Mining hardware demand declines, SEC monitors crypto market, Japan is against money-laundering, Coinbase launches Coinbase Custody, European banks tested cross-border trade via blockchain, Boomstarter launches blockchain crowdfunding, Bermuda widens banks specialization
- Cryptocurrency mining profits are on the way down, resulting in declining demand for hardware, such as high-end graphics cards. Sources suggest that GPUs could drop by as much as 20% within the upcoming month.
- The US Securities and Exchange Commission has charged two Nevada residents with illegally profiting off stock sales of a company claiming to have a blockchain-related business.
- As the cryptocurrency industry is growing in Japan, the FSA pointed out the necessity to change the crypto exchange regulations to create an increasingly secure environment with proper monitoring systems in place, including screening users’ ID.
- Coinbase has announced that they will be launching an institutional custody solution, known as Coinbase Custody, in order to facilitate institutional investment in the cryptocurrency market.
- A group of European banks announced that they have completed a series of cross-border financial trades through we.trade, a jointly developed blockchain platform.
- Boomstarter.Network, the platform in Eastern Europe generating pre-sales for startups, moves to blockchain to challenge a number of limitations that constrain existing crowdfunding services.
- The Government of Bermuda has announced plans to make amendments to the Banking Act in order to establish a new class of bank to render services to local fintech and blockchain organizations.