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Cryptocurrency Midday Report

May 18, 2018

  • Five petitions have now been filed against the Reserve Bank of India (RBI) stemming from their bank on cryptocurrency activity in the country. There is a three month deadline for financial institutions to comply with the notice which is putting pressure on the crypto space in India. The high courts have been ordered not to entertain any more petitions regarding RBI’s crypto order
  • The Tel Aviv Stock Exchange (TASE), has partnered with Accenture and Israeli tech  firm, The Floor, to develop a blockchain securities lending (BSL) platform. This platform will facilitate direct lending of all financial instruments using blockchain technology. The project will be based on Hyperledger Sawooth that uses Proof of Elapsed Time consensus algorithm
  • The South Korean Customs will test a large-scale blockchain technology system with 50 local companies. The blockchain technology will track the country’s import/export activity. The system will aim to issue Certificates-of-Origin (CO) via the distributed blockchain ledger
  • According to a recent report by Etoro, only 8.75% of crypto traders are Women. The survey also showed that Bitcoin (BTC) does not exhibit gender imbalance but Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) remain male dominant. Interestingly, women are inclined to own and trade Ripple (XRP). Also, most crypto traders are beginnings – 82% of traders fall under the novice level from a choice of beginning, novice and advanced
  • Monex, which acquired previously hacked Coincheck, has plans to expand the exchange to the US.  The CEO expects the exchange to first receive an official license from Japanese authorities next month. Coincheck was hacked in January as USD$523mm was stolen, yet the exchange refunded all harmed customers