Weekend, May 19-20, ’18

Ethereum Network, Circle, Norway, Thomas Lee, Florida, Bitfinex, Tether, Singapore, Coincheck

  • Ethereum Network is stuck again after the launch of new games. CryptoKitties are long forgotten, but Ether Shrimp Farm, Ether Cartel and Pepe Farm have congested the chain, being the cause of the gas fees doubling.
  • Circle, a global crypto finance company, affiliated with Goldman Sachs, has announced a possibility of issuing their own stablecoin, the Circle USD Coin (USDC). It will be an ERC-20 token, backed by CIrcle and supported by Bitmain. The details are still unclear.
  • The Central Bank of Norway could be ready to develop its own digital currency. A few days ago Norway was named one of the friendliest countries to crypto. The Norges Bank explains the necessity of digital currency issuance by a decline in cash usage. Also, it could rebound the confidence in Norway's monetary system.
  • Thomas Lee has admitted that his prediction of Bitcoin rally after Consensus 2018 was wrong. He predicted the crypto market to grow significantly, instead it lost nearly 10% of its capitalization. Tom Lee blames it on the lack of a clarity in regulations. Anyway, he still expects it to happen by the end of the year.
  • US Goverment Agency now accepts BTC and BCH as a payment for property taxes. All citizens within Florida's Seminole County will be able to pay their taxes with crypto thanks to the recently elected Tax Collector Joel Greenberg, who signed an agreement with BitPay, declaring that he wants to bring government services from the 18th century into the 21st century.
  • Bitfinex has sent a letter to many of its customers, asking to provide their tax information. This was made in order to comply to a new law in the British Islands which requires them to provide the BVI government with such information. The exchange has already announced their plans to relocate the business to Zug in Switzerland, thus it could evade the necessity to provide any information about its customers to anyone.
  • Tether issued another 250 million of USDT tokens. It's still in question if their tokens are backed by anything. However, the price of BTC and ETH increased within an hour of issuing USDT tokens.
  • Singapore is emerging fast as one of leading countries in blockchain adoption.  Singapore’s Central Bank began a program called 'Project Ubin' to explore the potential of blockchain technology in regards to clearing and settling payments and securities. Recently, its first phase was successfully completed. Now it moves to more difficult goals.
  • Japanese exchange Coincheck will delist four anonymous cryptocurrencies. It must be done in order to comply with the anti-money laundering and counter-terrorist measures issued by Japan’s financial regulator, the FSA.
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