Crypto Corner: Market Turns Green Overnight, WISE @network_wise Creates Smart Contract with Gopher (OTCQB: $GOPH) Tech, Japan, Hong Kong and Switzerland Regulation
December 17th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - December 17, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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Crypto Corner: Market Turns Green Overnight, WISE @network_wise Creates Smart Contract with Gopher (OTCQB: $GOPH) Tech, Japan, Hong Kong and Switzerland Regulation
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Market Turns Green Overnight, WISE Creates Smart Contract with Gopher Tech, Japan, Hong Kong and Switzerland Regulation
Stocks discussed: (OTCQB:GOPH)
After grazing the $100 billion USD mark over the weekend, the crypto market has made a quick recovery this morning back to a total market cap of $110 billion, according to CoinMarketCap. Most of the top 100 coins listed by market cap are seeing green, with Bitcoin (BTC) registering growth of almost 6 percent since yesterday and XRP, Ether (ETH) and EOS following with 6.3, 6 and 23 percent, respectively.
AI and IoT developer Gopher Protocol Inc. (OTCQB:GOPH) has had its technology successfully deployed by its licensee WISE Network S.A("WISE"), which has created its smart contract on the Ethereum Blockchain, based on the ERC20 standard. Gopher's Interim CEO, Doug Davis, said:
"We are proud to see implementation of our technology platform into the Blockchain space in partnership with WISE. While Gopher is not a cryptocurrency or Blockchain company, it is a leading supplier of Asset Tracking IoT and Global Mesh Network technology platforms that licensees such as WISE can use to enhance their Blockchain-based offerings."
Japan's Financial Services Agency (FSA) has published a new draft of its regulatory framework for cryptocurrencies. As expected, the document details the FSA's commitment to combating the threat of money laundering and the financing of terrorism as well as outlining the status of ICOs and crypto exchanges.
Over in Hong Kong, the Securities and Exchanges Commission (SFC) is looking to further regulate the crypto space in response to concerns of money laundering and terrorism financing, according to a report from CCN. Though preventing crime would be a positive result of more regulation, CCN quotes Daiwa Institute of Research professional Daisuke Yasaku on the inability of some firms to cope as a possible downside:
"The cost of regulations will be high. The requirements of the SFC initiative may prove too burdensome for some operators."
A different attitude towards regulation is on display in Switzerland, where authorities want to integrate the new space into the existing financial framework, according to a piece from CoinDesk. The piece quotes the "highest executive authority of the Swiss Confederation" that:
"Since an entry in a decentralised register accessible to interested parties can create publicity similar to the ownership of a security, it seems justified to attach similar legal effects to this entry."
Sam Mowers, Investorideas
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Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
@GenesisBlockch
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange. You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
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