Cryptocurrencies are extending their downward trend Wednesday morning and the top cryptocurrency Bitcoin went below $6,500. The cryptocurrency market cap also fell below $300 billion. Meanwhile, Ethereum Classic surged on news of it being considered for listing on Coinbase.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.
Ethereum Classic Jumps After Coinbase Unveils Listing Plan
Ethereum Classic, a fork of Ethereum, surged after the US-based crypto exchange Coinbase revealed plans to support it across its platform over the coming months. The altcoin, trading with the symbol ETC, surged nearly 25 percent on Monday on the news of listing on Coinbase.
Lithuania Issues New Cryptocurrency, ICO Guidelines
Lithuania has released comprehensive new guidelines for cryptocurrency and initial coin offerings or ICOs, calling it a step towards more certainty and transparency in the financial market. In a document, the Ministry of Finance divided guidelines into four areas, such as regulation, taxation, accounting, and Anti-Money Laundering/ Combating the Financing of Terrorism or AML/CFT. Of these, three sections focus on cryptocurrency.
Boston FM To Broadcast Weekly Radio Show On Cryptocurrency
A weekly FM radio Show about cryptocurrency and blockchain is going to be up on air next month in the New England region. The program, titled "Cryptomania - Bitcoin & Beyond," aims to educate the masses about the benefits of cryptocurrencies.
Switzerland's Zug To Try Blockchain-based Municipal Voting
Switzerland's crypto-valley Zug will run a pilot for a municipal voting system, which will be powered by blockchain technology, using the city's current digital ID (eID) system later in June. According to local media outlet Swissinfo.ch, the city of Zug will require the residents in the municipality to take part in a blockchain-based trial voting for municipal matters like a referendum vote.
New Swiss Industry Body To Promote Blockchain Use In Capital Markets
The Swiss industry created a new independent body called the Capital Markets and Technology Association (CMTA) to promote the use of new technologies such as blockchain in the capital . The CMTA, with its registered office in Geneva, would provide a platform to create open industry standards around issuing, distributing and trading securities in the form of digital tokens using distributed ledger technologies.
As of 9.43 am ET on Wednesday, Bitcoin was down 3.96 percent at $6,459.44 and Ethereum was lower by 8.48 percent at $477.89 on Coinbase.
by Jyotsna V