Market Update 10.29.18 – Lawmaker Wants New Category For Crypto Startups

| Publish date: 10/29/2018
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Lawmaker Wants New Category For Crypto Startups

Taiwan’s “Crypto Congressman” continued his push for more modernized regulation around the tech by proposing new rules for token sales. On Friday, the Taiwanese legislator Jason Hsu published a list of policy recommendations aimed at aiding cryptocurrency startups, including one that would see the Ministry of Economic Affairs (MOEA) create a new business category, as well as a new legal framework for security tokens.

Hsu also called for the Taiwanese legislature’s Finance Committee to issue guidelines for initial coin offerings (ICOs) with a focus on consumer protection. His proposal comes just days after the nation’s financial regulator announced it would set up ICO regulations within the next eight months. He announced that these standards would likely outline how tokens may be classified as securities, but notably added that digital currencies being used to purchase goods or act in a manner unrelated to securities offering would not fall under the new regulations.

Read the full report here.

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IBM, Maersk Struggle Get Partners To Shipping Blockchain

Shipping giant Maersk and tech provider IBM are wrestling with this problem with TradeLens, their distributed ledger technology (DLT) platform for supply chains. Some 10 months ago, the project was spun off from Maersk into a joint venture with IBM. But in that time the network has enticed only one other carrier onto the platform: Pacific International Lines (PIL), one of eight shipping lines in Asia and 17th in the world based on cargo volumes.

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In a nutshell, the IBM-Maersk joint collaboration needs more carriers. The platform is designed such that Maersk’s rivals will act as “trust anchors” and run full blockchain nodes on the network. Moreover, large shippers of goods use multiple carriers and freight-forwarders, and the value proposition involves managing cargo and inventory across all of them.

Read the full report here.

BTC Worth $1 Million If Turned Into ‘World Money’

The CEO of Money Button, Ryan X Charles, recently uploaded a video where he shared his opinions concerning the current state of Bitcoin (BTC). He stated that the actual essence of the token was to create a financial system where sound digital money can be made available to the world.

Ryan detailed that Bitcoin orbited around the notion of generating sound digital currency that encompasses everyone the world over. In addition to this, persons could join in trade with others in such a way that it will be impossible for a third party to place an embargo or hinder their payments.

Read the full report here.

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Total Market Cap: October 29

The volume of trade in the crypto market sat at $9.75 billion. The market’s capitalization, on the other hand, reached $208.95 billion.

Bitcoin Price Analysis: October 29

In the past 24 hours, Bitcoin jumped 0.01% to trade at $6,477.66. The leading cryptocurrency’s trade volume trickled to $3.55 billion, while its market slid to $112.37 billion.

Ethereum Price Analysis: October 29

Ethereum’s price jumped 0.07% to trade at $204.36. As for the altcoin’s trading volume, it reached $1.21 billion; whereas its market capitalization hit $21.02 billion.

State of the Top 10 Cryptocurrencies: October 29

In the past 24 hours, some prices were up while others plummeted. Meanwhile, Monero continues to dethrone TRON at the 10th spot.

  • Bitcoin’s market price jumped 0.01% to $6,477.66, and its value in the market is $112.37 billion.
  • Ethereum’s market price jumped 0.07% to $204.36, and its value in the market is $21.02 billion.
  • XRP’s market price jumped 0.12% to $0.457815, and its value in the market is $18.41 billion.
  • Bitcoin Cash’s market price fell 0.26% to $437.44, and its value in the market is $7.62 billion.
  • EOS’ market price fell 0.26% to $5.39, and its value in the market is $4.88 billion.
  • Stellar’s market price jumped 0.31% to $0.230468 and its value in the market is $4.35 billion.
  • Litecoin’s market price fell 0.32% to $51.78, and its value in the market is $3.05 billion.
  • Tether market price fell 0.27% to $0.992982, and its value in the market is $1.91 billion.
  • Cardano market price fell 0.54% to $0.072304, and its value in the market is $1.87 billion.
  • Monero dethroned TRON at the 10th spot, with its market price jumping 1.03% to $103.77, and its value in the market is $1.72 billion.
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