It is the first week of May, the crypto space is buzzing and there is a lot happening. Despite all of the top coins being in the red today, the crypto sector has seen numerous announcements made this week. And it’s only Tuesday. Here are six of the top announcements.
This Week’s Top Crypto News
1. SBI Holdings Launching Crypto Exchange:
The first announcement to come this week involves a Japanese finance behemoth. News has broken that SBI Holdings is planning to roll out a crypto exchange this summer. The president of the financial services company, Yoshitaka Kitao, stated that when SBI Holdings launches its crypto exchange, it will be ranked as the number one crypto exchange “in the blink of an eye.” While this is still exciting crypto news, it’s not entirely new. The SBI Holdings announced its intention to launch a crypto exchange back in 2016. However, the world has not yet seen one due to delays.
2. Iran Bans Telegram
The second announcement to become top crypto news this week is that of Iran banning Telegram. Iran has disclosed that it has banned the use of Telegram, a popular messaging app. Reportedly, this ban is because of the protests forecasted to take place on May 12. The protests will occur if President Trump re-imposes sanctions on the Middle Eastern country. In Iran, it is not uncommon for anti-government groups to use the Telegram application.
3. Hong Kong Calls Bitcoin Medium-Low Risk
Thirdly, the Hong Kong government disclosed earlier that virtual currency Bitcoin (BTC) has no impact on financial crime. This essentially means that the Hong Kong government believes Bitcoin to be a medium-low risk.
4. Circle Added ZCash to Platform
The fourth announcement that became top crypto news this week was disclosed on Monday, one day before the month of May kicked off. The news was that Circle added Zcash (ZEC) to the Circle Invest application.
4. Iran Trying Digital Currency
Next up is the crypto news that Iran is trying a virtual currency. The news was actually reported on April 28, but the marketplace didn’t fully clue in until Monday. Iran essentially confirmed that its cryptocurrency model is now ready.
5. Australia’s Largest Stock Exchange to Add Blockchain
Last but not least, the announcement of the largest stock exchange in Australia integrating blockchain has become top crypto news this week. It’s evident why, though. The Australian Securities Exchange plans to roll out a post-trade system that is entirely-blockchain based, and if all goes well, this blockchain-based system will be implemented in the fourth quarter of 2020.
The Crypto News Takeaway
Which announcement surprised you the most? Considering its only Tuesday, it will be interesting to see what other announcements become top crypto news this week.
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