At the time of writing, the Bitcoin price is sitting at $7,921 representing a loss of 5.98% in the last 24 hours. More than $1.2 B worth of BTC were exchanged in the BTC/USD market representing a 26.9% share of the global daily volume. The BTC/JPY pair represents a 47.1% share.
The Ethereum price has dropped 10.25% over the past 24 hours and is currently sitting at $463, with over $450M worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 36.64% market share of the daily trading volume.
SEC Reiterates Wish to Police ICOs Like Stocks and Securities
US financial authorities have once again said that cryptocurrency trading needs to be looked at with the same regulatory eye that oversees share trading. The view, from the head of the Securities and Exchange Commission’s trading and markets division, Brett Redfearn, came after he characterised the current cryptocurrency market as resembling the “Wild West”. Last week in New York, Redfearn stated:
“The Securities and Exchange Commission is not sure if all the rules would transfer over. SEC enforcers are very busy looking at recent ICOs.”
Coinbase Announces Support for Ethereum ERC20 Tokens
Yesterday, Coinbase announced its intention to support the Ethereum ERC20 technical standard — meaning more cryptocurrencies will probably be added to the exchange in the future. The announcement reads:
“We’re excited to announce our intention to support the Ethereum ERC20 technical standard for Coinbase in the coming months. We are not announcing support for any specific assets today”
Cboe Urges SEC To Support Bitcoin ETFs
The exchange operator of Cboe Global Markets has said that the U.S. securities regulators should not hinder the development of a Bitcoin ETF (exchange-traded-fund) as they are similar to any other commodity-based ETFs.
The Cboe President, Chris Concannon, wrote a letter to the SEC Director stating that existing ETF frameworks can be easily applied to crypto-assets while mentioning certain questions SEC may have over crypto-assets and their suitability for ETF’s. An excerpt of the letter reads:
“While Cboe shares many of the concerns raised in the Staff Letter, we believe that the vast majority of these concerns can be addressed within the existing framework for commodity-related funds related to valuation, liquidity, custody, arbitrage, and manipulation”
LocalCoinSwap Reaches Soft-cap; 5% of Tokens Left
LocalCoinSwap, a community-owned P2P exchange currently hosting a pre-sale funding campaign, has reached its soft cap goal, and sold out almost every available LCS token during its pre-sale, with only 5% left to go. The LocalCoinSwap project seeks to address some of the most urgent problems with cryptocurrency markets today, such as the centralization of businesses, lack of privacy, safety, asset diversity, and bank independence.
Unlike other P2P exchanges, LocalCoinSwap will distribute 100% of its profits back to LCS token holders. The LCS token can be acquired during the pre-sale or in the upcoming ICO. The main ICO is planned to be launched on April 15th and is aiming to raise $20M in order to help develop and market the platform.