Bitcoin: another historic maximum

Bitcoin reached $6345 at Bitfinex, with $101B marketcap
30 October 2017   489

October 29 the price of the first digital currency suddenly emerged from a fairly long flat period and within the few hours made a sharp breakthrough, fixing a new record.

On the Bitfinex exchange the bitcoin price has reached the high of $6345, which is a new historical high.

Bitfinex Exchange
Bitfinex Exchange

At the moment of press, according to Coinmarketcap, the average Bitcoin price is $6123.48 with $101B marketcap and $2.6B 24h trading volume.

Bitcoin Chart
Bitcoin Chart

It is also worth noting that, together with bitcoin, the growth and most altcoins started. This, in turn, positively affects the aggregate capitalization of the cryptocurrency market. At present, the total value of the crypto currency on the market is $ 180 billion.

UK launches an inquiry into cryptocurrencies

The inquiry by UK Treasury Select Committee will examine the risks and possible benefits of crypto for investors
22 February 2018   13

European governments are quite cautious about cryptocurrencies and investments into them. And the regulatory base is as of now a lot more sparse, than one in America and Asia. But UK has announced that the Treasury Select Committee is launching an inquiry into cryptocurrencies and the distributed ledger technology that is the base of all crypto networks.

The inquiry will study the risks and opportunities presented by digital currencies for businesses and individual investors. Also, the government wants to see the possible benefits for itself from integrating cryptocurrencies and blockchain into daily operations.

Nicky Morgan, the Chair of the Treasury Select Committee, told the press that public interest in cryptocurrencies is rising, but the investments are unregulated and unprotected by the laws. High risks involved in this market are worrying. She added, that finding the right balance between regulating digital currencies for protection of individual investors and allowing the freedom of innovation is necessary in this case, so the Committee's goal isn't stomping down on overall usage of digital currencies.

This notion is just a next step in widespread action taken by EU governments to regulate cryptocurrencies. Lawmakers all around the Europe are discussing the possible governmental stance on crypto. For example, France and Germany have announced the joint effort which will present a set of regulation in the field during the next G20 summit.