The rundown: Bitcoin and all major currencies were down in the morning; Global fintech company BANKEX launches its own BANKEX Token Exchange; Cryptocurrency trading platform Coinsquare acquires cryptocurrency wallet BlockEQ; U.S. lawmakers introduce new bills to help prevent virtual currency price manipulation; and the Securities Commission Malaysia to regulate issuances of gital currencies and digital tokens via initial coin offerings.
Here is what is happening in the cryptocurrency market on Friday.
In the News
Global fintech company BANKEX has launched its own BANKEX Token Exchange which enables the trade of basic pairs of utility tokens as well as the trade of complex security tokens connected to real-world assets. The BANKEX Token Exchange will serve as a secondary market for security tokens and will support ERC-1400 and ST-20 token standards as well as ERC-888 security tokens from BANKEX that incorporate KYC verification methods.
Cryptocurrency trading platform Coinsquare has acquired BlockEQ, a cryptocurrency wallet on the Stellar network, for C$12 million to expand its cryptocurrency offerings. The two companies plan to launch a number of crypto assets together. In a press statement, Coinsquare said it will “leverage BlockEQ’s technology to help Coinsquare and its users connect further with the world of cryptocurrencies.”
Congressman Darren Soto (D-FL-09) and Ted Budd (R-NC-13) introduced two bills to help prevent virtual currency price manipulation and position the United States to be a leader in the cryptocurrency industry. The Virtual Currency Consumer Protection Act of 2018 and the U.S. Virtual Currency Market and Regulatory Competitiveness Act of 2018 will analyze what can be done to protect consumers from price manipulation and to ensure America remains a global leader in fostering innovation in this evolving global marketplace, according to a joint statement released by Soto and Budd.
The Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM) have issued a joint statement to clarify the regulatory approach for the offering and trading of digital currencies and digital tokens in Malaysia. The SC says it will regulate issuances of digital assets via initial coin offerings and the trading of digital assets at digital asset exchanges in Malaysia. “Regulations are currently being put in place to bring digital assets within the remit of securities laws to promote fair and orderly trading and ensure investor protection,” according to the statement.
Cryptocurrency Prices Today (As of 08:25 AM EST)
Bitcoin (BTC) is down 1.94% over the past 24 hours, trading at $3,523.35.
Ethereum (ETH) is trading at $91.66 in the morning, down 2.92% over a 24-hour period.
Bitcoin Cash (BCH) is trading at $103, down 3.7% over the past 24 hours.
Ripple (XRP) is trading at $0.306, down 2,42% over a 24-hour period.
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