ICO Alert Crypto Minute: July 30, 2018
Updated Bitcoin ETF timelines suggested; Telegram launches ID verification tool; new report from Gallup shows strong interest in cryptocurrency!
Latest Reports Suggest Bitcoin ETF Will Not Happen Soon
The SEC has seen multiple applications regarding a Bitcoin ETF, including the Winklevoss ETF that received another rejection a few days ago. As seen on Cointelegraph, Fatfish Internet Group (a tech-focused VC firm) believes it could still be a few months before the ETF is approved. Further, as noted by various Twitter profiles, including Jake Chervinsky of Kobre Kim LLP, the decision making process is loaded with potential extensions that the SEC can elect to take. February or March of 2019 is when most foresee a final deciison being made by the SEC.
Many believe that a Bitcoin ETF would allow more money to flow into the cryptocurrency market, allowing current users to benefit from increased price action and new users to test their Bitcoin investment.
2% Of Americans Own Cryptocurrency, 26% Are ‘Intrigued’
As reported by Gallup and as seen on Cointelegraph.com, 2% of Americans own Bitcoin and 26% of Americans are ‘intrigued’ by the new asset. The official poll (Wells Fargo/Gallup Investor and Retirement Optimism Index survey) was conducted from May 7–14, 2018 and measured US adults with $10,000 invested in stocks, bonds or mutual funds (within or outside of a retirement account). The poll continues with further information about cryptocurrency knowledge and adoption based on age, citing that 27% of investors know what cryptocurrency is and nearly all Bitcoin owners ranging from 18–49 years of age. The survey included 1921 people, all based in the US.
Telegram Launches ID Verification Tool
Telegram has launched an ID verification tool that may help cut down on scammers and frauds in the ICO space, as reported by Cointelegraph. The new tool, Telegram Passport, will encrypt personal data and allow it to be shared with third parties classified as “finance, ICOs” by the social media giant. The tool will store personal data on the cloud to start, with plans to move on to a decentralized solution in the future. The new tool is already integrated with a company called ePayments, which will allow verification to happen within a few seconds through the ePayments platform. ePayments is the “first electronic payments system to support registration and verification”. Telegram raised $1.7 billion in two private fundraising rounds earlier this year.