Completed, Ranked, Ordered (Weekly Digest, Feb 25 — Mar 01)

Ethereum Constantinople: completed, Tesla or BTC, China and Coinbase Pro praising Tron, Russia to finally decide on crypto, successful investment rounds despite the crypto winter, Japanese major securities brokerage to pass a review, Swiss bank to provide crypto-related services, Coinomi's pledges of security

  • Constantinople and St. Petersburg: finally successful.
  • Regulation updates and the Presidential order in Russia: Russian Supreme Court included ‘crypto-to-fiat conversion’ into the wording of the anti-money laundering law; President Putin ordered to adopt federal laws regulating cryptocurrency as the subset of ‘digital financial assets’ by July 2019.
  • Tron and EOS surpassed Ethereum in the number of dapps. However, this regards quantity in the first place.
  • Coinbase Pro listed XRP. The XRP/USD, XRP/EUR, and XRP/BTC pairs are now available on the platform for users from the USA (except for NY), UK, EU, Canada, Singapore, and Australia.
  • According to the crypto ranking by China’s Center for Information and Industry Development, top-3 assets are EOS, TRON, and ETH. Notably, this is the first mention of Tron in this rating (this is the 10th update; 35 assets altogether).
  • Blockchain Startup Nivaura got $20 mln during its second seed extension round. It was held by the London Stock Exchange Group (LSEG). The company’s motto is to ‘Build digital investment banking services to drive automation, compliance and improved client experience.’
  • A major Swiss bank is going to provide crypto-related services. SEBA Crypto AG and Julius Baer signed a collaboration; ‘SEBA works towards bringing together the world of old-school finances and the newly emerged crypto valuables through regulation.’
  • Japanese Daiwa Securities Group, the country’s second largest securities brokerage, has stood the ‘JPX Proof-of-Concept Testing for Utilization of Blockchain / DLT in Capital Market Infrastructure’. It aims is to make the post-trade processes more efficient.
  • Coinomi denied claims as for its security breach. Some users claimed that Coinomi wallet used to send the mnemonic phrases through Google’s remote spell checker unencrypted.
  • Will Elon Musk change Tesla for Bitcoin? Binance CEO Changpeng Zhao suggested Elon Musk to trade a Tesla for some BTC; this is the way how CZ responded to the fact that Musk had only 0.25 BTC.

BTC

8,744 USD
-2.40%

EOS

7.98 USD
-2.45%

ETH

272.72 USD
-2.80%

TRX

0.03416 USD
-6.12%

BNB

33.05 USD
-6.02%

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Breaking: Investors Should Not Mix Blockchain With Virtual Currencies- People’s Bank Of China

A recent regulatory update by People Bank of China’s(PBOC) Shanghai Head office has affirmed that the bank will continue to strengthen regulation and control and clamp down crypto trading. No Virtual Currency Business To Exist In China The Shanghai Financial Stability Joint Conference Office and the Shanghai Headquarters of the People’s Bank of China going forward will continuously monitor the virtual currency business activities within the jurisdiction. Once the activities are discovered, they will be put to an end with immediate effect. The announcement further states that “Investors should be scrupulous and should not mix blockchain with virtual currencies”. Furthermore, the announcement mentions that there are multiple risks involved with virtual currencies. These include issuance, financing and trading, including false asset risk, business failure risk and investment speculation risk. If in case an investor discovers any form of virtual currency business activities taking place they may report it to the regulatory authorities. Most importantly, those suspected of being involved in virtual currencies in any manner may be sent to the public security. The latter is the principal police and security authority of the People’s Republic of China. Rise In “ Crypto Adoption” Speculations In China’s pursuits of promoting blockchain technology, speculations relating to virtual currencies started rising. For curbing virtual currency-related activities in Shanghai, the regulators will be launching a drive. The announcement mentions, Relevant financing entities through the illegal sale, circulation of tokens, raising funds to investors or bitcoin, Ethereum and other virtual currency, which is essentially unauthorised illegal public financing, suspected of illegal sale of tokens, illegal issuance of securities and illegal fund-raising, financial fraud, pyramid schemes and other illegal crimes have seriously disrupted the economic and financial order. PBoC To Adopt New Measures To Curb Use of Cryptos Back in 2017, the People’s Bank of China and the other seven ministries and commissions issued the “Announcement on Preventing the Risk of Subsidy Issuance Financing” clearing up the ICO and virtual currency trading venue. Since then the supervision has strengthened and the efforts to eliminate virtual currencies in China continue full throttle. The announcement further states that the Shanghai Financial Stability Joint Conference Office and the Shanghai Headquarters of the People’s Bank of China will continue to adopt monitoring measures such as interviews, inspections, and bans on the monitored entities involved in virtual currency activities to resolve related risks in a timely manner. While blockchain is here to stay, China is still not ready for crypto. Will China adopt crypto in the near future? Let us know, what you think in the comments below!   The post Breaking: Investors Should Not Mix Blockchain With Virtual Currencies- People’s Bank Of China appeared first on Coingape.
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Bitcoin Black Friday: Marching to $7,000 at Fast Speed

