Google bids adieu to crypto ad ban although partly. Ripple Craziness Continues as Coinbase new listing policy could open doors for XRP’s listing. Among Corporates, Walmart Tells Suppliers, “Blockchain or Bust”. Addressing Stablecoin demand Circle Launches Stablecoin (USDC). Among regulatory news, Crypto Leaders Meet with Capitol Hill to discuss the future of cryptocurrency. Among Exchanges, Mt. Gox Trustee reports the sale of cryptocurrencies worth USD 230 Mn since March 2018. Internationally, prominent Indian Cryptocurrency Exchange Zebpay becomes the first calamity of Indian Regulator crypto ban while the case in the apex court against the ban is expected to be heard this week
Google announced this week that their blanket ban of cryptocurrency-related ads will end in October. The updated policy doesn’t mean it’ll be an advertising free-for-all, however. Advertisements for ICOs, wallets, and trading advice are still on the blacklist, and approved ads can only run in the United States and Japan. Following Facebook’s lead, crypto-related companies need to fill out an application to advertise their products or services.
XRP prices jump as US-based Bitcoin exchange Coinbase prepares to list more crypto assets, announced the company. Coinbase is currently offering Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. In its blog, the company announced that it is currently working on compliance and regulatory issues which will further pave the way to enlist more assets. It said, “The new process begins with a form for issuers to submit assets for listing at Coinbase, which we will evaluate against our digital asset framework. The application form and the digital asset framework will be regularly updated, and our form will indicate the latest version of the framework we are evaluating against.”
The XRP also has another news in its name as the price fall in the past couple of weeks was associated with Jed McCaleb’s selling XRP. The digital token saw its price decline significantly in preceding weeks, and company co-founder Jed McCaleb “accelerated” his sale of XRP in the process, selling off as many as 40,000 tokens per day through July. He then sold close to 500,000 XRP each day in August. Now that ripple’s price has risen in recent days, McCaleb might be expected to have shifted his strategy. However, he has continued to sell about $150,000 worth of the token each day. McCaleb has not divulged his strategy other than to tell the Wall Street Journal that he’s “not selling more than [he has] agreed to with Ripple.”
This week, Walmart informed partners that California-based produce suppliers need to join their supply chain blockchain system or lose their business. The move to blockchain produce tracking should help Walmart reduce the scope of recalls in cases of contamination. Walmart’s Vice President of Food Safety Frank Yiannas told reporters that Walmart has been piloting blockchain technology for two years, so the requirement “shouldn’t really come as a surprise.”
Stablecoins are back in news as Circle Launches Stablecoin (USDC). In perhaps one of the odder trends in the cryptocurrency space, the Boston-based payments company Circle launched its dollar-pegged stablecoin called the USDC. This release follows the launch of cryptocurrency exchange Gemini’s stablecoin (GUSD). While these stablecoins aren’t in direct competition as they will likely only be native to each exchange (Circle = Poloniex), they are projected to carve away some of the market shares from the stablecoin leader Tether (USDT).
More than fifty participants joined a roundtable discussion hosted by Rep. Warren Davidson, R-Ohio, on Tuesday to discuss the future of the cryptocurrency world. A key point made was that the weight of regulatory uncertainty will stifle innovation as companies will be afraid to overcommit resources to commit legal infractions due to the misinterpretation of laws.
Also, read: Bitcoin & Crypto Market all Geared up for a Bull Rally, Experts Explain the Why
According to the recent release on the Mt Gox’s website, Mt. Gox Trustee, Kobayashi has reportedly sold $230 Mn of Bitcoin and Bitcoin Cash since March 2018, revealed a report on Mt. Gox website. Mt. Gox was the unarguably the most popular Bitcoin exchange in the world prior to being hacked in 2014.
India’s leading cryptocurrency exchange operator Zebpay has shut down of its exchange operations, effective from September 28. In a statement issued on its blog, Zebpay said, “At this point, we are unable to find a reasonable way to conduct the cryptocurrency exchange business. As a result, we are stopping our exchange activities. At 4 pm today (September 28, 2018), we will cancel all unexecuted crypto-to-crypto orders and credit your crypto coins/tokens back to your Zebpay wallet. No new orders will be accepted until further notice.” However, it added: The Zebpay wallet will continue to work even after the…