Here we go again, with the most important (in my opinion, at last) news from last week in crypto.
Monday- Spanish Government To Use Blockchain In Country's Administration
The ruling party in Spain proposed to use blockchain in country's administration, according to a news published on Cointelegraph
The bill was introduced to the Spanish Congress on June 22 and published on the official website of the legislative branch on June 26. It hasn’t been reviewed by other deputies yet. The Congress website has not provided any further information on the bill’s details so far. [...] Partido Popular considered to give tax breaks to companies that use Blockchain technology. The relevant legislation was set to be finished by the end of the year.
All in all a very interesting development, which could hint at further (de)regulation of crypto in Sain.
Tuesday: IBM Blockchain, Based On Hyperledger, Finalizes First Commercial Inter-Bank Transactions
we.trade, a financial platform which aims to create frictionless bank transfers cross-countries, using blockchain, confirmed that the first live trades have taken place on the platform. Over the last 5 days, 20 companies have executed trades, via 5 banks.
we.trade was set up by a consortium comprising: Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Societe Generale and UniCredit.
Wednesday: STEEM Trading At A 20% Premium On Bithumb
During last week, STEEM was trading abnormally high on Bithumb, with orders as high as $2/STEEM being executed on a regular day.
This trend continues even today, where the price was, at the moment of writing, $1.98/STEEM, but Coinmarketcap stopped including Bithumb price feed in the main markets area.
Thursday: Malta Just Regulated Crypto, By Passing Three Major Laws About DLT (Distributed Ledger Technology)
According to a news published by Malta Today, the House (a.k.a. Parliament) voted on a series of bills, enacting them into laws. What really interests us from this event is a group of 3 bills, namely: the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act.
Without going into details, these three laws are basically making crypto legal in Malta.
Friday: Binance Looking For $1 Billion In Profit This Year
In an interview aired by Bloomberg, Binance, the number one crypto exchange announced they are expecting profits up to $1 billion this year.
It's not yet clear if the profits will come solely by margin trading, or if the Binance token - which is basically "money out of thin air" - will play a relevant role in these numbers.
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