This has resulted into a considerable drop on the charts in the Bitcoin hashrate.
A group of banks in Europe have selected IBM to build a blockchain platform that is to be used by small businesses to finance cross-border orders.
The new service is specifically aimed towards institutional hedge funds and other big clients.
BTCC will also reward new user on its platforms with point for completing the verification which can be redeemed against its own digital tokens.
European Parliament does not expect cryptocurrency to challenge the economic power of central banks in the near future.
The PBS has said that the banks have refused to do business with crypto firms despite no such regulatory rule being imposed by the government.
The deputy governor asked financial institutions not to have much exposure to digital assets and develop a risk assessment framework while dealing with them.
To avoid having local blockchain companies flee to other regions with more lenient regulation, Switzerland has created a working group to encourage banks to provide services and create accounts for these businesses.
Interested parties for the proposed Bitcoin ETFs have been asked by the SEC to respond regarding their involvement with the SolidX shares.
The new policies and regulatory framework is aimed towards legitimizing the country’s local cryptocurrency market.