Bitcoin is crashing in real-time and nothing can stop the market from experiencing new lows. The price has finally reached its pre-Xi comments levels, though the bears are so strong that it has already broken below those levels. Bitcoin Dangerously Close to Breaking Below $7k Bitcoin has recently broken below the $7,500 level for the first time since October 25. On that day, the cryptocurrency started the craziest short-term rally it has ever had, being driven by Chinese President Xi Jingping’s comments endorsing the blockchain technology. However, it seems that investors overreacted and rushed to price in the Chinese optimism, but it was too early to do so. Now they’re paying the price, and it seems that bears don’t want to go away. BTC is now trading at $7.246 at the time of writing, but everything is happening so fast that the chances are you see an even gloomier picture, unless it bounces back to take a rest. That $7,500 level was very important. When Bitcoin was trading at that price, crypto commentator Alex Krüger said via Twitter that the cryptocurrency ha to rally in order to avoid a crash, but it couldn’t bounce back and now we’re witnessing the lowest level since May of this year. $BTC needs to rally or it will crash. How brilliant, right? If it doesn't go up, it will go down! I'm aware non-technical traders are repelled by this way of thinking, so let me break it down. Mind this is NOT financial advice, just sharing my thought process. I'm often wrong. pic.twitter.com/sQPflI5Wsi — Alex Krüger (@krugermacro) November 21, 2019 It’s Not About Mining Capitulation Alex Krüger says it’s not about mining capitulation and he even anticipated a short-term uptrend. He said that Bitmex funding was expected to turn negative tomorrow for the first time since October 24. For him, there was a hope that the price would bounce back to the $8,000 territory. For those unfamiliar, BitMEX funding rate is an indicator used for its perpetual contracts. It implies an interest rate to favor bulls or bears, depending on the market condition. A negative rate means that shorts pay longs, while a positive rate suggests vice versa. The rate changes every 8 hours, meaning that you could get paid every 8 hours if you trade against the trend. While mining capitulation makes sense at a later date, the panic is caused by selling, Kruger says. Again, no miner capitulation. Selling, yes, capitulation, no. If going to panic, find the right reasons to panic about.https://t.co/5i9Io3aFnl — Alex Krüger (@krugermacro) November 21, 2019 All in all, the price has already tumbled to 7,100 while writing this, showing a daily loss of 11%. However, hodlers shouldn’t worry – it just means investors can get Bitcoin at discount prices. Where is the next stop for Bitcoin? Share your thoughts in the comments section! Images via Shutterstock, Twitter: @krugermacro The post Bitcoin Black Friday: Marching to $7,000 at Fast Speed appeared first on Bitcoinist.com.
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Bitcoin Drops to $7,000 as China Vows to ‘Dispose of’ Local Exchanges

Bitcoin Drops to $7,000 as China Vows to ‘Dispose of’ Local Exchanges Cryptocurrency exchanges operating illegally in China face a new threat after the central bank announced it would take new steps to uphold its trading ban. In a statement on Nov. 21, the People’s Bank of China (PBoC) warned it was taking action against […] Cet article Bitcoin Drops to $7,000 as China Vows to ‘Dispose of’ Local Exchanges est apparu en premier sur Bitcoin Central.
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