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Cryptocurrency Daily Roundup - Sept. 12

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Cryptocurrencies continued their declining trend Wednesday with Bitcoin testing support at the crucial $6,000 mark, amid concerns that the market may be headed for a crash.

Overall cryptocurrency market capitalization shrunk further to $188.45 billion, while the Bitcoin dominance rate climbed to 57.7 percent as of 10.08 am ET on CoinMarketCap.

Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.

US Judge Rules ICOs Are Securities

A federal judge in New York has ruled that the Initial Coin Offerings or ICOs are securities and that the related scams can be booked under US securities laws. The ruling by U.S. District Judge Raymond Dearie gives more power to US Securities and Exchange Commission, which is cracking down cryptocurrencies and ICOs as part of its efforts to regulate the industry. Read more...

Crypto Companies Form Trade Bloc

A group of companies in the blockchain and cryptocurrency sectors have formed a trade bloc to lobby Federal lawmakers for reasonable regulation that helps the growth of the industry. "The Blockchain Association" identifies itself as a unified voice of the global blockchain ecosystem that has billions of dollars of invested capital. Read more...

Binance Partners Malta Stock Exchange To Launch Token Platform

Binance, the world's largest cryptocurrency exchange by market capitalization, has extended its partnership with the Malta Stock Exchange (MSE) to launch a new security token exchange in support of Malta's "Blockchain Island" initiative. MSE's investment vehicle MSX was created in July to seek such partnerships with leading crypto exchanges to create joint ventures in the country. Read more...

Ripple Labs And R3 Reach Settlement On All Outstanding Litigation

Blockchain technology company Ripple Labs and New York-based technology consortium R3 have reached a settlement on all outstanding litigations between the two, involving R3 HoldCo LLC, R3 LLC, and XRP II, LLC. Though the terms of the agreement will remain confidential, the settlement primarily includes the indifference over the option granted to R3 to buy up to 5 billion of Ripple (XRP) tokens at a price of $0.0085 before the end of 2019, in part or in whole. Read more...

Canadian Bitcoin Fund Gets Mutual Fund Trust Status

Canada's First Block Capital Inc. said its flagship product FBC Bitcoin Trust, which is now available for accredited investors only, has now achieved mutual fund trust status. According to the company, investors in Canada's first and only regulated bitcoin fund can now put their fund units in self-directed registered accounts as a Registered Retirement Savings Plan or RRSP and a Tax-Free Savings Account or TFSA. Read more...

Current Prices

As of 10.09 am ET, Bitcoin was down 0.1 percent at $6,275.66 and Ethereum was lower by 9.3 percent at $173.00 on Coinbase.

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