Vertcoin rises significantly

VTC coin saw a decent price increase during last week
24 October 2017   3342

Vertcoin rose almost 100% during past 7 days reaching its peak on 22 October with the price of $4.60. At the moment of writing its price is $3.23 which is 50% higher than it was only 4 days ago. Why does the coin experience such a progress while most major currencies tend to drop?

One of the reasons is its integration with Ledger, announced by Vertcoin Development Team on October 19.This provides the opportunity to expose VTC to  BTC and other coins holders for the first time.

What is more, users decide to get involved with VTC because of the potential of Atomic swaps which can be carried out, and atomic swaps are useful when the coins are swapping between different currencies. For instance, Charlie Lee, the creator of Litecoin, gave a significant promotion to VTC, when he did the Atomic Swap with James Lovejoy, the lead developer of Vertcoin, and tweeted that it worked flawlessly.

Also, the developers work hard on making it Vertcoin ASIC-resistant, they built up a social contract with the community to hard fork the mining algorithm if ASICs or FPGAs are ever detected.

Thus, Vertcoin is a growing currency, secured by its users, focused on decentralization and developing rather rapidly.

New York State to Revise BitLicense Granting Terms

At the moment, BitLicense is the most stringent legal framework for the cryptocurrency industry
23 October 2019   12

The terms for granting the so-called BitLicense, the license required for cryptocurrency companies to work in New York State, will be reviewed. This was stated by the superintendent of the New York Department of Financial Services (NYDFS) Linda Lacewell, reports CoinDesk.

BitLicense is considered the most stringent legal framework for the cryptocurrency industry at the state level. In particular, companies are required to receive it for cryptocurrency transactions of New Yorkers, even if they themselves are based in other jurisdictions.

Last year, Kraken, a San Francisco-based exchange, chose not to receive BitLicense, but to completely leave New York. Earlier this year, the Bittrex exchange (Seattle) also left the state without licensing.

This is a good time to take a look, a responsible look and see how our regime is fitting the current market and … what if any adjustments should we think about making to continue to adapt to sort of a changing industry … that’s going to be one of the things that [we do].
 

Linda Lacewell

Superintendent, New York Department of Financial Services

At the same time, she called not to “be too happy” about possible changes in the rules for the cryptocurrency industry.

According to her, the current regulatory regime “works well,” but the industry has changed since 2015, when BitLicense was introduced.

How has the industry grown? Has it matured in any way? And I don’t want to get too specific, but you know, it’s a good time for a second look.
 

Linda Lacewell

Superintendent, New York Department of Financial Services

 Lacewell did not specify when the revision of licensing terms will be completed and what exactly industry participants can expect in the end.

Since the introduction of the license until June 2018, only 6 companies have received BitLicense, but over the past 20 months, after the regulator has softened its position, 16 more companies have been added to their number.