Bitcoin and other cryptocurrencies are hottest subject of 2017. No Matter how many times bank CEO’s, VPs and executives criticize Bitcoin it keeps climbing in the valuation.
The Commodity Futures Trading Commission (CFTC) is concerned that leveraged or margin trading may have precipitated the flash crash. Coinbase started offering Margin trading in March’17 and they quickly discontinued right after ETH flash crash. (ETH price dropped from $317.81 to 10 cents in milliseconds before quickly recovering)
Dubai wants to lead the fintech revolution and maybe thats why local government in Dubai has officially launched their own CryptoCurrency, emCash.
According to Ali Ibrahim, Deputy Director General of Dubai Economy, the token will be considered legal tender “for various government and non-government services, from their daily coffee and children’s school fee to utility charges and money transfers.”
According to Charlie Lee, former engineering director at Coinbase and Litecoin creator, SegWit2X may happen and coinbase will end up supporting new fork as they have supported ETC and promised to support BCH.
But as time closes in for another Bitcoin Hardfork, Bitcoin Gold (BTG maybe), Coinbase user community is requesting Coinbase to take public stance and provide guidance how they will handle this hardfork. So far there are no comments from Coinbase and KryptoMonk thinks that they will be quite on this situation similar to BCH fork and will wait & watch before announcing anything publicly
Few days back China banned raising money using ICO and today South Korea follows on China’s foot steps banning to raise money through all forms of virtual currencies.
As we mentioned before, ICOs are bad for digital currency and they are only easy vehicle for scammers raising digital coins.
KryptoMonk requests all financial regulators of the world, including SEC, must ban all forms of raising money for ICO. This will definitely strengthen all crypto currencies.