2018 hasn’t been the best year for the world of cryptocurrency!
However, things might just be starting to look up. Finally!
Especially since the cryptoverse has been greeted with some good news from the Southern Hemisphere. Although many nations are not so keen on ICOs and blockchain technology, the Aussies have a different tactic in mind.
The Australian government has plans to promote cryptos while in other news, a Brazilian crypto exchange has won a long standing legal battle, and that too with a bank! And that’s not all apparently.
Australia has surprised the whole world when the Australian Treasury issued a paper on ICO’s that deals with the complexities of the advantages of new blockchain based business opportunities to the country.
The research paper in question states that most ICO issuers are on the look out for “jurisdictions where regulatory settings are seen as most accommodating.” While also identifying that many countries like Singapore are at the fore-front of establishing themselves as “hubs for IT companies that favor ICO fundraising.”
The paper’s authors further established that ICO’s “may be an attractive option for startups that are not yet mature enough to access venture capital or to undertake an IPO.”
Elsewhere in the Southern Hemisphere, a Brazilian cryptocurrency exchange has won a legal battle with a bank that had hoped to close the exchange’s accounts.
According to online media outlet, Portal do Bitcoin, a court in Brazil has exonerated the Sicoob bank which was previously charged with noncompliance of certain banking regulations. The bank has since then been allowed to proceed with it’s daily transactions and activities with the Mercado Bitcoin exchange.
In other news, Brazil also seems to be actively accepting and promoting blockchain technology as a cinema in Santa Catarina has become the first theater in the country to begin accepting cryptocurrency as acceptable pay. The crypto transactions have been made possible through a POS service called Bancryp, which also claims to be the country’s first “crypto bank.”