Crypto Corner: G20 to Regulate #Cryptos In Line With FATF Standards, Singapore's Central Bank Issues #ICO Guidelines, Japan's FSA to Issue ICO Guidelines and Ohio to See Hundreds of Millions in Blockchain Investment
December 3rd #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - December 3, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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Crypto Corner: G20 to Regulate #Cryptos In Line With FATF Standards, Singapore's Central Bank Issues #ICO Guidelines
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Crypto Struggles to Maintain Recovery, G20 to Regulate Cryptos In Line With FATF Standards, Singapore's Central Bank Issues ICO Guidelines, Japan's FSA to Issue ICO Guidelines and Ohio to See Hundred of Millions in Blockchain Investment
Over the weekend there wasn't too much fluctuation in the crypto market cap as it peaked around $139 billion on Saturday and is sitting at $125 billion at press time, according to CoinMarketCap. Bitcoin (BTC) has so far failed to remain above $4000 for long and is currently trading for $3877. XRP and Ether (ETH) are trading for $0.35 and $108, respectively, and Stellar (XLM), which has surpassed Bitcoin Cash (BCH) as the fourth-biggest coin by market cap, is trading for $0.15 at press time.
G20 countries agreed to regulate cryptocurrencies in line with Financial Action Task Force (FATF) standards, according to the Saudi Gazette. The FATF was founded in 1989 to develop policies aimed at combating money laundering and the financing of terrorism.
The Monetary Authority of Singapore (MAS) has issued an updated set of guidelines for ICOs. "Digital tokens" fall under the purview of the guidelines if they are considered "capital markets products" under Singapore's Securities and Futures Act (SFA). However, the document states that:
Digital tokens that perform functions which may not be within MAS' regulatory purview may nonetheless be subject to other legislation for combating ML/TF [money laundering/terrorism financing].
JIJI Press reports that Japan is looking to make a similar move in that their Financial Services Agency (FSA) is set to launch regulations on ICOs. The report indicates that the FSA plans to place limits on investment to protect from possible fraud, and will require businesses to register ICOs with them before issuance.
Cleveland.com reports that tech funds in Ohio will invest $300 million into blockchain startups over the next few years. JumpStart, and six other funds from the state, will invest $100 million in early-stage startups. And JumpStart CEO Ray Leach announced during a speech at the Blockchain Solutions conference that "additional investment teams plan to make $200 million over the next three years available for blockchain companies".
Sam Mowers, Investorideas
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Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
@GenesisBlockch
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange. You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
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