As we start the first weekend of February, this week’s Crypto Traders Pro Weekly Review 2-8-2020 shows that crypto is rapidly advancing and evolving. This is your Crypto Traders Pro Weekly Review 2-8-2020
India is still confused as to what to do with crypto. Zebpay, however, is betting big. They’ve announced that they will be returning after shutting down a year ago due to regulatory confusion.
Central Banks are more and more becoming involved with digital currency. According to a study, four countries have already launched a Centra Bank Digital Currency. It’s only a matter of time before digital currency is mainstream.
It will soon become more expensive to operate in the UK if you’re a crypto company. The Financial Conduct Authority has released a new fee schedule, forcing companies to pay about $2,600 USD if they make up to around $327,000, or about $13,000 if they make over the former amount.
South Korean crypto exchange BitBerry is shutting down at the end of this month. They cite poor economic happenstance as justification, and has urged users to withdraw funds before it’s too late.
In a shocking twist, Venezuela’s Petro cryptocurrency is falling flat. Just kidding, this shouldn’t surprise anyone. Merchants won’t take it and the general consensus about the crypto is that it’s a scam.
We’ve seen a lot of colorful commentary here at CTP about this next topic, but the charts don’t lie. Bitcoin SV has skyrocketed 43% in the last month, and will only continue to improve over the long term. BSV recently completed its Genesis Upgrade, and now has no hard cap in place and has unlimited scaling capabilities. No other crypto in the ecosystem can boast this.
Australia is diving head first into crypto by establishing a number of regulations and laws that will help the ecosystem flourish and thrive. While some countries are lightly stepping their toes in, Australia is a shining example that many others can learn from.
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