The cryptocurrency rally running for the last three days lost steam Thursday morning with Bitcoin facing stiff resistance as it chased the $8,000 mark. Most cryptocurrencies were in the red, while Bitcoin resumed its upward trend.
Overall cryptocurrency market capitalization fell to $290.93 billion as of 10.20 am ET on CoinMarketCap.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Mastercard Wins Patent For System To Link Blockchain Assets To Fiat Accounts
Payment solutions giant Mastercard has won a patent for a payment system linking Blockchain-based assets to fiat currency accounts. The US patent is a new method to speed up digital currency payments. The document, published by the U.S. Patent and Trademark Office or USPTO, explained that it is a method for managing fractional reserves of blockchain currency. Read more…
Three UK Digital Wealth Managers Seek Crypto Clampdown
Three of the UK’s biggest robo-advisers have sought a clampdown on cryptocurrencies such as Bitcoin saying that they are creating an unequal playing filed for wealth managers, London’s Financial News reported. The three firms urging the Financial Conduct Authority for a crackdown on cryptos are Wealthify, Nutmeg and Scalable Capital – backed by Aviva, Schroders and BlackRock, receptively. Read more…
Rep. Brad Sherman Demands Ban On Cryptocurrency Mining, Buying
Rep. Brad Sherman (D-CA) has demanded that cryptocurrency mining and buying should be banned. He made the call during a public hearing on cryptocurrency, hosted by House Subcommittee on Financial Policy. Read more…
Oracle Launches Enterprise-class Blockchain Cloud Service
Enterprise software giant Oracle Corp. has launched an early adopter version of Oracle Blockchain Cloud Service. The service allows enterprises to easily build blockchain networks to drive more transparent, secure and efficient transactions and to track goods through supply chains on a global scale. Read more…
OKEx Partners With Malta Bourse to Launch New Digital Asset Exchange
Hong Kong-based cryptocurrency exchange OKEx is partnering Malta Stock Exchange to launch a new institutional grade security-tokens trading platform in support of Malta’s “Blockchain Island” initiative. A Memorandum of Understanding (MoU) for the new platform was signed in Valletta, Malta.
As of 10.21 am ET, Bitcoin was up 0.04 percent at $7,442.43, while Ethereum was lower by 4.7 percent at $472.79 on Coinbase.