The price of Bitcoin (BTC) was up in the morning; venture capital firm Andreessen Horowitz has launched a $300-million cryptocurrency fund; Robinhood is planning to launch its own cryptocurrency wallet; Bitcoin is gaining popularity in Europe,; the Central Bank of the Bahamas to launch its own cryptocurrency; and India is expected to finalize crypto regulations next month.
Here is what is happening in the cryptocurrency market on Tuesday.
In the News
Venture capital firm Andreessen Horowitz, known as a16z, has launched a $300-million cryptocurrency fund. In a blog post, the firm said: “We’ve been investing in crypto assets for 5+ years. We’ve never sold any of those investments, and don’t plan to any time soon. We structured the a16z crypto fund to be able to hold investments for 10+ years.”
Robinhood, which operates a commission-free trading app, is reportedly planning to launch its own cryptocurrency wallet. CCN reported that the wallet would allow the company’s customers to move their crypto assets from other platforms without selling them first.
The popularity of Bitcoin is growing in Europe, according to a report from Dutch banking giant ING. The consumer economic report from the bank reveals that fewer than one in 10 Europeans currently own cryptocurrency, while 16% of people expect to own them in the future, The Independent reported. The survey involved nearly 15,000 people across 13 countries.
PayCoiner has introduced a cryptocurrency payment gateway platform. The SaaS platform, which is available at PayCoiner.com, is designed to allow businesses to accept cryptocurrencies for products and services. The process is “risk-free, completely secure with provable results” the company notes on its website.
Philippines is going to limit the number of cryptocurrency exchanges operating within the Cagayan Economic Zone Authority (CEZA), according to CEZA boss Atty. Raul Lambino. In an interview at the Global Blockchain Summit in Pasay City in the Philippines, Lambino revealed that his office is reviewing 60 applications from companies looking to build cryptocurrency exchanges in the zone.
The Central Bank of the Bahamas is planning to launch its own cryptocurrency to further facilitate the process of doing business in the country consisting of more than 700 islands. Kevin Peter Turnquest, deputy prime minister and minister of finance of the Bahamas, revealed the plan at the recently-held The Bahamas Blockchain and Cryptocurrency Conference.
Zebpay, one of India’s biggest crypto exchanges, is warning its customers that their fiat rupee withdrawals could be affected by the Reserve Bank of India’s recent ban. On April 5, the India’s central bank directed all financial institutions to stop providing services to companies involved in the cryptocurrency business.
Crypto in India isn’t over, according to a report from News.Bitcoin. The report states that a high-ranking official in India said that authorities plan to finalize crypto regulations as early as the first half of next month. Meanwhile, the Indian Supreme Court has agreed to review a petition against the RBI ban in a hearing set for July 3.
Cryptocurrency exchange BTCC has decided to sell a 49% stake in its mining pool business BTCC Pool Limited to Value Convergence Holdings Limited, an asset management and financial firm in Hong Kong. If the deal is finalized, BTCC will receive HK$147,000,000 (or about $18.73 million) for the sale of its stake in BTCC Pool Limited.
Cryptocurrency Prices Today
Bitcoin (BTC) gained 1.64% over the past 24 hours, trading at $6,227.42 in the morning.
Ethereum (ETH) is trading at $449.84, down 1.27% over a 24 hour period.
EOS moved up 0.88% over the past 24 hours, now trading at $8.03.
Ripple (XRP) is trading at $0.4783, up 0.53% over a 24 hour period.
Litecoin (LTC) is trading at $80.87, up 0.37% over a 24-hour period.
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