At the time of writing, the Bitcoin price is sitting at $8,969 representing a gain of 7% in the last 24 hours. More than $1.1 B worth of BTC were exchanged in the BTC/USD market representing a 24% share of the global daily volume. The BTC/JPY pair represents a 50% share.
The Ethereum price has risen 9.83% over the past 24 hours and is currently sitting at $572, with over $300M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 32% market share of the daily trading volume.
Court Orders Telegram to Hand Encryption Keys to Russia
Supreme Court Judge Alla Nazarova today rejected an appeal filed by Telegram, objecting to Russia’s Federal Security Services (FSB) obtaining the encryption keys to its platform. As a result, Telegram will be legally obligated to grant security forces access to the private messages and other data of its users, unless it can convince an appellate court to reverse the decision. Shortly after the ruling was made public, Telegram CEO Pavel Durov had this to say:
“Threats to block Telegram unless it gives up private data of its users won’t bear fruit. Telegram will stand for freedom and privacy.”
Read more here
G20 Calls for Cryptocurrency Regulation by July 2018
The world’s economic leaders have set July as a deadline for the first step toward unified regulation of cryptocurrency. Yesterday, speaking after the G20 meeting of finance ministers in Buenos Aires, Argentina Central Bank chair Frederico Sturzenegger said the member nations present agreed that cryptocurrencies needed to be examined, but that more information was needed before any regulations could be proposed. However, during the press conference, he noted that the members had a firm deadline in July for recommendations, stating:
“In July we have to offer very concrete, very specific recommendations on, not ‘what do we regulate?’ but ‘what is the data we need?'”
Bittrex Shuts Out U.S Customers
After announcing the delisting of some coins, Bittrex updated its terms of service which essentially prohibited any “citizen or resident of any state, country, territory or other jurisdiction that is embargoed by the United States” from transacting on the exchange. The embargoed countries include Cuba, the Crimean region, Iran, North Korea and Syria.
It is possible the exchange’s actions were influenced by the SEC. Prior to the delisting announcement, the United States Securities and Exchange Commission (SEC) had announced that any “Online trading platform that offers trading of digital assets that are securities must register with the SEC as a national securities exchange or be exempt from regulation.” However, Bittrex responded to SEC’s announcement stating:
“Bittrex is committed to incubating new blockchain technology projects and offering innovative, compliant digital tokens to our customers. Bittrex uses a robust digital token review process to ensure the tokens are listed on the exchange are compliant with U.S law and are not considered securities.”