The rundown: Bitcoin and all major cryptocurrencies were up this morning; BTCC, a Hong Kong exchange, is re-launching its crypto exchange platform; Thailand’s Association of Securities Companies is considering launching a new cryptocurrency exchange; the Polish Bitcoin Association is challenging banks over crypto account refusals; the Philippines is set to issue 25 licenses for cryptocurrency exchanges; there’s no interim relief for cryptocurrency exchanges against the Reserve Bank of India’s banking ban from the Indian Supreme Court.
Here is what is happening in the cryptocurrency market on Tuesday.
In the News
BTCC, a Hong Kong-based cryptocurrency exchange, announced the re-launch of its crypto exchange platform. The exchange is planning to launch its own token in the future. According to a statement from BTCC, the company has revamped its crypto exchange to offer new features including new trading pairs, faster deposits and withdrawals, and a new rewards point system.
Thailand’s Association of Securities Companies is reportedly planning to launch a new cryptocurrency exchange. The association, which represents securities firms in Thailand, is studying the possibility for a joint cryptocurrency exchange between securities firms, the Bangkok Post reported.
In Poland, the Polish Bitcoin Association has claimed that at least 15 banks denied services to companies that were associated with cryptocurrencies. The association has requested the Office of Competition and Consumer Protection to investigate the alleged restriction of competition.
The Cagayan Economic Zone Authority in the Philippines plans to issue 25 licenses for cryptocurrency exchanges. Each exchange will only have sub-licenses for as many as 20 to 30 traders or brokers, the authority said in a statement. Each of the exchanges will be required to initially invest $1 million within two years.
A new research study released by the Ontario Securities Commission revealed that many Ontarians lack understanding of crypto assets. The study also found that an increasing number of Ontarians are being approached about participating in initial coin or token offerings, exposing them to potential risks given the lack of familiarity with these types of investments. Further, the study, Taking Caution: Financial Consumers and the Cryptoasset Sector, found that 5% of Ontarians surveyed own crypto assets. It also revealed that men aged 18-34 are more likely to invest in crypto than any other demographic group.
India’s Supreme Court has refused to grant any interim relief to cryptocurrency exchanges against the Reserve Bank of India’s (RBI) ban on banking services to crypto businesses, according to a report by QZ. On April 5, the RBI had directed all banks to stop offering services within three months to companies dealing with digital currencies. The Narendra Modi government is in the final stages of finalizing the draft cryptocurrency regulation.
Cryptocurrency Prices Today
Bitcoin (BTC) is up 4.88% over the past 24 hours, trading at $6,634.07 at the time of writing this article.
Ethereum (ETH) is trading at $477.81, up 6.55% over a 24 hour period.
EOS spiked 15.31% over the past 24 hours, now trading at $9.19.
Ripple (XRP) is trading at $0.5050, up 10.72% over a 24 hour period.
Litecoin (LTC) is trading at $87.72, up 10.58% over a 24-hour period.
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