27/02/2018: Biggest Stories in the Cryptosphere

1. Investment Giant BlackRock Thinks Cryptocurrencies Will Be Increasingly Adopted In The Future

BlackRock, the largest investment company in the world with $5.7 trillion in assets, has discussed cryptocurrencies in its latest weekly commentary. The giant thinks that, despite not yet being a mainstream form of investment, cryptocurrencies will be extensively adopted in the future. However, it was also noted that it is necessary for cryptocurrency’s volatility to decrease before it can be part of traditional investment portfolios. BlackRock is one of the companies looking at cryptocurrencies positively. The company’s Global Macro Investment Strategist Isabelle Mateos Y Lago stated that the new type of currency is not just hype, but something with potential. Good words were also directed at blockchain. However, the difficulty of implementing a blockchain-based system on a global level was also brought up.

2. Japanese Regulatory Body Is Considering Regulations For ICOs

It was reported in the Japanese newspaper Sankei Shimbun that the local Financial Service Agency (FSA) is reviewing the country’s laws in order to draw up a regulatory framework for ICOs. The decision was prompted by a huge rise in popularity for the fundraising method. At the moment, Japan does have specific laws for ICOs. Therefore, the status of the various ICOs is unclear. A tailored set of regulations would cover every type. Currently, the agency is also keeping an eye on ICOs aimed at Japanese investors that are not considered trustworthy.

3. Head of Taiwanese Central Bank Interested In Blockchain

The new governor of Taiwan’s Central Bank, Yang Chin-long, has recently declared during a speech that blockchain technologies will be investigated with the aim of improving its payment system. We previously reported about Taipei wanting to become a ‘smart city’. Therefore, the news should come as no surprise. Furthermore, technologies based on Artificial Intelligence and Big Data analysis would enable the bank to better predict and react to global events. This is the first time that the Central Bank of Taiwan discussed this type of innovation, as well as how it could benefit the current system, so openly.

4. Banks Obliged To Allow Crypto Trading, Says Israeli Supreme Court

The Israeli Supreme Court has reached the decision to compel banks to allow crypto trading and offer the same service to bank accounts owned by people or companies operating in the cryptosphere. The verdict means that Leumi Bank, the second largest in the country, will not be able to restrict in any way the bank account of local crypto exchange Bits of Gold. The former has previously refused service to the latter by blocking its transactions, a decision which landed it in the news. The CEO of Bits of Gold, Yuval Roash, welcomed the news, stating that they were the first to ask for regulations in the country, and that this decision would enable them to make the industry flourish, as well as build a stronger community in the country.

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