Cryptocurrencies opened the week on a strong note as they surged on news that one of the world’s leading investment firms were exploring cryptocurrencies.
Overall cryptocurrency market capitalization was $266.10 billion as of 10 am ET on Monday.
BlackRock has established a working group to explore investment options in the cryptocurrency market, London’s Financial News reported citing people familiar with the matter.
Meanwhile, the Financial Stability Board said in a report that the Basel Committee, which sets global banking standards, is probing banks’ exposure to crypto assets.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past few hours.
BlackRock Explores Bitcoin: Report
BlackRock, a world leading investment firm managing $6.3 trillion assets, has established a working group to explore its options in the fast growing cryptocurrency market. That is in contrast to the earlier stance of its chief executive who shunned cryptocurrencies including Bitcoin.
Hong Kong Monetary Authority To Launch Blockchain-based Trade Finance
Hong Kong’s de facto central bank is set to launch a blockchain-backed trade finance platform that will link with 21 banks, the Financial Times reported. The Hong Kong Monetary Authority’s blockchain platform was designed by OneConnect, a subsidiary of China’s financial services group, Ping An. Read more…
Texas Regulator Issues Cease-and-Desist Order To Three Crypto Firms
The Texas State Securities Board (TSSB) issued an emergency cease-and-desist order against the promoters of three crypto-mining investment companies. The Utah-based companies are controlled by Lehi, Utah-based Darren Olayan. The order alleges widespread violations of the Texas Securities Act by all the entities and individuals. Read more…
Rosenstein’s Revelation Of Bitcoin Funding In Russian Hacking Sparks Firestorm
U.S. deputy attorney general Rod Rosenstein’s revelation that 12 Russian military intelligence agents used bitcoin to fund hacking efforts targeting Democratic Party presidential candidate Hillary Clinton in 2016 has sparked firestorm on social media and in US political circles. Read more…
Spain’s Banco Santander To Use Blockchain For Capital Markets Business
Spanish banking group Banco Santander plans to use blockchain and other new technologies within its capital markets business to change how securities are issued, traded, and settled. The bank will explore the use of tokenized securities in debt capital markets, derivatives, and other products. Read more…
As of 9.58 am ET, Bitcoin was up 3.69 percent at $6,585.01 and Ethereum was higher by 5.57 percent at $470.49 on Coinbase.
Read more at: RTT News