Crypto Weekly – January 18, 2018

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The  top few cryptocurrencies market has seen a slump this week  due to a couple of reasons, except for NEO which rose to the 7th place.

Data source: www.coinmarketcap.com as of January 17, 2018 (UTC, EOD)

Regulation:
  • Pan Gongsheng, vice governor of the People’s Bank of China is reportedly looking to institute a wider ban on cryptocurrency activities  for services and activities at the  individual and institution including, cryptocurrency OTC trading platforms and peer-to-peer networks.  
  • The Bank of Korea set up a Task Force headed by the deputy governor and administered by the payment and settlement department to explore the the technology’s effects on the financial system.
    • Mixed news coming out of South Korea with regard to the potential ban on cryptocurrency exchanges by the Justice Department, which was partially contained when Presidential Office said that no laws have been passed on the matter yet.
    • South Korean residents have been signing various  a petitions to not close cryptocurrency exchanges.
    • South Korean investors with anonymous virtual accounts need to provide documentation by the end of January or face fines
  • The French minister of economy, Bruno Le Maire,  indicated that the the former deputy governor of the central bank, Jean-Pierre Landau, will head the newly created working group to develop cryptocurrency regulations, including prevention of tax evasion and anti-money laundering.
  • Ukraine’s National Security and Defence Council chief reportedly announced the formation of a government working group to develop cryptocurrency regulations.
  • The Bank of Lithuania will launch a regulatory sandbox “LBChain” for  startups working on blockchain in 2019.
Blockchain projects:
  • The UNICEF Innovation Fund is looking to make early stage equity- free investments of $50,000 – $90,000 in blockchain technologies with applications looking to solve humanitarian causes. It could be in the area of smart contracts, tokens, mining and data analysis. UNICEF Ventures will also look to provided technical support.
  • MoneyGram, the international remittance company is partnering with Ripple to test its technology – xRapid as it reportedly offers quicker and more cost effective international money transfers.  
Crypto Acceptance:
  • Arizona lawmakers submitted a  new bill which looks to allow taxpayers to make their payments in bitcoin and potentially other cryptocurrency.
  • Dallas Mavericks, the U.S. basketball team owned by Mark Cuban will begin accepting bitcoin and ether (and maybe other cryptocurrencies) as a method of payment for tickets in the next season.
  • KFC Canada is accepting bitcoin payments for a limited time frame for a specially introduced cryptocurrency chicken which can be purchased on their website.
Crypto investments/funds:
  • Japan’s Fisco,  an investment research firm  which also operates a  cryptocurrency exchange, launched a $2.66 million fund to invest in cryptocurrencies, including bitcoin.
  • The expiry of the first CBOE monthly bitcoin futures occured on Jan 17 and CME is to take place on Jan 26.
ICOs:
  • BitConnect continues to face resistance from the North Carolina Securities Division as it failed to register its ICO as the underlying had properties of dealing in securities.
  • Reliance Jio Infocomm plans to create its own JioCoin, which could be used for supply chain logistics management and seeks to also get into IoT.
Last 12 months Charts:

Data source: www.coinmarketcap.com

 

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