IGT weekly market digest 📯

The most memorable events of the past week.

In the main bitcoin network, the # 540107 block which size is 2.259 MB was mined — is the largest in the history of crypto currency.

Bitcoin (BTC) is being squeezed into a tight trading range with neither bulls nor bears having the upper hand, and a decisive move either way will likely set the tone for the next trend going forward.

Members of the European Parliament held a meeting to discuss a proposal that, if approved, would create new regulations on initial coin offerings (ICOs) held within the economic bloc.

The All-Party Innovation Group within the EU Parliament met to examine the potential benefits and issues with rules for ICOs that would form part of a wider crowdfunding framework.

The proposal was written by Ashley Fox, a Member of the European Parliament (MEP). Fox called for an 8 million euro cap on token sale proceeds as well as KYC/AML requirements.

Perhaps more significantly, if the regulations are adopted by the European Parliament, it could create a standard for token sales, allowing projects to raise funds and conduct business in any of the 28 member-nations.

Paris Saint-Germain (PSG), a major French soccer team in the country’s top league, is planning to issue its own cryptocurrency as a way to incentivize participation from its fans around the world.

PSG is now eyeing a deadline of spring 2019 to start issuing its proprietary tokens, making it potentially one of the first soccer clubs anywhere to do so.

Rather than a monetary role for PSG’s coin however, the goal is to allow fans who hold the token to be able to vote for and decide on less strategic matters, such as team jersey choices or opponents in friendly matches

Token ownership will further give fans access to more exclusive offers such as meeting with players or participating in certain matches.

Hospitality mogul, Tilman Fertitta, is proud to announce his luxury automobile retailer Post Oak Motor Cars is the first Rolls-Royce, Bentley and Bugatti dealership in America to accept bitcoin and bitcoin cash for payments.

Luxury car buyers are now able to purchase Post Oak Motors’ luxury carriages from anywhere in the world via the bitcoin processor BitPay.

“The rising of bitcoin sparked my interest,” said Tilman Fertitta, owner of Post Oak Motors. “Being a premier luxury car dealer, I always want to offer my customers the very best buying experience and this partnership will allow anyone around the world to purchase our vehicles faster and easier.”

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