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Colorado introduces bill to exempt cryptocurrencies from securities laws as market pops

Jan 07, 2019

 

 
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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$4042.75 0.24% 4.66% 6.46% USD$70,619,438,408 USD$5,776,470,262
Ethereum ETH USD$154.11 0.52% 0.37% 12.77% USD$16,065,280,825 USD$2,986,076,356
EOS EOS USD$2.79 0.21% 1.8% 7.71% USD$2,529,763,967 USD$831,865,302
Litecoin LTC USD$38.3 0.74% 0.48% 23.25% USD$2,294,815,591 USD$698,025,102
XRP XRP USD$0.37 0.73% 3.04% 3.0% USD$15,039,379,787 USD$566,565,517

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
NEO NEO USD$8.63 0.14% 8.17% 10.93% USD$560,885,458 USD$161,346,014
Stellar XLM USD$0.12 0.55% 6.51% 6.2% USD$2,337,071,143 USD$96,308,031
Cardano ADA USD$0.05 0.97% 5.05% 17.9% USD$1,274,704,436 USD$56,919,933
Bitcoin BTC USD$4042.75 0.24% 4.66% 6.46% USD$70,619,438,408 USD$5,776,470,262
Monero XMR USD$52.29 -0.04% 3.68% 10.58% USD$873,149,179 USD$18,692,674

 

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Crypto Market Recap

  • Cryptocurrencies generally rallied over the weekend as Bitcoin (BTC) is trading higher by 3.79% since end of day Friday to USD$4,032. Litecoin (LTC) was the best performing major coin this weekend, up 14.53% since end of day Friday to USD$38.22. Ethereum (ETH), meanwhile, lagged the broad crypto market, falling 4.27% over the weekend to USD$153.31. Total cryptocurrency market capitalization added USD$3.3bn since end of day Friday and currently sits at USD$136.2bn.

Crypto Developments in Financial Services

  • Bitcoin (BTC) median transaction fees recently reached a 3-year low of just USD$0.029 per transaction, according to data on BitInfoCharts. As discussed by cryptocurrency researcher Kevin Rooke on Twitter, the BTC network is processing 75% more transactions since October 2015, but doing so in a more efficient matter. BTC transaction capabilities have been aided by scaling solutions like Segregated Witness (SegWit), a technological development that decreases the data size of a transaction, and the Lightning Network, a two-layer network with a current total capacity of over 557BTC (USD$2.26mm).

Crypto Regulatory Environment

  • A bipartisan bill introduced to the floor of the Colorado State Senate would effectively exempt cryptocurrencies from some securities laws in the state, as per official documents released January 4th. The, “Colorado Digital Token Act,” introduced by Republican Jack Tate and Democrat Steve Fenberg aims to offer the cryptocurrency industry more freedoms in an effort to define the industry’s local landscape. A summary of the proposals reads, “The bill provides limited exemptions from the securities registration and securities broker-dealer and salesperson licensing requirements for persons dealing in digital tokens.” 
  • Japan’s Financial Services Agency (FSA) is considering the approval of Bitcoin (BTC) exchange-traded funds (ETFs), according to a report by Bloomberg that cites an anonymous source. The Japanese regulator is reportedly fielding the interest for a BTC ETF with a possibility of granting approval for the instrument to trade on domestic markets. Additionally, the Bloomberg report highlights that Japanese regulators are against BTC futures trading, explaining that the FSA concludes that, “such products would achieve little besides stoke speculation.”

General Crypto News

  • After Epic Games’ popular video game Fortnite began to accept Monero (XMR) as payment method in its online store, the company has removed the payment option, explaining that it was a mistake. Epic EOS Tim Sweeney said on Twitter Saturday, “We worked with a partner to open a merchandise store, and somewhere along the way Monero payment was enabled,” adding that, “Many of us at Epic are big fans of decentralized computing tech underlying cryptocurrency, however a lot more work is needed on volatility and fraud-proofing before bringing it to such a broad audience that includes younger gamers.” 
  • Ledger, a popular cryptocurrency wallet company, announced that its Nano X device will feature Bluetooth capabilities at the Consumer Electronics Show (CES) in Las Vegas on Sunday. The Bluetooth feature will enable users to connect their wallet directly with their mobile devices, a long-standing pain point for many users of the company’s most advanced wallet. Ledger CEO Eric Larcheveque said while speaking to CoinDesk on Sunday, “The fact that we have a mobile application and it works with the Nano X is really the big evolution of the hardware for this lineup.”

 

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

Sources:

https://coinmarketcap.com/ 
https://coin360.com/ 
https://cointelegraph.com/news/colorado-considers-bill-giving-cryptocurrencies-limited-exemptions-from-securities-laws 
https://leg.colorado.gov/sites/default/files/documents/2019A/bills/2019a_023_01.pdf 
https://cointelegraph.com/news/colorado-securities-regulators-crack-down-on-four-more-icos-for-alleged-illicit-practices 
https://www.coindesk.com/colorado-senators-file-bill-to-exempt-cryptos-from-securities-laws 
https://www.ccn.com/bitcoin-transaction-fees-hit-three-year-low-as-lightning-network-segwit-help-btc-scale/ 
https://bitinfocharts.com/bitcoin/ 
https://twitter.com/kerooke/status/1081264457274187776?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1081264457274187776%7Ctwgr%5E363937393b636f6e74726f6c&ref_url=https%3A%2F%2Fwww.ccn.com%2Fbitcoin-transaction-fees-hit-three-year-low-as-lightning-network-segwit-help-btc-scale%2F 
https://cointelegraph.com/news/bloomberg-japan-gauges-interest-in-bitcoin-etf-as-pundits-talk-down-us-approval-rumors 
https://www.bloomberg.com/news/articles/2019-01-07/japan-is-said-to-explore-crypto-etfs-after-snubbing-futures?srnd=technology-vp 
https://www.ccn.com/japans-financial-watchdog-might-approve-cryptocurrency-etfs-after-saying-no-to-futures/ 
https://cointelegraph.com/news/epic-games-fortnite-store-starting-to-accept-monero-was-accidental-ceo-confirms 
https://fortniteintel.com/2018/12/19/epic-launches-online-fortnite-merchandise-store-cleverly-named-retail-row/ 
https://www.ccn.com/epic-games-fortnite-are-not-into-crypto-yet/ 
https://bitcoinist.com/ledger-nano-x-bluetooth-iphone/ 
https://www.coindesk.com/ledger-crypto-wallet-goes-mobile-with-bluetooth-ready-nano-x

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