India Was Misunderstood Over Cryptocurrency Earlier this morning many sources that the Indian government would actively try to prevent people from using cryptocurrencies such as Bitcoin. This was due to India not recognising them as a legal tender, despite being willing to adopt blockchain technology for its payment system. Many interpreted these words as a warning about the country making cryptocurrencies illegal. Many argue , today’s decrease in Bitcoin’s value. However, Ajeet Khurana, Indian Blockchain Committee Head, has stated that . Khurana agrees cryptocurrencies are not legal tender, but does not believe the government will outlaw them. He actually said that the fact the government discussed the matter shows how relevant the subject is becoming. reported this caused, at least in part the government’s words have been misinterpreted 2. Lithuania, the Potential European Centre for Blockchain and Cryptocurrency The first international Blockchain Centre has been Vilnius, the only one in Europe. The initiative will build a bridge with fellow Blockchain Centres in countries such as in Australia, China, Canada, the UK, Georgia, and Gibraltar. The inauguration was on January 27th. The main topics of the event were regulation for the crypto market and other potential discoveries which could disrupt the world but needed regulation. In addition, a couple of days later, Lithuania’s Finance Minister Vilius Šapoka discussed to FinTech as well as cryptocurrency regulations. Šapoka believes that blockchain, the technology behind it, could help revolutionise various services as well as the public sector. opened in the Lithuanian capital the country’s openness 3. Illinois Contemplating The Use Of Blockchain Yesterday, the Illinois Blockchain Task Force to the General Assembly published a stating that the use of blockchain was under consideration. The technology would be used to manage residents’ IDs, as well as improving the public sector’s assets. of assets would be tax credits, social benefits and municipal bonds. This would make the process more transparent and efficient. The ID information would be decentralised, enabling citizens to share this information with different government agencies. Furthermore, a to track countries’ initiatives to investigate blockchain and DLT use in the public sector has been established. report Examples database 4. Bitcoin Is Overvalued By 15%, According To Cryptocurrency Hedge Fund Manager Today, Bitcoin has . This was due to several factors and was the second time this has happened in 2 weeks. However, , Founder and CEO of BKCM LLC, believes that . The cryptocurrency hedge fund manager estimated an intrinsic value based on transactions and gave $8,000 as an ideal price. Therefore, Kelly believes that the price will decrease even further. However, because it is still a young technology, he advises against shorting, or betting against, Bitcoin. fallen below $10,000 again Brian Kelly Bitcoin is overvalued by approximately 15% To receive our daily news roundup in your mailbox, sign up here: http://bit.ly/BlockExNewsRoundup

01/02/2018: Biggest Stories in the Cryptosphere

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