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Kraken Moving Into India The U.S. based crypto exchange Kraken will start to increase its operations in the Indian market following the recent ruling of the country’s Supreme Court to lift banks’ banning to do business with crypto companies, according to a March 9th announcement. According to Kraken, its growth in India was hampered by the ban on the Reserve Bank of India (RBI). However, they did not give further details regarding the plans for this large market.
U.S. Congressman Working On Crypto Regulation A United States congressman is the latest working to clarify and determine which U.S. regulator is responsible for which digital assets. On March 9, Representative Paul Gosar who is a republican from the great state of Arizona, introduced the “Crypto-Currency Act of 2020,” a bill that looks to choreograph a wide range of digital assets to answer to the appropriate regulator.
Robinhood Goes Down Twice In Two Weeks After experiencing a major outage last week, major stock and cryptocurrency trading app Robinhood is in trouble again. Robinhood encountered another technical outage on Monday, causing its platform to halt trading services, according to a March 9 tweet by Robinhood’s support team. The firm has said that Trading is currently down on Robinhood and they are investigating the issue, but they are focused on getting back up and running as soon as possible.
Japan Real Estate Using Blockchain Two companies have developed a blockchain-based solution to address the large number of vacant homes in the Japanese countryside. Securitize, a compliance platform for token issuers, has joined forces with Tokyo-based LIFULL to create a funding platform using digital securities to invest in real estate. According to a March 10 press release, the collaboration has been successful in proving that blockchain technology and digital securities are more effective crowdfunding for the Japanese real estate market than traditional methods
Russian Rubble Falling After Oil War With Saudis The Russian Rubble (RUB) has dipped, down 20% this year with 10% of it just today after Saudi Arabia began pumping oil production. Saudi oil minister) tried to get Russia to agree to a plan to reduce oil production by a million barrels in light of significant fall in demand. President Putin more or less said no, and the Crown Prince basically said ‘crash it,’ offering a $6 to $8 discount to western markets, so sending oil to $30 or so. Now, if the value of the Rubble falls drastically, Russians are able to buy less bitcoin, meaning there is less demand, and so its global price might be affected.
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