#CryptoCorner: Market Going Into Weekend Red, Indian Gov’t Considers Ban On All Cryptos, SBI Holdings (TYO:8473) CEO Named Executive of Ripple Labs and Circle’s SeedInvest Approved for ATS by FINRA
#CryptoCorner: Market Going Into Weekend Red, Indian Gov’t
Considers Ban On All Cryptos, SBI Holdings (TYO:8473)
CEO
Named Executive of Ripple Labs and Circle’s SeedInvest Approved for ATS by
FINRA
Point Roberts WA, Delta BC, April 26, 2019
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April
26
Crypto Corner
Stocks discussed: (TYO:8473)
As we enter another
weekend the crypto market is looking quite red, with the majority of the top
100 coins listed by market cap having fallen in the past 24 hours, according to
data from CoinMarketCap.
Total market capitalization is sitting at just below $171 billion USD at press
time. Bitcoin (BTC), which had been trading around $5500, and
even higher, for much of the past week, has slipped down to a current price of
$5289. It is followed, as usual, by Ether (ETH) and XRP, which are trading for $155 and $0.29,
respectively.
The Economic Times reports that the Indian
government is considering a draft bill that would ban “sale, purchase and
issuance of all types of cryptocurrency” in the country. The bill is being
discussed by an inter-ministerial panel, with support for the ban by the
country’s Department of Economic Affairs (DEA), Central Board of Direct Taxes
(CBDT), Central Board of Indirect Taxes and Customs (CBIC) and the Investor
Education and Protection Fund Authority (IEPFA).
According to a
report from Cointelegraph, Yoshitaka Kitao, CEO of
Japanese finance giant SBI Holdings, Inc. (TYO:8473), has been appointed as an executive
of Ripple Labs, Inc. SBI Holdings has an existing partnership with Ripple,
through their “SBI Ripple Asia” project, aimed at pushing the use of XRP in
Asian markets. SBI’s announcement of the news indicates that Kitao’s
appointment aims to “further
promote blockchain and digital asset utilization at financial institutions in
Japan and Asia, and strive to develop financial services with high customer
benefit”.
Equity crowdfunding
platform SeedInvest, which was recently acquired by Circle, today announced that it had received approval from
the Financial Industry Regulatory Authority (FINRA) to operate an Alternative
Trading System (ATS). The press release indicates that this milestone will
allow SeedInvest to “allow investors to trade their startup shares on the
secondary market post initial investment” once the platform is launched. Ryan
Feit, Co-Founder of
SeedInvest, said:
"Liquidity remains a key missing piece towards
democratizing the private capital markets. Creating a truly vibrant secondary
market for private company shares has the potential to make startup investing a
significantly more attractive asset class."
Sam
Mowers, Investorideas
Read other editions of the Crypto Corner
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