Top Cryptocurrency stories in 2018
Following an intense 2017 with cryptocurrency market spikes, year 2018 is the year with great majority of digital assets plunged well over 80 percent in value since their all-time highs. Year 2018 is also filled with many headlines about the regulations of digital currency.
Below are the top stories for the cryptocurrency market as were published on www.onestopbrokers.com.
1. Ethereum rises above $1,000 for the first time.
The beginning of 2018 found Ethereum soaring to new records with prices rose above $1,000 per unit.
2. Bitcoin falls as one of the world’s biggest cryptocurrency markets readies a bill to ban trading.
Bitcoin tumbled more than 12 percent early in January 2018 following a bill issued by South Korea, one of the biggest markets for major coins like bitcoin and ethereum, saying that is being prepared to ban all cryptocurrency trading in the country.
3. 80 percent of the total Bitcoin supply have now been mined.
The second week of January 2018 marked a milestone for bitcoin as 80 percent of the currency was now been mined into circulation. On January 13, 2018, 16,800,000 BTC have been mined and there’s only 20 percent left for miners to acquire.
4. Bitcoin crashes below $10,000.
January 2018 was the month that marked the lost of over half of Bitcoin’s value. Bitcoin price dropped below $10,000 since it smashed the $20,000 barrier in mid-December of 2017.
5. The first country in the world to recognize a cryptocurrency as legal tender.
The Marshall Islands is creating its own digital currency in a bid to raise money. In doing so it becomes the first country in the world to recognize a cryptocurrency as legal tender.
6. India pulls the plug on Cryptos.
The Reserve Bank of India (RBI) has initiated a crackdown on cryptocurrencies such as bitcoin, even as it considers a proposal for issuing its own digital currency.
7. Cyprus regulator released a statement of new rules governing derivatives on virtual currencies.
Further to the European Securities and Markets Authority’s (ESMA) decision, the Cyprus Securities and Exchange Commission (CySEC) announced that depending on their specific characteristics and use, providing investment services in relation to derivatives on virtual currencies will require specific authorisation by CySEC.
8. Thailand introduces virtual currency trading tax rules.
Thai lawmakers agreed that virtual currency trading on regulated exchanges should be exempt from value-added tax.
9. Scotland has a rehab clinic for people addicted to cryptocurrency trading.
Scotland-based Castle Craig Hospital expanded its rehab services to cover cryptocurrency addiction. The starting price for this treatment? Read more HERE
10. Bitcoin dropped below $6,000 as almost every Cryptocurrency tumbled.
While cryptocurrencies rallied in July 2018, August marked the drop of Bitcoin price below $6,000.
11. The EU is taking another look at regulating crypto.
Regulators around the globe are racing to police one of the biggest investment manias in recent memory, ranging from a massive crackdown in China to an exchange-licensing regime in Japan. In Europe, wild price swings on virtual-currency markets have sparked warnings from authorities, who pointed out that current EU laws don’t offer any protection to investors. The European Commission, the EU’s executive arm, has pledged to monitor developments and determine the need for further action together with other agencies.
12. Spotware launches cXchange Cryptocurrency Exchange solution.
Spotware, an award-winning financial technology provider and a developer of popular cTrader trading platform, has launched cXchange, a cryptocurrency exchange solution that allows anyone to start their own exchange.
13. France introduces new ICO framework to become Europe’s ICO hub.
France has taken the lead and introduced its own regulatory framework for ICOs. The framework will allow French financial authorities to approve and issue permits to companies wanting to use ICOs as a method of raising capital.
14. Money-laundering watchdog to set first cryptocurrency rules.
The Paris-based Financial Action Task Force (FATF) said that will set up its first rules on oversight of cryptocurrencies by June. This a major step towards creating international standards for an asset currently subject to patchy regulations.
In Europe, several countries including France, Switzerland and Malta are looking at early-stage supervision by regulating initial coin offerings.
15. Bitcoin turns 10 — how it went from an abstract idea to a $100 billion market in a decade.
On Oct. 31, 2008, bitcoin was born — and in the past 10 years it has evolved from an anti-establishment hobby among coders to a household name on Wall Street.