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Crypto Space Over The Past Week From 29 Of October To 4 Of November, 2018

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At the end of the week, we resume everything that the cryptocommunity talked about over the past seven days. This week Bitcoin celebrated ten years old and Vitalik Buterin presented Ethereum 2.0 roadmap.

Opinions

During Devcon IV conference in Prague on October 31, Vitalik Buterin presented an abbreviated and expanded Ethereum roadmap. Briefly outlining the history of the protocol Casper and Sharding, Buterin announced that the fourth phase of Ethereum development will soon begin - after Frontier, Homestead and Metropolis. In a conversation with MIT Technology Buterin said that there is the time stop an essential role in contributing to development of Ethereum, since it is necessary for the development of the community.

According to the head of the Central Election Commission of the Russian Federation, Ella Pamfilova, everybody can use the technology of a distributed ledgers in many industries, but he need to abandon the term "blockchain". Blockchain enthusiasts need to rename the technology, adapting it to Russian.

The former head of the US Federal Reserve, Janet Yellen, thinks Bitcoin is a useless asset. In one of her last speeches, she listed cryptocurrency weaknesses.

Discussing prolonged decision-making on bitcoin-ETF, the head of BlackRock, Larry Fink, has said that he wouldn't begin to introduce them because of current state of the cryptocurrency exchange markets. He has added that he doesn't deny a possibility of success of cryptocurrency assets in the long term.

The American politician, former member of the Republican Party of Representatives, Ron Paul, has published an article that supports the use of cryptocurrency and precious metals, and also says that they should be exempted from taxes.

The head of JPMorgan, Jamie Dimon, again spoke negatively about the leading cryptocurrency (despite his promises to leave this discussion).

According to Arthur Hayes, the head of BitMEX, the current “bearish” cryptocurrency market can last another 18 months.

Ratings

According to Block the largest volume of operations through the LocalBitcoins service was in Russia and Venezuela. 38.7% of all transactions with the main coin accounted for Russian and Venezuelan investors.

According to the National Intelligence Service of South Korea, voiced on October 31 at a hearing in the country's parliament, the regulators continues to engage in cryptojacking and data stealing.

According to the Financial Times, the world's largest audit companies hire experts on the blockchain and cryptocurrencies to subsequently provide their services to the crypto community. However, poor regulation in this sector has hampered their plans, as there is still no single agreement in the world on how to audit digital assets.

According to Google Trends, Internet users have become more actively interested in the essence and use cases of blockchain technologies. At the same time, the number of requests about cryptocurrency, in contrast, continues to decline.

The Information Industry Development Center (CCID) under the Ministry of Industry and Information Technology of China presented a new rating including 33 digital currencies. As well as last time, EOS and Ethereum, which took the first and second places respectively, were at the top. Bitcoin dropped from 16th to 19th place, and Bitcoin Cash climbed 31st to 28th place.

According to a report by Grayscale, a subsidiary of Digital Currency Group, total investments amounted to $ 81.1 million in 3Q, a 33% increase over the previous three months. Over the year, $ 330 million was invested in Grayscale, and this was the best YTD figure for all five years of the company.

Cryptocurrencies

Tether market has stabilized, gaining parity with the US dollar, but the supply of tokens is still declining. The developers of stablecoin Tether officially announced a new partner for servicing accounts in the face of Deltec Bank.

Circles stablecoin USDC, which was launched just about a month ago, is rapidly gaining popularity and attracting more and more investors. USDC's market capitalization rose from $ 24 million to $ 126 million in just two weeks.

The Swiss startup Smart Valor promises to release the country's first stablecoin, tied to the national currency - the Swiss franc.

Ethereum Foundation reported that it donates 15,000 ETC tokens to the Ethereum Classic Cooperative. The statement gives grounds to say that the two structures, which have ignored each other for a long time, begin to cooperate.

Cryptocurrency Exchanges

On October 30, Coinbase Exchange officially announced that it had raised another $ 300 million. According to a post-investment estimate, the company’s value at the end of round E is $ 8 billion. The president and chief operating officer of the American cryptocurrency company Asiff Hirji denied rumors that Coinbase would hold an IPO.

On October 29, Bitstamp announced that it was acquired by investment company NXMH, which also owns the South Korean trading platform, Korbit. According to rumors, Bitstamp cost the new owner $ 400 million.

Bittrex has officially announced that it intends to enter the global market through the launch of Bittrex International (formerly known as Bittrex Malta). In the coming weeks, a new trading platform is waiting for a period of testing and evaluation, after which it will open the doors for international users.

WEX Exchange, which arose on the ruins of the closed FBI platform BTC-e, was again in the center of the scandal. After reports that WEX had transferred funds from its cold wallets to Binance, the latter decided to identify and block the corresponding accounts.

Regulation

Pavel Livadny, Deputy Head of Rosfinmonitoring, announced that the agency would establish control over the circulation of cryptocurrency in accordance with the recommendations of the Financial Action Task Force on Money Laundering (FATF).

Russian cryptocurrency traders will be able to defend their interests in a special court. Under the Russian Union of Industrialists and Entrepreneurs (RSPP), it is planned to launch the Arbitration Center at the beginning of next year to resolve conflicts.

The UK Financial Services Authority (FCA) has announced that it will consider whether to prohibit the sale of cryptocurrency derivatives. FCA also clearly expresses the view that cryptocurrency has “no intrinsic value,” so “investors must be prepared to lose all the value they have invested.”

The Financial Services Agency of Japan (FSA) explained that the current legislation of the country does not consider stablecoin as virtual currencies. Moreover, their issuers and dealers must go through the registration procedure.

The Supreme Court of Venezuela recognized Petro's cryptocurrency as a legal means of payment - a court ruling states that the government “must promote the use of cryptocurrencies as a means of payment and act as guarantor of such use.”

The Hong Kong Securities Regulatory Authority has published new rules for cryptocurrency funds, stating that these regulations also aim to regulate cryptocurrency exchanges and improve industry supervision.

Legal Problems

Cameron and Tyler Winklevoss filed a lawsuit on early bitcoin investor and the businessman Charlie Shrem because of 5000 bitcoins which, according to twins, he owed them.

Polish police confiscated $ 11.6 million from the DasCoin cryptocurrency project, accused of deceiving investors. The price of DasCoin tokens has plummeted due to the confiscation of funds.

Users of Oyster (PRL) cryptocurrency on October 30 sounded the alarm in social networks, suspecting that the founder of this project, acting under the pseudonym Bruno Blok, deceived investors. Someone who controls the smart contract, released and immediately sold 300,000 tokens, rescuing about $ 300,000.

Englishman Corey Fricker, who has robbed the cryptocurrency trader Cyrene Hamilton, received 13 years in prison.

On October 29, the US Federal Court found Bitcoin-dealer Jacob Burrell Campos guilty of operating without a license. He has to pay almost a million fine and spend up to five years in prison.

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