Monday, September 10, 2018

SEC Suspensions / Citigroup / China / Crypto Bobbleheads

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$BTC (1:03 p.m. EST): $6,316.69 (-1.51%) // 90-day high: $8,245.16 // 90-day low: $5,889.64/ / More

$BCH (1:04 p.m. EST): $470.31 (-3.31%) // 90-day high: $872.84// 90-day low: $470.31 // More

$ETH (1:04 p.m. EST): $190.61 (-5.08%) // 90-day high: $531.53 // 90-day low: $190.22 // More

$LTC (1:05 p.m. EST): $53.63 (-3.34%) // 90-day high: $107.31 // 90-day low: $52.78 // More

$XRP (1:05 p.m. EST): $0.26 (-7.60%) // 90-day high: $0.57 // 90-day low: $0.22 // More

Here are the 10 most important stories about bitcoin and cryptocurrencies today

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1. The US Securities and Exchange Commission (SEC) suspended trading of two exchange-traded notes. The SEC issued a notice that Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF) would cease trading until September 20. The SEC said the suspension came because of "confusion amongst market participants regarding these instruments." The SEC said it would seek enforcement action against any broker or dealer that enters a quotation in violation of the suspension. –THE NEXT WEB

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2. Citigroup has developed a custodial cryptocurrency product, according to reports. The tool will provide investors with access to crypto makerts without owning cryptoassets directly. Citigroup declined to comment on the report, which game no timeframe for a potential rollout. The end product will be known as a Digital Asset Receipt, a revamped version of the American Depositary Receipts, which is a type of security that represents a non-U.S. company. –BUSINESS INSIDER

Citigroup developing custodial crypto product
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3. Chinese traders have found ways to circumvent the government's cryptocurrency ban. The Chinese government reportedly blocked access to 124 cryptocurrency exchanges in August alone. These exchanges, set up outside of China, still serve Chinese citizens. They exploit a weakness in the government ban by frequently changing domain names. They also routinely move servers to different countries as a way to keep operating. –NEWS BTC

Chinese traders find ways to circumvent crypto ban
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4. The Los Angeles Dodgers plan to hold a "Digital Bobblehead Night" on September 21. Fans who attend the team's game against the San Diego Padres will be able to download digital tokens representing players on the team. Fans will receive a unique code that can be unblocked and transferred to an ethereum wallet. It is believed to be the first crypto giveaway in sports. –COIN TELEGRAPH

Dodgers to hold Digital Bobblehead Night
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5. Cryptocurrencies are an inefficient form of money for terrorist organizations, an expert testified before Congress. Yaya Fanusie, a senior member of the Foundation for Defense of Democracies Center on Sanctions and Illicit Finance, said cash is still the preferred financial tool, but the United States should still take steps to prevent terrorists from potentially leveraging crypto. –BITCOINIST

6. Cryptocurrency has become a savior for residents of countries suffering from a currency crisis. The recent test comes in Argentina, where rapid inflation is devaluating funds. –COINDESK

7. Standpoint Research's Ronnie Moas stood by his prediction that bitcoin will reach $28,000 per coin this year. Moas first made the prediction last December. He said the current downturn is the result of a sell-off from retail crypto investors. –DAILY HODL

8. Ethereum co-founder Vitalik Buterin said the growth ceiling for cryptocurrency is in sight. He added that there is no longer an opportunity for another 1,000-times growth in anything in the space anymore. –ETHEREUM WORLD NEWS

9. Blockchain will mostly improve things that already exist without it, but there are a small number of projects that can only be done with blockchain. It's those projects, a handful of Redditors argued, where the financial benefits of blockchain truly exist. –REDDIT

10. A YouTuber purchases ripple, along with providing a review of the DAEX ICO. It turns out, buying ripple is not the easiest thing to do. –YOUTUBE

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Lon Harris (editor-in-chief at Inside.com, game-master at Screen Junkies), Krystle Vermes (Breaking news editor at Inside, B2B marketing news reporter, host of the "All Day Paranormal" podcast), and Susmita Baral (editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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