Bank of England Head Doesn't Consider Cryptos as a Thread

The statement of Bank of England head had a big impact onto the cryptocurrency market
19 March 2018   759

Head of Bank of England at G20 Summit

The Financial Stability Board (FSB), which supervises banks and financial networks, refused to create new rules for regulating bitcoin in favor of revising existing ones. According to Reuters, the statement was made in the framework of preparatory meetings before the G20 summit.

According to the chairman of the FSB, the head of the Bank of England, Mark Carney, the authorities need to focus their efforts on filling the gaps in the data exchange that can help to regulate the rapidly developing but still "insignificant" cryptual currency against the global financial market system.

The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time. As its work to fix the fault lines that caused the financial crisis draws to a close, the FSB is increasingly pivoting away from design of new policy initiatives towards dynamic implementation and rigorous evaluation of the effects of the agreed G20 reforms. 
 

Mark Carney

Head, Bank of England

The chairman of the FSB also expressed his belief that his department, even if the leadership was changed, would not develop new standards for regulating crypto-currencies, but would improve existing ones.

As its work to fix the fault lines that caused the financial crisis draws to a close, the FSB is increasingly pivoting away from design of new policy initiatives towards dynamic implementation and rigorous evaluation of the effects of the agreed G20 reforms.
 

Mark Carney

Head, Bank of England

Market Reaction

Meanwhile, the market reacted positively to this statement

Top Ten Cryptocurrencies
Top Ten Cryptocurrencies

In a short time the BTC jumped by $ 1000. Altcoins followed, most of which came out into the green zone.

Total Market Cap
Total Market Cap

Overall marketcap had also jumped from $274B to $318B in a short time.

Kraken to Add Bech32 Support for BTC and QTUM

Bech32 format corresponds to addresses that support sending transactions using SegWit scaling technology
08 November 2018   181

The popular American cryptocurrency exchange Kraken announced the long-awaited integration of Bech32 addresses for Bitcoin and QTUM.

To date, Bech32 addresses have been integrated only for withdrawal operations. Bech32 addresses start with “bc1” and “qc1” for bitcoin and QTUM, respectively. Support for Bech32 addresses for depositing operations will be implemented soon, the company promises.

The Bech32 format corresponds to addresses that support sending transactions using SegWit scaling technology, activated in the Bitcoin blockchain about a year ago. According to the transactionfee.info portal, by now the share of SegWit transactions in the Bitcoin blockchain has again dropped to 42%, after being briefly close to 50%.

Earlier, the Kraken exchange stated that it supported the launch of SegWit in the bitcoin blockchain and uses the Bech32 format to make transfers in its internal systems, but refused to provide customers with access to such addresses until the technology is integrated into large wallets such as Bitcoin Core. Release of Bitcoin Core 0.16.0 with support for SegWit was held in February of this year.

Get more info on Bech32 at GitHub.