Crypto Weekly – March 22
Here is a summary of select stories from the cryptocurrency and blockchain world during this week.
160 New Bitcoin ATMs Opened In February: Report
160 new Bitcoin ATM machines (BATM) were installed across the world last month, according to Coinatmradar.com. With 64 machines closing in the same period, a total of 4387 BATMS are currently operational. In February, General Bytes and Genesis Coin installed the most machines, 49 and 20 respectively.
Swiss Federal Assembly Approves Motion On Cryptocurrency Regulation
Switzerland Parliament’s legislative body, The Swiss Federal Assembly, approved a motion instructing the Federal Council to adapt the existing laws to regulate cryptocurrencies. Liberal assemblyman Giovanni Merlini introduced the motion, which was approved with 99 to 83 votes in favor and 10 abstentions. Merlini intends to instruct the Council to adapt the provisions on procedural instruments of the judicial and administrative authorities. With this, they can also be applied to cryptocurrencies.
Australia unveils national blockchain strategy, A$100,000 funding
The Australian Government unveiled its national blockchain strategy and road map as well as a A$100,000 in funding from the government, led by the 30th Prime Minister of Australia, Scott Morrison. The blockchain road map includes regulation, skills and capacity building, innovation, investment, and international competitiveness and collaboration.
Canadian Regulators Seek Framework For Cryptocurrency Exchanges
Canadian securities regulators are seeking to prepare regulatory framework for crypto-asset trading platforms in the country. The move reportedly follows the financial and legal troubles with Canadian crypto exchange QuadrigaCX following the unexpected death of its founder and CEO Gerald cotton.
SEC to hold public Fintech Forum on Blockchain, Digital Assets in May
The United States Securities and Exchange Commission or SEC announced that its staff will host a public forum on distributed ledger technology and digital assets on May 31. The forum will be organized by the agency’s Strategic Hub for Innovation and Financial Technology or FinHub, for active engagement with market participants on new financial technologies.
QuadrigaCX Co-Founder Michael Patryn Reportedly Holds Criminal Past
Michael Patryn, who co-founded Canadian crypto exchange QuadrigaCX along with the deceased CEO Gerald Cotten, was involved earlier in criminal activities in the United States with a different name, Bloomberg reported. The surviving founder of the troubled crypto exchange was earlier known as Omar Dhanani, who was sentenced for 18 months in U.S. federal prison for identity theft related to a bank-and-credit card scam, the report says. He was later deported to Canada, where he reinvented himself as a Bitcoin entrepreneur.
Coinbase adds XLM On Its Trading Platform
Crypto currency exchange Coinbase added Stellar’s cryptocurrency, the Stellar Lumen (XLM) to its retail platforms. It aims to connect banks, payment systems and individuals quickly and reliably. XLM will not initially be available for residents of the United Kingdom and New York.
Colorado lawmakers seek to use blockchain in Agriculture
Lawmakers from Colorado have introduced a bill that calls for conducting a study on the potential applications for blockchain technology in agricultural operations in the state. The bipartisan house bill 19-1247 titled “Study Agricultural Applications For Blockchain” was jointly introduced by representatives Donald Valdez and Marc Catlin as well as senators Kerry Donovan and Don Coram.
CoinMarketCap Launches Two Crypto Benchmark Indices
CoinMarketCap announced the launch of two comprehensive cryptocurrency benchmark indices on Nasdaq GIDS, Bloomberg Terminals, Thomson Reuters Eikon (Refinitiv), and Börse Stuttgart. The indices will help users to quickly reference and track the general performance of the cryptocurrency market, it said. In addition, these indices will be prominently displayed on the CoinMarketCap website, which is considered the most-trafficked site in the cryptocurrency space.
SEC’s Review Of VanEck/SolidX Bitcoin ETF Attracts Mostly Negative Comments
The U. S. Securities and Exchange Commission’s notice of the filing of proposed rule change to list and trade VanEck/SolidX Bitcoin exchange-traded fund or ETF has attracted mostly negative comments. On the SEC website’s comments section, seven people responded so far, in which six strongly urge the SEC to reject the VanEck/SolidX bitcoin ETF proposal. The comments were filed between February 13 and March 12.
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