News Dec 21, 2018

The most important news of the cryptoindustry

CoinBase and PayPal

As part of “12 days of Coinbase” campaign, Coinbase the crypto trading platform has informed about the new opportunity for its US customers. Besides the traditional withdraw methods – ACH and Federal Wire, customers will be able to instantly withdraw their funds to PayPal with no fees attached. With this new option, US customers can benefit from faster withdrawal, compared with traditional methods which took up to two business days to process funds.



SEC postpones BTC-ETF Decision

The United States Securities and Exchange Commission (SEC) decided to postpone the launch of the BTC-ETF. SEC highlights the need for further review of the application to list the BTC-ETF, mentioning February 27, 2019, as a next deadline. According to the proposals made by VanEck and blockchain company SolidX, BTC-ETF is supposed to be listed on the Chicago Board Options Exchange (CBOE). The maximum term of consideration of such applications, required by law is 240 days, so the latest date, the proposed change should be examined isFebruary 27, 2019.



Swiss Federal Council concluded the report on the legal framework

The Federal Council of Switzerland has accepted a report, conducted by the blockchain working group. One of the report’s statement concludes that the regulation of blockchain doesn’t require any fundamental changes in the legislation of Switzerland. According to Switzerland’s governing body, only selected law branches – including banking law, civil law, insolvency law, and anti-money laundering law need to be changed.

Therefore, Switzerland aims to take leadership positions as the most sustainable location for blockchain companies.


Competition after BitcoinCash separation

One month ago, after the hardfork, BitcoinCash blockchain split into two distinct networks – BCHABC and BCHSV. Several weeks have passed since the separation, and there is still no obvious leader position in hashrate. Right after the split, BCHABC held leadership positions, but after some time the difference in price highly diminished.



Mike Novogratz does not believe Bitcoin can slump again

According to Mike Novogratz, the founder of crypto merchant bank Galaxy Digital, the Bitcoin (BTC) price is not going to decrease further. It was mentioned during the interview on December 18. Novogratz anticipates BTC will be traded in the flat of $3000-$6000 in the nearest future. Talking about the future of the market, he believes that Bitcoin will be the leading digital storage tool in web 3.0.





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