and its peers are in the red Friday morning after they hit the brakes on their strong rally seen over the past few days late Thursday on the news that US financial watchdog denied approval for a Bitcoin exchange-traded-fund backed by the Winklevoss twins.
Crypto enthusiasts had been expecting a go-ahead from the SEC early August.
The SEC rejection hit cryptocurrencies hard with Bitcoin retreating below $8,000 and the overall cryptocurrency market capitalization falling below $300 billion again.
As of 9.39 am ET on Friday, the cryptocurrency market capitalization was $288 billion on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Bitcoin Falls After SEC Rejects Winklevoss-backed Bid For ETF
Bitcoin and other cryptocurrencies suffered after the U.S. Securities and Exchange Commission rejected a second attempt by crypto exchange Gemini, run by Tyler and Cameron Winklevoss, to list a bitcoin exchange-traded fund or ETF. Concerns about investor protection and market manipulation were the reasons for rejecting the proposal. Read more…
Catalonia To Promote Blockchain For Public Administration
Independent republic Catalonia is set to implement blockchain technology in public administration. The government also plans to promote the technology among companies and citizens. The Generalitat de Catalunya (Government of Catalonia) has agreed to create an interdepartmental working group to formulate the blockchain implementation strategy by December 31,2018 and start applying it from 2019. Read more…
Swiss Financial Regulator Launches Proceedings Against ICO
Switzerland’s financial regulator has launched proceedings against a company that issued a $100 million initial coin offering (ICO). The Swiss Financial Market Supervisory Authority (FINMA) said on Thursday that it has launched enforcement proceedings against envion AG on suspicion of breaching financial market law in relation to an ICO. Read more…
BRICS Banks’ Consortium To Study Blockchain Implementation
A consortium of five major state-owned development banks from the five member countries of BRICS agreed at its 10th annual summit to conduct collaborative research on blockchain’s distributed ledger technology (DLT) to work towards developing the digital economy. Read more…
As of 9.34 am ET, Bitcoin was down 4.29 percent at $7,862.30 and Ethereum was lower by 3.67 percent at $459.16 on Coinbase.
Read more at: RTT News