Daily market recap – 07/17 – Crypto Surge Triggered By News of Institutional Money Coming in?


Perhaps due to some more positive news, the market is starting to feel like it is beginning to step up again. Having defended $6,000 last week, Bitcoin (BTC) appears to be building momentum for a price rise.

Several technical analysis experts have done a good job of analyzing the general direction of the price of Bitcoin in the coming months. But it seems that the news announcements with regard to institutional money appeared poised to flow into the cryptocurrency market has had a positive effect on the sentiment of the markets.

Starting with the Coinbase listings report, the market has seen good growth from the weekends and now the new Coinbase news about getting the go ahead to list crypto assets with “securities” label is getting some positive feedback. Also, another welcome news is the asset-management giant BlackRock has confirmed that it has established a working group to explore cryptocurrencies and blockchain technology.

You can read full article at [https://dna.coinve.st/news/articles/2018-07-17/Crypto_Surge_Triggered_By_News_of_Institutional_Money_Coming_in@_BTC_Gaining_Ground_at_$6700_](https://dna.coinve.st/news/articles/2018-07-17/Crypto_Surge_Triggered_By_News_of_Institutional_Money_Coming_in@_BTC_Gaining_Ground_at_$6700_)

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German authority officially recognises Te-Food as NOT being a security. Great news for entire industry.

Full article – https://medium.com/@cryptorand/interview-with-te-food-team-tfd-61f7549e71f2

The interesting part;

“This is maybe the toughest barrier in the advancement of the crypto economy. The people who followed our project know that we always focused on regulatory compliance. But people don’t know that we went further than trying to interpret the announcements of authorities in the news.

We contacted the SEC equivalent authority of Germany through our partner company, Telenorma AG, and collaborated with them to create a token economics, which can lift us from the gray area where crypto companies exist all around the world. Luckily, the financial supervisory authority was helpful, and after several months of work, the token economics of TFD was born.

As a result, for the first time in the history of crypto, a major securities commission released an opinion, which referred to, that based on its economics, the TFD token is not a security, it doesn’t need a licence under the German Banking Act, or the Payment Services Supervision Act.

What does this result exactly mean? Many companies said that their token is a utility, but many times the securities commission of their country thinks otherwise. The tokenized licence model we worked out is finally one which is compliant with the regulations. The importance of this achievement goes beyond TE-FOOD, it opens new horizons for this whole industry as well.

Many people say Venture Capital is on the sidelines of crypto, waiting for the end of the operation in a regulatory gray area, and we got over this obstacle.”

This is great news for all utility tokens IMO, surely more national authorities are to follow?

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