Bitcoin This Week: Bank To Provide Crypto Accounts, Lawmakers Urge SEC To Clarify Rules And More


Today on Bitcoin This Week we comment on U.S. lawmakers plans for digital token regulations, we discuss Malta’s Priem Minister UN speech about Blockchain and more.

U.S. Lawmakers Urge S.E.C. To Clarify Digital Token Rules

In the letter to S.E.C. Chairman Jay Clayton, lawmakers warned that using enforcement alone to explain its policy will unnecessarily hinder innovative technologies. However, they did concede that any future guidance would require deep consideration and time, while also seemingly reminding the S.E.C. to be mindful of the speed the industry is developing at.

There’s also currently confusion among many in the industry over whether digital tokens originally sold in an investment contract can transform into being a non-security. As it stands, the S.E.C. has hinted that both Bitcoin and Ether are non-securities but, as far as the rest, it is still unclear.

Malta’s PM Says Crypto is ‘Inevitable Future of Money’

Malta’s prime minister has used his speech to world leaders at the United Nations to proclaim cryptocurrencies as the inevitable future of money.

Speaking in New York, Joseph Muscat shined a spotlight on the benefits of blockchain including in humanitarian assistance, healthcare, land and property records and emission controls. He went on to say the technology behind crypto paves the way for more accountability and trust among citizens.

His speech came days before Maltese government will hold the ‘Delta Summit’, the world’s first state-organized blockchain and digital innovation conference.

German Blockchain Banking Service Raises €4m

A German blockchain banking service hoping to provide the world’s first regulated crypto-friendly bank account, has raised more than €4 million in funding. Bitwala claims that more than 30,000 people have already signed up, ahead of the product’s release in November.

A major challenge for the company has been not just ensuring the technical and trading sides are waterproof, but also dealing with regulators. What’s reassuring for any stakeholders is that any deposits in current accounts will be protected up to 100,000 euros under German law.

French Art Exhibition Celebrates Bitcoin’s Birthday

Bitcoin will soon be 10 years old – and as you might expect, there are some very smart ideas on how to celebrate it. Recently, a group of international artists opened a cryptocurrency art exhibition in France with the aim of showing how Bitcoin can free artists from the traditional market.

Pascal Boyart, an artist and organizer of the event, told the online publication TheNextWeb that the exhibition was to raise awareness of the possible uses of crypto and connect international crypto-friendly artists.

Those who are willing to buy the art pieces, may, of course, pay with cryptocurrencies including Bitcoin, Litecoin, Ethereum, and Monero.

Markets: Bitcoin Remains Steady In Last Week of September

Bitcoin started Monday at $6,690. Then the price fell and reached its lowest weekly price of $6,385 on Tuesday. Later it recovered to $6,562 on Wednesday, climbing up to the $6,785 mark by Friday. At the weekend the price declined again to around 6,500-6,600 dollars, before closing on Sunday at  $6,605.

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