Cryptocurrency Daily News Bulletin, January 30

January 30, 2018 12:53 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

Japan. Following the Coincheck exchange hack last week, Japan’s Financial Services Agency (FSA) is extending its investigations to other cryptocurrency exchanges. This news may be casting a shadow over cryptocurrency markets, given the importance of trading in Japan. https://goo.gl/PdkwLi

European Union. Cryptocurrency trading in the UK could be capped under new rules announced by the European Union’s markets watchdog, which is considering a crackdown on the sale of ‘contracts for differences’, which allow anyone to speculate on the future of digital currencies without owning the underlying instrument. A consultation period on the proposed changes is due to run until February 5. https://goo.gl/TYRFou

Federal Ruling on Cryptocurrencies. Federal judges in Brooklyn are about to deliver a ruling on the question of whether cryptocurrencies are securities that can be regulated like stocks or bonds. Courts across the country are likely to consult these rulings when considering other cybercurrency cases. https://goo.gl/eqb5JS

BTC/BTCC Exchange. China’s first Bitcoin exchange said it has been acquired a by unnamed Hong Kong-based blockchain investment fund after a regulatory crackdown by Chinese officials. BTCC, which was known as BTC China and run by American Bobby Lee, was purchased for undisclosed terms. The company will now focus exclusively on the international market and its three major products, BTCC Pool, Mobi and USD Exchange. https://goo.gl/STNRUw

Korea. New rules regarding trading in South Korea came into effect today. South Korea’s Financial Services Commission to CNBC that new measures outlined earlier this month – including the trading of cryptocurrencies from real-name bank accounts – have been implemented. These rules have enabled banks to comply with their KYC AML (know your customer, anti-money laundering) obligations. According to some analysts, the rules bring greater legitimacy to the cryptocurrency markets and will therefore have a positive impact in the longer-term. https://goo.gl/iyLWdr

WeMakePrice, one of Korea’s largest e-commerce platforms, will integrate 12 cryptocurrencies into its existing payment application, to allow its consumers to pay for products using cryptocurrencies. https://goo.gl/kb17d5

Card Purchases. Bank of America, Citigroup are reviewing their cryptocurrency policies after Capital One Financial earlier this month banned cryptocurrency purchases on its cards. Money laundering appears to be at the forefront of concerns – financing purchases of cryptocurrencies creates headaches for banks that are required to monitor transactions for money laundering. https://goo.gl/PGHXsS

Russia. On Friday, the Russian Finance Ministry drafted a new bill on cryptocurrencies (see also yesterday’s bulletin). The bill legalizes the term “digital financial asset” as a security in electronic form. It also states that cryptocurrencies are not an authorized means of payment in Russia. Therefore, cryptocurrency – based on this draft – is not money. https://goo.gl/SrK1mr

Cryptomiso. Cryptomiso is a new website that charts the Github commits for over 600 cryptos. Github activity – the frequency with which the code governing cryptocurrencies is updated – provides a good indicator of which projects are receiving attention from developers. https://goo.gl/X2wtFc

 

Individual Currencies

 

Bitcoin (-1.76%)

(Negative) Bitcoin Magazine has published an article suggesting that Bitcoin may be about to enter a bearish phase. These conclusions are based on the identification of a Bear Pennant trading pattern. https://goo.gl/LuxDCh

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

 

Veritaseum (-3.08%)

(Negative, unclear) Reggie Middleton posted a video late last night (GMT) in which he announced that the public beta testing of the VEdair software, which was scheduled to be released on January 18, 2017, has been further delayed. https://goo.gl/Mmja9B

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

 

Waves (+0.05%)

(Positive) At approximately 10 am (GMT), Wave announced via Twitter that they’re now “powering RewardMob, a tournament-based reward platform for mobile game developers.” https://goo.gl/q7rTtz

https://coinmarketcap.com/currencies/waves/

 

Bitshares (-0.50%)

(Negative) Texas regulators have issued an unconditional cease and desist order to the self-described ‘cryptocurrency bank’ AriseBank – which has a partnership with Bitshares – on Friday, Jan. 26, ordering it to halt any services to the state’s residents. AriseBank’s website, which was hosting its ICO, has now ceased to function. https://goo.gl/qp3FcJ Jared Rice, AriseBank’s founder, claims that the company’s offices have been raided by the FBI. https://goo.gl/gZeWUW For a skeptical perspective on Rice’s claims and the AriseBank project see https://goo.gl/jrGded. The legal documents from the SEC’s case in Texas reveal the deeply misleading nature of a number of key assertions made by AriseBank and that Jared Rice is currently on probation for felony theft and tampering with government records (AriseBank’s president also has a criminal record that was not disclosed). https://goo.gl/r1m2wa

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

 

NEO (+1.56%)

(Positive) Reports indicate that a new decentralized crypto exchange will be launched on the NEO platform as an ICO in the next month or two. The Neon Exchange (NEX) aims to be fully operational by the third quarter. According to the official website, “NEX combines the NEO blockchain with an off-chain matching engine to enable much faster and more complex trades than existing decentralized exchanges.” https://goo.gl/Nwner8

(Negative) Since hosting the Red Pulse ICO last year, Neo has hosted around a dozen ICOs. From a fundraising perspective, these crowdsales have been successful, selling out rapidly and raising hundreds of millions of dollars. But, according to Bitcoin.com, from a technical perspective, a number of Neo’s largest ICOs have been blighted by problems. https://goo.gl/adUXJp

https://coinmarketcap.com/currencies/neo/

 

Rise (+6.10%)

(Positive, unclear) January 29, Rise released its January newsletter, which provides a number of updates on the project, including its efforts to gain regulatory approval in Gibraltar.   https://goo.gl/KtqouN

https://coinmarketcap.com/currencies/rise/

 

Zencash (+14.07%)

(Positive) Zencash announced at approximately 11.30 am (GMT) that Zen is now listed on OKEx. The company had announced that it would listed on ‘a major exchange’ on Friday. https://goo.gl/Cvqc7v

https://coinmarketcap.com/currencies/zencash/

 

Ripple (-3.85%)

(Positive) SBI Ripple Asia is forming a consortium to research the use of distributed ledger technology (DLT) to improve securities products. The company – a joint venture between Ripple and Japanese investment firm SBI – said the new consortium will see joint efforts from 18 securities firms to research and commercialize applications of emerging technologies, particularly DLT, to improve efficiency for customers, while reducing operational costs. https://goo.gl/Wkud5q

https://coinmarketcap.com/currencies/ripple/

 

– WN.com, Robert Maxwell



Have your say:

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

*