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New York Regulators Say Yes: itBit First to Add Stellar Lumens (XLM)

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While Stellar Lumens (XLM) is making progress in the terms of further development with the newly presented Mobile Phone Network YOVO, we can see it going up in the market today by 2.68% against the dollar, showing progress in form of a rising price as well.

Alongside with progressing in the market and presenting new developments, Stellar seems to be active in the field of listings as well, as it was announced that XLM is to be added on a new exchange on June 14th, as well as having a revolutionary listing on a fiat-crypto financial service in New York, itBit.

New York Regulators Epilogue: itBit to add Stellar Lumens

In the last couple of days, New York Department of Financial Services has given the green light to several currencies, including Stellar, making it legal for the currencies to be traded and operated within the state of New York.

Alongside with approving Stellar Lumens, the Financial Department of New York has additionally approved several more digital assets, including Bitcoin Cash, Ethereum, and Litecoin, while also approving Stellar Lumens only a day ago on June 14th.

By approving the mentioned currencies, the New York’s Financial Department deemed these digital assets to be approved and added by the interested banking and financial institutions that are dealing with providing requiring services.

One of the first interested banking service providers of such kind was itBit, which is a New York-based exchange, representing a branch of Paxos Trust Company, which is a massive chain of banking service providers that deal with digital asset accounts.

Just as Russia managed to meet the need for cryptos half-way by allowing cryptos to be spent when an where applicable and only in case the used digital assets are trusted and safe, that is how the state of New York and their Financial Department have approved ETH, XLM, LTC, and BCH for being added to financial services in New York, which means that it is determined that operating with the approved coins is safe.

That means that blockchain startups and blockchain and digital asset users will now be able to open an account with Paxos Trust Company’s branch itBit, having their digital assets safely managed from their official accounts.

The regulations brought by the New York’s Financial Department can be marked as revolutionary or at least near-revolutionary as Stellar alongside with its peers from the top list just got the green light from the State of New York, allowing cryptos to come even closer to mass adoption and the mainstream waters of the financial circles in New York State.

The co-founder and CEO of Paxos’ child branch itBit stated that they were able to add Stellar to their list of services because XLM was not marked as a security, which means that since it doesn’t represent an asset similar to bonds or stocks, XLM was approved by Bit License, without having to go through a long and tiring process which would be initiated by SEC if XLM was deemed as a security.

Before the approval on the behalf of the newly added currencies to the service offerings of itBit, this banking institution was only approved of using Bitcoin and offering crypto services related only to the first coin ever to be created, BTC.

Bit License, which is the official approval and a definite pass for Stellar, Ethereum, Bitcoin Cash and Litecoin, was created before this occasion as a way of enabling parties that are interested in crypto accounts and asset management in the state of New York, to make that possible under regulatory basis.

However, Bit License only applied to Bitcoin accounts until June 14th with Stellar being added in this stated with the official approval for the first time.

Stellar Lumens (XLM) Performance

Stellar seems to be doing great today as we can see it going up by 2.86% today while it went over 4% on June 14th when it was also approved by the New York Financial Department and added to itBit.

After the change in the market that took place in the last 24 hours, XLM can now be traded at the price of 0.23$, while still ranked as the 7th-best currency in accordance with its market capitalization of around 4.4 billion dollars.

Getting the green light from the state of New York and passing regulations as a nonsecurity, Stellar might get to see additional gains in the following weeks, on the behalf of being added to itBit.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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3 Coins with the Largest Potential in 2019

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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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Do or Die: 3 Crypto Projects that Really Need to Deliver Soon

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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.

The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.

However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.

1) Ethereum (ETH)

Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…

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3 Cryptos To Blow Up In The Next Bull Run

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cryptos
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It has been an entire year since the last real bull run in cryptos and most traders and investors are ready to experience the excitement of their favorite coins blowing up once again. Ever since January 2018, all that the crypto market was experiencing were price drops, with minor attempts at recovery, which would only lead to another decline in prices.

However, there are several reasons to believe that this situation might change in 2019. Naturally, many are hoping to see it happen sooner, rather than later. One such reason is the natural progress of the crypto market. According to analysts, the market moves in cycles, which include bearish and bullish behavior alike. With the last bearish trend taking up the entire year of 2018, it is now time for the more positive development to take place.

Another reason includes large projects that have a goal to deal with problems that the crypto market has been facing, such as high volatility, scalability, and alike. If developers were to find solutions to problems like these or at least provide a better alternative to the current situation, this could encourage investors to become even more active within the crypto space, which can lead to a lot of positive development.

Finally, there are projects that aim to bring institutional investors to the crypto market, by solving issues that institutions are most…

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