Sec Hires, Exchange Rumors, and Bitcoin Price Woes: this week in Crypto

Be sure to take a look at our previous edition here, now let's go over what happened in the crypt this week. Also, be sure to sign up for this week's The CCN Podcast on iTunes, TuneIn, Stitcher, Google Play Music, Spotify, Soundcloud, YouTube or wherever you get your podcasts.

Price Watch: [19659004] Bitcoin fell by 11% this week – The price rose to $ 7,200 at the start of Sunday and increased to $ 7,300, then to $ 7,400, too if the other cryptocurrencies have collapsed precipitously. The price then fell from $ 7,400 to $ 6,950 in less than 30 minutes Wednesday, marking a 2% price drop. The price then quickly fell to $ 6,400 when the bulls panicked and settled at $ 6,400.

Ethereum is down 31% this week by placing it at a minimum of 12 months. Ethereum suffered some major losses, although Bitcoin was increasing at the start of this week. The currency then fell with Bitcoin and is now just below the $ 200 support level. Many are still blaming the ICO for these drops. Vitalik said the 100-day growth days have gone.

The entire capitalization of the currency market decreased by 17% this week following declines across the board. Most price drops occurred very early in the week as Ethereum, Ripple, Bitcoin Cash, Litecoin and EOS declined between 1% and 4% with the increase in Bitcoin, but then fell much faster when Bitcoin veered south. Also at the beginning of the week WanChain, Digibyte and Aion increased by 30%. These increases helped keep losses as low as $ 200 million, even if the coin market limit fell below $ 200 billion.

Governments:

• Central Bank of South Africa wins the prize for Blockchain – Central Banking, a central bank global f orum, conferred its FinTech & RegTech Award for the best registry initiative distributed to the central bank of South Africa for its successful project Khokha, which successfully used a blocker platform of Ethereum to process interbank payments and settlements. The South African Reserve Bank designed and executed the Khokha Project in less than three months to test the competence, resilience, confidentiality, purpose and scalability of a DLT solution for transaction processing under realistic conditions on a wholesale payment system.
• Uzbekistan is Licensing Crypto Companies – The Korean Blockchain Business Association (KOBEA) and the Government of Uzbekistan have signed a memorandum of understanding (MoU) to establish the first encrypted exchange authorized by the government. The move is part of an initiative to compete against Malta, Busan of South Korea, Jeju Island, Switzerland and other major cryptic markets.
• Trump's new SEC rental empowers the possibility of the bitcoin ETF – Elad Roisman, a newly-appointed SEC member, could be the missing piece in tilting the balance in favor of an ETF bitcoin approval. The new commissioner becomes the third designated by Trump at the SEC, succeeding Michael Piwowar, who resigned in July. Roisman said in a statement that the SEC must re-examine its rules on the blockchain and the initial coin offerings.

Exchanges:

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