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The Mediterranean Seven

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Satoshi&Co Daily Crypto Newsletter

December 5 · Issue #82 · View online
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In relation to what we opined about the ambiguous nature of regulatory signalling towards cryptocurrencies, there has been a positive update on major EU nations taking the right steps to aid the usage of blockchain technology.
A cohort of nations led by Malta and France have established a group called “Mediterranean Seven” to promote the adoption of blockchain technology.
Malta is one of the first few nations to adopt an across-the-board blockchain-friendly regulatory framework - a move that prompted Binance, the biggest cryptocurrency exchange by volume, to open its headquarters there. Meanwhile, in an effort to become Europe’s leading Initial Coin Offering (ICO) hub, France has also developed a framework recently that oversees ICOs.
That said, Europe has so far lagged its global peers in the race to become a friendly workshop which promotes the development of cryptocurrency-driven products and solutions. Indeed, most of the biggest cryptocurrency exchanges are registered in the US or SE Asia, with a majority of the trading volume coming out of these countries.
The “Mediterranean Seven” is perhaps a response by European nations to establish some dominance on the global crypto ecosystem.
Meanwhile in Crypto Wonderland....
“Bear Market? Not for ErisX”
Crypto exchange ErisX has raised $27.5 million from Fidelity Investments and Nasdaq Ventures, among other investors. ErisX will offer both spot trading in Bitcoin, Ethereum and Litecoin along with futures markets in the following year, subject to regulatory approval. According to Thomas Chippas, ErisX CEO, the investment’s purpose is to hire staff and “build out our infrastructure and secure the appropriate steps are taken to develop a regulated market for digital assets.
“Thai Exchange Eyes $10 in STO”
Thai cryptocurrency exchange Satang Corp plans to raise nearly $10 million in a security token offering (STO), despite the recent market meltdown. Satang’s plans are reportedly supported by the Government of Thailand in a bid to make the country a blockchain center and develop a regulatory framework for digital currencies and blockchain. The STO will be conducted in the first quarter of 2019.
“Poloniex Opens Institutional Trading Support”
Crypto exchange Poloniex has announced the opening of trading services for institutional clients. The company, which was acquired by payments firm Circle, said that it will begin offering institutional accounts, with support for different crypto trading pairs and API interfaces. The exchange will also provide no-fee transactions for all bitcoin/USD Coin trades in December.
“Ver on Crypto”
Roger Ver, CEO of Bitcoin.com and the de-facto face of the Bitcoin Cash (ABC) project, was recently interviewed with Bloomberg. Ver maintained that cryptocurrencies still have value, even in spite of 2018’s dismal market trend. According to Ver, “there’s more awareness, there’s more adoption, and there’s more stuff happening all over the world” which is why he remains bullish on crypto.
Crypto Twitter Pick
Preethi Kasireddy
Too many people are expecting "mainstream adoption" of crypto like NOW. They're losing hope because “there's no adoption.”

The reality is, crypto is going to slowly creep into our lives. It'll be unnoticeable. It'll be inglorious.

Be patient. Stop waiting for enlightenment.
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