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Cryptocurrency Morning Brief

May 23, 2018

  • Every Capital is launching Australia’s first retail crypto hedge fund with the goal of making crypto assets accessible to every Australian investor. Investors will be able to sign up in a fund that covers a range of cryptocurrencies and initial coin offerings (ICOs). Every Capital has partnered with leading crypto fund manager Astronaut Capital and specialist asset manager Global Merces
  • The Pentagon and Defense department are weighing on whether owning cryptocurrency is problematic for those who already have security clearances and for those individuals requesting government security clearances. The US agencies may definite digital currency owners as a security risk to protect foreign and domestic classified information. A Department of Defense employee indicates that the security specialist recommends individuals who apply for security clearance need to report their cryptocurrency holdings
  • Steemit, the platform of cryptocurrency of Steem (STEEM) has announced they have over 1,000,000 users. The blockchain processes over one million transactions daily. The Steemit.com website receives over 250,000 unique visitors every day
  • CheapAir.com adds Litecoin (LTC) Dash (DASH) and Bitcoin Cash (BCH) to its payment options for travelers. The firm first begin accepting cryptocurrency by agreeing to receive payments in Bitcoin (BTC) back in 2013. The firm reportedly has is deciding to add these cryptocurrencies due to improved transactability, faster transaction times and lower fees compared to Bitcoin (BTC)
  • The Monetary Authority of Singapore (MAS), is proposing changes to existing regulations that would ease market entry for blockchain-based and decentralized exchanges. According to a paper published yesterday, the MAS states that the single tier “recognized market operators” regulatory framework cannot meet the demand for new business models based on such emerging technologies. A new 3-tiered system is being proposed to facilitate new entrants that develop solutions for wholesale market participants
  • Chilean President, Mario Marcel has recently made comments in favor of developing a regulatory apparatus for virtual currencies. This openness contrasts the country’s recent banking embargo targeting cryptocurrencies in Chile. In April three cryptocurrency exchanges lost their banking privileges yet via appeals, Chile’s anti-monopoly court ordered two ten banks to re-open the exchanges accounts. The Chilean government then issued a statement that they are not in favor or against cryptocurrencies, but simply see them as another innovation
  • MIT is demoing a use case for bitcoin’s lightning network – how the cryptocurrency can be combined with smart contracts to not only handle millions of transactions, but also with more complexity. The university’s digital currency initiative began in 2015 yet this is the first time an idea has been implemented as a prototype with working code

Sources:

https://www.cryptoninjas.net/2018/05/22/every-capital-to-offer-retail-crypto-asset-and-ico-fund-for-australians/

https://news.bitcoin.com/bitcoin-owning-contractors-with-u-s-security-clearance-may-be-flagged-risky/

https://btcmanager.com/steemit-announces-over-1-million-users/

https://coinjournal.net/cheapair-com-adds-litecoin-and-dash-opens-up-payment-options-for-travellers/

https://www.coindesk.com/singapore-proposes-regulatory-boost-for-decentralized-exchanges/

https://news.bitcoin.com/chilean-president-considering-regulation-cryptocurrencies/

https://www.coindesk.com/mit-testing-smart-contract-powered-bitcoin-lightning-network/