[DigiFinex Daily Crypto Report] Ethereum Based ICO Fundraising in Feb Hit A Record Low of Only $56 million; Russia Adopts Bill Aimed to Provide Domestic Crypto Legislation in Second Reading.

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  • Bitcoin price fluctuates around 3830 USDT and major altcoin prices stabilized after moving up.

According to DigiFinex data, the latest transaction price of BTC is 3840.98 USDT (+3.11%) as its highest price in 24h reached 3877.73 USDT, the lowest price was 3719.91 USDT, with a trading volume of 44,700 BTC.

The latest transaction price of ETH is 135.94 USDT (+7.52%) as its highest price reached 139.37 USDT in 24h, the lowest price was 126.07 USDT, with a trading volume of 787,400 ETH.

The latest transaction price of DFT is 0.1521 USDT, (+2.81%) as the 24h highest price was 0.1609 USDT, the lowest price was 0.1478 USDT, with a trading volume of 4,233,700 DFT.

  • Russia Adopts Bill Aimed to Provide Domestic Crypto Legislation in Second Reading

The bill, “On Digital Financial Assets” was approved in a first reading by the State Duma back in May 2018 and it has given rise to a lot of discussion within the Russian legal discourse.

Today’s second reading adoption had been preceded by Russian President Vladimir Putin’s address to the government made last week to hasten the adoption of digital assets regulation by July 2019.

Vyacheslav Volodin, the Chairman of the State Duma and coauthor of the draft bill, has stressed that the adopted amendments are aimed at fixing the difficulties related to the concept of digital rights. He also underlined:

“After the adoption of the law, citizens and legal entities will receive additional guarantees, allowing them to participate more actively in the development of the economy of the future.”

  • Ethereum Based ICO Fundraising in Feb Hit A Record Low of Only $56 million

Currently the most popular use case of Ethereum is to issue ICOs. The monthly trend of ICO can reflect the activity of Ethereum users. The rise in the cryptocurrency market in February did not bring significant changes to ICO fundraising, which hit a record low of US$56 million, it has shrunk 95% year-on-year compared to the US$1.33 billion raised in February 2018.

  • Specialized Agencies Will Be Setup in China to Accelerate the Industrialization of Emerging Technologies such as Blockchain.

According to Guangming.com, on March 5th, the “International Science Exchange Foundation Next-Generation Infrastructure Committee” in China was officially founded in Beijing. At the inauguration ceremony, Wei Jigang, director of the Industrial Economics Research Office of the Development Research Center of the State Council, proposed that the new generation of infrastructure is the new driving force Chinese economy, and it is necessary to build a future-oriented, powerful, intelligent and green infrastructure system. The newly established committee will set up specialized agencies to accelerate the industrialization of emerging technologies such as 5G, cloud computing, big data, artificial intelligence, Internet of Things, industrial Internet and blockchain.

Disclaimer: The Daily Crypto Report is curated by DigiFinex for your reference only, it is NOT an investment advice.

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