BitDigest July 9 · Issue #696

Jul 9, 2020
  • Altcoins continue move higher as bitcoin dominance declines
  • Malaysia has ruled that crypto trading is permissible under Shariah law
  • The CFTC’s set the development of a holistic framework covering digital assets as a key tenet in its new 5 year plan
BitDigest July 9 · Issue #696

Weekly Stock Review

Highlights from the North American listed crypto, blockchain and mining stocks:

  • Galaxy Digital Holdings (TSX: GLXY.V) up listed from the Toronto Stock Exchange’s (TSX) Venture Exchange to the main TSX. In celebration of this event, company employees participated in a virtual opening of the market.
  • Pricing of the Grayscale Ethereum Trust (OTCX: ETHE) fell 24% this week as its premium to NAV fell again plummeting 46% but ETHE is still posting a substantial 270% premium.
  • The premium on Graysclae’s Bitcoin Trust (OTCX: GBTC) jumped 42% this week rising to above 15% again.
  • HIVE Blockchain Technologies (TSX: HIVE.V) announced that it ordered 200 new Bitmain Antminer S17e rigs for its operation in Quebec.
BitDigest July 9 · Issue #696

The Headlines

BitDigest July 9 · Issue #696

Malaysia'a Shariah Advisory Council Rules Crypto Trading is Permissible

www.theedgemarkets.com
Malaysia’s Securities Commission (SC) Shariah Advisory Council has announced that digital asset trading is permissible on registered exchanges opening the door to the countries 19 million person Muslim population to trade crypto.
BitDigest July 9 · Issue #696

CFTC Wants to Promote Responsible Innovation in Digital Assets

www.cftc.gov
The Commodity Futures Trading Commission has defined addressing “the risks and opportunities arising from ‘21st century commodities’” and the development of a “ holistic framework to promote responsible innovation in digital assets” as key to its third strategic goal – encouraging innovation and enhancing the regulatory experience for market participants at home and abroad – in its 2020 – 2024 Strategic Plan.
BitDigest July 9 · Issue #696

Venezuela Seizes Crypto Mining Rigs

www.decrypt.co
The Venezuelan military has seized more than 300 ASIC miners from businesses looking to import the crypto mining rigs into the country.
BitDigest July 9 · Issue #696

Apple Pay Appears to be Adding QR Codes Payment Feature

www.macrumors.com
Code in the developers release of iOS 14 suggests that Apple is working on a new touchless payment feature that will allow users to make payment on ApplePay by scanning a QR code/barcode.
BitDigest July 9 · Issue #696

Libra Still Considering Multi-Currency Baskets

www.coindesk.com
Libra’s Director of Policy Julien Le Goc said that the stablecoin project was still looking at addressing its original plan: “We’ve not abandoned the multi-currency stablecoin, drawing its DNA from the [International Monetary Fund’s] special drawing fund, which remains an important design feature.“
BitDigest July 9 · Issue #696

TATA Develops Crypto Trading Offering

www.tcs.com
Indian multinational information technology company, Tata Consultancy Services has launched a solution for banks and investment firms to to provide secure and seamless cryptocurrency trading to their clientele.
BitDigest July 9 · Issue #696

Rio Tinto Completed Blockchain Backed Iron Ore Trade

www.reuters.com
Australian based global miner Rio Tinto completed its first blockchain-backed trade in iron ore after booking a $7 million shipment of the steelmaking ingredient with China’s Nanjing Iron & Steel Group.
BitDigest July 9 · Issue #696

COSCO to Manage Fleet Using Alibaba Blockchain

www.coindesk.com
Chinese state-owned freight and logistics company COSCO announced an agreement with Alibaba whereby COSCO’s shipping fleet will begin to use Ant Financials’ blockchain to manage and verify documentation such as container records and import licenses for relevant parties.
BitDigest July 9 · Issue #696

Sentencing for Brother of CryptoQueen Delayed

www.courtlistener.com
The acting US Attorney (US.A.)for the Southern District of New York has requested a four month delay in the sentencing of Konstantin Ignatov, the brother of the notorious OneCoin cryptoqueen Ruja Ignatov; Ignatov appears to be cooperating with the US.A. on this case.
BitDigest July 9 · Issue #696

CoinDesk Introduces CoinDesk20

www.coindesk.com
Industry media site CoinDesk has released the CoinDesk20 a group of 20 digital assets that represent more than 90% of the “cryptocurrency market” by market cap, volume, caliber of the assets development team, etc.

Market Data

BitDigest July 9 · Issue #696

Investors are Concerned About Crypto Holdings After they Die

www.cremationinstitute.com
A survey released by the Cremation Institute found that although 89% of crypto investors are worried about what will happen to their assets when they die, only 23% of a documented plan.
BitDigest July 9 · Issue #696

Chinese Blockchain Companies Growing

www.decrypt.co
There are now more than 45,000 blockchain companies registered with the Chinese government with more than half located in the South Eastern Guangdong Province.

Exchange, Custody and Product News

BitDigest July 9 · Issue #696

Monex Adds Crypto CFD

www.monexgroup.jp
Japenese securities company Monex has launched a crypto asset contract-for-difference service.
BitDigest July 9 · Issue #696

BitFlyer to Develop Wallet for Brave Browser

www.bitflyer.com
Japanese exchange bitFlyer and privacy browser developer Brave have announced a new partnership in which bitFlyer will develop a crypto asset wallet for Brave’s users in the Japanese market.
BitDigest July 9 · Issue #696

Bitcoin.com Wallet Adds Stablecoin Swaps

www.news.bitcoin.com
Bitcoin.com has updated its digital currency wallet to provide seamless swaps between bitcoin (BTC), bitcoin cash (BCH), and the stablecoin honestcoin (USDH).

Reports you may have missed

After significantly outperforming equities leading up to its halving event on Friday, BTC -3.87% continued its upward trend over the weekend, now trading just below $66k. ETH -3.46% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL -7.10% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...

Happy Halving Day to all. It has been another volatile 24 hours for crypto markets, with war-related headlines sending risk assets lower overnight. BTC -3.87% briefly dipped below the $60k mark but has since recouped all its losses and is now trading above $64k. ETH -3.46% followed BTC's initial drop, trading below $2900 last night, but it has now rebounded to above $3000. SOL -7.10% has shown remarkable resilience amid the turmoil, now...

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