Bitcoin price rise

Rapid price rise of Bitcoin is caused by the BTCC's support of BIP91 and SegWit2x
20 July 2017   2752

CEO of the Chinese BTCC exchange Bobby Lee announced that their mining pool began signaling the simultaneous support of two solutions for scaling bitcoins - SegWit2x and BIP 91.

In his Twitter message, Bobby Lee reported that more than 90% of the pool servers support the BTC1 protocol (SegWit2x), which was signed by New York in May, and also expressed the hope for the early activation of BIP 91, which is a modified version of SegWit2x.

A few minutes later Bobby clarified that now 100% of the pool's mining capacities are directed both at full support of BTC1 and on the signaling of BIP 91.

According to XBT.eu, currently 83.3% of the last 144 blocks support the BIP 91 protocol.

XBT.eu
XBT.eu chart

BTCC statement had a positive effect on the price of bitcoin. Now it's $2586.98 and continues to grow. 

Bitcoin Charts
Bitcoin Charts

Tone Vays, business analytic, gave his comment too. According to him, today's rapid rise in the price of bitcoin was a response to the growing support of BIP 91 and, as a result, the increasingly more active activation of the Segregated Witness protocol.

At the same time, as Tone said, Slush Poo hadn't stated the support of BIP 91, which is expected to launch this process during today.

 

Wyoming Passed Bill Exempting Utility Tokens from Securities Laws

The Wyoming House of Representatives has unanimously approved a bill exempting utility tokens from securities laws  
20 February 2018   82

On Monday, House Bill (HB) 70 passed the House 60 to 0 and will now head to the Senate. The bill exempts utility tokens from securities laws. This will attracts ICO’s launches to the state and will make the state a favorable environment for blockchain startups.

According to the bill, the utility token must meet three conditions:

  1. The token’s issuer must not market it as an investment;

  2. The token must be exchangeable for goods and services, for example, startups must have a working product or service at the time the tokens are issued;

  3. The token’s issuer must not actively make efforts to create a secondary market for the token by entering into a repurchase agreement or agreeing to locate buyers for the token.

It is important to note that there are four more cryptocurrency and blockchain-related bills currently moving through the Wyoming legislature.

HB 19 passed the House of Representatives on Monday and is now awaiting introduction in the Senate. The bill exempts cryptocurrency from the state’s money transmitter act.

HB 101 has passed its second reading in the House and, if it passes its final hearing, will then go to the Senate. This bill will allow companies to create and use blockchains for the purpose of storing records and conducting inter-office communication.

HB 126 has just passed its second reading in the House. It will allow the creation of series LLCs.

Senate File (SF) 111 passed a vote to introduce on Friday and is now headed to a committee hearing. This bill will exempt cryptocurrency assets from state property taxes.