Cryptocurrency Daily Roundup – April 4
Here is a summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.
Crypto Mining Firm Riot Blockchain Posts Wider Loss In FY18
Cryptocurrency mining firm Riot Blockchain, which was previously a biotech firm, reported a wider loss in its fiscal year 2018, mainly reflecting higher impairments of digital currency mining equipment. Revenues, however, surged significantly with digital currency mining. The company reported full-year net loss attributable of $58.01 million, compared to prior year’s loss of $19.85 million. Net loss per share was $4.33, wider than prior year’s loss of $3.30.
SEC Issues No-Action Letter To TurnKey Jet Allowing Token Sale
The United States Securities and Exchange Commission issued a no-action letter to TurnKey Jet Inc. This allows the firm to issue digital tokens to its members, who can then use the tokens to charter a private jet. According to Forbes, the SEC’s letter is the first ever no-action letter sent to a cryptocurrency business. Turnkey Jet or TKJ is the turn key business aircraft solution, providing an all inclusive short term lease that includes aircraft crew maintenance and insurance, with low initial capital requirements.
EU Launches International Association Of Trusted Blockchain Applications
The European Union announced the launch of the International Association of Trusted Blockchain Applications (INATBA) to foster the development and global adoption of blockchain and Distributed Ledger Technology (DLT) by developing a regulatory framework. The launch took place at the European Commission in Brussels, Belgium on Tuesday, with more than 100 founding members, including major DLT and blockchain providers, large-scale users, start-ups, and business and sectoral associations.
UN Agency ICAO Exploring Use Of Blockchain In Aviation System
The Council President of the International Civil Aviation Organization (ICAO) said application of blockchain technology can be envisioned for almost all areas of the aviation system, particularly benefiting the civil aviation customers and operators. Dr. Olumuyiwa Benard Aliu noted that the technology could be of tremendous benefit to reduce the pressure on current human resources, with traffic growing at its exponential rate to create new challenges and risks to the growing number of logistical, administrative and oversight activities.
As of this writing, Bitcoin is down by 0.84 percent or $42.27 to $4975.81 on Coinbase. Ethereum is 5.71 percent or $9.70 lower at $160.08.
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