Key Facts Of The Day 24.10.2018

Japanese Crypto Industry Moves to Self-Regulation

The Financial Services Agency (FSA) of Japan, the main financial regulator in the country, granted the crypto industry the status of self-regulating, allowing the Japan Virtual Currency Exchange Association (JVCEA) to control the exchanges’ activities.

The local regulator granted the association the status of a “certified fund settlement business association.” Thus, JVCEA was authorized to develop regulations for the local cryptocurrency industry, including measures to prevent insider trading, money laundering, and asset protection. Representatives of JVCEA said that the rules developed by them come into force on October 24.

Coinbase Enters Custodial Services Market

Coinbase, the leading U.S. crypto exchange, received permission to provide custody services from New York financial regulator. Coinbase Custody will operate as a Limited Purpose Trust Company chartered by the New York Department of Financial Services (NYDFS), says in the announcement. The company will be engaged in the qualified storage of bitcoin, ethereum, XRP, litecoin, bitcoin cash and ethereum classic.

Asiff Hirji, President and Chief Operating Officer of Coinbase, said that the new Coinbase division had the same requirements as the already established financial institutions in the state of New York.

Crypto Depression Prompts Discounts On Blockchain Startups

This year’s Bitcoin 54% price slump has opened the record high in call/demand for the companies involved in the blockchain. The amount of merger and acquisition (M&A) deals signed in 2018 spiked 200 percent, PitchBook report compiled by JMP Securities says.

As of Monday, the number of such deals conducted this year amounted to 115 and is expected to reach 145 before 2019 starts. Just to compare, last year only 45 deals were signed, and back then the price of the first crypto was trading around $20,000 per bitcoin.

What Else:

According to the data of Pew survey, nearly half of Facebook users of ages from 18 to 29 have deleted the social network’s mobile application from their phone in the last year following series of Facebook-related scandals.

According to the report of local media The Times of India, Indian police force has raided an ATM operated by local cryptocurrency exchange Unocoin that was established one week ago.

According to the recent tweet of Elon Musk, the platform temporarily locked his account after Space X and Tesla founder posted a tweet asking followers whether they would like to buy bitcoin.

According to the public statement that was made on Money 20/20 conference in Las Vegas, Novatti Group, an Australian online payments processor, will issue the Novatti AUD Utility Token that will be tied to Australian dollars (AUD).

According to the press release of People’s Daily Online, The venture capital subsidiary of the official newspaper of the Communist Party of China (CCP) entered into the partnership in order to create blockchain laboratory.

At 19:00 (GMT+1) total cryptocurrency market capitalization stands at $210.6 billion

Stratis (+18.54%) showed the best growth in the top-100

Market Dynamics

The trading volume of cryptocurrencies for 24 hours reached $9.66 billion (-0.64 billion per day)

Mining Profitability