27/07/2018: Biggest Stories in the Cryptosphere

BlockEx
BlockEx
Jul 27, 2018 · 3 min read

by BlockEx

1. Bank Of Canada Admits Central Bank Cryptocurrency Could Bring Advantages

Bank of Canada researcher S. Mohammad R. Davoodalhosseini admitted that a central bank digital currency (CBDC) could be advantageous for the economies of Canada and the US. Consumption could rise by up to 0.64% in Canada and up to 1.6% in the US, if compared to a scenario where only cash is used. The findings from the report are based on the assumption that implementation won’t be too costly. However, many central banks are still wondering if digital currencies should exist at all, or how to ensure the best monetary policy. In regards to the latter, it was also speculated that the introduction of CBDCs could enable to adjust current monetary policy in a more flexible manner.

2. SEC Commissioner Disagrees With SEC’s Decision Over Winklevoss’ ETF

The Winklevoss brothers wanted to bring the first Bitcoin ETF to a regulated U.S. exchange. However, the project was rejected by the SEC. The decision was contested not only by people from the public but even by members of the SEC itself. SEC Commissioner Hester M. Peirce wrote a formal dissent which was published on the official website. In the document, she discussed her disagreement with the decision as well as how the decision “exceeded the limited scope of the agency’s role in regulating securities markets”. She backed her claim by saying that the independent agency should ensure that investors have the right instruments to make independent decisions rather than evaluating the product themselves.

3. Google Bans Crypto Mining Apps But Not Those That Manage Mining Hardware

It has been reported that Google has banned cryptocurrency mining apps from the Play Store. However, apps managing mining hardware have been saved from the restriction. The rule was added to the Google’s Developer Policy Center. The news comes following a removal of cryptocurrency mining extensions from the Chrome Web Store. Apple has also adopted a similar stance in its developer policies. Although, “other crypto-apps, like those created by approved exchanges and registered initial coin offerings (ICOs)” are still permitted.

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