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Paxtradings Crypto Minute: March 31, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: March 31, 2018

PBoC Reaffirms Regulation of Cryptocurrencies, Admits Development of Its Own

At its 2018 National Currency Gold and Silver Work Video and Telephone Conference, the People’s Bank of China (PBoC) reaffirmed its efforts to strictly regulate cryptocurrencies. According to NewsBTC.com, the bank claims to take such a position to protect the Chinese yuan. However, Deputy Governor of the PBoC, Fan Yifei, claimed that the bank is currently researching and developing its own cryptocurrency.

Telegram Reaches $1.7 Billion Goal, Leaves Door Open For Additional Rounds

Telegram has successfully raised another USD 850 million through private ICO rounds. As reporting by CoinDesk, the company acknowledged that it reached in milestone in a recent Form D disclosure to the U.S. Securities and Exchange Commission (SEC). Telegram, whose token sale is based on the Simple Agreement for Future Tokens (SAFT) framework, acknowledged that it “may pursue one or more subsequent offerings.”

Mayoral Candidate Considers Funding Law Enforcement with Cryptocurrency Vs. Raising Taxes

Four-time mayoral candidate of Lewisville, TX, Winston Edmonson, is campaigning to raise funds for the city’s police force with cryptocurrency rather than increasing taxes. According to the Bitcoinist, owners of the cryptocurrency, called Blue Coin, could purchase goods at participating businesses using Blue Coin. The businesses would then transmit a percentage of that transaction to the Texas city’s police force.

Alibabacoin Foundation Ends Second Round of ICO Early After Reaching Goal

The Alibabacoin Foundation (which is not associated with the Chinese e-commerce company, Alibaba) has announced it has closed the second round of its ICO after reaching its goal three days early. According to the Digital Journal, the first round of the ICO also ended early after reaching its goal in five days. The third round of the ICO is scheduled to begin on March 30, 2018.

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