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 and Delta, BC - April 26, 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: 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
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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
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