Altcoins This Week: Spain Begins Regulating Crypto Trading, Beats Planning Major ICO And More

Altcoins This Week: Spain Begins Regulating Crypto Trading, Beats Planning Major ICO And More

Inventor Of Beats Headphones Applies To SEC For Huge ICO

The inventor of the massive headphones company, Beats, has reportedly applied to the US Securities And Exchange Commission (SEC) for a $300 million Initial Coin Offering (ICO). According to the filing documents, the MMNY token is looking to obtain SEC’s approval to go live sometime this year. The token, which will be based on the Ethereum platform, will allow investors to take part on the new company developed by Monster Products Inc.

Argentina And Japan Launch Information Campaigns On Cryptos

Non-profit organizations in Argentina have created a new project that promises to spread knowledge in rewards to cryptocurrencies among the local communities. Bitcoin Argentina and Bitcoin American have jointly purchased a minivan, which will travel around local communities spreading information about the usage of cryptocurrencies and to teach locals how they can take advantage of them. The “Bitcoineta” will be equipped with everything it needs to be able to travel around Argentina, and perhaps in the future around Latin America.

Streamlabs Takes Crypto Tipping

Streamlabs, one of Twitch streaming apps, has announced its plans to accept cryptocurrencies as tips. According to their blog post, all streamlabs broadcasters will be able to accept cryptocurrency tips in the form of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Streamlabs has reportedly made almost $35 million in tips for the first quarter of 2018, which could be greatly improved once crypto tips are enabled.

Spain On Its Way To Regulate Crypto Trading

Spain has recently published a biding consult on cryptocurrency trading and its taxation. According to the consult V0999-18, people who have acquired virtual currencies such as Bitcoin (BTC), and who have later traded it for other virtual currencies like Ethereum (ETH) or Ripple (XRP), and have reported a profit out of the trade, they’re in obligation to declare such profit.

Altcoins Show Small Growth

Altcoins have experienced a bit of improvement over the past week. Ethereum (ETH) opened the week at $573 and dropped to $515 on Tuesday. By Wednesday it started to show signs of recovery, going back up to $570 and continuously growing closing the week above the $600 mark. Ripple (XRP) followed the same market pattern, opening the week at 60.c and dropping to its lowest point on Tuesday, reaching $0.55c but recovered somewhat, staying at the $0.60 mark and closing the week at $0.66. Bitcoin Cash (BTH) opened the week at the $1,000 mark but dropped below $800 on Tuesday, although it then experienced a recovery of almost $400 by Sunday, reaching its highest point of $1,280. Finally, Litecoin (LTC) opened the week at the $118 mark but it too experienced a decline in prices, going as low as $111 on Tuesday, before recovering to close the week at $126.

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