The top news in the last 24 hours are shown below:
US Securities Regulator Solicits Blockchain Analytics Companies for Data Review
The United States Securities and Exchange Commission (SEC) is seeking sources for blockchain data and its analysis, a statement issued by the agency revealed on Jan. 31. According to the report, the SEC is trying to find businesses able to provide blockchain data to support its risk monitoring and compliance enforcement activity, as well as inform the commission about digital assets. Last month, the agency announced that cryptocurrencies are one of its top examination priorities for the current year.
Crypto Exchange Kraken Raises $100 Million, Acquires London Futures Firm
The cryptocurrency exchange Kraken says it has paid “nine figures” to acquire Crypto Facilities, a British trading firm that specializes in derivatives. The San Francisco company also disclosed in an interview with Fortune that it is on the cusp of completing a $100 million funding round financed by its larger customers. The Crypto Facilities acquisition means Kraken is the first crypto exchange to offer both spot and futures trading in currencies like Bitcoin, Ethereum, and XRP. Kraken declined to share the specific price of the deal.
Official Cryptocurrency Regulatory Updates from Italy, South Korea, and the Philippines
Italy approves changes to its first regulatory framework on the blockchain industry; will continue to the Senate for ratification. South Korea upholds its prohibition on initial coin offerings. The Philippines installs regulations about cryptocurrencies, ICOs and STOs.
Analyst Suggests Nvidia’s Cryptocurrency-Related Revenue Has Been $1.35 Billion More than Reported
It is no secret that the Taiwan-based computer hardware manufacturer Nvidia has profited significantly from increased cryptocurrency mining. Specifically, the last two years increased interest in cryptocurrency mining has precipitated a marked surge in demand for GPUs. However, a recent report is now suggesting that Nvidia may have made even more money from cryptocurrencies than officially stated. This allegation comes from calculations made by an RBC Capital Markets analyst, Mitch Steves.
Venezuela: New Law Makes Bitcoin Trading Soar To All-Time High
The South American country Venezuela set a new record for amounts traded in bitcoin (BTC) last week. It happened as new laws came into place and due to the ongoing political turmoil. The country is not unfamiliar when it comes to cryptocurrencies. A few months ago, they launched their national crypto “Petro” to fight inflation in the country. However, many industry experts argue that Petro is a scam.
Mt. Gox Restitution Process Frozen Due to One Man’s $16B Claim
On Jan. 31, Mt. Gox victims were enraged to hear that the founder of Coinlab, Peter Vessenes, is still causing problems for the former exchange’s rehabilitation process. According to information published by public attorney Daniel Kelman, Coinlab filed a claim for ¥1.7 trillion yen (US$16 billion) which is over and above every claimant’s filing.
Cryptocurrency Independence Under Threat As Regulation Encroaches
For governments, cryptocurrency is becoming too mainstream to ignore and too chaotic to neglect. Across the world, government agencies are targeting crypto investors not only with taxes but mandatory registration and full disclosure rules. This new wave of regulation poses a contradiction in that some of the cryptocurrency’s strongest traits have always been privacy and autonomy.
Venezuela’s New Crypto Rules Enter Into Force
The decree establishing a legal framework for cryptocurrencies in Venezuela has entered into force. It contains 63 articles including rules for the purchase, sale, use, distribution, and exchange of cryptocurrencies and related products. It also mandates a registration system and details audit procedures, penalties for non-compliance, and how mining equipment can be confiscated.
Decentralized Protocols Are Making It Easier Than Ever to Gamble With Cryptocurrency
Americans wagered $140 million on the 2017 Super Bowl, but if sports betting were legal nationwide, that figure would have been closer to $5 billion, it’s believed. Save for a handful of states such as Nevada; sports betting is outlawed in the U.S., though a Supreme Court ruling last year looks set to change that. In the meantime, decentralized protocols are making it easier than ever for cryptocurrency users to bet on a range of events including the Super Bowl.
SEC Solicits Blockchain Analysis Tool to Identify Wallet Owners
While U.S. investors are waiting for a bitcoin ETF to be approved, American financial regulators are looking to make the market more transparent. The Securities and Exchange Commission (SEC) is seeking a service that will identify the owners of wallet addresses for multiple cryptocurrencies.
New Hampshire House Subcommittee Approves Bitcoin for Taxes Bill
During the first week of the new year, two U.S. representatives from New Hampshire, Dennis Acton and Michael Yakubovich, proposed a bill that would allow the state’s residents to pay taxes with cryptocurrencies. Now after some deliberation, New Hampshire’s House Subcommittee unanimously approved the state’s bitcoin for taxes bill.