Market Update 2.28.18 – JP Morgan have to Change to Deal with Cryptocurrencies
Market News
JP Morgan States it may have to Change to Deal with Cryptocurrencies
After Bank of America and Goldman Sachs said that cryptocurrencies could be a threat to their business, JP Morgan Chase & Co has also made a similar statement. In its yearly 10-K filing, the global financial services giant said that cryptocurrencies were a potential threat that could disrupt their business.
The company stated that new technologies could require JP Morgan Chase to change or adapt its product and service offerings to combat cryptocurrencies. To read the full story, click here.
CFTC Gives Employees Permission to Invest in Cryptocurrencies
The United States Commodities and Futures Trading Commission (CFTC) has finally given its employees permission to invest in Cryptocurrencies. Bloomberg reported that the Commission’s General Counsel, Daniel Davis gave his permission in a memo earlier this month.
While employees can now invest in cryptocurrencies, they are still forbidden from margin trading or crypto futures trading. They also are prohibited from using internal information for insider trading. To find out more, click here.
All Malaysian Crypto Exchanges Must Identify Traders
The central bank of Malaysia, the Bank Negara Malaysia (BNM) just launched its new anti-money laundering legislation on Tuesday, February 27. According to the new legislation, all exchanges that offer crypto-to-fiat, crypto-to-crypto and fiat-to-crypto trade must now fully identify as well as verify the customer’s identity.
The BNM Governor, Mr. Tan Sri Mohammed bin Ibrahim had emphasized the need to control the potential illegal applications of digital currencies. This led to the creation of “customer due diligence” rules in the new regulations, which needed to be implemented before existing as well as new accounts were allowed to continue to function. To read more of the story, click here.
Total Market Cap: Feb 28
Trading volume for all cryptocurrencies for the last 24 hours is $17.5 billion. The current market capitalization of all digital assets is $448.65 billion.
Bitcoin Price Analysis: Feb 28
At the time of writing, the Bitcoin price is $10,554.90, which shows a growth of 1.81%. The cryptocurrency’s trading volume has been at $6.87 billion. Bitcoin’s market capitalization is currently at $178.29 billion.
Ethereum Price Analysis: Feb 28
Ethereum’s price at the time of writing is at $870.44, which denotes a gain of 0.12% in the last one day. The altcoin’s trading volume has been at $1.98 billion and its market capitalization is $85.21 billion.
State of the Top 10 Cryptocurrencies: Feb 28
**The data given here covers the last one day of trading for the top 10 cryptocurrencies.
- Bitcoin is trading at $10,554.90, a gain of 1.81%. BTC’s current market capitalization is $178.29 billion.
- Ethereum is trading at $870.44, a gain of 0.12%. ETH’s current market capitalization is $85.21 billion.
- Ripple is trading at $0.92, a loss of 2.23%. XRP’s current market capitalization is $35.94 billion.
- Bitcoin Cash is trading at $1,222.52, a loss of 2.14%. BCH’s current market capitalization is $20.77 billion.
- Litecoin is trading at $209.26, a loss of 3.46%. LTC’s current market capitalization is $11.59 billion.
- NEO is trading at $136.21, a loss of 2.53%. NEO’s current market capitalization is $8.85 billion.
- Cardano is trading at $0.315, a loss of 5.32%. ADA’s current market capitalization is $8.17 billion.
- Stellar is trading at $0.343 a loss of 4.33%. XLM’s current market capitalization is $6.34 billion.
- EOS is trading at $8.70, a gain of 0.69%. EOS’s current market capitalization is $6.07 billion.
- IOTA is trading at $1.91, a loss of 0.52%. MIOTA’s current market capitalization is $5.30 billion.