#Crypto Market Seems Stable, G20 Meeting Again and #Kraken Refuses NY AG Request
At press time the cryptocurrency market has a $351 billion USD market cap. This is the highest it has been since March 21. Bitcoin (BTC) itself is trading around $8200 USD and has been staying around the $8000 USD mark for the past week. All of the top 10 cryptocurrencies are in the green for the last 24 hours with Ripple (XRP) growing 7.5 percent and Bitcoin Cash (BCH) exhibiting an impressive 13 percent growth.
According to a story in CCN, the G20, who meet again today and tomorrow (April 19 and 20), are set to discuss cryptocurrency regulation. The CCN story said:
"proposals for regulation of the cryptocurrency market is expected to take center stage alongside other themes of the global agenda"
The story said a proposal on crypto regulation is expected to coincide with the issuing of a wider policy agreement:
"The objective is for consensus to be reached to enable progress on a public policy document which will be released in June when the first practical proposal for crypto regulation must also be presented."
Following yesterday's news that New York Attorney General Eric Schneiderman sent out a letter to 13 crypto exchanges requesting improved "transparency and accountability", at least one exchange has responded unfavourably. Jesse Powell, CEO and Co-founder of Kraken, was highly critical of the letter in an email to CoinDesk. Powell attacked the AG for not letting the market decide and concluded that Kraken, currently based in San Francisco, had made the right choice to leave New York in 2015.
"The AG's tone-deaf response shows just how bad the disconnect really is. Not only are they apparently experts in what legitimate businesses desire, they are also experts in what's important to consumers. I have a wild idea: how about we let the market decide?"
"I realized that we made the wise decision to get the hell out of New York three years ago and that we can dodge this bullet."
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