Cryptocurrency Cryptocurrency Updates: Bakkt delay, Tron event, Banco Santander fraud and more. Published 2 months ago on November 20, 2018 By Coinnounce - Coin Announcements Share Tweet Bakkt launch delayed Bakkt, Bitcoin futures exchange every cryptocurrency enthusiast has been waiting for has been delayed from its earlier launching in December this year to January next year. But the reason for the delay is quite interesting. The official statement from the exchange said: Given the volume of interest in Bakkt in the work required to get all of the pieces in place, the company has settled on January 24, 2019, start date in order to ensure that our participants are ready to trade on day 1. Does this mean that the big whales are coming with big wallets? If yes, we can expect a huge surge in cryptocurrency prices soon. Kobe Bryant will be talking at the TRON’s cryptocurrency event Kobe Bryant, the famous basketball player of the Lakers Club who is also seen an ‘investment guru’ by many people as he turned lucky by turning $6 million into $100 million when Coca-Cola bought a company Kobe had heavily invested in will be speaking at the TRON’s upcoming cryptocurrency event. Will Koby will able to create the same magic with TRON? Let’s wait and see. Peru’s Central Bank says Cryptocurrencies are risky Peru’s central bank calls cryptocurrencies as risky investments due to high volatility. The bank also mentioned the illicit uses of cryptocurrencies such as money laundering, drugs, and terrorism. While Peru is not a country with much crypto activity, the central bank is taking notice. Spain Finance Ministry to inspect cryptocurrency holders for tax fraud The Financial Ministry of Spain has order inspection and monitoring more than 15000 taxpayers to prevent tax fraud in the country as a part of its tax control plan. Checking to see if the cryptocurrency holders are laundering money and if they are accurately declaring their income. Banco Santander being investigated for Fraud Banco Santander, the giant Spanish bank has been drawn into Germany’s massive fraud investigation with German investigators stating that they suspect the bank of having planned and executed trades that facilitated severe tax evasion from 2007 to 2011 with billions of Euros at stake. Related Topics:BakktBakkt ExchangeBakkt launchbanco santanderBanco Santander FraudBitcoinBitcoin futuresCentral Bank of PerucryptocurrencyCryptocurrency FuturesKobe BryantPeru Central BankSpainSpain CryptocurrencyTronTRON event Up Next Craig Wright, Stock Markets, Technology, Manipulation: What is the reason for Cryptocurrency Crash? Don't Miss Craig Wright: ETH is useless, XRP is an Illegal Scam Continue Reading You may like Top 10 Friendly Countries for Blockchain Startups Stock Exchange of Thailand moving towards Cryptocurrency Bitcoin and Dark web: Transactions increasing, Values decreasing Trump Government Shutdown: Impact on Bitcoin ETF, Bakkt and Cryptos. Bitcoin Lightning Network Updates 2019: Advancements and Forecast France Yellow Vests Bank Run: Fractional Reserve Banking Fraud, Is Bitcoin The Real Solution? 2 Comments 2 Comments Pingback: Cryptocurrency Updates: Bakkt delay, Tron event, Banco Santander fraud and more. - Satoshiuncle Pingback: Cryptocurrency Updates: Bakkt delay, Tron event, Banco Santander fraud and more. – The Coinage Times Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Exchange Stock Exchange of Thailand moving towards Cryptocurrency Published 10 hours ago on January 19, 2019 By Layla Harding The Stock Exchange of Thailand or the SET is working out for applying for a digital license in order to run a cryptocurrency exchange. With continuous regulations, Thailand is set to become the cryptocurrency hub in Southeast Asia. Stock Exchange of Thailand: Interested in Crypto As more and more people are moving towards adoption of cryptocurrencies, institutional investors are getting attracted too. As such there not many specific institutional platforms for trading cryptocurrencies and thus the stock exchange of Thailand is planning to introduce one for the institutional investors. If the financial regulators in Thailand approve the licensing, it would be a great step ahead for the crypto industry. Pattera Dilokrungthirapop, who is a member of the board of directors of the Stock Exchange of Thailand, the exchange is getting ready to invade into the cryptocurrency market by presenting brokerage services for crypto trading. She also said they believe that cryptocurrencies will grow massively in the future as more and more investors gain an understanding about them. She added that securities firms are curiously waiting for the Stock Exchange of Thailand to apply for the digital license. Thailand: A cryptocurrency hub Thailand is steadily moving ahead in the crypto space with regulatory clarity unline other surrounding countries such as China and India who are moving away from crypto adoption. Thailand is all set to become a captivating place for cryptocurrency and blockchain businesses with the government of the country also promoting blockchain technology. Last year, Thailand also legalized some cryptos such as bitcoin, litecoin, ethereum and more while the securities and exchange commission of the country has also