Home Crypto Daily Recap Daily Crypto Roundup 10/10/2018

Daily Crypto Roundup 10/10/2018

The crypto markets continue to move along, with government interest, institutional interest, development, and of course a little SEC action thrown in. Here is today’s action:

India evaluating creation of government-backed cryptocurrency

India is yet another country looking into building its own backed cryptocurrency, according to a review panel in India by India’s finance ministry. “We are evaluating the government-backed cryptocurrency and crypto-token,”…“ and we are looking to develop and encourage our own research and development of blockchain technology”, explained one of the government officials. Oddly enough, there is also talk of banning cryptocurrency use, outside of the potential government-approved options.

Latin America is also seeing significant government interest in the cryptocurrency as well.

Read on Crypto Insider

Crypto Hedge Fund Launches Are Soaring To Record Levels This Year

It’s no surprise that 2018 has been mostly a bear market. The surprising part is that institutional interest continues to grow in spite of negativity. CoinDesk states: “According to a new report from Crypto Fund Research, 90 crypto hedge funds launched in the first three quarters of this year, and the total is expected to reach as high as 120 for the financial year”. This expected 120 hedge funds equal 20% of the general total of 600 hedge funds that will have launched this year (expectedly), showing significant mainstream interest.

Read on CoinDesk

SEC Asks Court To Enforce Subpoena In ICO Inquiry

More criminal allegations today as the Securities and Exchange Commission (SEC) looks to carry out a subpoena, looking into pump and dump activity in reference to the Initial Coin Offering (ICO) markets.

The subpoena involves Jeffre James (Saint James Holding and Investment Company Trust Trustee), and his dealings with SJTCoin, which was accused used to pump the stock price of affiliated penny-stock company Cherubim. The company is also being accused of possibly dumping their stock after the pump.

Read on CoinDesk

Crypto Assets Pose No Risks To Financial Stability, International Bankers Claim

Positive news came today, via claims that there are no substantial dangers in crypto. Claims were made by an international agency called the FSB, which is composed of 68 institutions including of ministries of finance, central banks, and the like.

However, the FSB did mention that there are several risks in crypto: “Illiquidity, concentrated ownership, fragmented market structure, and other issues also make crypto assets potentially susceptible to price manipulation”.

Read on CoinTelegraph

Blockstream’s Liquid Sidechain Solution For Bitcoin Network Goes Live

Blockstream’s Samson Mow announced today that Blockstream’s sidechain “Liquid Network” for Bitcoin launched on September 27, as part of Bitcoin’s continued path toward scalability and mainstream application. Bitfinex, OKCoin, and Bitmex were among the first 23 crypto entities to use the new technology on September 27.

Sidechains are important for Bitcoin to see greater mainstream use. Last December, Bitcoin’s network became so congested that it was nearly unusable, with fees of $28 per transaction, as well as slow transactions.

Read on CoinTelegraph 

The above is to be considered opinion and not investment advice in any way, as an unbiased media, no one interferes with the Editorial content of CryptoInsider.com, writers have freedom to choose their own direction, members of Crypto Insider do not participate in trades based on content.

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Benjamin Pirus
Benjamin Pirus
BJ is a full time writer, editor, and trader in the cryptocurrency space. He has written many professional articles for numerous ICOs, news sites, and other interested parties in the crypto space. He is also a trader, staying up to date with the crypto markets constantly, and dabbling in traditional financial market trading occasionally.


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