Daily Cryptocurrency Bulletin For Tuesday, May 21, 2019

May 21, 2019 1:34 pm Published by

ABN AMRO hasdropped its plans to launch cryptocurrency wallet “Wallie” due to regulatory concerns. The bank is now looking to launch a blockchain platform for trade inventory. Dubbed Forcefield, the platform has already signed on Accenture, Anglo American, CMST International, Hartree Partners, ING Bank, Macquarie, Mercuria and OCBC Bank.Forcefield has been turned into an independent company after a “successful” proof of concept phase.

Calastone, a transactions network for the mutual funds industry, has moved to its own blockchain-based settlement system. The London firm estimates the mutual funds industry will see savings of more than £3.4 billion per year with the new Distributed Market Infrastructure (DMI). Calastone serves more than 1,800 customers, including JPMorgan Asset Management. 

Honda is collaborating with General Motors (GM) on a blockchain-based system to track the supply of power in smart grids and the amount of electricity stored in car batteries, and record electricity exchanges whilst providing compensation for storing electricity.

VanEck/SolidX Bitcoin Trust ETF proposal has been delayed by the U.S. SEC. The new deadline is August 19 and they can delay one more time for a final deadline of October 18. This is the second proposal being delayed following NYSE Arca and Bitwise ETF. In a separate proposal, NYSE Arca has formally applied to the SEC for a rule change that would allow it to list shares in a Bitcoin investment trust. The United States Bitcoin and Treasury Investment Trust would invest exclusively in BTC and short-term U.S. Treasury securities.

The U.S. Internal Revenue Service (IRS) is working on its first tax guidance for cryptocurrency since 2014 as they plan to release in-depth guidance soon. 

Venezuela and Russia are in talks to use the Ruble in mutual trade settlements –abandoning the US dollar for transactions. The two countries are also considering using El Petro, Venezuela’s oil-pegged cryptocurrency, as another medium of exchange.

Cryptocurrencies

Bitcoin $7,939.44 USD (0.46 percent) and Litecoin $91.24 USD (-0.38 percent) can now be sent and received on Whatsapp through Zulu Republic’s new bot LiteIM.

BitTorrent Token $0.001318 USD (27.66 percent) has seen significant gains today following the release of four key uses for the Tron-owned token. This includes faster download speed through BitTorrent Speed, the ability to purchase a VPN package through BitTorrent Pro with BTT, along with the ability to buy products such as Ads-free – one more use case will be announced this week. Furthermore, distribution of BitTorrent cards have begun this week through Grid and in conjunction with TronCard – giving the ability to earn BTT and TRX rewards.

Ethereum $252.63 USD (1.08 percent) weekly trading volume has reached its highest notional value in more than 17-months on Coinbase. The forceful return of trading volume during a week in which ETH prices rose 37 percent may indicate a sustained run. Meanwhile, more than $7 million worth of ETH has been transferred by the hacker of the now liquidated New Zealand cryptocurrency exchange, Cryptopia, to an unknown wallet.

Matic Network $0.038841 USD (78.08 percent), a blockchain project backed by Coinbase and aimed at scaling Ethereum, has risen more than 78 percent today. Since the start of May, the coin has gained more than 610 percent. After launching on Binance less than a month ago, users are pricing in an eventual Coinbase listing, knowing Coinbase’s role as seed investor. 

– WN.com, Jamie Saarloos



Have your say:

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

*