- US Commodity Futures Trading Commission (CFTC) formally allows its employees to trade digital currencies, a ban on BTC futures stays in place though
- Jamie Dimon chimes in again, JPM admits virtual currencies could disrupt banks
- Porsche is mulling over implementing blockchain into its cars, how could it work?
Cryptocurrencies’ prices have not changed too much recently as they have remained within their consolidation ranges. However, it does not mean neither notable revelations coming from the cryptocurrency industry. Let us begin today’s analysis with the newest report from the US Commodity Futures Trading Commission (CFTC), which has formally allowed their employees to trade digital currencies keeping an exception on Bitcoin futures though. This is quite the interesting decision as the CFTC along with the Securities and Exchange Commission (SEC) oversee asset and commodity legislation nationally. Therefore it could mean that the US regulator is not so much concerned about side effects of virtual currencies trading. Paradoxically, the CFTC has maintained a ban on Bitcoin futures which it began regulating after giving the green light in December last year. Finally, the CFTC chairman made it clear that staff members being engaged in Bitcoin should not participate in matters related to Bitcoin as it creates a conflict of interest.
Dash seems to be especially worth looking at as the price drew the two bullish candlesticks over the last couple of days. Therefore one may count on a reversal pushing the price back toward a more significant supply zone placed a bit above $800. Source: xStation5
JPMorgan weighs in on cryptocurrencies again as it discerns risks to banks
Everybody being immersed in cryptocurrencies well remembers what Jamie Dimon said several months ago spurring a sell-off in Bitcoin. Since then, he’s changed his mind to some extent, but then his bank has come back to its gloomy outlook. Namely, the largest US bank having over $2.5 trillion under management has formally acknowledged that cryptocurrencies and blockchain technology could disrupt banks. This opinion was included in the bank’s annual financial report which, of course, was signed by Jamie Dimon.
Bitcoin has slipped into an ascending channel, hence a lower limit of it could act as the closest support for bulls. When buyers finally break above a $11k mark an increase toward an upper boundary of the channel seems to be reasonable. Source: xStation5
Will Porsche implement blockchain into its cars?
According to the company’s statement dated on 22 February the firm is exploring blockchain apps in its vehicles in collaboration with the Berlin-based startup XAIN. At the beginning applications are to be aimed at locking and opening car doors but blockchain could be applied to improve the safety and capabilities of driverless cars. In its statement Porsche wrote “We can use Blockchain to transfer data more quickly and securely, giving our customers more peace of mind in the future, whether they are charging, parking, or need to give a third party, such as a parcel delivery agent, temporary access to the vehicle. We translate the innovative technology into direct benefits for the customer”.