TPBG, a small investment bank. https://goo.gl/UZJfKs

https://coinmarketcap.com/currencies/bitshares/

 

– WN.com, Robert Maxwell

 



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