It has been concluded that 2018 was not the best year for both cryptocurrencies and the blockchain technology industry. However, a well-known Bitcoin evangelist, Charlie Shrem have expressed his optimism that the industry will surge in the new year and have a lot to offers for bitcoin and the other crypto in a recent interview in a program.
The Bitstamp has associated with Irisium Ltd aimed at the integration of Irisium’s monitoring platform on the trading platform which would bring effectiveness to the tracking of transactions. The CEO of Irisium, Alastair Goodwin stated, “Integrating Irisium’s innovative technology into Bitstamp’s platform will support compliant and effective operations” improving the market liquidity and integrity.
According to Tim Draper, the cryptocurrency market capitalization is expected to attain $80 trillion in the following 15 years. The venture capital investor believes that the familiarity of the technology would help transform the businesses. Draper quoted, “The internet started in the same way, it came in big waves,” and added that the same would occur concerning Bitcoin.
The Chamber of Digital Commerce Token Alliance has unveiled a report titled “Understanding Digital Tokens: Market Overviews & Guidelines for Policymakers & Practitioners.” The report came up with guidelines for the effective growth of the crypto sector. It had three sections covering the ‘regulatory overview, principles and economic coverage of the global token landscape.’
South Korea’s FSC has been reshuffled and the cryptocurrency organization has been established in the country to protect the financial consumers in a better way. The bureau will be in charge of observing the cryptocurrencies development in terms of its policy, and other financial technology. The reshuffling of South Korea’s financial watchdog is expected to bring steadiness in the crypto sector.
HSBC is observing the potential of cryptocurrency market. The bank has planned to join Standard Chartered and the other 21 banks for a blockchain-powered trade finance platform. The Global Head of Digital at HSBC, Josh Bottomley stated in an interview said, “We are cautious looking into this area.” The bank is already familiar with blockchain since it has experimented during May.
The Bulgarian Financial Supervision Commission (FSC) would be governing and observing the crypto market operation and ICOs launched in the country. It is aimed to curtail money laundering and finance terrorism activities and secure the interest of the investors. The regulatory body would be focusing on license and regulatory framework, development of innovation hubs and cyber-security risk management.
Although there is no official announcement, the rumor of Fidelity Investment entering cryptocurrency exchange space has been spreading like wildfire. The CEO of Fidelity support towards cryptocurrency made the rumors go louder and said, “It’s no accident that I’m one of the few standing before you today from a large financial services firm that hasn’t given up on digital currencies.”
The US Justice Department investigates whether the crypto traders influence the price of bitcoin and other cryptocurrencies. The probe is aimed at analyzing the causes of unlawful prices which can persuade the price of securities such as spoofing, fake trade, and others. The investigation is being carried on along with the Commodity and Futures Trading Commission.
According to the latest survey, the cryptocurrency market in Japan is currently doing very well despite government crackdowns. The study was conducted by Japanese Financial Services Agency revealed the trading volume has increased 5,000 times compared to trading volume in 2014 and dominated by young professional crypto enthusiast, aged between 20 and 30.