Last week, we marked a new dip in prices on the cryptocurrency scene, affecting all leading crytocurrencies and crypto tokens. The week ended with a total market capitalization of 311 billion dollars, or in other words, with a 14% drop. The price for an ETH on the evening between Saturday and Sunday was $557 , reaching its lowest point for the week. Bitcoin could not break free from this trend and go up, and its price fell below the $8 000 line.
Right now, we believe the market is fairly close to the extreme end of fear. As difficult as it is to be a buyer right now, we believe it offers a lot of potential.
Stay informed with the development of the blockchain industry and the cryptocurrency market. Subscribe to our newsletter here.
France to make ICO implementation easier
The French Government, together with Autorite des Marches Financiers(AMF), are working on a legislation that would make future ICOs in the country safer for investors and easier to conduct. Along with the legislation, the government also published a public list of sites of ICOs that they will not tolerate and consider fraudulent.
France will keep a close eye on such projects and learn along the way, aiming to be the first country in the European Union to come up with a legislative framework on how they will be conducted.
Sierra Leone with the first blockchain election
At the last presidential elections nearly 70% of the citizens in the country voted with the help of blockchain. The technology comes from Agora, and their blockchain provides an unprecedented level of security and anonymity of the vote. The country has close to 8 million citizens. The organization of the election cost considerably less for the government, while at the same time drastically lowered the opportunities for corruption.
Coinbase with a license for e-money in the UK
Good news for those who wish to trade with cryptocurrencies on the Island and in Europe. From a regulatory standpoint, this means that Coinbase has the right to issue e-money and to support transactions in the country. Clients’ money in British pounds will be stored in separate bank accounts. This is an additional security measure for the clients of the platform and means that in case Coinbase bankrupts, their money will be protected. The whole amount will not be covered by the British regulator, but this surely is a step forward in the right direction, and it will also provide a better service for clients in the UK and EU.
Coinbase announced that the business of the company in the European Union has doubled during 2017. The UK remains the leader in the volume traded in the region.
AirAsia with a new payment platform, plans an ICO
Leading in the low cost sector in Asia, AirAsia announced their plans to conduct an ICO later this year. CEO Tony Fernandes confirmed that the company is in the process of developing completely new payment platform that will combine the functionality of crypto tokens and the already existing loyalty program for their clients BIG Points.
This is the second big ICO announced after the Telegram one that could aim at selling tokens for a few billion dollars. Tony Fernandes himself said that he is not worried by regulations that could harm him, based on the fact that the industry in which he operates is one of the most regulated, and he has experience in such circumstances.
The news and other materials, published here, are for educational purposes only and do not provide recommendations or suggestions related to making deals with cryptocurrency, crypto tokens, smart contracts or other products of the blockchain technology. The products of blockchain technology (cryptocurrency, crypto tokens, smart contracts and others) are not regulated or protected by the legislations of the EU or the Republic of Bulgaria at present. Deals with products of blockchain technology (cryptocurrency, crypto tokens, smart contracts and others) have a high degree of risk.