Blockchain Market Update – November 27, 2018

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November 27, 2018 by
Blockchain Market Update – November 27, 2018

U.K.: Financial Conduct Authority says it is currently eyeing 50 crypto-related entities which it suspected of offering financial services without its permission. The number is more than twice the FCA reported in May this year—Regulation

Thailand: Thai Revenue Department asked the cabinet to vote on amendment to the new revenue code which would include a 10% capital gains tax on profits from trading in crypto. The new decree will classify crypto as digital assets, not currency, meaning that the Thai SEC will regulate all aspects of virtual coins—Regulation

MalaysiaFinance Minister Lim Guan Eng notes that anyone who wishes to introduce a new cryptocurrency must go through Bank Negara, as they will have the final say—Regulation

Bitfinex: Triples minimum fee for wire withdrawals from $20 to $60. Changes like this usually come with notice to users, but company remained silent on the change. Likely an effort to reduce the issues with withdrawals that the platform had been facing, but the move makes them one of the most expensive exchanges to withdraw from—Exchange

China: Genesis Block trader reports that China’s crackdown on industry has been overstated and “very shallow.” While China’s move to ban crypto-related social media channels and physical events may seem harsh, China remains one of the most liquid OTC-based crypto markets—Trading

Paraguay: Government of Paraguay and the Blockchain Technology Foundation “Commons Foundation” recently signed an agreement that will serve as a basis for the construction of the world’s largest mining farm in a concerted effort to position the country as a reference in terms of technological innovation. Project known as the “Golden Goose Project” will be implemented in Ciudad del Este—Regulation

Securitize: Raised nearly $13M in Series A funding round as part of its mission to digitize traditional securities products on blockchain. Blockchain Capital co-founder and managing partner Brad Stephens will join Securitize’s board of directors. Coinbase Ventures, Ripple’s Xpring, OKEx’s OK Blockchain Capital, Global Brain and NXTP also participated—Project Development

Diar: Data sampled across 8 leading exchanges reveals 60% of cryptocurrencies listed around Jan. 2018 are trading at lower volumes to date. Over 20% of these have experienced a huge drop, seeing less than 90% of the trading volumes compared to bull run this January—Trading

“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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