Summary:
- Fidelity may add other cryptocurrencies to its crypto trading and custody services
- Thailand tests blockchain to prevent tax frauds
- Ethereum (ETHEREUM) gains 2%, but still trades around $110
Investors launched Tuesday’s trading on the cryptocurrency market in rather upbeat moods. Bitcoin (BITCOIN on xStation5) has marched higher around 2% while Ethereum (ETHEREUM on xStation5) has also gone up around 2% today so far. However, some major coins have not seen similar optimism. EOS (EOS on xStation5) experienced huge sell-off today with price declining around 11%. The capitalization of the whole cryptocurrency market stands around the $130 billion mark this morning.
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Bitcoin (BITCOIN on xStation5) is trading around the $4000 handle for another day in a row. Source: xStation5
Thai Govt. considers using blockchain to prevent tax frauds
The Revenue Department of Thailand, a Thai government agency, is conducting a blockchain test to explore opportunities of implementing this technology in a fight against tax frauds, according to the Bangkok Post. Ekniti Nitithanprapas, a director-general of the mentioned agency, said that blockchain technology could help verify value-added taxes invoices, and subsequently it would root out fake ones. The Revenue Department also looks at artificial intelligence and machine learning to prevent tax evasion and frauds, as Mr Ekniti reported.
Ethereum (ETHEREUM on xStation5) is one of today’s top gainers as the virtual currency has risen around 2% so far. Source: xStation5
Fidelity looks to add other major cryptocurrencies for its services
Fidelity Investments, the world’s fourth largest asset manager, considers adding another four or five major coins to its crypto custody and trading services. The company earlier announced such services for Bitcoin and Ethereum, but it may extend its offer. Tom Jessop, the head of Fidelity Digital Assets, asked by CoinDesk at the Block FS conference in New York, mentioned about it. “I think there is demand for the next four or five in rank of market cap order. So we will be looking at that”, Jessop said. Let us recall that this American behemoth announced last month that it would create a separate company, named Fidelity Digital Asset Services, and it would offer custody and trading services for aforementioned two huge cryptocurrencies.
The $0.35 handle seems to be crucial for Ripple (RIPPLE on xStation5) as the second largest cryptocurrency has been moving around it for a couple of days. Source: xStation5.
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