August in crypto shows that the ecosystem continues its development

August showed that the crypto industry means more than Bitcoin. Although the price of cryptocurrency fell below the $ 10,000 threshold, the network hash rate reached a record high of 83.5 EH / s.

There have also been a number of positive developments for the ecosystem as a whole. The highly anticipated Bakkt platform has announced the official launch date for liquidated Bitcoin futures contacts and its custody service.

August in crypto – Regulation

The Swiss regulatory authorities have started granting banking licenses for several companies specialized in cryptocurrencies. SEBA Crypto AG, Sygnum AG, BitcoinSuisse and Aximetria are just a few of the companies that provide banking and cryptocurrencies on a regular basis.

Both Switzerland and Germany have decided to impose strict AML regulations for those offering services associated with cryptocurrencies. In part, this evolution is a reaction to Facebook’s Libra project. It forced the authorities to realize that the crypto market will be out of their control if they do not take action.

Although viewed with suspicion by governments and the crypto community, the Libra project continues to evolve. This month the bounty program was launched for the code that will underpin the cryptocurrency. It allows specialists to check the software that will be the basis of the network, being rewarded for identifying vulnerabilities.

Cryptocurrency stable at high search

The idea of ​​stable cryptocurrency with widespread use is very attractive, but Libra will not be available in some jurisdictions. The world’s largest crypto exchange, Binance, has announced that it intends to launch “Venus”, “an independent regional version of Libra”. The announcement posted on the company’s website details the open source project based on Binance Chain.

The basic idea is to create stable cryptocurrencies based on local fiat currencies. These can be used even in jurisdictions where Libra will not be available.

Also, Binace has launched a number of new services for its users – margin trading and crypto-lending.

In Romania

It is obvious that the demand for the services associated with cryptocurrencies increases with their popularity. Companies are willing to pay more attention and participate in the development of the entire ecosystem.

In Romania, the month of August in crypto brings Deal Your Crypto, a new web application meant to offer another purpose to digital currencies. In September, one of the largest Bitcoin mining farms in southeastern Europe is launched.