ICO Legalization Guidelines Proposed In Japan

The ICO Business Research Group published on April 5, 2018 a guideline titled “Call for Rule-making on ICO” asking the Japanese government to set appropriate rules and clear practices that will spur growth and at the same time protect ICO investors and issuers alike.

The proposed guidelines will require ICO operators to perform KYC verification on all contributors and provide them copious disclosures prior to the start of the sale and regular updates regarding the project roadmap.

Although these proposals might take several years to be codified into law, the group believes that it would likely further cement Japan’s status as of the world’s leading cryptocurrency and Blockchain development hub amid regional competitor’s hard line stance against ICOs.

US SEC Reconsiders Bitcoin ETF Proposals

US Securities and Exchange Commission (SEC) started proceedings to determine if a rule change is warranted to allow listing of two exchange-traded funds (ETFs) proposed by fund provider Proshares.

SEC had initially expressed reluctance to approve such products as few investor protections are in place. Rule change proposal will be published in the Federal Register.

As per SEC’s rules the public will have 21 days to comment on this change proposal and another 14 days to submit rebuttals.

Comments and rebuttals can be submitted via SEC’s email or its website. Comments or rebuttal submission should have a reference file number SR-NYSEArca-2017-139 on the subject line.

Monex to Takeover Coincheck

Coincheck has accepted a takeover bid of Monex. Coincheck is a Tokyo-based cryptocurrency exchange which has been hit with the biggest cryptocurrency heist ever earlier this year.

It is expecting inflow of several billion Yen in fresh new capital from the Monex group.

A revamp on management is expected to regain investor trust, with Monex chief operating officer taking over as new president.

Monex group is a leading Japanese online brokerage which is seeking the leverage blockchain technology and Coincheck’s attractive customer base.

Coinbase will enable Bitcoin Forks Funds Withdrawal

In a statement on its blogsite Coinbase will enable its customers to withdraw funds resulting from Bitcoins forks.

Although customers will be able to withdraw assets stemming from Bitcoin forks they will not be able to trade it in Coinbase or GDAX (Coinbase’s digital asset exchange platform).

For the time being, Coinbase is not announcing support for any of the forked digital asset.

However, Coinbase support for future Bitcoin forks will likely to happen on a different platform on its Coinbase Custody product.

Bitcoin will find new footing after tax day (April 17)

A former Chief equity strategist of J.P. Morgan Chase and Wallstreet analyst Tom Lee revealed that despite the falling prices of Bitcoin, US investors and crypto exchanges are still likely to owe up to a trillion dollars in capital gain taxes.

Many have keep working capital in BTC/ETH and are now selling to meet tax liabilities.

The “massive outflow” from cryptocurrencies would likely continue up until tax day, April 17.

This tax-related selling that has been happening in March will finally come to an end in a little more than a week from now and ultimately we expect Bitcoin to find its new footing towards bullish trend.

Headlines for the world of Cryptocurrencies - April 05, 2018 Soaring Demand For Canadian LocalBitcoins Amid Bearish Market Sentiments / Fair Trade Commission Of Korea Protects Crypto Investors / Young Japanese Male Work Force Invest In Cryptocurrencies / Japanese online broker Monex buying Crypto exchange Coincheck / Coinbase Commerce API Released!
Headlines for the world of Cryptocurrencies - April 04, 2018 Skype Powered Over-The-Counter Market Flourishes / International Law Firm MorrisonCohen Launches “MoCo Cryptocurrency Litigation Tracker” / Wyoming Shaping Up As America's "Crypto Valley" / Cryptocurrency Ad Restrictions Spur A Whole New Marketing Industry And Global Scale Coalition
Headlines for the world of Cryptocurrencies - April 03, 2018 Huobi Research Survey Shows Most Cryptocurrency Investors Still Bullish /Online Brokerage Robinhood Launches Commission-Free Trading In Four US States / Seoul, South Korea Is Planning To Develop Its Own Cryptocurrency