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Cryptocurrencies are mixed as US SEC reiterates ICO regulatory guidelines

Feb 11, 2019

 

 
High Machine Learning Accuracy Rates for CryptocurrenciesHigh Machine Learning Accuracy Rates for Cryptocurrencies
High Machine Learning Accuracy Rates for CryptocurrenciesHigh Machine Learning Accuracy Rates for Cryptocurrencies

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$3653.26 0.09% -0.13% 5.56% USD$64,051,846,233 USD$6,335,818,479
Ethereum ETH USD$121.47 -0.01% 2.27% 12.62% USD$12,732,101,119 USD$3,284,788,777
Litecoin LTC USD$42.89 -0.34% -8.01% 25.84% USD$2,591,732,720 USD$1,267,856,910
EOS EOS USD$2.79 0.01% 1.45% 16.32% USD$2,527,588,775 USD$914,797,665
XRP XRP USD$0.3 -0.13% -0.36% 0.86% USD$12,533,505,954 USD$492,905,664

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
Dash DASH USD$79.38 -0.38% 7.67% 18.4% USD$684,645,098 USD$213,718,024
NEO NEO USD$8.22 2.53% 5.74% 15.83% USD$534,076,836 USD$179,737,633
Ethereum ETH USD$121.47 -0.01% 2.27% 12.62% USD$12,732,101,119 USD$3,284,788,777
EOS EOS USD$2.79 0.01% 1.45% 16.32% USD$2,527,588,775 USD$914,797,665
Cardano ADA USD$0.04 0.66% 1.31% 10.61% USD$1,091,021,604 USD$21,950,633

 

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Crypto Market Recap

  • Cryptocurrencies continue to remain broadly mixed after a directionless trading weekend as the price of Bitcoin (BTC) is down 0.15% in the last 24 hours to USD$3,652.39. Dash (DASH) is posting the largest gains among major cryptocurrencies, appreciating 7.62% in the last 24 hours to USD$79.33. Maker (MKR) and Binance Coin (BNB) are also posting notable gains this afternoon, up 5.00% and 3.75% in the last 24 hours to USD$476.96 and USD$9.53, respectively. Litecoin (LTC), meanwhile, has fallen the most among major coins this afternoon, down 7.95% in the last 24 hours to USD$42.93.

Crypto Developments in Financial Services

  • Bakkt, the highly anticipated digital assets trading platform operated by the Intercontinental Exchange (ICE), officially completed its first acquisition, according to an official tweet from the company. The tweet reads, “With today’s closing of our transaction with Rosenthal Collins Group, we welcome great new team members to Bakkt,” adding that, “RCG’s remarkable heritage, culture, and expertise will help us build out a trusted institutional infrastructure for digital assets.” Additionally, ICE discussed in an investor earnings call that it expects Bakkt, “will generate $20 million to $25 million of expenses based upon the run rate in the first quarter.” 
  • Union Bank, a major Philippines bank, has officially launched the Philippines’ first two-way cryptocurrency ATM in collaboration with the country’s central bank, Bangko Sentral ng Philipinas (BSP). According to an article published by news outlet Philstar, the two-way ATM will provide, “an alternative channel to convert their pesos to virtual currency and vice versa.”

Crypto Regulatory Environment

  • The US Securities and Exchange Commission (SEC) took to Twitter on Sunday to reiterate regulatory guidelines for initial coin offerings (ICO). In a tweet on its official Twitter account, the SEC provided a link to a section of its website that outlines the regulatory organization’s view on ICOs. A summary of the guidance on the SEC website reads, “Companies and individuals are increasingly considering initial coin offerings (ICOs) as a way to raise capital or participate in investment opportunities. While these digital assets and the technology behind them may present a new and efficient means for carrying out financial transactions, they also bring increased risk of fraud and manipulation because the markets for these assets are less regulated than traditional capital markets.” 
  • The Bank of Spain, the country’s central bank, published a notice warning citizens of the risks involved in transacting through unregulated cryptocurrencies. The document published by the Bank of Spain outlines that regulators in the country have yet to pass any legislation in regard to cryptocurrencies, crypto exchange platforms, or cryptocurrency industry members. The Bank of Spain warned investors that, in cases where cryptocurrencies were used for the purchase of goods or services, it would be an, “impossible mission,” for a consumer to claim their rights if anything with the transaction went awry.

General Crypto News

  • Scott Gottlieb, a Commissioner of the US Food and Drug Administration (FDA), is suggesting the creation of an open pilot blockchain platform for the pharmaceuticals industry. According to a press release published last week, The Pilot Project Program Under the Drug Supply Chain Security Act will aim to connect and integrate pharmaceutical companies through use of emerging innovative technologies. FDA Commissioner Scott Gottlieb commented in the press release, “We’re invested in exploring new ways to improve traceability, in some cases using the same technologies that can enhance drug supply chain security, like the use of blockchain.” 
  • The US state of California is seeking to tackle drought through a collaboration between IBM Research and SweetSense, a sensor tech provider, according to an official press release published Friday. IBM Research and SweetSense is partnering with non-profit organization The Freshwater Trust (TFT) and the University of Colorado Boulder to use blockchain technology and Internet of Things (IoT) to sustainably manage groundwater use in, “one of the largest and most at risk aquifers in North America.”

 

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

Sources:

https://bitcoinist.com/philippines-union-bank-bitcoin-atm/ 
https://clientebancario.bde.es/pcb/es/menu-horizontal/actualidadeducac/blog/Monedas_virtual_cbe6637bc58c861.html?blog=/webcb/Blog/EducacionFinanciera 
https://coin360.io/  
https://coinmarketcap.com/  
https://cointelegraph.com/news/bank-of-spain-warns-citizens-against-crypto-given-lack-of-local-regulations 
https://cointelegraph.com/news/fda-commissioner-suggests-using-blockchain-for-new-supply-chain-open-pilot 
https://cointelegraph.com/news/ibm-partnership-uses-blockchain-iot-to-combat-drought-in-california 
https://cointelegraph.com/news/major-philippines-bank-union-bank-launches-two-way-crypto-atm-report 
https://cointelegraph.com/news/nyse-operators-crypto-platform-bakkt-finalizes-its-first-acquisition 
https://cointelegraph.com/news/us-sec-highlights-dedicated-ico-guide-amid-ongoing-regulatory-debate 
https://twitter.com/Bakkt/status/1093951511556771841 
https://twitter.com/SEC_News/status/1094625816254791681 
https://www.ccn.com/a-major-philippine-bank-just-launched-crypto-atms-and-it-may-fuel-massive-bitcoin-adoption 
https://www.coindesk.com/ibm-blockchain-assists-groundwater-pilot-in-drought-prone-california 
https://www.coindesk.com/nyse-parent-ice-anticipates-over-20-million-spend-on-bakkt-this-year 
https://www.coindesk.com/sec-commissioner-peirce-confirms-guidance-on-crypto-tokens-is-coming 
https://www.europapress.es/economia/finanzas-00340/noticia-banco-espana-recuerda-monedas-virtuales-no-estan-reguladas-advierte-riesgos-20190210102941.html 
https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm630942.htm 
https://www.federalregister.gov/documents/2019/02/08/2019-01561/pilot-project-program-under-the-drug-supply-chain-security-act-program-announcement
https://www.philstar.com/business/2019/02/06/1891103/unionbank-launches-first-virtual-currency-atm 
https://www.prnewswire.com/news-releases/state-of-california-tackles-drought-with-iot--blockchain-300792331.html 
https://www.sec.gov/ICO

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