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Cryptocurrency Midday Report

Jun 18, 2018

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  • Digital payments firm, Square, has received a BitLcense from New York state regulators. Square is the ninth firm to receive the license and the firm will now be able to offer cryptocurrency-related services in New York state. Square allows users to buy bitcoin from its Cash app. The firm booked a small profit from the USD$34mm in crypto-related revenues reported in its most recent financial report
  • Etoro has added Cardano to its cryptocurrency offerings. The firm already provides Bitcoin, Ethereum, Litecoin, Ripple and Dash on its cryptocurrency trading platform. The broker announced it will include 11 tokens eventually. In the firm’s announcement in May, it noted that the firm will venture into the US and apply its social trading services to cryptocurrencies.
  • Japan’s SBI Virtual Currencies, the cryptocurrency exchange of SBI group has announced it now offers Bitcoin, Bitcoin Cash and Ripple on its crypto exchange. All cryptos will be traded with the fiat pair of the Japanese Yen ¥. SBI Virtual Currencies is one of the 16 approved cryptocurrency exchanges by the Japanese government and the exchange was launched on June 4th of this year. The full launch will be rolled out next month.
  • The Bank for International Settlements (BIS) has declared that cryptocurrencies are not ready for prime time and that they could bring the Internet to a halt. Some of the issues cited are: high volatility, electricity consumption and scaling inabilities. However, the report fails to mention proposed solutions like scaling, or the Lightning network. The BIS does however see from Distributed Ledger Technology.
  • Quantamize’s AI Machine Learning 3-Day trading signals were updated Sunday 6/17/18 and will be updated on Wednesday 6/20/2018. Quantamize's AI Machine Learning CryptoFolios were updated Sunday 6/17/18 and will be updated on Sunday 6/25/2018