Market Update – April 13, 2018

Bitcoin Had Gained 17%

On Friday morning Bitcoin climbed back up above $8,000. This happened for the first time in two weeks, and completed a 17% gain over the last 24 hours. There was no major reason for this short squeeze, but it might be coming due to Tax Day issues.

Japan Could Have More Than 3 Million Crypto Traders

In Japan’s its Financial Services Agency (FSA) released its domestic cryptocurrency trading statistics for the first time. According to the info gathered from 17 Japanese exchanges, the country has at least 3.5 million individuals trading cryptocurrencies as actual assets.

Biggest ICO Exit scam to date in Vietnam – $660 million raised and disappeared

Modern Tech, a company who specializes in Vietnamese-based Ho Chi Minh ICOs, could be responsible for one of the largest exit scams in the history of cryptocurrencies after disappearing with an estimated worth of $660 million.

Islamic Scholar Declares Bitcoin Sharia Law Compliant, Potentially Opening Market To 1.6 Billion Muslims

An Islamic scholar stated that bitcoin is compliant with Sharia law, which could open the crypto market to the world’s Muslim population of over 1.6 billion.

“Big Four” consulting firms entering ICO territory

Over the last 3 months, the biggest financial consulting firms like PwC, EY, Deloitte and KPMG have incorporated advisory services for initial coin offerings (ICOs). The Big Four financial services firms help companies to comply with the risks and regulations of launching a successful ICO.

Australia Sets Registration Deadline for Cryptocurrency Exchanges

In an announcement made on Wednesday, the new regulations from Australia’s financial intelligence agency, AUSTRAC have mandated crypto exchanges to register with the authority before May this year.

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