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Paxtradings Crypto Minute: March 3, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: March 3, 2018

Monetary Authority of Singapore Considering New Rules to its Cryptocurrency Framework

According to CCN.com, the Monetary Authority of Singapore (MAS) is considering adding rules to its cryptocurrency framework to protect investors. While the MAS doesn’t regulate cryptocurrencies directly, the authority has already mandated cryptocurrency exchanges to comply with AML/CTF rules. The MAS is also moving forward with new regulations on retail payment services later this year.

Uber’s Co-Founder Creating New Cryptocurrency Called Eco

Uber’s co-founder and chairman, Garrett Camp, is creating his own cryptocurrency called Eco, which is a reference to “the multiple facets of a monetary system — like economics, ecosystem and e-commerce.” According to Investopedia, Eco is currently in the design stage. Camp is looking for more experts and scientists to get involved in Eco, which has USD 10 million of funding during its initial phases. Camp hopes to launch the project by the end of 2018.

U.S. Politicians Accepting Bitcoin as Campaign Donations More Frequently

U.S. politicians are accepting Bitcoin donations more frequently as the cryptocurrency has gained popularity and value over the past five years. According to CNBC, Republican Andrew Hemingway started this trend in 2014, when he “became the youngest gubernatorial candidate in New Hampshire history — and the first to accept bitcoin contributions.” Other politicians who have accepted Bitcoin include Democratic congressional candidate Brian Forde of California, Republican state senate candidate Kelli Ward of Arizona, and former presidential candidate and U.S. Senator Rand Paul of Kentucky.

Richard Sherman Shares his Views on Cryptocurrency Trading Fees and “Experts”

Richard Sherman, one of the most well-known NFL athletes involved in cryptocurrency, recently voiced his concerns with cryptocurrency trading fees. He also expressed skepticism of other investors who make frequent predictions about the market. Sherman stated, “No matter how much research you do, just like with stocks and bonds, you can never predict [what it will do]. People say they can predict it — but if you could predict everything, there’d be more billionaires in the world.” According to Sports Illustrated, Sherman — who owns Bitcoin, Ethereum, and Litecoin — recently became a spokesperson for Cobinhood, a zero-fee exchange that launched late last year.

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