Daily Roundup: 3rd August 2018 – Dutch Central Bank: Crypto is not Money – new ICO Platform and Crypto Market with Microsoft & Starbucks

Dutch Central bank disregards crypto as money

In an official statement, the Dutch central bank declared that Cryptocurrencies are not to be seen as money. The division director of the Dutch central bank (DNB) Petra Hielkema said in the statement that money as to fulfil three functions. You have to be able to pay with them, to count in them and saving them should be worth it. According to Hielkema, cryptocurrencies fulfil none of these functions. She also pronounces that the DNB is not against the technology behind crypto. Therefore, it would be useless to forbid cryptocurrencies. Instead, regulations that protect and inform customers are all the more important.

Germany’s second-biggest stock exchange launches ICO platform

The Stuttgarter stock exchange announced that it is going to launch its own ICO platform. With it, it aims to cover a rising demand for crypto projects by institutional and private investors. The exchange also wants to provide a trustworthy platform that shows zero tolerance towards scams. However, it is not yet clear how the exchange wants to guarantee that only professional and legitimate ICOs will be available on their platform.

World’s biggest stock exchange partners with Microsoft and Starbucks to launch a Bitcoin platform

Intercontinental Exchange (ICE), the owner of the NYSE, announced that it aims to promote mass adoption of cryptocurrencies. Therefore, ICE is founding a new company that will offer futures. The company is named “Bakkt”. As of now, approval by the SEC is still pending. If the SEC approves these futures are to launch in November this year. The involvement of Starbucks provides a payment solution at Starbucks’ venues which involves a fast conversion of acquired assets into USD.