According to a study conducted by the Bank of Canada, Canadian citizens were using BTC as a means of investment in 2017. This study, published on July 23, is an update of an earlier study (the Bitcoin Omnibus Survey) conducted by the country’s central bank for the period between December 12 and December 15 last year.
Cryptocurrency Market Updates
The G20 member countries are targeting October as the deadline to review global Anti-Money Laundering (AML) standards for cryptocurrencies. During a meeting held for the G20 countries this weekend, members reemphasized their stance on vigilantly monitoring cryptocurrencies.
It is interesting to see that crypto markets are seeing mostly green today, which is proof of its continuous momentum in this week’s upswing. The top ten digital currencies are reportedly gaining strength, as they are up as much as 8 percent. Of course, Bitcoin leads the race and Ethereum follows the second spot.
The BBVA (Banco Bilbao Vizcaya Argentaria), a Spanish multinational banking group, announced that it has signed a loan agreement with civil engineering company, ACS Group. What makes this agreement special is that it is a Blockchain-based loan, which will provide ACS a corporate long-term bilateral loan to the tune of €100 million (about $117 million).
Huobi Group announced the launch of a brand new platform called Huobi Cloud which will allow users to develop crypto exchanges on top of Huobi’s current platform. The group also revealed that they have already gone into partnerships with more than 10 multinational companies.
The US House of Agriculture Committee, chaired by US Texas Representative Michael Conaway, conducted a public hearing on July 18 whose focus was cryptocurrencies. Six eminent witnesses were called in to give testimony, all of whom agreed that cryptocurrencies complicate existing regulatory frameworks.
The new Blockchain startup Nervos Network announced that it raised about $28 million in its Series ‘A’ funding round. According to the company, investors in this round of funding included crypto hedge fund Polychain, venture capital company Sequoia China and various Chinese Blockchain startups like Bixin and imToken.
According to data from Predictions.Global, a website that lets users view Augur predictions without actually downloading the app, the platform showed a massive spike in open interest between Sunday, July 15 and Monday, July 16. Open Interest is a metric that measures how much is being bet on outcomes of real-world events. That number jumped 51% to the first day of the week, to $325,000.
A report was created by analysts who are associated with the Crypto Finance Conference states that the US has been ranked as the most favorable country for ICOs (Initial Coin Offerings). The number two and three spots were taken by Switzerland and Singapore.
Tezos is reportedly interested in developing its platform within its community. Following the release of its beta version, the Tezos Foundation revealed a brand new grant-making process, suggesting that it will hold a formal proposal call come August.