Most cryptocurrencies were in the green Tuesday morning, extending their gains from a day earlier. Bitcoin was rising, while Ethereum was modestly lower.
Market sentiment was boosted by several news such as major investment firm BlackRock and hedge fund billionaire Steven Cohen were entering the cryptocurrency market. Such moves mean more institutional money will flow into the nascent market.
Overall cryptocurrency market capitalization increased modestly to $269.50 billion as of 10.21 am ET on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Global Watchdog Assessing Banks’ Crypto Asset Exposure
The Basel Committee on Banking Supervision, which sets the standards for banks across the world, is measuring the extent of banks’ exposure to “crypto assets” such as Bitcoin. The BCBS “is assessing the materiality of banks’ direct and indirect exposures to crypto assets, clarifying the prudential treatment of such exposures, and monitoring developments related to crypto assets for banks and supervisors,” the Financial Stability Board said in a report.
Coinbase Exploring Addition Of Five More New Crypto Assets
US-based crypto exchange Coinbase is planning to work with local banks and regulators to explore the possibility of adding five more new crypto assets in as many jurisdictions as possible. Coinbase aims to add Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).
New York Grants BitLicense To Blockchain Payment Processor BitPay
The New York Department of Financial Services (NYDFS) granted BitLicense, the license of virtual currency activities, to Bitcoin and blockchain payment processor BitPay, Inc. This will allow the company to facilitate payment in Bitcoin between merchants and consumers in the State of New York.
CFTC Warns Potential Crypto Buyers To Do Homework Before Investing
The Commodity Futures Trading Commission (CFTC) has warned potential buyers to exercise caution and conduct extensive research before purchasing digital coins or tokens, including those self-described as “utility coins” or “consumption coins.” “Understand what rights are attached to the coin or token being sold, and what underlying factors could affect its value,” CFTC says in an advisory issued on Initial Coin Offerings (ICOs) and crypto-assets.
Russian Blockchain Alliance Publishes Whitelist Of Crypto Companies
Russia’s blockchain and cryptocurrency alliance has created a registry of firms that offer blockchain and crypto-related products or services in the country. The white-list, published by the Russian Association of Cryptocurrencies and Blockchain (RACIB), includes the names of companies which are involved in cryptocurrency mining, investment, training, marketing, legal, and initial coin offering (ICO) related services.
As of 10.21 am ET on Tuesday, Bitcoin was up 1.79 percent at $6,722.09, while Ethereum was lower by 0.42 percent at $469.11 on Coinbase.
Read more at: RTT News