The rundown: Bitcoin and all major currencies were down in the morning; Singapore-based community cryptocurrency exchange Cryptology Exchange introduces cryptocurrency margin trading; Bank of Thailand Governor Veerathai Santiprabhob says digital currency isn’t going to replace cash in Thailand within the next 3-5 years; Indian crypto exchange WazirX CEO Nischal Shetty is asking the government to regulate Bitcoin and other digital currencies; Autodesk CEO believes that blockchain can stem corruption in the construction industry; Humans.net launches a blockchain-powered global peer-to-peer freelance network; and more.
Here is what is happening in the cryptocurrency market on Tuesday.
SEE: World’s First Cryptocurrency Exchange Traded Product to Launch in Switzerland
SEE: Thai Securities And Exchange Commission (SEC) Issues Multiple Warnings Against Unapproved Regulators
In the News
Singapore-based community cryptocurrency exchange Cryptology Exchange has launched a new functionality that allows users to trade cryptocurrency on margin. The exchange says that users can now margin trade BTC/EUR and ETH/EUR, with leverage of up to 5 and 10 times.
Bank of Thailand Governor Veerathai Santiprabhob says that digital currency isn’t going to replace cash in Thailand within the next 3-5 years. Talking with the Thai News Agency, Santiprabhob says it will take three to five years to move to digital currencies “because of the complication, and readiness of people and an efficiency of technology.”
Indian crypto exchange WazirX CEO Nischal Shetty is asking the government to regulate Bitcoin and similar digital currencies. Shetty requested finance minister Arun Jaitley to focus on the benefits offered by cryptocurrency fearing its misuses. India isn’t a crypto-friendly state. The Reserve Bank of India doesn’t give local cryptocurrency companies access to banking services.
Andrew Anagnost, the CEO of design software maker Autodesk, believes that blockchain has the ability to stem corruption in the construction industry, and reduce the lack of trust between players in the sector,” reports the Australian Financial Review. Anagnost talked about blockchain when answering questions about why Autodesk had not yet considered blockchain as part of the future of its architecture, engineering and construction software suite at the 2018 Autodesk University event in Las Vegas.
IBM (NYSE: IBM) and Columbia University are teaming up for two new accelerator programs to build and scale the next generation of blockchain innovation, the company and Ivy League university said in a joint press statement. The accelerators, as key components of the Columbia-IBM Center for Blockchain and Data Transparency, will allow entrepreneurs and blockchain network founders to establish blockchain networks.
Humans.net has launched a global peer-to-peer freelance network powered by artificial intelligence and blockchain. The freelancing platform is designed to solve a “misapplication and inefficiency” in online search industry “by merging blockchain technology with AI in a decentralized peer-to-peer network to create a platform that will serve people and help them connect on the basis of trust,” the company said in a press statement.
Cryptocurrency Prices Today (As of 7:14 AM EST)
Bitcoin (BTC) is down 14.88% over the past 24 hours, trading at $4,485.39.
Ethereum (ETH) is trading at $134.26 in the morning, down 13.77% over a 24-hour period.
Bitcoin Cash (BCH) is trading at $288, up 8.3% over the past 24 hours.
Ripple (XRP) is trading at $0.4528, down 6.60% over a 24-hour period.
Litecoin (LTC) is trading at $32.59, down 14.26% over a 24-hour period.
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