Hump Day Crypto News: Netherlands to Regulate Cryptocurrencies, Ethereum Classic Expands Blockchain Development, OkCoin Exchange Gives Free Bitcoin & Ripple Transfers $500 Million XRP from Wallet
Altrady Hump Day Cryptocurrency News #1: Netherlands Announces Its Planned Regulation of Cryptocurrency Exchanges, Digital Currency Wallet Providers & Other Crypto-Related Entities
According to the news report by Reuters on September 3, the Dutch Central Bank will start the regulation of businesses that offer cryptocurrency exchange from Bitcoin or altcoin to fiat and those that provide crypto wallet services. The official statement asserts, “In concrete terms, firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank.”
For those crypto businesses operating in the Netherlands, worry not because the government provides ample time to prepare for the necessary regulatory requirements. The policy will only take effect starting January 10, 2020.
Altrady Hump Day Cryptocurrency News # 2: Ethereum Classic Labs Partners with Second State for the Ethereum Blockchain Infrastructure Development
On a press release issued by the Second State on September 1, it was announced that Ethereum Classic Labs has forged a partnership with Second State for the creation of an open source toolchain and runtime software that would power the next generation of Ethereum-compatible blockchains.
What does this partnership between the ETC Labs and Second State mean for the blockchain technology industry?
This new development is great news not just for crypto traders, Ethereum investors, and digital asset holders but also for the entire blockchain community because of its potential to create an all-new level of smart contract innovation. As Michael Yuan, CEO of Second State asserts, “We are proud to be part of the development effort to make Ethereum Classic the most technically advanced and developer friendly blockchain in the world.”
When the Ethereum Classic blockchain enhancement has been fully developed, we may expect to see the LLVM ecosystem brought into the future-proof smart contract programming language toolchain of Ethereum. Bringing in the LLVM to the Ethereum blockchain can also be a foundation for the further development of new EVM-specific gas optimization that would improve gas consumption on the ETC blockchain.
Altrady Hump Day Cryptocurrency News # 3: OkCoin Cryptocurrency Exchange Claims to Give Free BTC to Developers of Bitcoin, Bitcoin Cash & Bitcoin SV
OKCoin crypto exchange platform just recently launched its voting-driven initiative called “Let’s Build Bitcoin Together” which seeks to get the sentiment of the crypto trading community as to which blockchain or cryptocurrency project they would like to support. The crypto trading platform pledges to give up to 1,000 BTC to the developers who will be voted by the trading populace.
So how does this program work? Cryptocurrency investors, altcoin traders, bitcoin enthusiasts, and anyone in the crypto community can visit the OKCoin digital currency exchange platform to cast votes for their chosen project. In return, the OKCoin management will send 0.02 BTC (or equivalent BCH/BSV) to the selected project.
But why will OKCoin waste money for such a program? For the CEO of OKCoin, Tim Byun, giving BTC donations to crypto and blockchain developers is definitely not a waste of their digital assets. As one of the first cryptocurrency exchanges to be launched globally, OKCoin has all the best interests to see the development of the crypto and blockchain ecosystem. According to him,
“The ‘Let’s Build Bitcoin Together!’ initiative, which we believe is the first exchange-led community investment of this scale, is our way of showing our commitment and dedication to the Bitcoin community. Developers are, and will continue to be, key to improving the accessibility of digital assets, which is the heart of the OKCoin mission. That being said, we hope to give the full 1,000 BTC away, but we need people to get out there and vote!”
Altrady Hump Day Cryptocurrency News # 4: Ripple Transfers 500 Million XRP Tokens to Its Escrow Wallet
On September 3, the Ripple community has been greeted with the news that Ripple has made another huge transaction transferring 500 million XRP tokens from the Ripple Escrow Wallet to Ripple. Crypto enthusiasts, coin traders, and XRP investors have differing opinions on this move. Others perceive this negatively by stating accusations about Ripple’s price control agenda through the dumping of XRP tokens.
There is even an existing petition against Ripple which urges the fintech company to stop dumping the XRP tokens and see XRP price totally crash down.
Currently, Ripple has partnerships with payment providers, digital asset exchanges, and banks globally. They promise to offer more efficient liquidity of cross-border payments through the RippleNet blockchain solutions.
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