Today saw a whirlwind of news in the crypto space as bitcoin remained relatively uneventful. Currency.com launched tokenized securities trading, hackers broke into Cryptopia and a former U.S. representative spoke out against current crypto regulation. SBI Crypto Investment also put money into Breadwinner AG (BRD).
Additionally, Crypto Insider wrote a more in-depth take on the current initial coin offering (ICO) scene.
Get the details:
Where Is The Price Of Bitcoin Heading?
Bitcoin’s price action has been relatively slow over the past few weeks, with the exception of a few Bart Simpson patterns alluding to low liquidity levels.
The price of BTC has also been subject to large wicks, stop-loss hunts and possibly bot action.
In a recent video, technical analyst Tone Vays noted bitcoin’s monthly chart looked grim, with a few possible scenarios going forward.
European Blockchain Startup Launches Trading In Tokenized Securities
Today saw another security token trading operation launch. The new platform, Currency.com, will let users trade tokenized securities via bitcoin or ethereum.
Currency.com touts more than 150 tokenized securities for trading and investing opportunities. These tokenized securities follow the price movements of their underlying assets.
DX.Exchange recently launched a similar operation at the start of January.
New Zealand Crypto Exchange Cryptopia Goes Offline Citing Hack
Cryptopia has suffered a significant hack according to the exchange’s tweet this morning. “Cryptopia Exchange suffered a security breach which resulted in significant losses,” the exchange said in the tweet.
No details are available regarding the number of stolen funds or the full impact of the situation. Cryptopia has shut down its exchange while it pursues steps toward a solution.
“Meanwhile, tweets from Whale Alert on Saturday indicated that 19,391 ether (ETH) tokens worth nearly $2.44 million and around 48 million centrality (CENNZ) tokens worth about $1.18 million were transferred from Cryptopia to unknown wallets on Jan. 13. It is not currently clear if those funds were moved by the hacker or by the exchange,” CoinDesk noted.
US Regulators’ Approach To Crypto Is Obstructing Innovation: Ex-Congressman
Former Washington state representative George Nethercutt spoke on crypto assets yesterday, stating U.S. regulation has gone the wrong direction, according to CoinTelegraph’s report on Nethercutt’s article for The Hill.
“While diplomats at the State Department are negotiating hard to pave the way for American innovation, U.S. regulators such as the Securities and Exchange Commission (SEC) have been slow to make pronouncements regarding cryptocurrencies. This has hampered innovation and left many American businesses in regulatory limbo, particularly with respect to whether or not their tokens are classified as securities,” Nethercutt wrote.
“From a legal perspective, experts have concluded that securities regulations simply do not apply to cryptocurrencies. It’s time policymakers share that approach, allowing innovation to continue to flourish,” he added.
Japanese Finance Giant SBI’s Crypto Subsidiary Backs Mobile Wallet BRD
Switzerland’s Breadwinner AG recently saw investment from SBI Crypto Investment. SBI Crypto Investment operates under Japanese powerhouse SBI Holdings.
Breadwinner AG is known for its BRD mobile crypto asset wallet. The wallet is active in 170 countries and boasts 1.8 million downloads.