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Cryptocurrency Midday Report

May 22, 2018

  • China Central Television (CCTV) has said that domestic initial coin offerings (ICOs) are still rampant despite a 2017 ban. The network went on to discuss that “air coins”, or token projects that are not backed by legally registered business entities have increased by 30x since the ICO crackdown. Recently, organizers of two cryptocurrency-related projects in China have been arrested for alleged fundraising fraud
  • A new crypto teller machine is now operational in Johannesburg, South Africa. The ATM supports several digital coins and joins a growing number of terminals offering automated crypto-fiat exchange services in the country and across the continent. Customers can buy Bitcoin (BTC) Ethereum (ETH) and Litecoin (LTC) with fiat cash, but the machine does not support any selling of cryptocurrencies
  • Japan’s largest bank, Mitsubishi UFJ Financial Group (MUFG) is partnering with Akamai to handle up to 1mm transactions per second using blockchain technology. The platform will confirm transactions within 2 seconds or less and batches of transactions will adhere to the same schedule. The two firms goal is to process up to 10mm transactions a second at some point in the future
  • Lawmakers in Taiwan are forming a new parliamentary group aimed to foster the growth of the nation’s emerging blockchain sector. The group will be called the Taiwan Parliamentary Coalition for Blockchain (TPCB). The head of the organization, is hoping to make Taiwan a “crypto-nation” and a “blockchain island” by attractive venture capital funds and crypto exchanges
  • The Bitcoin community is celebrating the 8th anniversary of the “Bitcoin Pizza Day” which is a celebratory day of a Pizza purchased with Bitcoin. On today’s date 8 years ago, Bitcoin was trading at $.0004 and Laszio Hanyecz purchased two pizzas from Papa John’s for USD$41 using 10,000 BTC