US and Swiss authorities discuss cryptocurrency regulation
A delegation from the US House of Representatives will visit Switzerland to discuss cryptocurrency regulation. Six members of the Financial Services Committee will meet with the Swiss Federal Data Protection and Information Commissioner (FDPIC). The main topics of discussion will be the cryptocurrency Libra planned by Facebook and digital currencies in general.
Members of the US government expressed concern that the Libra Association was registered in Switzerland. Libra project manager David Marcus said the decision was justified by the need for an international hub. In reality, however, the legislation on cryptocurrencies in Switzerland is much clearer and friendlier to the American one.
Coinbase claims that institutional investors make $ 200-400 million a week
Following the acquisition of Xapo, Coinbase CEO Brian Armstrong spoke about institutional investors in crypto space on Twitter. He argued that the adoption of cryptocurrencies among traditional investors is growing. An example in this sense is that institutional investors spend $ 200-400 million a week on Coinbase Custody.
The main problem cited by institutions wishing to invest in Bitcoin and cryptocurrencies is the lack of custody services. The situation is changing, however, as more players in the crypto market have started offering such services.
Bakkt launches Bitcoin futures in September 2019
Bakkt announced on the blog that it will launch the bitcoin futures trading platform in September 2019. The New York State Department of Financial Services (NYSDFS) has approved the creation of a subsidiary to provide cryptocurrency custody services.
Initially, the Bakkt platform was to be launched in August 2018, but has been postponed several times due to problems with regulatory authorities.
Bakkt’s promised Bitcoin contracts have generated a lot of enthusiasm in the crypto market, as expectations are expected to increase BTC demand.
CEO Binance, a joke on Twitter
Changpeng Zhao, Binance CEO, became the subject of jokes on twitter after posting a message about the popularity of Binance Coin (BNB). He claimed he had an “interesting interaction” with a 14-year-old boy, whom CZ claimed he refused to discuss in US dollars, using the BNB as a reference. Zhao concluded that “the next generation will be Crypto Native.”
Many members of the Twitter community laughed at the message, pointing out that it is a subtle attempt to boast about Binance’s native currency.