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Paxtradings Crypto Minute: May 1, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: May 1, 2018

Circle Invest Adds Zcash Trading; Aims to Compete With Coinbase

Late last night, as reported by ccn.com, Circle has announced that they will now support the trading of Zcash on their platform. You can already purchase Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic on the platform, which aims to compete with the industry giant, Coinbase. Zcash is a “decentralized and open-source cryptocurrency that provides strong privacy and enables shielded transactions to hide the sender, recipient and value on the blockchain.” The Head of Product at Circle also mentioned that there goal is not to stop with Zcash, they plan on adding a variety of other crypto-assets to Circle.

Venezuela Approves 16 Cryptocurrency Exchanges, All of Which Will Trade Petro.

According to Finance Magnates, the President of Venezuela has approved 16 domestic cryptocurrency companies, all of which will trade Petro. This news is the latest in the Petro controversy, with many arguing that it’s a scam or fake. The Petro pre-ICO has reportedly raised $3 billion and is intended to be used to bail the country out of it’s financial crisis.

SEC Commissioner Talks ICOs on CNBC

As reported by CNBC yesterday, the Commissioner of the SEC has had ICOs on his mind again, saying “Down the road, I think we will be thinking about ways to make those investments work consistent with our securities laws.” With many outlets call this a bad thing for ICOs, others are claiming the SEC is “open to ICOs”. Jackson continued to hammer the point that there is a need for regulation in the cryptocurrency space, but when asked if his comments could mean an ICO ban (or simply just more regulation) he stated, “It doesn’t suggest either of those things.”

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