Cryptocurrency Week in Review: Japan’s FSA Permits Self-Regulation, Sony Unveils Crypto Wallet

t’s Invest Diva’s Kiana Danial with News BTC and here’s a summary of what’s been going on in the cryptocurrency market in the past few days. First off the results of the poll that I announced in last week’s video are in! Across our social media channels and on YouTube’s comments section, the majority of you voted in favor of Ripple’s XRP as the best investment choice in top 100 cryptocurrencies. Cardano’s ADA came in second, while Stellar Lumens (XLM) came in third. There was a large number of Credits (CS) defenders as well, vocalizing their opposition over Weiss Ratings who has ranked the digital currency poorly. In other news, Japan’s Financial Services Agency (FSA) unexpectedly granted the cryptocurrency industry a self-regulatory status on Wednesday. This gives the Japan Virtual Currency Exchange Association permission to regulate the industry players on its own. Also in Japan, Sony Computer Science Lab announced last week that they’ve been working on a contactless cryptocurrency hard wallet for cold storage which will directly compete with the current industry favorites like the Ledger Nano S and Trezor wallets which use a USB to connect to your computer. However, this new wallet would allow you to transfer your coins from any device using a near-field communication (NFC) chip, and to ditch the cord completely. This announcement may indicate that Sony could be eyeing a bigger move into the crypt industry. On the news, Sony’s stock price (SNE) saw minor gains, before it rode on the global equity meltdown last week. Speaking of volatile markets, Bitcoin (BTC) hasn’t been seeing much of it in the past week, as it’s been moving in the narrowest range since 2017, right below a bearish Ichimoku cloud, and supported by $6,456. With the Ichimoku cloud getting thinner and thinner, market participants are sitting patiently in the calm before a potential storm that may be coming our way this week. Thanks for watching, invest responsibly and subscribe for more updates.

Post Author: CoinCryptoNews