Cryptocurrency Daily Roundup – Nov.28
A summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.
Bitcoin Moves 6 Steps Up In China’s Revised Crypto Ranking
Bitcoin (BTC) significantly improved its position when the Chinese government revised its official cryptocurrency rankings. The virtual currency, which had dropped to 19th place in October, jumped to No.13 this month. However, it is still three ranks below its best position of making it to the top 10 for the first time in August. Chinese altcoin EOS tops the seventh monthly Global Public Chain Technology Evaluation Index, which consists of 33 crypto projects.
SEC Chairman Wants To See Upgrades In Crypco Markets For Bitcoin ETF Nod
Securities and Exchange Commission Chairman Jay Clayton said he wants to see key upgrades in the cryptocurrency markets before being comfortable approving any bitcoin exchange-traded fund, or ETF. According to him, bitcoin’s price may not be fairly accessed as most cryptocurrency exchanges don’t use the same monitoring tools as stock exchanges. Currently, safeguards do not exist in all cryptocurrency exchanges, he added.
Blockchain Could Add $3 Tln In Global Trade By 2030: WTO Report
Blockchain’s global, large-scale economic value-add could reach almost $3 trillion by 2030, according to a report by The World Trade Organization or WTO. The new WTO publication, entitled “Can Blockchain revolutionize international trade?”, analyzes the potential impact of Blockchain on international trade amid growing interest and debate on the new technology. According to the World Economic Forum, the removal of barriers due to Blockchain could result in more than $1 trillion of new trade in the next decade.
Nasdaq May Launch Futures For Bitcoin Next Year
Amidst the current decline in Bitcoin price, Nasdaq Inc. is moving ahead with plans to launch Futures contracts based on the popular cryptocurrency, Bloomberg reported quoting sources. The New York stock exchange operator may allow trading on cryptocurrency in the first quarter of 2019. This move is a boost to the struggling cryptocurrency, which remained below the $4,000 barrier against the US Dollar.
U.S. Fintec Firms Together To Create Code Of Conduct For Digital Asset Markets
Ten of the leading financial services and technology firms in the U.S. formed a group dubbed “Association for Digital Asset Markets” (ADAM) to create a Code of Conduct for the emerging digital asset markets. ADAM will work in partnership with leading financial firms, experts, current and former regulators to devise the code of conduct to build a safer, stronger, and more efficient digital assets marketplace. ADAM is perhaps the first of its kind in the U.S. to proactively seek comprehensive standards for digital asset market participants.
Crypto Exchange OKEx To Delist another 49 Trading Pairs
Hong Kong-based cryptocurrency exchange OKEx is planning to delist another 49 trading pairs on November 30 due to weak liquidity and trading volume of the pairs. This follows the first batch of delisting of 58 trading pairs a month ago as part of its continuing implementation of the delisting / hiding mechanism for substandard projects.
As of this writing, Bitcoin is recovering from its slump and crossed $4000 mark. The popular digital currency is gaining 12.62 percent or $467.27 at $$4198.65. Ethereum is also rising 13.55 percent or $14.16 to trade at $118.23 on Coinbase.
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