HyperLinq : Weekly Digital Asset Digest 1

Rohan Raman

The HyperLinq Weekly Digest is the one-stop source for the HyperLinq community to access important news involving digital assets, where we essentially outline key industry updates that our members may have missed. We are always open to suggestions and feedback so please do not hesitate to let us know what you think!

Nasdaq’s Listing of XRP Ripple Liquid Index in Final Stages, Bitcoin and Ethereum Indices Live : Omar Faridi | CryptoSlate

As of 25th February, 2019, the world’s second-largest stock exchange with a market capitalization of over $10 trillion is in the final stages of launching its XRP "Ripple Liquid Index" (RLX),  and has successfully launched Bitcoin and Ethereum Liquidity Indices (BLX and ELX). NASDAQ currently supports over 4000 global indices and recently partnered with Brave New Coin (BNC). Apart from developing the BLX and ELX indices, BNC also has plans to launch an XRP liquid index, allowing investors to track the real-time price of the token. According to the crypto-related financial data firm, its indices are programmed to update prices every 30 seconds in USD. BNC is in the final stages of developing the RLX and working with various market participants with the intent to launch various other custom basket indices.

Binance to Give Away $100,000USD equivalent in BNB to Test its Decentralized Crypto Exchange : Davit Babayan | NewsBTC

The world's largest crypto-currency trading company (by volume and geographical presence), is offering users to get paid for testing its newly released decentralized exchange (DEX). On 1st March, 2019, Binance announced that it is going to give away $100,000 worth of rewards (10,000 BNB) in its testnet trading competition where participants can create wallets and exchange tokens on the DEX "testnet". Having as many traders on the testnet will allow DEX to monitor the platform for bugs, issues and anomalies before its formal launch this year. The announcement of this competition also led BNB to rise by 5% thus making it trend in the market's positive territory. If Binance DEX launches successfully, BNB may rise even further, possibly by a fairly significant amount.

Facebook secretly approaches crypto-exchanges to boost native token project : Aakash Athawasya | AMBCrypto

Facebook is gradually inching closer towards releasing their own cryptocurrencies that their platform users can send to each other via Facebook Messenger, much like a PayPal system. Telegram and Signal are also working towards the same crypto-model. Zuckerberg's social media giant has begun approaching crypto-exchanges to gain support for their upcoming coin. However, the exchanges that have been approached are unknown at this point. Facebook also hopes to integrate their cryptocurrency on Whatsapp that would allow users to send the possible-stablecoin almost instantaneously over the platform. The coins developed will exist on a computer network that would be decentralized so that the issuing company does not have undue influence over the cryptocurrency.

Will India Legalize Crypto? Indian Government Has 4 Weeks To Decide : Jeremy Wall | InvestInBlockchain.com

Previously, the Indian Government had banned all native financial institutions from servicing crypto-related businesses, banned crypto-ATM's, dissolved the idea of the Central Bank's own cryptocurrency and shut down any crypto-businesses as well. However, The Supreme Court of India has reportedly given the Indian Government 4 weeks to draft cryptocurrency regulations as of 25th February, 2019, as tweeted by Crypto Kanoon, a platform for blockchain news. Additionally, petitions against the crypto-banking ban by the Reserve Bank of India (RBI) will also be heard by The Supreme Court of India this week. A petition by the Internet and Mobile Association of India (IMAI), which is members with quite a few local crypto exchanges urges the RBI to lift the ban on grounds of it being unconstitutional, hurting local businesses and preventing innovation in the Indian Economy.

Russia Said it Will Regulate Crypto 3 Times in the Past 2 Years, Could it Work This Time? : Cole Peterson | NewsBTC

Vladimir Putin, the President of Russia has issued a fresh order to the government of Russia demanding a new approved draft of a crypto-regulatory framework. However, similar orders have been issued in the past on multiple occasions, in late 2017 and January 2018, with zero results. The reason cited by the finance minister and the central bank chief was that digital currencies could pose "serious risks" to investors and could be easily utilised by criminals. The Russian government soon realised that a legal ban on crypto-activity would lead to conditions for cryptocurrencies as an instrument to serve illegal businesses , launder criminal incomes and finance terrorism, which is when the decision to regulate cryptocurrencies without fully banning them was taken. The goal of the potential regulations is to encourage the development of a digital economy within Russia, which includes regulating “digital assets,” and to attract a greater amount of financial resources aimed at promoting the development of digital technologies.

Thai SEC Added 3 Cryptos to List of Crypto Assets Suitable for ICOs and Trading : Adrian Zmudzinski | CoinTelegraph

The Thai Securities and Exchange Commission (Thai SEC) has updated the list of suitable cryptocurrencies for use in Initial Coin Offerings (ICO) and trading pairs on 28th February, 2019. The list, which previously included Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Stellar (XLM) now also includes Bitcoin Cash (BCH), Ethereum Classic (ETC) and Litecoin (LTC). However, the presence of the crypto assets on the list does not render it to be legal tender. Permission for issuance of tokenized securities on blockchain was officially given by Thailand's National Legislative Assembly through an amendment to the Securities and Exchange Act, the changes of which will come into effect later this year.

Access to Thousands of Institutions: Gemini Crypto-Exchange Partners With British Telecom : Martin Young | NewsBTC

Gemini LLC, the New-York based leading cryptocurrency exchange and custodian has partnered with British Telecom Radianz Cloud, the financial and infotech arm of British Telecom. Gemini now has access to one of the world's largest, secure networked financial cloud communities with members from 50 countries, allowing them access to the nascent cryptocurrency market. BT Radianz has already made strategic partnerships with several industry leaders including Microsoft, Dell, Cisco, Oracle, Symantec and Amazon Web Services. The move has strengthened Gemini's institutional investor connectivity and would help them scale their offerings in this space in a much better way.

Rohan Raman

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