given clear regulations in relation to initial coin offerings. Around 2 weeks back, the Ministry of Thailand had also granted licensing to three new cryptocurrency exchanges to operate in the country, What are your thoughts on the future of cryptocurrencies in Thailand and how the Stock Exchange of Thailand moving towards cryptocurrencies will help the overall crypto industry? Tell us in the comments section below. Continue Reading #Bitcoin Trump Government Shutdown: Impact on Bitcoin ETF, Bakkt and Cryptos. Published 1 day ago on January 19, 2019 By Layla Harding The ongoing government shutdown is devastating for the crypto industry. Major functions of the government are simply not working right now. The SEC announced that it will be limiting its operations reducing its staff during the shutdown and restricting the functions to those that meet critical needs and unfortunately the Bitcoin ETF may not be a critical need to the SEC. The US CFTC is also doing limited staffing during the federal government shutdown. There is no time limit as to how long the government shutdown is going to go on but the longer it goes on, the longer will be the delays for these key items that the people have been waiting for. So the possibility of an extended government shutdown could definitely impact the cryptocurrency industry in the United States. Will the government shutdown impact BAKKT? Obviously, it impacts the launch of BAKKT, particularly their futures because the CFTC does not have the staff sitting around to regulate. In fact, BAKKT has announced that basically there is an indefinite delay at this point on the launch of their futures contract which is unfortunate but considering the dysfunction or the government shut down in America, it’s not really surprising. But in the background of all this, it’s not as though that the Intercontinental Exchange has just gone to sleep and forgotten about all of the things that they want to do. They have recently acquired an established futures broker hoping to strengthen their bitcoin offering. Impact on Bitcoin ETF This government shutdown could lead to one of the SEC’s longest shutdown in recent years. So maybe the Bitcoin ETF is going to remain at the table for a long time from now because we have to realize that when these organizations come back to work there is going to be a massive backlog which will depend upon how long the government shutdown goes on. The SEC and the CFTC both have issued orders freezing all pending administrative proceedings until further notice and this will not be changed until we see the federal government gets back to work. The fascinating thing here is that technically if the SEC fails to approve or disapprove the Bitcoin ETF by the deadline the ETF, in theory, shall be automatically approved but the reality is that probably won’t happen. The SEC will probably just put out a one page denial or a one page request for withdrawal or a one page delay notice or something like that so even though they are running with a low staff, they are probably just going to keep kicking the can down the road on all these things instead of just letting it happen but there is still a technical possibility of the Bitcoin ETF getting directly approved. Reg A+ Obviously, the Bitcoin ETF and the Bitcoin futures contracts by BAKKT gets a lot of attention but that’s not all that’s going on. There are about sixty different countries which have applied for Reg A+. Reg A+ is basically a mini IPO. SO this permits the eligible issues to offer securities to the general public and not just to accredited investors and some of these will definitely be cryptocurrency projects. But like everyone else, even these companies need to wait until the government shutdown is over. Is Bitcoin influenced by the government shutdown? Looking at Bitcoin, we can see that it is not super influenced by events like these. Although the Bitcoin ETF, Bitcoin Futures, BAKKT and all of these things get a lot of people excited but of course remember that we don’t need Wall Street. The SEC and CFTC are regulating for projects, especially for Wall Street. The IRS has had to send home 56% of its staff. This is an agency which is already dramatically underfunded and then to send home even more of their staff during tax season means that not a lot of audits are going to be happening and they are already struggling to adapt the new tax policies which were put in place recently. The State Level Innovation: While the Federal Government cannot regulate during the government shutdown, the State Governments are pushing ahead with very innovative legislation and playing with this technology and trying new things. For example, Vermont is putting insurance on the blockchain, Nevada has issued 1000 marriage certificates on the Ethereum blockchain, Wyoming is bringing land records to the blockchain, Bitpay is helping Ohio accept bitcoin for taxes, two Colorado senators have filled a bill to introduce a digital token act which would allow cryptocurrencies to bypass securities laws which if passed could turn Colorado to a leading legislation within the United States in terms of cryptocurrency regulations and lastly, New York has become the first state to create a cryptocurrency task force which will