Daily Cryptocurrency News – 13th October 2018

Welcome to our Daily News article. Here are the latest daily cryptocurrency news of October 13th.

Gemini Announces Litecoin Support

Gemini is happy to announce the support for the cryptocurrency Litecoin.

Beginning Saturday, October 13th at 9:30 am EDT users will be able to deposit Litecoin into their Gemini account.

Gemini is possibly most regulated cryptocurrency exchange. It is custodian held to the highest standards of banking compliance and fiduciary obligations. Also overseen by the New York State Department of Financial Services (NYSDFS).

Litecoin is a fork of the original Bitcoin network. A small description that made Litecoin know was the “Faster Bitcoin”. It aims to grow the use of cryptocurrency for daily transactions, like the payment methods of the traditional banking system. Moreover, Litecoin uses a different mining algorithm than Bitcoin to decentralize participation further. The coin continues to be on the leading edge of efforts to increase adoption of cryptocurrency for payments.

Adding Litecoin to Gemini will surely attract more investors. Gemini continues to grow with a “security-first” platform.

Gemini has also planned to announce support for Bitcoin Cash (BCH) today as well. But, there is uncertainty lately within the Bitcoin Cash community. Possible hard forks could be arriving in mid-November. Some of these forks lack the replay protection feature that Gemini requires to support Bitcoin Cash safely.

Finally, the team mentioned that for cryptocurrency to reach its enormous potential it is crucial to provide a regulated environment. An environment with both innovation and consumer protection.

Former Trump Advisor Gary Cohn Joins Blockchain Startup

Gary Cohn, a former chief economic adviser to U.S. President Donald Trump, has joined a blockchain startup.

Spring Labs, a firm developing a blockchain network for sharing financial data made an announcement. In a recent press release, they said that Cohn, who also was an operating officer of Goldman Sachs, is joining its board of advisers.

The Spring Protocol is a blockchain-based network that provides a unique feature. This feature is the exchange of information without sharing underlying source data, the release states. The network could allow identity sharing, fraud and underwriting information among financial institutions.

Gary Cohn said he always had interest in blockchain for many years. Moreover, Spring Lab is developing a network that could have a profound impact on the financial services sector, among others. That’s the primary reason why he joined them.

What impact will have Spring Labs with now Gary Cohn as part of their team?

CFTC Chair Giancarlo Says Institutional Investors Will Help Crypto ‘Mature’

Institutional investors for cryptocurrency markets may help the space “mature,” said Christopher Giancarlo.

Giancarlo discussed with Fox Business the cryptocurrency space and his agency’s efforts to monitor it. “There has been a noticeable increase of institutional investors and traders to the space,” he said. Giancarlo said he expects more “maturation” of the crypto markets as that growth continues.

He added:

“We’ve still got a long way to go; there’s a lot of issues in some of these spot exchanges. Such as a lack of transparency, a lot of conflict of interest, a lack of systems and systems safeguards, and that’s a concern. But you know, like all things, it takes time to mature, and with the movement of more institutional investors into the space, I think we’ll see that [maturation].”

Further details can be found here in Coindesk.

If you missed yesterday news, you can check them here: Daily Cryptocurrency News – 12th October

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