Groestlcoin moving upwards

GRS cryptocurrency grew up by more than 587,53% within past week 
31 October 2017   2659

Groestlcoin (GRS) rose and gained 587,53% during last 7 days, adding 113,80% in the past 24 hours as the total market capitalization touched levels above $47 million and it is moving up forward.

Groestlcoin Charts october 2017
Groestlcoin Charts

GRS is a currency launched in 2014 and based on an encryption algorithm Grostl, which is a cryptographic hash function.

The coin 5-times price rise may be explained by the interest of investors in ASIC-resistant and technologically developed coins. Groestlcoin has over 80 Electrum servers and it also has Ubuntu PPA available. Groestlcoin is SegWit and Lightning Network ready.

Moreover, the coin seems to have a decent amount of wallets, including 11 different Android Wallets, 10 Blackberry wallets and 2 IOs wallets, which also can be quite appealing to investors.

What we know so far about Groestlcoin is that it has ported Samourai. Also, it lets users send GRS over SMS, which may have also attracted positive attention to it.

Reddit Groestlcoin comments screenshot
Reddit comments towards Groestlcoin

The coin is considered undervalued by Reddit.com users who mostly see it as growing and fast developing and are satisfied with newly appearing features. Nevertheless, it is difficult to predict the direction of its price development in the future.

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   32

German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.