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   981

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.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   108

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 
 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.