Crypto Space Over The Past Week From 5 To 11 February, 2018
At the end of the week, we resume everything that the crypto community talked about over the past seven days.
This week began with the continuation of the steep peak of bitcoin: on several major exchanges, the price briefly fell below $6000, provoking another panic-sell. A large number of FUDa in the media seemed to have to drag the rate even lower, and the news of the week about the collapse of the Dow Jones index also did not bode well. But after several critical marks, the rate quickly grew. By the way, there were even theories that growth contributed to the collapse of the Dow Jones, as money from the stock market flowed into the crypto currency: as they say, out of the fire and into the fire.
The news of the week was the first in the history of the magazine Forbes rating of crypto-currency rich people. Changpeng Zhao, the head of the Binance exchange, took the third place in this list, but it was the cover due to the phenomenal growth of the exchange, which in the incomplete year became the largest non-credit crypto exchange.
The world's largest online auction eBay refuses to partner with PayPal in the processing of payments after 15 years of cooperation in favor of the Dutch service Adyen, which integrated bitcoin into its system thanks to the partnership with BitPay. This will allow eBay, as well as companies such as Facebook, Spotify, Uber and other vendors using the Adyen system, to accept the digital currency for payment.
Billionaire Mike Novogratz managed to collect approximately $ 250 million in bitcoins for his cryptocurrency trading bank. Located in New York, Novogratz bank intends to trade in cryptocurrencies, as well as investing at its own expense, managing client assets and advising venture capital firms whose work is related to the blockchain.
On February 7, Grayscale launched its fourth cryptocurrency investment fund. It inckuides such crypto assets, as Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin.
Large investments in the development of the cryptocurrency market in the US occur in parallel with the issues of cryptocurrency regulation.
Also this week, the US Federal Marshals Service successfully sold 3,613 bitcoins, which have confiscated during the investigation of a number of crimes.
Armenian parliamentarians are discussing the possibility of legalizing cryptocurrencies in the country. The authors of the bill propose to allow mining to citizens of the country not younger than 18 years, as well as legal entities.
The confrontation on the Korean Peninsula received a new impetus on Monday, February 5, when Seoul accused its Northern neighbor of hacking cryptocurrency exchanges, stealing bitcoins and other digital currencies for millions of dollars. While South Korean officials say they will not prohibit trade in cryptocurrencies.
China continues its attempts to liquidate digital currencies in the country. So, this week the government decided to "intensify measures" against internal and external trading platforms.
The Japanese national tax agency decided to strike at a crypto currency mania: now people who earn on digital currencies have to pay high taxes. Unlike stock and foreign currency earnings, which are subject to a 20% tax, the digital money rate in Japan ranges from 15 to 55%. The upper limit applies to persons with an annual income of at least 40 million yen ($ 365,000).
Soon, it will operate two payment processors of lightcoin - LitePay and LitePal. It has expected that LitePay will be launched this week, but at the time of publication the service is at the closed beta. LitePal will be released later this year. As stated on the official website, users will be able to work with this service through PayPal, Western Union, bitcoin and litecoin, and the commissions will be "fantastically low".
Chinese competitor search engine Google, Baidu, decided to join the technology of blocking. He began with the creation of a clone of the sensational game CryptoKitties, where the main characters instead of cats were dogs. An important difference CryptoDogs is that the game is not based on the blockbuster etherium, but on an alternative called Achain.
Developers of the protocol decentralized marketplace OpenBazaar said on February 7 on adding support Bitcoin Cash. In addition, OpenBazaar has launched a beta version of Zcash: both currencies have been added to the new version 2.1.