Cryptocurrency End of Day Recap
Jul 03, 2018
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- The biggest thing that the cryptocurrency market has been missing out on is institutional investments. LGO Exchange is looking to launch an institutional-grade cryptocurrency exchange that would be able to handle fiat transactions too. By onboarding clients from its existing Gibraltar Stock Exchange (GBS), LGO hopes to be the kickstart institutions need to invest in cryptocurrencies. Before this happens however, government regulation needs to increase, along with safety on the exchanges, and liquidity of the cryptocurrencies needs to increase.
- Earlier in 2018, the newly founded company Cryptology has launched one of the first exchanges to combine cryptocurrencies and fiat money transactions. Cryptology offers a web version and a mobile app, and the fact that it accepts fiat currencies makes it very user-friendly, especially for those not experienced in trading cryptocurrencies. Cryptology may become increasingly popular throughout the rest of the year and it could open the door to cryptocurrency trading for those new to the industry.
- The Reserve Bank of India (RBI) initially gave a 3-month window for financial instructions to cease activities back in April, and the window closes on July 5th. However, crypto-to-crypto trading will still be available, and traders will still have access to exchanges. Money will be able to be stored in stable coins if needed. Once the ban is in place, it will be challenging for new traders to enter the market. The exchanges and financial institutions have felt that this ruling is unfair, but the result seems to be locked in at this point.
- Block Stocks has gained regulatory approval from Swiss regulators to launch its own fundraising platform. The platform will launch a blockchain-based digital token sale system for startups as well as small to mid-sized businesses. The firm will aim to offer an alternative for smaller companies to raise capital and provide security for companies and investors. Each investment opportunity will be prescreened. The Block Stock legal team will work with Swiss law firms to ensure that businesses on the platform receive full assistance during security issuance, investment prospective preparation and other regulatory fundraising aspects