Crypto Daily Briefing – 07 March 2018

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Happy Humpday! The volume of information that has come out over the past 24 hours is mindblowing.

The biggest developments are Bitcoin exchange Coinbase launches the Dow Jones of Cryptocurrencies (Index Fund). Of course to the disappointment of many, they will not be adding Ripple to the mix or listing them on the exchange. Equally as big, Grayscale is looking to expand Crypto fund offering: Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and Ripple (XRP).

The world’s ultra-rich are investing more in Cryptocurrencies–even if they may not understand them. They are not the only ones who don’t understand, U.S. Marshals Service will auction 2170 Bitcoin worth $25 Million; didn’t they learn the last time when they auctioned off 30,000 to Tim Draper? Guess not.

On the Regulatory front, looks like Illinois will join the game by allowing its residents to use Bitcoin to pay taxes. The SEC Chair says “We are Watching” as companies Launch ICOs. As a sigh of relief, a US Federal judge said Bitcoin and Cryptocurrencies are commodities; if not it would have spelled bad news for the Futures market. Even Republicans are pushing for Crypto Regulation.

These moves by Coinbase and Grayscale are part of the efforts to get an official Bitcoin ETF listed; I still believe we will see that happen in 2018. It’s clear that all around the world Blockchain and Cryptocurrency is being quickly adopted. Sweden Government land registry soon to conduct first Blockchain property transaction, Russia‘s president Vladimir Putin signals obligatory Cryptocurrency regulation will begin July 1Marshall Islands to issue world’s first legal tender Crypto, Blockchain is booming in Liechtenstein, the sixth smallest country in the world, China is back on the Crypto bandwagon by saying its digital currency should be Crypto-inspired, Lithuania’s central bank to release digital numismatic coin later this year, and South Korean bank sends notice to all Bitcoin virtual account holders.  

If you have time and the attention to read more click HERE for all the articles from the past 24 hours.

WARNINGS. As many of you are aware BitConnect have been proven to be pretty much a scam/ponzi scheme type organization. Please do not fall for their second attempt “BitConnectX ICO” to create yet another scammy type operation. The following organization (USI-Tech, WCI, and BitClub) still should be handled with caution. Engage at your own risk!

Happy Investing and Trading!

BONUS: Will Warren of 0x on Why Decentralized Exchanges Are the Future