The cryptocurrency markets recovered a bit from last week and ETH gained ~20% YTD. The top 5 cryptocurrencies are going strong, IOTA came back into the top 10 and XEM slipped out of the top 10.
Data source: www.coinmarketcap.com as of February 14, 2018 (UTC, EOD)
- Hong Kong’s Securities and Futures Commission will crack down on the cryptocurrency exchanges functioning without a license or that violate securities laws.
- Bank of Thailand has issued a statement that prohibits banks from providing services related to cryptocurrency, which also includes the ban on cryptocurrency purchases by customers.
- Japan’s Financial Services Authority has been conducting raids on various cryptocurrency exchanges after the Coincheck hack to ensure that they are maintaining standards.
- Arizona State passed a bill which allows residents to pay taxes in bitcoin and other cryptocurrencies
- Jeff Weninger, a state representative will also look to lay down a regulatory framework for ICOs.
- South Korea is working on a licensing system for its cryptocurrency exchanges. The country will reportedly look to implement a BitLicense system that has been applied in New York. It requires exchanges to have certain minimum capital and have detailed reporting.
- Gibraltar Financial Services Commission is looking to regulate ICOs and will be working with members of the British overseas territory legislature. Compliance and disclosure and financial crime rules will apply.
- The Canadian Securities Exchange plans to launch a blockchain based platform for clearing settlement of securities token sales.
- Saudi Arabian Monetary Authority signed a pilot with Ripple to test the xCurrent platform for payments received and paid into and out of the country.
- South Korean exchange Bithumb is now accepting customers again since KYC systems are now in place to meet the regulatory requirements.
- Taiwan’s city government is reportedly working with IOTA and Taiwanese startup BiiLabs to institute the city’s citizen ID data on the Tangle blockchain.
- Microsoft reportedly plans to add blockchain based decentralised IDs on to its Microsoft Authenticator app
A few hiccups:
- Binance, a cryptocurrency exchange suspended trading for 24 hours while the systems were upgrading causing some concerns for users.
- Italian exchange, BitGrail was hacked and 17 million units of Nano (XRB) amounting to $170 million went missing.
- Coincheck opened withdrawals, which led to ~$373 million being pulled out by investors in a day. This comes after the ~$530 million hack on the exchange of NEM tokens.
Last 12 months Charts:
Data source: www.coinmarketcap.com
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