Crypto Weekly – Jan.11

Here is a collection of the popular stories from the cryptocurrency and blockchain space this week.

Bitcoin ATM Global Numbers Cross 4000; More Than Half In US

The number of Bitcoin ATM machines (BATM) installed across the world crossed the 4,000 threshold, according to Bitcoin ATMs are installed in 75 countries in the world. Two-thirds of them are concentrated in North America. Out of a total of 4,159 BATMs worldwide, 2493 – or 55.9 percent – are in the United States, and 613 in Canada. California has the most number of BATMs in the United States, 475, followed by Illinois with 252 BATMs.

Cryptocurrency prices were highly correlated in 2018: study

A new report released by “The Block,” based on recent research, says 10 of the top 15 crypto assets by market cap show a price correlation of more than 64 percent. They are Bitcoin Cash (BCH), Bitcoin Core (BTC), Ethereum (ETH), Ripple (XRP), EOS, Stellar (XLM), Litecoin (LTC), Cardano (ADA), Iota (MIOTA), and Monero (XMR). The two largest cryptocurrencies, Bitcoin and Ethereum, correlate the most with the other analyzed cryptocurrencies.

U.S. Dept. Of Energy Grants $4.8 Mln Fund For Tech Research Incl. Blockchain

The United States Department of Energy or DOE announced up to $4.8 million in funding for university research of technologies including blockchain. The DOE Office of Fossil Energy’s federal funding is for research and development or R&D projects, part of Fossil Energy’s University Training and Research initiative. It aims to develop the next generation of science and engineering professionals in the fossil energy sector.

Venezuela Crypto Operators Required To Pay Taxes In Cryptocurrency

Digital currency operators in Venezuela will be required to pay their taxes in cryptocurrencies, according to a decree the Venezuelan government published recently. As per a gazette notification issued by the Ministry of the Popular Power of Economy and Finances, foreign currency exchange operators must pay their taxes in the respective foreign currencies, local media reported.

Central Banks Cautious on Issuing Digital Currency: Report

A global survey shows that central banks are proceeding with caution on issuing their own digital currency, and most of them are only at a conceptual stage. Most people will have to wait to use a central bank digital currency. However, central banks are working hard to make sure the wait is worth it, says the report titled “Proceeding with caution – a survey on central bank digital currency.” 

More crypto Exchanges Join Japan’s self-regulatory crypto Association

In a statement, the association, formed in April by 16 class 1 registered crypto exchanges, said the five new Type II or second class members are Coincheck, Everyone’s Bitcoin, Lastroots Inc., LVC Corporation, and Coinage Corporation. The association, which was formed following the $530 million hack of crypto exchange Coincheck, aims to create industry-wide investor safety standards.

China Banking Association launches blockchain-powered inter-bank platform

The new platform called “the China Trade Finance Inter-Bank Trading Blockchain Platform” is aimed at improving the transaction mode, transaction efficiency, and ensuring transaction security to achieve electronic, informational and convenient inter-bank transactions. The platform has successfully completed the first and second phase of the network test, forming a technical standard and business product standard for smooth operation. Ten Chinese banks were part of the tests.

Crypto assets do not pose risks to financial stability: Reserve Bank of India

The Reserve Bank of India (RBI) in a report said cryptocurrencies such as Bitcoin and other crypto-assets currently do not pose risks to global financial stability. This was revealed in a document published by the RBI recently titled “Report on Trend and Progress of Banking in India 2017-18.” Although not banned by law, cryptocurrency trading has been subject to tight scrutiny in India, which is yet to form a legal framework for cryptocurrencies.

Bill to Exempt Cryptocurrencies from Securities Laws introduced in Colorado

A Bill to exempt cryptocurrencies and certain digital tokens has been introduced in the Colorado Senate. The move is aimed to remove “regulatory uncertainty” that could hold back firms offering marketplaces for tokens and others aiming to fundraise using crypto assets. Currently, companies that seek to issue, buy, sell or transfer digital tokens with a consumptive purpose face regulatory uncertainty under Colorado’s current securities laws.

NYCEDC Opens Public-Private Blockchain Resource Center In New York City

The New York City Economic Development Corp. (NYCEDC) opened a Public-Private Blockchain Resource Center in Chelsea to foster the continued growth in the blockchain industry in New York City (NYC). The center was open for business on January 10. NYCEDC is the City’s primary vehicle for promoting economic growth in each of the five boroughs of NYC. The Center will be an access point to the growing blockchain ecosystem by providing entrepreneurs and other innovators with shared space, business support, and mentorship.

Current Prices

As of this writing, Bitcoin is declining 3.60 percent or $135.85 to trade at $3641.61 on Coinbase. Ethereum is down 3.59 percent or $4.71 at $125.97.

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