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Three Watchdogs Embrace Central Bank Digital Currencies as Cryptos Rebound

Nov 16, 2018


Top 5 Cryptocurrencies sorted by 24 hour Volume

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Bitcoin BTC USD$5617.49 0.33% 2.32% -12.28% USD$97,625,545,874 USD$6,299,492,549
Ethereum ETH USD$178.63 0.17% 2.22% -15.22% USD$18,440,810,131 USD$2,318,739,415
EOS EOS USD$4.58 0.11% 3.36% -15.69% USD$4,154,748,657 USD$1,183,175,873
XRP XRP USD$0.47 0.41% 5.46% -5.7% USD$19,072,860,825 USD$868,768,629
Bitcoin Cash BCH USD$403.74 -0.46% -5.58% -29.65% USD$7,049,940,970 USD$718,818,844


Top 5 Cryptocurrencies sorted by 24 hour Price Percent Change

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Name Ticker Price 1H %Chg 24H %Chg 7D %Chg Market Cap Volume
Stellar XLM USD$0.24 -0.36% 8.82% -5.75% USD$4,616,732,125 USD$122,930,771
NEM XEM USD$0.09 0.33% 5.99% 2.61% USD$854,383,463 USD$13,630,380
XRP XRP USD$0.47 0.41% 5.46% -5.7% USD$19,072,860,825 USD$868,768,629
TRON TRX USD$0.02 0.05% 4.89% -17.1% USD$1,255,702,766 USD$76,825,018
OmiseGO OMG USD$2.77 0.54% 4.88% -16.67% USD$387,958,811 USD$29,143,575


Crypto News

  • A joint report by the Bank of England, the Bank of Canada, and the Monetary Authority of Singapore identifies central bank digital currencies as one of the potential solutions to challenges faced when making cross-border payments. As per the report, central bank digital currencies offer strategic advantages like 24-hour availability, anonymity, and the elimination of counterparty credit risk. The report outlines three models of wholesale-central bank digital currencies that could potentially be implemented based on geographical reach or acceptability.  
  • A new report published by Japan’s Financial Services Agency (FSA) finds that the number of inquiries by Japanese investors about cryptocurrencies declined in the third quarter of 2018. The report details that the Japanese financial watchdog received 1,231 inquiry requests in 3Q2018, down 23% from 1,602 inquiries in 2Q2018. The report goes on to detail that, of the 1,231 inquiry requests, 34% concerned general questions, 32% were related to individual transactions and contracts, and 34% were miscellaneous. In the first quarter of 2018, the FSA received a whopping 3,559 inquiry requests from Japanese investors.  
  • As per a report by the Wall Street Journal, the United States Securities and Exchange Commission (US SEC) has opened a probe into cryptocurrency loans company Salt Lending Holdings, a venture once associated with crypto industry leader Erik Voorhees. According to the report, the US SEC’s probe concerns Salt Lending’s 2017 USD$50 million token sale -- specifically, the probe will assess whether or not the token sale complied with US securities laws, how the tokens were used, and through what system Salt Lending employees received tokens. Founded in 2016, Slat Lending leverages clients’ cryptocurrency holdings as collateral against fiat currency loans.  
  • Binance, currently the world’s second largest cryptocurrency exchange, is advising its Iranian users to withdraw their funds in an effort to comply with international sanctions. “If you have an account with Binance and fall into that category, please withdraw your assets from Binance as soon as possible,” reads an email sent by Binance to Iranian users. Initially, Binance was shutting down wallets connected to Iranian passports provided as part of the exchange’s know-your-customer (KYC) system -- now, however, Binance is requesting that all users connected to an Iranian IP address withdraw their funds. This news follows an renewed sanctions on Iran by the United States, which took effect November 5th, 2018.  
  • Maksim Zaslavskiy, the suspect at the center of the United States’ first initial coin offering (CIO) fraud case, is pleading guilty and sending the case to its final stages. As per a Bloomberg report yesterday, Zaslavskiy could face up to 37 months in prison after defrauding investors who injected capital into two different ICOs last year. Zaslavskiy’s charges concern ICOs REcoin and Diamond Reserve Coin, two tokens that claimed to be backed by real estate and diamonds, respectively. “I, along with others, made these false statements to obtain money from investors,” said Zaslavkiy, adding, “We had not yet purchased any real estate, we had not purchased any diamonds.” 
  • Microsoft, the US-based software giant, has released a serverless blockchain-powered Azure development kits, dubbed the “Azure Blockchain Development Kit”. The product aims to increase the capabilities of Microsoft’s Azure Blockchain WorkBench, containing features like off-chain identity and data, messaging application programming interfaces (API), and monitoring to be used in blockchain-based applications. As per a Microsoft press release, the initial release of Azure Blockchain Development Kit will focus on addressing core goals such as connecting interfaces, integrating systems and data, and deploying smart contract capabilities on blockchain networks.  
  • The Central Bank of Azerbaijan (CBA) ruled out the possibility of the monetary authority issuing a central bank digital currency. While speaking to reporters in Baku, CBA first Chairman Alim Guliyev said that the CBA believes cryptocurrencies, digital currencies, and similar financial instruments, “come with great risks.” Specifically, Guliyev cited concerns of money laundering as the major reason for the CBA’s aversion to the possibility of a central bank digital currency.  



*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio