#CryptoCorner: #BTC Back Over $4000 After Brief Market Rally, Japan's FSA Says No to Futures but Considering ETFs, Coinfloor to Take On Physically Delivered Bitcoin Futures in Asia and Colorado Senate Considers a Bill Exempting Crypto from Some Regulation
January 7th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - January 7, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: #BTC Back Over $4000 After Brief Market Rally, Japan's FSA Says No to Futures but Considering #ETFs
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BTC Back Over $4000 After Brief Market Rally, Japan's FSA Says No to Futures but Considering ETFs, Coinfloor to Take On Physically Delivered Bitcoin Futures in Asia and Colorado Senate Considers a Bill Exempting Crypto from Some Regulation
Though remaining fairly stagnant throughout the weekend, the crypto market experienced a small rally on Sunday night, bringing total market capitalization to 136 billion USD, according to data from CoinMarketCap. Much of the market is seeing green with Bitcoin (BTC) breaking through the $4000 barrier and trading for $4028 at press time. It is trailed, as usual, by Ether (ETH) and XRP which currently trade for $153 and $0.37, respectively.
Japan's Financial Services Agency (FSA), the country's financial watchdog, is considering the approval of crypto ETFs, according to a report from Bloomberg. The consideration of ETFs follows the FSA's decision not to support crypto futures trading.
Elsewhere, Bloomberg reports that CoinfloorEX, a unit of UK crypto exchange Coinfloor, will take on physically delivered bitcoin futures trading in Asian markets. The platform will now be called Coin Futures and Lending Exchange, or CoinFLEX, and will be run by Coinfloor co-founder Mark Lamb. Lamb said:
"Crypto derivatives could become an order of magnitude larger than spot markets and the main thing that's holding back that growth is the lack of physical delivery. Volumes are reduced because of a problem of trust when it comes to cash-settled trades."
Recently released documents reveal a bill being considered by Colorado's senate that would see an exemption for cryptocurrencies from certain securities laws. An excerpt from the bill summary explains how easing some of the barriers on companies in the crypto space can help them promote jobs and growth in the local economy:
"...CREATING A COLORADO DIGITAL TOKEN ACT,WITH LIMITATIONS TO PROTECT CONSUMERS, WILL ENABLE COLORADO BUSINESSES THAT USE CRYPTOECONOMIC SYSTEMS TO OBTAIN GROWTH CAPITAL TO HELP GROW AND EXPAND THEIR BUSINESSES, THEREBY PROMOTING THE FORMATION AND GROWTH OF LOCAL COMPANIES AND THE ACCOMPANYING JOB CREATION AND HELPING MAKE COLORADO A HUB FOR COMPANIES THAT ARE BUILDING NEW FORMS OF DECENTRALIZED "WEB 3.0" PLATFORMS AND APPLICATIONS."
Sam Mowers, Investorideas
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Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange. You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
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