Key Weekly Highlights - MC Update 4/4
Australian exchanges tighten AML/CTS policies - AUSTRAC registration means stricter AML/CTS screening and suspicious activity monitoring with transactions over $10,000 to be reported - all user data needs to be stored for 7 years.
Independent Reserve becomes the first Australian Exchange to be registered under AUSTRAC
BitPay raises US$40Mn for Series B from traditional VC funding for equity - BitPay processes Bitcoin and Bitcoin Cash payments for merchants. They had to expand its Series B from US$30Mn to US$40Mn due to high demand.
Q1 2018 was the worst quarter on record for Bitcoin - Historically Q2 has consistently outperformed Q1 according to CNBC Fast Money
Bitmain, the largest producer of mining gear for Bitcoin out of China is releasing Ethereum ASIC Miner - application specific integrated circuit (ASIC) miners from Bitmain are set to be significantly more effective than traditional graphics cards.
Centra - a fraudulent ICO gets shutdown - The SEC claimed the ICO was an unregistered securities offering, engaged in fraudulent conduct and made material misstatements and omissions designed to deceive investors
Robinhood Launches Commission-Free Crypto Trading in 4 US States - Robinhood app allows BTC and ETH to be traded in California, Massachusetts, Missouri, and Montana.
China declared cryptocurrencies a top priority for 2018 - The central bank has created a science and technology team aimed at tackling the new technology which has already applied for 22 new patents.
- Coinbase the largest exchange in the US is set to support ERC20 tokens - Coinbase released a blog post that said support for ERC20 is coming in the next few months.
This week Bitcoin bounced off ~US$6,300 to recover back to low US$7,000 with some promising upwards momentum.
The entire asset class saw the market cap move from ~US$300Bn down to ~US$245Bn, and bounce back to ~US$280Bn.
Total number of tracked crypto assets grows to 1600.
Bitcoin dominance remains mainly unchanged at 44.8% at the time of writing.