Top Crypto News of the Week in 5 minutes

Blockchain and crypto world is full of innovations, assumptions and sometimes wildly wrong predictions. If you’ve missed the top stories of this week, this post provides a comprehensive look at the top crypto news that made headlines. A lot has happened in the cryptocurrency and blockchain world. Here is a quick round-up of this week’s related stories you may have missed:

G20 Countries To Regulate Cryptocurrencies

G20 Countries To Regulate Cryptocurrencies

G20 countries have shown their plan to start acting on a solution to the matter of cryptocurrency taxation and regulation. The countries have agreed to regulate cryptocurrencies in the G20 conference. The joint declaration was signed by all G20 countries on Saturday. They admitted that the modern multilateral trading regularity is falling short of its objectives and established fundamental reform of the World Trade Organization.

The G20 countries are also thinking about a clear and flexible monetary policy, indoctrinated in accepted global standards. It is important to encourage sustainable growth. The G20 countries also stated that they remain dedicated to the complete, up-to-date and uniform implementation and finalization of the accepted financial reformation program, and the evaluation of its consequences.

Billionaire Novogratz announces Big Things Coming to Crypto

Billionaire Novogratz announces Big Things Coming to Crypto

The shock fall in the value of Bitcoin and other Altcoins have hit investors hard, coming after a sustained period of relative stability, the industry was not prepared for it. Mike Novogratz, the billionaire investor who has also been one of the cryptocurrencies’ largest influencers has also suffered from the collapse of the market, potentially triggered by a major stock market sell-off. Novogratz’s crypto investment firm Galaxy Digital has lost in excess of $100 million throughout 2018, as the ongoing bear cycle for the industry extends into the final month of the year according to EWN.

Nonetheless, Novogratz still stays resolute amid the volatile market situation and has reiterated his long-term commitment to the growth of both blockchain technologies and tokenized cryptocurrencies. Though many have fallen back on the refrain of “coming adoption” and “institutional investment,” Novogratz is leveraging his position as the former Fortress Group hedge fund manager and Goldman Sachs partner to assure the industry of the market’s future.

Bobby Lee Says Bitcoin Will Become a Permanent Fixture

Bobby Lee Says Bitcoin Will Become a Permanent Fixture of Humanity

Bobby Lee, the co-founder of BTCChina and one of the most notable people in the blockchain has said that the Bitcoin will become a permanent fixture of humanity just like electricity. He also said that the crypto revolution is irreversible. He made these prophecies while tweeting about the current G20 conference. The BTCChina co-founder is not concerned about current Bitcoin fall. According to Bobby Lee, the market is in the short-term recovery phase and this is the best time to buy when the market is down/crashing.

According to the BTCChina cofounder, if people want to feel good then they can buy when prices rise fast and when everyone is happy. But in this, people have to pay high prices. However, if they want low prices then they should buy when the market is down/crashing.

Korea’s Kakao is launching an ICO that isn’t scrutinized by the SEC

Korea’s Largest Internet Firm Kakao Is Running a Crypto ICO That Is Not Subject to SEC Scrutiny

Contrasting against traditional fundraising, Initial Coin Offerings (ICOs) promise to offer many advantages. They are easier to issue, require less paperwork, and offer quick sales, thus bringing perks that other traditional methods can’t offer. This has made a lot of companies and organizations want to raise their funds through ICOs. But, with the rise in scams and trouble with regulators, this has been harder than ever. However, this has not stopped some major organizations from pursuing ICOs, like South Korea’s Kakao.

Kakao is a large Korean conglomerate focusing mainly on internet applications. Kakao is currently in the process of raising funds for its clay project. They are targeting to raise $300 million in funds for this project. Kakao has been trying to raise funds for its clay project through an ICO for some time. Earlier, Kakao attempted to do a public token sale of the same ICO through a local entity in Switzerland but due to the opposition from the Financial Services Commission (FSC), that plan was dropped.

Binance To Launch Its Own Blockchain Binance Chain

Binance To Launch Its Own Blockchain Binance Chain

Binance, the world’s largest cryptocurrency exchange will launch its own blockchain known as Binance Chain. The new Binance blockchain intends to give a foundation for building new cryptocurrencies and Initial Coin Offering (ICO) tokens. Speaking at the “Decrypting Blockchain for Business” event, Binance CEO Changpeng Zhao (CZ) said that the fresh ideas truly show an old concept of crypto, which will expectedly point to expanding its enactment on a global range.

Not only this, On December 4, the blockchain-based hotel booking platform Tripio formally declared an imperative partnership with Binance to allow more than 10 million active users in the Binance system to use BNB as one of the main currencies on the Tripio platform to process bookings.

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