[mkdf_dropcaps type=”normal” color=”” background_color=””]T[/mkdf_dropcaps]hings are heating up in crypto, as quarter 4 is just around the corner. Exchange problems, regulation, predictions – it’s all stirring the pot, leading to an eventual market move to the next trend. Here’s todays action in a nutshell:
US Lawmakers Move Forward On Crypto Task Force Proposal
As part of a new bill, United States Congress will begin to look into new technologies (including crypto), seeking to weed out any crime usage. It’s also mentioned that individuals/entities would be rewarded for providing convicting information on crypto usage in relation to terrorist activity.
Read on CoinDesk
US Judge Sides With CFTC In Fraud Case, Ruling Cryptos Are Commodities
In a recent lawsuit, the involved cryptocurrencies were ruled as commodities, as it related to the case (alleged fraudulent crypto investment scheme). CoinDesk also reports that there was a similar case ruling in March. This may be a breath of fresh air from the regular “Cryptocurrencies are securities” talk, as well as occasional frustrating comments from the SEC.
Tom Lee: Ethereum Will ‘Rally Strongly’ Up To $1,900 By The End Of 2019
Fundstrat Global Advisors co-founder Tom Lee made a bold prediction about ETH today, with a price tag of $1,900 by the end of 2019. Lee has his sights set on a strong bounce back for ETH, based on the current market sentiment that he describes as “overly negative”. Lee points out past ETH price action and results, with regard to related standard deviation.
Swiss-Based Asset Management Firm To Introduce Metals-Backed Cryptocurrency
A company called Tiberius Group AG is reportedly working on a crypto that’s backed by valuable metals, including gold, platinum, tin, and nickel, among others. Tiberius Coin, as it will be called, will derive its value based on the underlying metals.
1Broker Trading Site Seizure By FBI Likely To Affect Sister Site 1Fox
Popular stock and forex trading site 1Broker was seized by the FBI today, with investigation to follow. Claims include willful operation as an unregistered broker/dealer of securities, and wire fraud, to name just two. Sister site 1Fox will likely also be affected in the days to come, as users are already seeing issues with fund withdrawal.