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Congressman Darren Soto introduces the token taxonomy law
This week, Democrat Darren Soto, along with Congressman Warren Davidson, introduced the Token Taxonomy Act. The new law plans clarify the confusion surrounding the classification of cryptocurrency. Above all, he says that a digital resource is no longer a security once it becomes a fully functioning network. A couple of weeks ago, Sato joined Ted Budd to put an end to the manipulation of cryptocurrency prices. The two men introduced a couple of invoices that "direct the CFTC and other financial regulators to make critical recommendations on how to improve the regulatory environment for both the consumer and the development of the business".
Facebook returns with cryptographic titles
According to a Bloomberg report this week, "people are familiar with the issue" said that Facebook is working on the creation of a stablecoin for WhatsApp money transfers. The company is planning to start in India where the country has over 200 million WhatsApp users and 69 billion dollars in annual remittance payments. As always, you will have to take this news with a pinch of salt as the ad is not from Facebook itself. Facebook creates a cryptocurrency – a story as old as time. Facebook is increasing its blockchain team, however, boasting about 40 members according to LinkedIn. The former president of PayPal David Marcus has run the Facebook Messenger app since 2014 and is currently head of the blockchain division.
Vitalik gives the capital to Ethereum Startups
Collecting some news from Twitter, Vitalik Buterin, the third creator of cryptocurrency leader in cryptocurrency, has given $ 300,000 in cryptocurrency to Ethereum startups. Buterin gave away the $ 300K to three Etherum startups: Prysmatic Labs, ChainSafe Systems and Sigma Prime. Each of the startups received 1K Ethereum from Buterin, which was subsequently released in a Twitter thread. According to reports, all three startups are working to improve the Ethereum network and transfer it to Ethereum 2.0. ChainSafe is creating a client compatible with Ethereum 2.0; Prysmatic Labs is working to improve scalability, and Sigma Prime is also working on a 2.0 client called Lighthouse.
Hong Kong to strengthen cryptocurrency laws
While mainland China has almost closed its doors to trade in cryptocurrencies in the country. Trade in ICOs and cryptocurrencies is still permitted in Hong Kong. Now, reports have emerged whether it is cryptographic exchanges, traders, investors, companies or encrypted institutions; everything will be placed under close supervision by the Securities and Futures Commission (SFC) in Hong Kong. According to the latest SFC guidelines, now on, a license will be required for all investment funds comprising more than 10% of bitcoins or any other cryptocurrency currency or token. Funds can only be sold to professional investors.
Binance for the launch of DEX and another 10 fiat exchanges in 2019
This week for exchanges, the CEO of Binance Changpeng & # 39; CZ & # 39; Zhao was recently interviewed regarding the latest developments in BTC and Binance and his market perspective going forward. During the interview, CZ was asked about changes in Binance's expansion strategy due to the merging markets to which he responded by saying "Our strategy has not changed at all." We have launched a fiat exchange so far and we are to launch another 2-3 in the next month or so We want to build another 10 fiat exchanges next year and we are also starting our decentralized exchange (DEX) which is an exchange based on the very core blockchain technology
Bitcoin (BTC)
Christmas arrives and so does the Santa Claus rally that brings all the green markets into the crypt. It was the first time in the last 2 weeks that Bitcoin has moved over 4000 USD continuing the journey to the top. Prices hit the highest point of USD 4,198.43 and the lowest point of USD 3,253.12 during the week. The most active trades, in volumes, with BTC on several pairs this week were, BitMex (21.94%), CoinBene (3.72%) and DOBI Trade (2.93%)
Leading news on Bitcoin, Michael Novogratz predicted that Bitcoin will reach $ 3,000 to $ 6,000 in the short term
Ripple (XRP)
The XRP is still in second place while Ethereum continues to beat. At the top, this week XRP prices were $ 0.393330 and downward they traded 0.286942 USD. The most active trades, in volumes, with XRP on several pairs this week were ZB.COM (13.07%) Bitbank (11.00%) and ZBG (7.62%)
For XRP this week, XRP voted as the best "Crypto" Christmas gift on Twitter
Ethereum (ETH)
Ether, like BTC, is growing and now sits firmly above USD 100. Ethereum at the top, this week was at USD 119.09 and touched the lows of USD 85.38. The most active markets, in terms of volumes, with ETH on several pairs this week were traded with DOBI (6.46%), OEX (4.77%) and OKEx (4.74%)
Among the news surrounding Ethereum this week, Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, blew up his critics (particularly cryptic "journalists and bloggers") and said he could see a "very bright" future for Ethereum and its ecosystem.
The Other Movers and Shakers
The other coins that entered the top and bottom this week according to the Coin Market Cap (accessible December 23rd at 3:35 pm IST) were
Movers
- Currency – with an increase of 211.20%
- NKN – 152.07% increase in results
- Spendcoin: shows a 149.16% increase
Shakers
- Veros – Showing a decline of 95.95%
- empowr coin – Showing a loss of 94.79%
- True Deck: shows a loss of 82.20%
What do you think the feeling of the cryptic markets would be like next week? Let us know your opinions on the same
Summary
Item name
Price analysis of cryptocurrency for the week from December 17th to December 23rd
Description
Congressman Darren Soto introduces the token taxonomy law
Facebook returns with cryptographic titles
Vitalik gives the capital to Ethereum Startups
Hong Kong to strengthen cryptocurrency laws
Binance for the launch of DEX and another 10 fiat exchanges in 2019
Author
Nilesh Maurya
Publisher name
Coingape
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