The most important news of the cryptoindustry
1. Binance new partnership
On January 31, Binance announced a collaboration with Simplex. Thanks to this collaboration users will be able to make deposits with Visa and MasterCard credit cards.
Moreover, Binance has the ability to process up to 1.4 million orders per second, which makes it not only the largest cryptocurrency trading platform in the world but also the fastest.
Changpeng Zhao, CEO of Binance, also noticed that the most of money in the world is in fiat. Therefore, it is necessary to create new payment gateways to expand the area of influence of cryptocurrency and attract new customers.
2. John McAfee escaped from the USA because of charging with tax fraud
John McAfee, founder of MGT Capital Investments and the US presidential candidate, fled from the United States on January 22. At the moment, he is on his yacht, which probably goes to neutral waters near Venezuela. “I have not filed a tax return for 8 years” — McAfee stressed. The Tennessee court charged him with “using cryptocurrencies for criminal purposes.”
3. Trump Ended U.S. Government Shutdown
On January 25, Donald Trump signed a temporary funding package, thus the governmental institutions will be open for three weeks. On January 27, Securities and Exchange Commission (SEC) highlighted that they will deal with transactional and disclosure filings as well as shareholder proposals.
The SEC will prioritize filings, submissions, and requests by the reception date, however, it will response longer than usual.
Due to these facts, the appearance of the crypto industry on Wall Street may be postponed. Previously, the SEC has already delayed various Bitcoin ETF applications several times. Now, this situation is complicated by the shutdown. Therefore, crypto adoption may take even longer.
4. South Korea will continue to ban ICOs
The Financial Services Commission (FSC) confirmed that South Korea will continue to ban initial coins offerings (ICOs). This statement was made in a press release on January, 30.
The FSC revealed the results of a survey, which had shown that ICOs still raising funds from South Koreans. However, ICOs tend to fall under another jurisdiction.
South Korea banned ICOs back in September 2017, referring to high risks of manipulation and instability.
5. United Nations: Cryptocurrencies is a “New Frontier” in Digital Finance
The UN report “Frontier technologies for sustainable development” states that significantly reduce the level of bureaucracy and create new, more efficient business models.
“The innovativeness of this system lies in the way in which the various parts combine to create the trust and guarantees that the traditional financial system derives from institutions and regulation. The incentives align the interest of participants towards contributing to the system’s security. In contrast, the traditional system relies on a complex armature of reporting, oversight and implicit or explicit guarantees, ultimately backed by the reputation of the central authority. As such, the blockchain technology presents the possibility — a first in the field of finance! — that trust in institutions backed by government can be replaced by trust in computer code.” — stresses the report.
Moreover, this document mentions already existing examples of blockchain technologies use of in various spheres of human life.
