General Market Outlook
The market has made steady positive growth over the past 24 hours. A great number of coins are in the green, but showing a more distributed growth, as few have more than 8%. Trading has steadily risen but somewhat more aggressively than the overall market cap - now trending between $50 billion and $52 billion in 24 hours. S4FE (S4F) and Aurora (AOA) are the major stand outs of the top 100 coins by market cap - up over 110% and 13% respectively in the past 24 hours. The value of Bitcoin (BTC) is nearing $5,600 for +5.0% and a total market dominance of 53.5%, and the value of Ethereum (ETH) is just about $175 for +2.0% change in the past 24 hours. Market cap for the overall cryptocurrency market gained over $5 billion, rising to $185 billion total.
FinCEN’s First Enforcement
For the first time the U.S. Financial Crimes Enforcement Network has come down on a citizen. Using a newly created designation to work with the growing cryptocurrency industry, the individual has been found to be a “peer-to-peer cryptocurrency exchanger” above and beyond what is within legal grounds. They cite that because of the volume traded by the individual, he has broken anti-money laundering (AML) rules. Eric Powers reported none of his transactions, which totaled around 160 of Bitcoin worth roughly $5 million. In addition the individual made over 200 transactions involving physical currency of over $10,000 in currency, but did not file a single currency transaction report. “Such failures put our financial system and national security at risk and jeopardize the safety and well-being of our people, as well as undercut responsible innovation in the financial services space.” - FinCEN director, Kenneth A. Blanco. Powers was fined $35,000 and is barred from providing money transmission services.
Volkswagen Using Blockchain For Minerals
In an attempt to streamline and better track the supply chain of raw materials, Volkswagen will be using blockchain technology. They are specifically looking to the technology for responsibly sourcing minerals such as cobalt, which is used for creating the batteries used in electric vehicles. In the current process, major companies like VW must comply with expensive third party audits. However, if there were an integrated blockchain network for the supply chain, all costs and movements would be transparent and easily audited. This information could be directly fed to the Organization for Economic Cooperation and Development (OECD) who requires a permanent record of mineral movements to aid the compliance process. The network being experimented with was developed by IBM, using Hyperledger Fabric.
Coinbase Expands Trading Region
As one of the world’s lead cryptocurrency, Coinbase continues to pursue expansions and improvements. The company has now added 11 countries to their legal trading areas. Citizens in Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand can now access crypto-to-crypto exchanging services legally through Coinbase. This brings their total to 53 countries across four continents,
Top 5 Gainers
S4FE (S4F) +97.94% at $0.481979
BlockCDN (BCDN) +94.33% at $0.015725
Profile Utility Token (PUT) +83.80% at $0.006965
Mainstream For The Underground (MFTU) +66.37% at $0.000059
Centercoin (CENT) +64.85% at $0.001106
Top 5 Losers
OVCode (OVC) -73.08% at $0.281158
EveryCoin (EVY) -37.51% at $0.000305
ICOBay (IBT) -31.87% at $0.000072
MMO Coin (MMO) -29.08% at $0.002910
Cosmos (ATOM) -28.89% at $4.64
New Coins Listed
Blockchain Cutie (CUTE) listed to HitBTC
TrueUSD (TUSD) listed to ZB.com
By: BGN Editorial Staff