First Results of Operation Cryptosweep
The North American Securities Administrators Association (NASAA) reported that U.S. and Canadian financial regulators have initiated more than 200 investigations into ICO and crypto investment products in the framework of the ‘Operation Cryptosweep’ launched in May. During this time, 47 cases of coercive measures have already been recorded.
Watchdogs face a lot of violations of the law in this area, including improper registration of products before they are offered to users. NASAA stresses that even products that have been registered can be fraudulent, so investors should carefully study them before investing.
WHY IS IT IMPORTANT?
- U.S. and Canada launched ‘Operation Cryptosweep’ to combat fraudulent crypto investment schemes. Members of more than 70 administrative-territorial units of North America take part in the operation.
- Regulators of both countries are working together to identify scam projects among crypto startups. According to the regulators, scammers come up with dozens of projects to deceive investors who hope to get big profits from ICO and other investments in cryptocurrencies.
- Representatives of regulators emphasize that not all investments related to ICO or cryptocurrency are fraudulent, but they urge investors to look closely at any project.
Meanwhile, three crypto firms in Colorado are suspected of fraud. American watchdogs launched an investigation against suspicious ICO projects, which offer their clients to invest money in tokens. The investigation is carried out by the Division of Securities of the Colorado Department of Regulatory Agencies (DORA) and of the state’s ICO task force. If the regulators prove that they engage in placing fake tokens, then the authorities will be able to achieve termination of these enterprises in the state through court.
Does it Cost $152 to Mine One Ethereum?
The production of one Ethereum coin currently costs $152. This was announced by the CEO of the Atlantic Crypto mining company Brian Ventura in his report.
If you take the average cost of electricity in the U.S. 12 cents/kWh, then the current power required for the production of one ETH is 1.2 MWh and it will cost 152 dollars, writes Brian Venturo.
At the time of the calculation, the price of one ETH coin was $275. Now with the price of one Ethereum (ETH/USD) coin trading at $295, this is slightly less than half of the current cost of the second crypto.
WHY IS IT IMPORTANT?
- There are huge differences between electricity prices in different regions of the United States. For example, for Idaho, North Dakota and Washington, the average cost for residential houses is only 8 cents, there the mining of one Ethereum cryptocurrency will cost $100. In some areas, where electricity costs 4 cents, one ETH coin will cost $50.
- The Ethereum community is now actively discussing the possibility of reducing the fee for the block in EIP 1234.
- At the moment, approximately 66% of the Ethereum holders are inclined to reduce the fee to one ETH per block. Another 33% agree to reduce it to two ETH per block. At the same time, almost no one wants to leave the current award with three ETH per block.
Hong Kong Accepts Blockchain Immigrants
Hong Kong seeks to attract talents from around the world in the field of blockchain and other innovative technologies through a special immigration policy.
The Hong Kong government has created a list of 11 professions that can receive privileges when applying for the Quality Migrant Admission Scheme (QMAS). Experts in the field of innovation and technology will have a much greater chance of successfully passing the procedure.
WHY IS IT IMPORTANT?
- The QMAS program was launched in 2006. It allows applicants to enter and settle in a special administrative district of China without a prior invitation to work from a local employer.
- Blockchain-specialists who want to receive preferences when obtaining a visa must have a bachelor's degree or higher. They should also have experience working in well-known companies and knowledge of how to apply technology in financial services.
U.S. Students Want to Study Blockchain
According to a study conducted by the crypto exchange Coinbase, more than 40% of the top 50 universities in the world have at least one course related to cryptocurrencies or blockchain. Students show a great interest in these courses.
WHY IS IT IMPORTANT?
- Representatives of universities in which blockchain courses have appeared are confident that distributed ledger technology can lead to fundamental breakthroughs in many research areas. Blockchain may have really large-scale and deep-reaching consequences for industry and society as a whole.
- The high demand for crypto courses has been manifested by a wide range of students. Representatives of universities believe that this indicates that students really think deeply about economic problems and alternative economic futures.
North Korea Joins Crypto World
North Korea began to show interest in blockchain technology and is even planning to create its own crypto exchange. A North Korean IT company, Chosun Expo, was granted a government permission to develop an exchange platform. The state is interested in researching cryptocurrency since it can be anonymous, hard-to-trace and easily convertible into cash.
WHY IS IT IMPORTANT?
- At the moment North Korea has no developed blockchain infrastructure, high-performance computers and a high-speed Internet channel. Therefore, the development of the crypto sector in this country, presumably, will go slowly.
- KDB reports that the average North Korean citizen has scant ideas about cryptocurrencies. Referring to recent interviews with refugees from North Korea, the bank claims that nothing has been heard about the cryptocurrencies in the North Korea.
- North Korea is also planning to have its first blockchain already this October. Anyone interested can participate by buying a tourist tour. It includes visiting North Korean landmarks in addition to a pass to the event itself.
At 18:40 (GMT+1) total cryptocurrency market capitalization stands at $228,9 billion
Bitcoin (EXANTE: Bitcoin) $7014 (-0,41%)
Ethereum (ETH/USD) $289 (+0,15%)
XRP (XRP/USD) $0,34 (-0,07%)
Bitcoin Cash (EXANTE: Bitcoin.Cash) $554 (+0,58%)
EOS (EOS/USD) $6,09 (+11,7%)
Noah Coin (+87,88%) showed the best growth in the top-100
Market Dynamics
The trading volume of cryptocurrencies for 24 hours reached $13,8 (-0,7 billion per day)
Mining Profitability
BTC $2,6 for 10 TH/s
ETH $0,21 for 10 MH/s
BCH $0,27 for 1 TH/s
LTC $3,61 for 1 GH/s
DASH $0,10 for 1 GH/s
Ongoing ICOs:
Expected ICOs:
- 31 August BetOnChart
- 5 September Cryptocean
- 8 September AEN Token
- 15 September COTI
- 15 September GOODWORK
Click here for the full list of ongoing ICOs.
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