
Market dislocation at the crack of dawn had sent BTC lower, throwing distance away from $9K on most exchanges. Deribit BTC perpetuals printed a -17% slide due to an incorrect index calculation triggering over $25mn in liquidations. The freak drop was immediately reversed with BTC back above $9K while impacted users have been promised to be compensated in full.

Chinese miners may have found a friend in Jiang Yang, former vice-chairman of China Securities Regulatory Commission has pushed Sichuan — where the vast majority of Chinese miners are located during spring/summer — under the spotlight encouraging municipal authorities to figure out how to “attract digital-currency related businesses.” This comes following an “unhelpful for the broader economy” designation during a key annual event by the politburo earlier in the year. Xi’s endorsement clearly giving Jiang a leg up to vouch for them and even legality of ICOs is potentially up for review according to Professor Deng Jianping. The positive sentiment brewing back home has seemingly enticed CZ back to the capital as they allegedly look to open a new office alongside the setup in Shanghai.

American tax payers continue to be targeted by the IRS as they are now advised to keep records of “all transactions” while the tax man looks to tax airdrops and hard forks as well. Elsewhere we have more #RealLifeUseCases. SBI has announced remittances between South-East Asia & Japan will utilize On-Demand Liquidity, formerly known as xRapid i.e. ($XRP -0.6%), France to include bitcoin in the country’s high-school economics curriculum
Quiet day following the Bible’s 11yr anniversary today
- Stellar ($XLM) +7.3% silver lining amongst top ten following successful Protocol 12 upgrade eliminating one percent annual inflationary schedule.
- Koine Money acquires electronic money license (EMI) from UKs Financial Conduct Authority.
May the trend be your friend… Happy Trading!
