The Latest News in Cryptocurrency Developments: August 26th 2020
UK’s Financial regulators, the FCA turn to crypto firms to help fight AML (anti-money laundering). Investors rush in globally as crypto market cap reaches two-year-high. Canadian graphics software company, Snappa joins Microstrategy in using bitcoin for capital reserve. Tech giant, Google decides crypto isn’t so bad after all. Let’s jump into a closer look into this week in crypto!
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UK FCA Turns to Crypto Firms
As the UK financial conduct authority and cryptocurrency organizations dance with regulatory options, an opportunity to work together arises. The FCA proposes that crypto exchanges and custodian wallets in the UK share anti-money laundering data. Read more.
The Crypto Market Cap at a Two-Year High
Despite the recent turmoil to the financial market caused by Covid-19, the cryptocurrency market cap reaches a two-year high. Influencing investors and traders to jump on the opportunity crypto provides. Read more.
Snappa joins Microstrategy’s Bitcoin Reserve Strategy
A few weeks back we saw Microstrategy, the first of what we assumed to be many businesses to use bitcoin for capital reserve. This week we see software company, Snappa move 40% of their cash reserves into bitcoin (BTC). Read more.
Google Does U-turn on Crypto Opinion
Google’s U-turn on crypto comes with little surprise, as cryptocurrencies are largely considered to be the next step in online finance. Only recently, has Google and other entities who take large control of the tech world limited crypto-related business.
However, Google makes clear moves embarrassing crypto with their GooglePay feature. Much like PayPal and Amazon tech giants joining the crypto and blockchain space is a huge step forward for legitimate crypto firms being able to function like a mainstream business do. Read more.
What did you think of this week’s developments? Which story sparked your interests the most? See you next time for our weekly low down on crypto and blockchain growth. We look forward to discussing the week ahead.
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