Market Update 4.18.19 – Japan Introduces New Rules for Cold Storage Wallets

| Publish date: 04/18/2019
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Japan Introduces New Rules for Cold Storage Wallets

According to a mainstream media news report, Japan’s financial regulator, the Financial Services Agency, is going to impose new rules with regard to cold storage wallets at cryptocurrency exchanges. According to the report, the FSA will require crypto exchanges to strengthen internal controls related to cold wallets.

By imposing this new regulation, the FSA is looking to address the problem of security that has plagued digital currencies and crypto exchanges. The agency is also looking to alleviate other risks related to the industry via these regulations as it is looking to boost the fintech space to stimulate economic growth in the country.

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Binance Launching New Crypto Trading Platform in Singapore

According to the company’s chief financial officer (CFO) Wei Zhou, the major cryptocurrency exchange Binance is launching a new fiat-to-crypto trading platform in Singapore in the coming week.

Changelly - Exchange cryptocurrency at the best rate

The Chief Executive Officer of Binance Changpeng Zhao (better known as CZ) had already announced earlier this month that the on-ramp for Singapore would be launching soon, however, he had not specified exactly when. The CFO now, in an interview at the Paris Blockchain Week in France, gave more precise dates of the launch. He stated that this was going to be a new product launch of a very easy-to-use buy and sell platform for Bitcoin using Singapore dollars.

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Report: Legal Experts with Tech Knowledge High in Demand

According to a report on the legal information and news website Law.com, the managing director of Major, Lindsey & Africa Brian Burlant stated that the demand for legal experts who also had knowledge of technology is high.

Burlant, whose company recruits candidates for law firms as well as other companies’ in-house legal departments, also said that legal firms were finding it difficult to keep up with the demand for lawyers from the crypto and Blockchain industry since there was a lack of people who understood the new technology and were also qualified legal experts.

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Total Market Cap: Apr 18

The valuation of the crypto market is now $179.55 billion and it is experiencing volumes of trade to the tune of $43.25 billion.

Bitcoin Price Analysis: Apr 18

Bitcoin is up by 0.82%, with a trading price of $5284.17. The valuation of the crypto at this time is $93.27 billion and it is seeing volumes of trading of $12.78 billion.

Ethereum Price Analysis: Apr 18

Ethereum is trading at $171.73, a 2.85% increase in its price since yesterday. Capitalization of the altcoin is at $18.15 billion and its volumes of trade are at $6.26 billion.

State of the Top 10 Cryptocurrencies: Apr 18

In the last one day, most of the top-ranking cryptocurrencies have gained in capitalization as well as token price. The biggest gains have been for Binance Coin, whose price is up by 5.07%, Ripple, which is up 4.75%, and Ethereum, whose price is up 2.85%.

  • Bitcoin’s trading at $5284.17, up 0.82%. At the moment, the market worth of the crypto is $93.27 billion.
  • Ethereum’s trading at $171.73, up 2.85%. At the moment, the market worth of the crypto is $18.15 billion.
  • Ripple’s trading at $0.340305, up 4.75%. At the moment, the market worth of the crypto is $14.28 billion.
  • Bitcoin Cash’s trading at $310.55, down 0.70%. At the moment, the market worth of the crypto is $5.50 billion.
  • EOS’s trading at $5.52, up 0.65%. At the moment, the market worth of the crypto is $5 billion.
  • Litecoin’s trading at $81.02, up 0.65%. At the moment, the market worth of the crypto is $4.97 billion.
  • Binance Coin’s trading at $20.72, up 5.07%. At the moment, the market worth of the crypto is $2.92 billion.
  • Tether’s trading at $1.01, down 0.19%. At the moment, the market worth of the crypto is $2.54 billion.
  • Stellar’s trading at $0.118099, up 2.04%. At the moment, the market worth of the crypto is $2.28 billion.
  • Cardano’s trading at $0.083541, up 0.56%. At the moment, the market worth of the crypto is $2.16 billion.
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