Bearish:
Hong Kong based crypto exchange KuCoin is shutting down trading services for all traders located in Japan because of strict legislation requirements. Singapore-based crypto exchange Huobi Pro will stop offering trading services for customers from Japan due to "regulations of the local authorities", but the company will still try to open a local exchange and register with FSA. Reminder: the top two crypto exchanges by trading volume, Binance and OKEX, have already exited Japan due to strict regulations.
Adoption:
TRON (TRX) and ZenCash (ZEN) expanded their adoption by being accepted as a payment option on biggest adult sites like PornHub and Brazzers. TRON has also burned almost 50 billion old TRX ERC20 tokens as a final stage of the token migration from Ethereum platform to its mainnet.
BitMex CEO Aurthur Hayes stated on CNBC's "Fast Money" show that he still thinks BTC will reach $50,000 by the end of this year. Hayes pointed out that Bitcoin could be "one positive regulatory decision away" from hitting $20,000. He also reminded about previous large price swings, but now the number of active traders is much higher, so the timespan between high price fluctuations could become shorter.
VeChain (VEN) has successfully launched its mainnet with a new symbol VET, after discovering no critical bugs during bug bounty program. VeChain aims to help businesses and customers with enhanced transparency, allowing retailers and consumers to determine the quality and authenticity of products that are bought.
Bullish:
The SEC five-member commission voted to propose a rule to allow companies to launch ETFs without first seeking approval from the regulator. Currently it takes months to file and ask for approval in a complex system that allows some firms to gain competitive advantage, so proposed easing could boost competition and innovation by lowering the barriers to entry."
