According to data from Bitcoinity, in May 2019, bitcoin trading volume on Coinbase, one of the largest cryptocurrency exchanges in the U.S., reached a 14-month high. This news comes at the same time as a recent announcement that Coinbase plans to launch its debit card product in six more European countries. The debit card allows holders to spend cryptocurrencies at traditional credit and debit card point-of-sale systems. In other cryptocurrency exchange news, late last week, another large U.S.-based exchange, Bittrex, announced that it will remove 32 crypto-assets from U.S. trading.
According to a report this week, one of the world's largest insurance firms has teamed with a group of other insurers to offer an insurance product specifically designed for cryptocurrency custody providers. According to another recent report, one of the largest banks in South Korea is preparing to launch a custody service for cryptocurrencies and other crypto-assets.
Several notable studies on blockchain were released over the past week. The Financial Stability Board, an international monitor, delivered a report to the G20 Finance Ministers and Central Bank Governors on the potential effects of blockchain and cryptographic assets on the global financial system. In addition, the University of Cambridge released its Global Cryptoasset Regulatory Landscape Study, and a major global consulting firm published a study focused on blockchain applications for the retail banking industry.
A recent report from AnChain.AI, a blockchain analytics and security firm, analyzed data from decentralized application (Dapp) platforms and found that 75 percent of the transactions analyzed were performed by bots. A final notable report released this week analyzed energy consumption of Bitcoin mining activity. The report estimated Bitcoin's annual electricity consumption at 45.8 terawatt hours and annual emissions at 22.0 – 22.9 metric tons of carbon dioxide. The report noted that the annual emissions figures were comparable to the level of emissions produced by the nations of Jordan and Sri Lanka and the city of Kansas City, Missouri.
For more information, please refer to the following links:
- Bitcoin Trade Volume on Coinbase Hit a 14-Month High in May
- Coinbase launches its cryptocurrency debit card in six more countries in Europe
- Bittrex: Market Availability Changes for U.S. Customers 6/21/19
- Crypto Exchange Bittrex to Block US Users From Trading in 32 Cryptos
- Korea's Biggest Bank Is Preparing to Custody Digital Assets
- Metaco Offering Crypto Custody Insurance via Giant Broker Aon
- Financial Stability Board: Decentralised financial technologies: Report on financial stability, regulatory and governance implications
- 2019 University of Cambridge Global Cryptoasset Regulatory Landscape Study
- Blockchain's Appeal Is Limited for Retail Banks, McKinsey Says
- McKinsey: Blockchain and retail banking: Making the connection
- Our AI detects your AI – Revealing theSecret Blockchain DApp World of Bots
- Study: 75% of Dapp Transactions Are Now Made By Bots
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