Market Analysis Report

Bitstamp released their statement on the User Activated Hard Fork

Bitstamp has released their statement on the User Activated Hard Fork (UAHF) situation. They say they are primarily focused on the safety of customer funds first and foremost, as a result they have taken the decision to halt deposits and withdrawals on 31 July 2017 at 23:00 UTC. This halt will be active until they deem it safe to accept transactions, during this time trading will be unaffected.

“Bitstamp would not be in a position to support Bitcoin Cash (BCC)... BCC is an alt-coin”.

They have said that they will not be responsible for splitting and sending BCC to customers and that if users wish to claim their CC they must withdraw their funds. It is too early to tell but it appears that the established exchanges are rejecting BCC, without the support of any large exchanges it will be hard for BCC to establish a meaningful price.

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Floyd Mayweather Promoted an ICO on Instagram

Floyd Mayweather, Jr. is set to fight boxer Conor McGregor in a highly-billed match on August 26. In a photo shared on Instagram yesterday, Mayweather predicted that he would "make a $hit t$n of money" as a result of that fight. Yet, in the same message, he also predicts that he will also strike it big during the ICO for Stox, a prediction market project that is launching its sale on August 2.

Here's the full Instagram post:

"Champion Predictions: I'm gonna make a $hit t$n of money on August 26th. I'm gonna make a $hit t$n of money on August 2nd on the Stox.com ICO."

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Washington's New Cryptocurrency Exchange Rules Are Now in Effect

Following the passing of Senate Bill 5031 into law during the weekend, the state's money transmitter laws now apply to exchanges, meaning that they need to obtain a license from the Washington State Department of Financial Institutions and must provide a third-party audit of their data systems.

Among other requirements, the law also mandates a new transmitter bond requirement, with the figure being tied to the amount of currency exchanged during the previous year. The bill's passage wasn't without controversy, however. Cryptocurrency exchanges Poloniex and Bitfinex declared that they would stop serving customers there, citing the new regulations.

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Malta Gets Its First Bitcoin ATM, Unveils Blockchain Plans

Malta has received its first bitcoin ATM as the Maltese government unveils plans to make it the first country to embrace the blockchain. The bitcoin ATM is located in the town of Sliema where it is operated by Venture Trading. Services include the option of converting bitcoin to euro.

In May, the Maltese government had green lighted a broad national strategy that would see the government embrace bitcoin and blockchain innovation to adopt the technology. In an interview, Silvio Schembri, Malta Labour MP and responsible for the government’s new blockchain policy stated:

"We already have all the elements in place to embrace blockchain – a gaming sector and a robust gaming authority, a strong financial services sector, a reliable ICT infrastructure, an attractive taxation system, and a flexible and pro-business government."

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