be studying the regulation use and definition of digital currency. Even though the Federal Government is having a dysfunction due to the government shutdown, there is still innovation happening. What are your thoughts on the government shutdown? Tell us in the comments section below. Credits to CryptoLark. You are doing a great job! Continue Reading #Blockchain 2019 Blockchain Adoption: The Next Cryptocurrency Price Catalyst Published 3 days ago on January 16, 2019 By Janet F. Sanchez Industries that we never thought would be disrupted, will be disrupted massively and the company executives know it and they want to be ahead of the curve and find ways to not be disrupted out of their business. Blockchain has got a lot of amazing applications and uses cases but at the same time blockchain will not solve all of the world’s problems. It can certainly go along way towards solving quite a few of them which is amazing as a tool. Let have a look at some of the recent survey statistics from a report from Deloitte related to blockchain technology: Around 95% of the companies surveyed say that their company plans to invest in blockchain technology in 2019. With 16% of the company executives surveyed said that they are planning on investing $10 million or more into blockchain technology in 2019. 84% believe that blockchain technology is broadly scalable and will eventually achieve mainstream adoption. 68% of the executives polled also believed that they will lose a competitive advantage if they don’t implement blockchain technology. 59% of people who were polled believe that blockchain will disrupt their industry. 39% of the people viewed blockchain as being overhyped. The executives who are most interested in blockchain technology by industry are Automotive industry: 73%, Oil and Gas industry: 72%, Live Sciences: 72% being the most bullish on blockchain technology. 84% of executives polled expect blockchain to provide more security than conventional IT systems. 32% of executives expect greater speed. 28% of executives are looking for new revenue models. Only 2% perceive no significant advantage of blockchain over existing systems. 42% of surveyed view blockchain as a critical strategic priority for their organization. According to 39% of people surveyed, regulatory issues present the greatest barrier to further investment in blockchain technology. 37% of executives are more concerned with the actual implementation of the technology. Citing things like lack of in-house understanding of how to implement blockchain technology. 45% of companies are considered to be likely to join a blockchain consortium with competitors while 29% are already a part of a blockchain consortium. 52% of companies are focused on permissioned blockchains. So we are going to see a lot of permissioned blockchains within companies so that’s not surprising but 44% are prioritizing public blockchains. There are going to be a lot of companies that don’t really do very much in terms of buying bitcoin or any other cryptocurrency but there are will be a lot of companies that will because the use case for public blockchain is very real and the use case for value transfer is very real and companies recognize that. Some of the biggest use cases that companies are looking at are supply chain, internet of things and digital identity. A lot of that has very strong value on public blockchains in particular. So public blockchains such as bitcoin will see a lot of use. If we assume that as surveyed, 44% of the world’s top 1000 businesses start using pubic blockchains such as bitcoin and ethereum on a regular basis. What do you think that is going to do for the price and adoption? The United States is lagging behind overall, especially behind the other nations, particularly which were polled: China, Canada, Germany. Going back to the regulatory concerns which are probably holding back a lot of American executives from getting more into blockchain technology particularly into public crypto assets such as bitcoin or ethereum. The report from Deloitte finishes up saying that blockchain is not ready for prime time yet, it is getting closer to its break out moment every day. The report states the momentum is shifting from a focus on learning and exploring the potential of the technology to identifying and building practical business applications. If we go back to when the internet started and invest in companies that became the big things, that’s what we have right now with cryptocurrencies. Though there will be companies that won’t need crypto assets themselves, they’ll be using blockchain technology but we are going to have a lot of companies which are going to be using these public blockchains for a wide range of use cases. This is going to be the new internet of value and the future of the web and cryptocurrencies are going to play a very strong part in that. The crypto markets are just these powder cakes ready to blow. We have institutional investors coming in, we have better infrastructure than we have ever had before for the crypto industry and businesses are using and investing in blockchain technology. Let us know your opinion on the Deloitte’s report in the comments section below. 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