Blockchain Market Update – January 21, 2019

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January 21, 2019 by
Blockchain Market Update – January 21, 2019

Tencent: Chinese tech conglomerate is actively pursuing co-investors to purchase South Korea-based NXC Corp, as Kim Jung-ju reportedly wants to sell a 98.64% share in NXC Corp, estimated to be worth $7.1- 8.9B. Although known for gaming firms, NXC also owns multiple crypto exchanges, and holds majority stakes in Korbit and Bitstamp—Other

Ethereum: Second coming of Ethereum Constantinople hard fork is set to occur on Feb. 27, according to Péter Szilágyi—Project Development

Wyoming: Introduces bill that aims to define cryptocurrency and other digital assets to give clarity to how they should be regulated. If passed, bill would define virtual currencies the same as money, which would see them protected under identical rules to USD. Bill seeks to place all digital assets into one of three categories: digital consumer asset, digital security and virtual currency—Regulation

Go-JekAfter unsuccessful attempt to enter Philippine market earlier this month due to foreign ownership concerns, major Indonesian ride-sharing platform acquires majority stake in, a local crypto wallet and payments platform. The Filipino firm is currently in the process of rolling out beta access to users in the waiting list for Coins Pro, its in-development cryptocurrency exchange—Project Development

tZEROSecurity trading platform is slated to go live by end of next week, according to CEO Patrick Byrne. Supposed to go live on Jan. 18, but waited a few more days to process user sign-ups and turn on trading system at a later date—Project Development

SingaporeSingapore Payment Services Act was passed by gov’t and will directly affect crypto exchanges, wallets, and OTC platforms, placing them under oversight of Monetary Authority of Singapore. It will also impose limits on how much digital assets can be held in personal mobile wallets and how much can be transferred to accounts other than user’s designated bank accounts in a year, among other things—Regulation

Japan: Financial Services Agency approved Crypto Garage’s application for their platform to be included in Japan’s regulatory sandbox. The project is scheduled to conduct tests from Jan. 21, 2019 to Jan. 20, 2020. Project adopts Atomic Swap technology to implement simultaneous settlement of crypto and fiat, aiming to establish platform that eliminates credit risk of both parties—Project Development

ChileTo start taxing cryptos in April 2019 when taxpayers pay yearly income taxes,  but yet unclear at what rate. Local media reports country’s revenue authority has included crypto assets in Annual Income Tax Returns form, which will be declared “other own income and third-party income from companies that declare effective income”—Regulation

ICO MarketICOs completed in the first half of Jan. have raised around $160M, according ICO rating service ICObench. ICOs completed by Jan. 15 have raised about 33% of combined amount raised in December. Half of that sum was secured by just one project, the report notes—Other

“B2B reporter – Content Manager – Contributor – Fintech – Blockchain – Cryptocurrency”

Simon Chou is a B2B reporter and content manager specializing in technology and finance. He has worked with many clients in the fintech and blockchain space. He holds investment positions in bitcoin and other large-cap cryptocurrencies, and has been reporting on cryptocurrency since 2017. Currently, Simon is the content manager for a major cryptocurrency exchange @HybridBlockHQ.

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