The Daily: New York Establishes Crypto Task Force, Novogratz Buys More of Galaxy Digital
The Daily: New York Establishes Crypto Task Force, Novogratz Buys More of Galaxy Digital
In Thursday’s edition of The Daily, we cover a new task force established by the state of New York to explore the cryptocurrency market and its regulation, a move by Galaxy Digital’s Mike Novogratz to buy more of the business, and an interesting way to mark the anniversary of Bitcoin’s genesis block.
State of New York Establishes Cryptocurrency Task Force
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New York State representative Clyde Vanel, the Chair of commission on the
web and New Technologies at the politician, has publically proclaimed the creation of a cryptocurrency task force. The reports created by the task force can seemingly be wont to update the state’s regulation of the trade because the announcement notes that “It has been nearly four years since the implementation of the Bitlicense. within the cryptocurrency area and technology generally, some months is cherish years.”
According to the announcement, the members of the task force, appointed by Governor Apostle Cuomo, the Senate, and Assembly, area unit to check the way to regulate, outline and use cryptocurrency and submit their reports by Dec. 15, 2020. they'll embrace completely different stakeholders like technologists, consumers, institutional and tiny investors, giant and tiny blockchain enterprises, and lecturers.
“New royal family leads the country in finance. we are going to conjointly lead in correct fintech regulation,” representative Vanel additional. “The task force of specialists can facilitate the U.S.A. strike the balance between having a sturdy blockchain trade and cryptocurrency economic surroundings whereas at identical time protective the big apple investors and customers.
Mike Novogratz Increases Stake in Galaxy Digital
Michael Novogratz, Founder and CEO of Galaxy Digital Holdings Ltd. (TSXV GLXY; Frankfurt: 7LX) reported on Wednesday that he acquired 7,500,768 more shares of the company for approximately $7.4M Canadian dollars (U.S.$5.4M) during December 2018. This amount represents about 2.7 percent of the company’s shares, bringing Novogratz’s estimated stake in the company from an already high 76.6 percent to approximately 79.3 percent.
The former hedge fund manager created his cryptocurrency merchant bank in the hope it would eventually become the “Goldman Sachs of crypto.” The crypto bear market of 2018 has been hard on the company’s stock, but Novogratz claimed in November he still believes that institutional demand for cryptocurrencies will drive the start of a new bull trend in 2019. By buying more company stocks, Novogratz is signaling that he is willing to put his money where his mouth is
Bitcoin Magazine to Return to Print in 2019
Bitcoin Magazine, one of the first print publications specializing in cryptocurrencies, was created by Vitalik Buterin and Mihai Alisie in May 2012. In 2015 it was acquired by a company from Nashville, Tennessee which moved the magazine entirely online. Now, to mark the anniversary of Bitcoin’s genesis block, the company has announced that the first print edition of Bitcoin Magazine in seven years will come off the presses in the summer of 2019.
“Back in 2012, Vitalik and Mihai were handing out Bitcoin Magazine from their backpacks to anyone with even a fleeting interest in some mysterious, magic internet money,” the team remarked. “Today, with 10 years of history behind it, Bitcoin is almost a household name, and more and more people are curious about this ‘digital gold’ that they’ve been hearing about. Our intention is to distribute tens of thousands of copies, free of charge, at hundreds of locations and events around the world.”
What do you think about today’s news tidbits? Share your thoughts in the comments section below.
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