EU Parliament Pro Cryptocurrency

In a published report by the European Parliament called “Virtual currencies and central banks monetary policy: Challenges ahead” states that cryptocurrencies and its networks where they operate are relatively safe, transparent and fast which is good prospect for further development.

However the same report has ruled out the possibility that Bitcoin can replace sovereign currencies and central banks.

The report also disputed skeptics and critics that are saying that cryptocurrencies are primarily used in illegal activities.

Due to the anonymous nature of Bitcoin and cryptocurrencies, it is widely known that it is difficult to accurately determine how much of it is used for illegal activities forcing some countries to ban them.

However as more regulations are entering the space, more regulators are willing to consider the legitimacy and the use-case benefits of cryptocurrencies.

It EU body also states that the millennial will lead the charge in terms of cryptocurrency adoption.

Bullish News May Signal Bitcoin Price Rise

Brian Kelly, CNBC’s foremost crypto trader reveals his opinions what triggered the Bitcoin 15% run over the weekend.

Although there is no single news that would have triggered the uptrend Brian reveals three important news that might have influenced the price movements of Bitcoin.

First is the news of InterContinental Exchange (ICE), owner of NYSE, is working on their on cryptocurrency exchange.

This will bring unprecedented legitimacy in the space.

Second is Fidelity, which holds more than $2.45 trillion worth of assets, is working on a custodial service which further legitimizes the new asset class.

Lastly, the statement that came out of SEC stating that Ethereum is not security that is well-received by the crypto community.

Viber Launching Own Crypto

Rakuten, the Japanese multinational company that operates Viber has expressed its intention of releasing its own cryptocurrency called Rakuten Coin in which Viber will become its platform.

The Japanese company is said to be watching closely the regulatory development of Russia where it plans to launch this new service by 2019.

Earlier this year the company has already expressed their plans of rolling out its $9 billion loyalty program through a blockchain-base cryptocurrency.

They plan to roll out this new service using Viber as its main platform. For that purpose, Viber launched a service called Viber Community.

Rakuten wants to release the e-commerce platform in Russia by Q4 2018 where Rakuten Coin will be traded in exchange for. U.S. dollar, Euro, and the Russian Ruble.

Hong Kong Wants To Be The International Blockchain Hub

SFC, Hong Kong’s Securities and Futures Commission (SFC) states that they are keeping a close eye on cryptocurrencies and Initial Coin Offering (ICO) as they feel that new technology comes with significant amount of risk.

Given this fact the expressed determination to intervene whenever it is appropriate and called for.

In light of this initiative the agency have stepped up is efforts to define regulatory policies, took up actions against erring local exchanges and warning the public about the associated risk in participating in ICO as well as other cryptocurrency activities.

This is to give a clearer view of the regulatory landscape in its territory and at the same time nurture legitimate financial cross-border initiatives that uses blockchain.

This is being done in the hopes of building reputation as an important international blockchain hub.

Bitcoin No. 1 Investment For Institutional Investors

Many pundits have speculated that the main catalyst for the next cryptocurrency bull run will be institutional investors entering the market.

The Director of Element Group, a global-strategic partner, Thejas Nalval reveals that Bitcoin is the prime contender.

He explains that Bitcoin has the largest market capital and most liquidity.

This would mostly be where institutional investors want to be in.

He also added that of all the digital assets around Bitcoin has the strongest fundamentals behind it.

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