Crypto Week In Review
Welcome to another installment of the crypto week in review. If you never read one of those, it's a minified rewinding of the past week, with just one news per day.
Without further ado, let's start:
Monday: G20 Will Not Create, Nor Enforce, Any Specific Regulations For Crypto, At Least Until October 2018
At a meeting of the Finance Ministers and Central Bank Governors, called, for reasons beyond my comprehension, FATF, a decision has been made to not do anything too strong about crypto - at the group level - until October 2018. The meeting took place in Argentina and ended last Sunday.
Not enforcing stricter regulations is a very wise thing to do, and it appears that G20 is finally getting the grip of this crypto thingie.
Tuesday: Bitcoin ETF Approval Delayed Until September 21st
According to a Federal Register notice published on Tuesday, SEC will decide wether it approves or not a Bitcoin ETF on September 21st.
Later on, we found out the notice was about another request, not the one that we all expect the results to be published on August 15th. That one is still on the cards.
Wednesday: South Korea KT Telecom Introduces Blockchain To Its Network
KT, South Korea state-owned telecom announced on Wednesday they will introduce blockchain in a few key areas of their business: 5G, finance and energy platforms.
It's not yet clear how and where exactly this technology will fit, but what is clear is the KT hopes to ride the PR wave of the "if it's on the blockchain, it must be good" trend.
Thursday: Winklevoss Twins Bitcoin ETF Got Rejected
The SEC has rejected a second proposal to list and trade shares of the Winklevoss Bitcoin Trust on the Bats BZX Exchange, which would essentially be the launch of the first Bitcoin ETF. Cameron and Tyler Winklevoss, founders of the Gemini cryptocurrency exchange and big proponents of Bitcoin, have already been rejected in March 2017.
One of the commissioners, though, Hester Peirce, was in favor of this, and made some very interesting comments on Twitter about it. For a short while, the market tumbled, but then recovered to previous levels.
Friday: UK Remittance Service TransferGo Adds Crypto Trading
UK-based service TransferGo has reportedly become the world’s first remittance operator to offer crypto trading, according to a story published on Cointelegraph.
TransferGo now lets customers buy and sell five major cryptocurrencies –– Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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The barriers of crypto is being broken as the days of pushing out the inevitable. Where crypto becomes common for all and accepted by the general public. Thanks.
What a great review
G20 is taking a more causious and sensible approach and that is good...
Excellent review, I learn a lot by reading your analysis since everything is explained in a very simple way
Thanks for the info
Didn’t know about transferGO and I live in UK😀
Excellent review sir .
Fantastic week updates . Thanks for the information . You are much oblige for sharing @dragosroua
Great review sir.Much obliged for sharing it
The G20, G7 or whoever is involved should stay out of the cypto space. We don't need any regulatory interference and are doing just fine on our own
Completely agree
We do not need politics in crypto
Coins mentioned in post:
Yes, it would good for a Korean Blockchain on the Network.
A number of tokens are already in the market and this trend is going broad day by day.