Here are the major events happening in the crypto-verse, the news you should be aware of: price action, India and South Korea reverse the crypto ban, Bitcoin Cash hard fork update, Binance downtime problems and much more.Read on to find the latest and don’t lose track of this ultra fast-moving industry.
BTC, ETH price action
Bitcoin depreciated further this week, falling to $8,300 from the $8,500 it started the week at.There were some gains during midweek (a high of $9,160) but it wasn’t sustained.
ETH suffered the same fate- started the week at $215, ended at $213 with a high of $245 during the week.
Hang in there HODLers.
India reverses Bitcoin ban
Remember that the Reserve Bank of India placed on crypto trading on April 6, 2018? The Supreme court of India reversed it last week, saying that circular the RBI issued was unconstitutional.
It was a big win for the crypto industry.There are 1.3 billion people in India.
Bitcoin Cash hard fork update
It looks like Bitcoin cash won’t be going through a hard fork anymore.
The mining tax proposal seems to have lost a huge chunk of its critical supporters.
Even Jiang Zhuoer, CEO of BTC.TOP and the original proposer of the tax law, has turned on his own idea.
It’s a funny world.
Facebook’s shifting Libra plan?
There are reports that Facebook is modifying its Libra operation after its initial plan hit a brick wall.
They now want the network to accept multiple coins, including those issued by central banks like the Dollar and Euro so that they can win the heart of regulators.
Good luck with that.
Germany and France embrace BTC
Bitcoin and other cryptocurrencies have been officially named as a legal tender by German authorities.
Germany’s Federal Financial Supervisory Authority (BaFin) also announced a deadline of March 30, 2020, for all crypto companies currently offering custodial services without a license, to make moves to get one.
French authorities also officially recognized Bitcoin as a legal tender.
New HTC 5G router can host a full Bitcoin node
Last week, HTC launched the Exodus 5G Hub, a router that can connect to 5G networks and also has support for cryptocurrencies .
You can use it to download and store the Bitcoin blockchain, making it easy to verify transactions by yourself.It also has a ‘private vault’ which acts as a crypto wallet.
Binance suffers more downtime
Binance suffered some downtime due to a ‘system issue’ last week, and it angered some people.
An exchange having downtime isn’t new in the crypto-verse but Binance’s outages seem to be getting frequent.
South Korea unbans crypto trading
The South Korean government last week unbanned crypto trading and passed the Special Financial Information Law , which requires local exchanges to comply with FATF guidelines when trading cryptocurrencies.The new law is aimed at protecting crypto traders from hacks and fraudsters.
South Korea banned crypto exchanges in 2018 because its citizens were caught in the crypto frenzy and things were spinning out of control, with Bitcoin going for $1,000 over the normal price everywhere else.
Ethereum bug causes $25,000 loss
Ethereum Name Service, a smart contract that makes addresses readable, recently migrated to a newer smart contract.During this migration, there was a bug that allowed people who’ve sold a name to regain access to that name.
Bad business.
It cost the team $25,000 to fix the grave error.
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