Plus   Neg

Cryptocurrency Daily Roundup - Oct. 4


Cryptocurrencies, led by Bitcoin, are trading higher Thursday morning, as some positive news of more institutional investment and mainstream adoption boosted sentiment.

Among altcoins, XRP or Ripple got a boost as Japan's SBI Holdings blockchain-based money transfer app Money Tap went live.

In other news, the cryptocurrency bull and former hedge fund manager Mike Novogratz again corrected his Bitcoin price forecast, saying the top crypto will not top $9,000 by the end of this year.

Overall cryptocurrency market capitalization was $219.06 billion and the Bitcoin dominance rate was 51.9 percent as of 10.18 am ET on CoinMarketCap.

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

Federal Court Says Cryptos Are Commodities, CFTC Can Prosecute Fraud

A federal judge has upheld the Commodity Futures Trading Commission's view that cryptocurrencies are commodities and ruled that the regulator can prosecute fraud involving virtual currencies. The U.S. District Court for the District of Massachusetts Senior Judge Rya W. Zobel held that the CFTC had sufficiently alleged that the particular virtual currency at issue, My Big Coin, was a commodity under the Commodity Exchange Act because the CFTC alleged that MBC "is a virtual currency and it is undisputed that there is futures trading in virtual currencies (specifically involving Bitcoin)."

TD Ameritrade Invests In Crypto Exchange ErisX

US brokerage TD Ameritrade made a strategic investment in a regulated derivatives exchange and clearing organization ErisX in a bid to provide its retail clients access to trading in digital currency products. The firm was also one of the first brokerages last year to offer access to Bitcoin futures contracts for approved clients.

Gemini Secures Insurance Coverage For Crypto Assets

Gemini, a cryptocurrency exchange and custodian owned by internet entrepreneur twins Cameron and Tyler Winklevoss, has secured insurance coverage for digital assets held on behalf of clients in their online hot wallet. The insurance coverage is provided by a global consortium of industry-leading insurers and arranged by professional services firm Aon, which provides risk, retirement and health solutions.

US Legislators' Bill To Establish Common Definition Of Blockchain

U.S. Representatives Doris Matsui and Brett Guthrie have introduced a bill aiming to establish a common definition of blockchain technology. According to an announcement on Matsui's website, the bill titled "Blockchain Promotion Act of 2018" has been proposed for the establishment of a working group of stakeholders across the federal government and private industry to find the digital technology's definition.

Current Prices

As of 10.19 am ET, Bitcoin was up 1.21 percent at $6,543.43 and Ethereum was higher by 1.70 percent at $223.03 on Coinbase.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT