Cryptocurrency Daily News Bulletin, January 22

January 22, 2018 12:48 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.



Commodity Futures Trading Commission. On Friday, the U.S. derivatives watchdog announced that it has filed charges against three virtual currency operators – including CabbageTech and Entrepreneurs Headquarters Ltd – alleging that the defendants had defrauded customers and broken other commodity trading rules.

Use of the blockchain in the agricultural sector. According to The Financial Times, Louis Dreyfus Co and Shandong Bohi Industry, a Chinese agricultural processor, along with the financing groups ING, Société Générale and ABN Amro, have trialled a blockchain-based digital platform for the sale of 60,000 tonnes of US soybeans to China in December.

India. On January 21 it was announced that banks across India are to crack down on cryptocurrency trading, months after Finance Minister Arun Jaitley denounced the digital currencies. Bitcoin exchanges in India are now under fire, with the State Bank of India (SB), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank reportedly closing or limiting activity on accounts tied to bitcoin trade.

Europe. Amidst growing speculation that the EU will regulate cryptocurrencies, the European Central Bank’s deputy governor, Jean-Pierre Landau, has been appointed to lead an investigative mission on cryptocurrencies and how they might be regulated. Valois Dombrovskis, vice president of the European Commission, has written to the financial regulatory authorities in three major EU countries outlining “clear risks for investors and consumers associated to price volatility”. The EU is set to present an action plan on financial technology in the spring.


The South Korean government has announced that six major banks will be ready to provide services to cryptocurrency exchanges this month. Under the new system, which has been planned for some time, the government requires exchanges to share user data with banks.

According to a January 20 article in Trustnodes, Korbit, one of the country’s biggest crypto exchanges, has ruled that non-citizens can no longer use the exchange.


Individual Currencies


Ripple (-10.35%)

(Negative) According to a Financial Times survey, most banks and financial services linked to Ripple have not yet entered the testing phase.


Bitcoin (-6.04%)

(Negative) According to, there could be more downward pressure on markets when the CME futures contracts expire on January 26. CME futures are tied to 5 Bitcoins – CBoE’s contract, which expired last week, was only tied to one. For this reason, speculates that the expiration of the CME futures could have a bigger impact and may already be affecting the Bitcoin price.

(Positive) According several reports this morning, there has been a breakthrough in the development of the lightning network. The lightning network offers a potential solution to bitcoin’s scalability issues – it may make transactions cheaper and faster.


Ethereum (-6.09%)

(Positive) Canada’s National Research Council is now making use an Ethereum-based blockchain system, which will make funding and grant information available to the public.


Aeternity (-2.36%)

(Unclear, potentially positive) Aeternity, which lost over 80,000 ether in the Parity wallet last year, has doubled its bounty for the return of the tokens. If the hacker returns 80% of the stolen ether, then legal proceedings will not take place.


Siacoin (-16.56%)

(Negative) On January 19, Obelisk threatened to launch a soft fork in reaction to the launch of Bitmain’s Antminer A3. The fork could disable the Bitmain units from being able to mine the coin.


Bitcoin Cash (-8.21%)

(Positive) The GDAX exchange will start offering BCH/EUR trading again on Wednesday January 24 at 02:00 AM Pacific Standard Time (PST).


IOTA (-6.51%)

(Positive) On January 20 it was revealed that Volkswagen’s CDO, Johann Jungwirth, is going to join the supervisory board of IOTA-Foundation.


Verge (-10.13%)

(Unclear, potentially positive) January 20, Verge announced a forthcoming hard fork at block 1,824,150


–, Robert Maxwell

Have your say:

Your email address will not be published. Required fields are marked *