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Ripple, NASDAQ & ICE invited by a U.S Congressman for ICO regulation discussion

Priya

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Ripple, NASDAQ & ICE invited by a U.S Congressman for ICO regulation discussion
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During an interview with Axios, Warren Davidson, the U.S Congressman representing the Ohio State announced that he would be inviting the big players in the cryptocurrency industry to discuss the regulation of Initial Coin Offerings [ICO].

The Congressman has reportedly invited around 32 leaders from the cryptocurrency space and otherwise. The key players invited include NASDAQ, Intercontinental Exchange [ICE], Kraken, Ripple, Harbor, CME Group, Circle, Coin Centre and Union Square Ventures.

The meeting will be held on 25th September 2018 at Capitol Hill. The discussion with the biggest industry players ranging from Venture Capital firms to exchange platforms falls around the same time frame as the SEC’s stance on the proposed Bitcoin ETF.

Moreover, the Congressman’s office has been reportedly sharing information regarding their plans with the US Securities and Exchanges Commission. Rep. David will also be introducing a new bill this year.

During an interview in the month of June, the Congressman stated that ICOs need ‘light touch’ regulation. He also spoke about the importance of categorizing cryptocurrency, quoting the example of the Ethereum controversy [SEC declaring it a commodity and not a security].



According to him, the lack of a regulatory framework for ICOs has made the market risky and unsafe. This could lead to a lot of fraudulent ICOs exploring investors. He believes that if all the ICO companies implement Know Your Customer [KYC] policy and Anti Money Laundering policy then there would be a decrease of scammers in the market.

The Congressman further stated that the cryptocurrencies are favored by criminals because it can be easily transferred and it is distributed, there is no requirement of a central clearing house. In addition, the owner of the cryptocurrency cannot be traced. However, cryptocurrency assets are more traceable when compared to cash.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
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Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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