VeChain Up 7.54%, Outperforming Other Cryptos
Jul 27, 2018
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- The SEC rejected application for a Bitcoin ETF by Winkelvoss twins again. In its rejection, the SEC cited as a major concern the fact that “a significant portion of Bitcoin trading occurs on unregulated exchanges outside of the United States”.
- The Law Commission of India published a report regarding the legal status of sports betting and gambling in the country, referencing cryptocurrencies. The report recognizes cryptocurrencies as a method of payment for betting and wagering. The report also stated that “gambling transactions should be made cashless, making use of electronic means of payment such as credit cards, debit cards, net-banking, virtual currencies (VC – also known as cryptocurrency), etc.”
- KICKICO, a blockchain-based platform allowing people to invest in ICO’s, had 70 million KICK tokens stolen in a recent hack. KICKICO is a very popular and easy platform to use, it has helped launch over 20 projects resulting in successful ICOs. KICKICO tweeted out after the attack that all wallets are safe, and all stolen tokens will be returned.
- Monex Group, an online broker that bought Japanese digital asset exchange Coincheck last spring, has announced plans to launch a U.S.-based trading platform. The platform will be called TradeStation Crypto Inc. and will be a crypto-focused subsidiary of TradeStation, also a subsidiary of Monex. Monex’s CEO also reported that Coincheck will be fully functioning within the next month after its hack.
- A Bank of Canada (BOC) paper suggests a central bank-backed digital currency could boost consumption 0.64 points in Canada and 1.6 points in the United States. The BOC analysis argues that substituting a digital currency for cash would permit central banks to have a higher level of flexibility in managing monetary policy.
- Xiong’An Blockchain Fund is denying a report that that the Hangzhou city government has demanded it stop promoting itself as a government-backed fund. The report, published by China Business Journal also stated that the local government had decided to halt all further capital contributions to the project. Li Xiaolai, the fund’s ex-managing partner, rejected these claims.
- Accenture Global Solutions is considering using blockchain technology to streamline and automate shipping logistics. The blockchain system would determine defined characteristics for items shipped and store that information. Items will then be tracked as they are shipped from one location to another, using the data stored on the ledger to confirm their status and condition.
- The CME announces it will not be introducing futures on Altcoins any time soon. The exchange cites the novelty and volatility of altcoins as the biggest impediment to launching futures on these products. CME CEO Terry Duffy explained that the company will be continue focusing on Bitcoin (BTC) approaches.
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