Crypto Weekly – Jan.25

The price of Bitcoin remained largely unchanged in the past week, and continued to be range-bound between $3,700 and $3,500. The world’s largest cryptocurrency by market capitalization, BTC is down by nearly 2 percent, or $65, since last week. Both the weekly high of $3734 and low of $3510 were recorded on a single day, January 19.
For the rest of the week, the cryptocurrency continued to trade in sideways above the crucial support level of $3,500, and at the same time, was reluctant to touch the $3600 mark.

Here is a collection of the popular stories from the cryptocurrency and blockchain space during this week.

Saudi Arabia, UAE Agree To Launch New Joint Cryptocurrency

The Saudi-Emirati Coordination council, during its first meeting in Abu Dhabi, launched its Strategy of Resolve with seven initiatives in vital sectors for collaboration between both countries, including the Saudi-Emirati Pilot cryptocurrency. The cross-border digital currency will be targeted for banks at an experimental phase. The countries aim to better understand the implications of Blockchain technology and facilitate cross-border payments.

Crypto Expert predicts the end of ICOs; the advent of STOs

Bitcoin and Blockchain technology expert Sean Brizendine said he believes the world is watching the end of initial coin offerings (ICOs), and moving towards the Securitized Token Offerings (STOs). He predicts that by December this year, the bitcoin industry will be cleaned and purged of its bad actors through both self-policing and traditional enforcement.

Briton behind $11 mln of cryptocurrency theft arrested

British man who is suspected of stealing around $11 million worth of cryptocurrency has been arrested in an operation led by EU law enforcement agency Europol. It was a joint operation between the UK’s South East Regional Organized Crime Unit (SEROCU), National Crime Agency (NCA), the Hessen State Police in Germany, and Europol that culminated in the arrest of a 36-year-old man from the city of Oxford on Wednesday. A number of computers and electronic devices were also seized from him, Europol said in a press release

Nasdaq Invests In Enterprise Blockchain Startup Symbiont

Nasdaq, the second-largest stock exchange in the world, has made an investment in enterprise blockchain startup Symbiont. Nasdaq would also explore new business opportunities to utilize Symbiont’s enterprise blockchain and smart contract platform Assembly into the Nasdaq Financial Framework. Symbiont raised $20 million funding in a Series B round led by Nasdaq Ventures. The investment was supported by new investors including Galaxy Digital, Citi, Raptor Group, and others.

Iceland Bitcoin-mining Heist mastermind sentenced to 4-year jail term

Sindri Thor Stefansson, the mastermind behind the theft of $2 million worth of bitcoin mining equipment from Iceland, has been sentenced to four-and-a-half years in jail. His six other accomplices were imprisoned for a total of nine years and seven months. Stefansson’s case had made headlines around the world as the low-crime, thinly populated European country had become a hot-spot for bitcoin mining.

John McAfee Flees U.S. On Boat To Escape Tax Fraud Charges

Internet security expert and cryptocurrency enthusiast John McAfee announced that he has fled the United States as he is facing tax fraud charges by the country’s tax authorities. McAfee, who has already announced his 2020 presidential bid, released a series of videos on Twitter that shows him “living in exile” on a luxury boat, so that US authorities cannot arrest him.

Cboe Withdraws application to list VanEck-SolidX Bitcoin ETF

Cboe Global Markets, the owner of Chicago Board Options Exchange, withdrew its application for a bitcoin exchange traded fund, or ETF with the U.S. Securities and Exchange Commission. The move reportedly is due to the ongoing U.S. government shutdown. In a filing, the SEC noted that Cboe BZX Exchange, Inc. withdrew the proposed rule change to list and trade shares of SolidX Bitcoin shares issued by the VanEck SolidX Bitcoin Trust.

Pennsylvania Crypto firms exempted from Money Transmitter License

Crypto currency exchanges and service providers in Pennsylvania have been exempted from applying for Money Transmitter License to operate in the state. Since virtual currency, including Bitcoin, is not considered “money” under the MTA, Money Transmitter License is not required for crypto currency exchanges, Pennsylvania’s Department of Banking and Securities, said.

LSE’s Technology To Power Atom’s New Digital Asset Exchange In Hong Kong

LSEG Technology, London Stock Exchange Group’s technology solutions provider, said it has been selected by Atom Group, a fintech company focused on blockchain technology and emerging digital assets, to power its new Hong Kong-based digital asset exchange AAX. The new digital exchange, which is expected to launch in the first half of fiscal 2019, will use LSEG’s Millennium Exchange matching engine.

Spanish Port Authority Joins IBM/Maersk’s TradeLens blockchain platform

The Port Authority of the Bay of Algeciras or APBA has signed an agreement to collaborate with Tradelens, a blockchain technology-based shipping platform, Europa News reported. Tradelens, which was launched in August last year, was jointly developed by IBM and Danish shipping giant Maersk, to bring transparency in the shipping industry.

BSI partners OriginTrail to develop blockchain-enabled solutions

The British Standards Institution (BSI), the the national standards body of the U.K, is partnering blockchain company OriginTrail to develop blockchain-powered solutions to increase supply chain transparency. The move is expected to enhance BSI’s global assessment, certification, and supply chain services to confirm the provenance of goods and/or the integrity of digital records or services. The solutions and services will be created based on the needs of BSI’s clients.

Current Price

As of this writing, Bitcoin is trading down 0.30 percent or $10.88 at $3551.80 on Coinbase. Ethereum is declining 0.49 percent or $0.57 at $115.37.

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