Cryptocurrency Daily Roundup – Jul. 5

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Cryptocurrencies are trending downwards Thursday morning after Bitcoin, the leading one, lost ground as it chased $7,000.

Overall cryptocurrency market capitalization was $271.26 billion as of 10.17 am ET on CoinMarketCap.

Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.

European Parliament Advises Regulators Not To Ban Cryptocurrencies

The European Parliament has advised policymakers and regulators not to ignore cryptocurrencies or attempt to ban them. It should be treated by regulators as any other financial instrument, proportionally to their market importance, complexity, and associated risks, a recent report published by the legislative arm of the European Union says. Read more…

Five Nation Joint Task Force To Tackle Crypto-funded Cybercrimes

Tax enforcement authorities of five nations have established a joint operational alliance to fight international tax crime and money laundering, including cybercrimes facilitated through cryptocurrencies. The Joint Chiefs of Global Tax Enforcement, known as “the J5,” is comprised of tax enforcement agencies from the U.K., Australia, Canada, the Netherlands, and the United States. Read more…

Thailand’s ASCO Plans Joint Crypto Exchange, To Apply For License

Thailand-based securities companies are planning to establish a joint cryptocurrency exchange, aiming to reduce costs and share technologies, according to local news outlet Bangkok Post. The Association of Securities Companies or ASCO, the collective body of Thailand’s securities firms, also plans to apply together for a crypto exchange operating license with the Thai Securities and Exchange Commission. Read more…

Philippines To Initially License Up To 25 Crypto Exchanges

Philippines government plans to grant license to up to 25 cryptocurrency exchanges for operations in a special economic zone. In a statement, the government-owned Cagayan Economic Zone Authority or CEZA said it will initially limit the number of licenses by 25 principal licenses. Each exchange will only have sub-licenses of as many as 20 to 30 traders or brokers. Read more…

Coinbase Launches Crypto Custody Service For Institutional Clients

The US-based crypto exchange Coinbase has launched a new cryptocurrency custody service for institutional investors called Coinbase Custody. It provides secure storage of crypto assets for institutions in both the US and Europe. The first deposit was accepted last week. Read more…

Blockchain Could Solve Some Most Critical Problems Of Refugees: WEF

Blockchain has the potential to help millions of refugees by solving some of their most critical problems, according to an article published by the World Economic Forum. Ahmas Sufian Bayram, who wrote the article for the WEF, noted that blockchain, the decentralized, distributed and public digital ledger technology, could tackle refugee issues regarding documents, hunger and work. Read more…

Current Prices

As of 10.19 am ET on Thursday, Bitcoin was down 1.8 percent at $6,583.01 and Ethereum was lower by 1.6 percent at $467.39 on Coinbase.

Read more at:  RTT News

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