Blockchain Market Update – October 25, 2018

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October 25, 2018 by
Blockchain Market Update – October 25, 2018

Japan: The Financial Services Agency (FSA) approved the Japan Virtual Currency Exchange Association (JVCEA), a body comprised of all 16 licensed domestic crypto exchanges, to become a ‘certified fund settlement business association.’ This means that the FSA has formally granted the crypto industry with a self-regulatory status—Regulation

Forbes: Institutional investors are choosing OTC markets over standard exchanges to enter the crypto space to avoid crypto exchange limits. Coinbase, for instance, allows traders to purchase only $25K worth of crypto every day, despite being one of the world’s leading crypto exchanges. Hence, in a report authored by Monica Summerville, director of fintech research at U.K.-based Tabb Group, the OTC market volume had crossed $12B globally since April 2018.—Financial Institution

South Korea: The Financial Services Commission and the Financial Supervisory Service recently called on investors to pay special attention to fact that there is a violation of the capital market laws on products called “virtual currency funds.” The two financial regulators said in a report that “the financial authorities will discuss further measures on virtual currency funds in consultation with related institutions to minimize the risk of investors”—Regulation

Binance: Launched the first crypto-fiat exchange in Uganda. Users can now buy BTC and ETH using local fiat currency Ugandan Shillings (UGX). Their announcement also included a recent donation of $500K for Uganda through Blockchain Charity Foundation, noting that the launch of the crypto-fiat exchange is Binance’s intention to contribute to blockchain development in the country—Exchange

Tether: Over the past week, Tether has redeemed a significant amount of USDT from the circulating supply, and will destroy 500M USDT from the Tether treasury wallet. They will leave the remaining USDT (around 466M USDT) in the wallet as preparatory measures for future USDT issuances—Other

Ukraine: A draft bill introducing tax breaks for entrepreneurs and companies dealing with crypto has been filed in Ukraine’s parliament. If passed, the bill would result in amendments in the Ukrainian tax code, providing tax breaks on income earned from all crypto transactions. Both corporate entities and private individuals dealing in crypto will benefit from the tax moratorium until Dec. 31, 2029—Regulation

India: Central Crime Branch (CCB) officials raided India’s first crypto ATM kiosk that opened last week. The police said that the kiosk set up by Unocoin Technologies Private Limited was installed and operating without any license. Unocoin aims to apply crypto ATMs and stablecoins to skirt the ban imposed by the central bank—Regulation

Cardano: Will receive support from the Trezor Hardware wallet, with the support slated to commence sometime late in October—Project Development

SETL: The U.K.-based settlement infrastructure provider has been granted a license from France’s securities regulator to operate a central securities depository system using blockchain tech. With license, the company will be able to plug into TARGET2-Securities (T2S), a pan-European system recently set up to unite the previously fragmented European securities settlement infrastructure—Project Development

IDEX: Plans to start blocking traders who reside in the state of New York. Their move is seen as worrying, as decentralized exchanges are traditionally held up as impervious to stipulations of global policies, let alone local—Other

Dapp Review: Up to Oct. 23rd, there are 111 and 839 dApps on the EOS and Ethereum blockchain respectively. Still, the number 1 EOS dApp, BetDice, records a daily-average-user of 35,133, almost 20 times that of Ethereum’s number 1 dApp, IDEX, which records 1,799—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.

Name Price
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Ethereum (ETH)
Bitcoin Cash (BCH)
Litecoin (LTC)
Cardano (ADA)
Dash (DASH)
Monero (XMR)
Stellar (XLM)
Bitcoin Gold (BTG)
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