July 9 – 15, 2018 | Bank of Canada, Crypto Courses & More Crypto News

3iQ Research Group consolidates the top five cryptoasset stories of interest
to investment advisors and our investors.


Bank of Canada Updates Their Bitcoin Awareness and Usage Report

July 12, 2018 – The Bank of Canada has released an update to their Bitcoin awareness and usage research report. The survey was conducted back in November 2016, with the new update using survey data from December 2017, near the height of the crypto bull market. Interestingly, the survey data indicates that just 5% of Canadians own Bitcoin – up marginally from just 2.9% reported in November 2016. The research report also indicates that Canadians are purchasing bitcoin for different reasons than back in 2016. In 2016, almost half of respondents said that they held Bitcoin for transactional purposes, such as paying for goods online, or to send money to other people. The new survey conducted notes that in December 2017, almost 60% of people who owned Bitcoin were holding the cryptoasset for investment purposes. The data comes as no surprise, as the heated market in the last quarter of 2017 had many Canadians chase the price appreciation in cryptocurrencies, justifying their reasons for purchasing were because “my friends own Bitcoin”.

Despite relatively low ownership of the leading cryptocurrency, Bitcoin “brand” awareness remains high in Canada. The new Bank of Canada survey indicates that 85% of Canadians are aware of Bitcoin, up 64% from the prior survey. The new data may indicate that Canada’s leading role in cryptocurrency mining may have helped increase its awareness to the greater population.

Read the full article here.


Universities are Offering Crypto Courses and Degrees 

July 15, 2018 – Three more universities in Russia are planning to offer crypto and blockchain courses at the start of the new academic year in September. The courses are set to cover a wide range of crypto-related topics, such as cryptography, blockchain technology, distributed ledger technology, alternative payment systems, and the emerging digital economy. Despite the universities being situated in Russia, some of the courses will feature guest lecturers from Europe, India, and the USA while being taught in English with hopes to target foreign students. Some leading Russian universities are already offering crypto-related courses, such as Moscow State University, the Moscow Institute of Physics and Technology, and the National Research University Higher School of Economics.

One of the three new universities, The Novosibirsk State University (NSU), is set to offer a Master’s Degree in Cryptography this September, led by industry professionals from around world. Students will be taught encryption techniques commonly found in blockchain systems through an intensive two-year training program instructed in English. The university is hoping that their new degree will gain international recognition, certification, and accreditation.

Read the full article here.


FINRA Requests Member Firms to Submit Crypto Activities

July 9, 2018 – The Financial Industry Regulatory Authority (FINRA) has requested that its member firms submit a broad range of details related to cryptocurrency-related activities. FINRA is looking to see which of its member firms are buying or selling cryptocurrencies, accepting cryptocurrencies from their clients, managing crypto-pooled funds, participating in ICOs or other token sales, or offering crypto advice.

FINRA’s new regulatory notice is not mandatory for its member firms. The US self-regulated body is still trying to get a grasp on the extent to which its members are involved in the cryptoasset space, noting concerns regarding “fraud and other securities law violations involving digital assets”. FINRA is also looking to monitor which of its member firms are engaging in cryptocurrency mining, or “any other use of blockchain technology”.

Read the full article here.


Wall Street Trader: Bitcoin is the Best Bet for Crypto Investors

July 10, 2018 – Bart Smith, the head of digital assets at major trading firm Susquehanna International Group, notes that Bitcoin is still the best bet for crypto investors as its use cases remain high and people are “functionally using” the cryptocurrency. Bitcoin remains the oldest and largest cryptocurrency by market capitalization, with widespread international adoption. Smith believes that the competitive advantage of Bitcoin over other cryptocurrencies is the fact that it has established use cases, primarily for its ability to be sent overseas as a form of payment quickly and cheaply.

Smith points out that a lot of people work in one country and send money back to a different country – a situation that is very bitcoin-friendly. “They use Western Union, traditional banks; It is slow and it is expensive,” he said. “And there are people that can stop you from sending that money, whether that’s good or bad. With bitcoin, I can send money. It’s fast. It’s cheap. And frankly, no one can stop me.”

Read the full article here.


Billionaire Steven Cohen Invests in Crypto Hedge Fund

July 12, 2018 – Steve Cohen, the billionaire investor and founder of Cohen Private Ventures, has reportedly taken a stake in Autonomous Partners, a leading crypto hedge fund involved in acquiring cryptocurrencies and other companies involved with blockchain. Autonomous Partners, who is led by venture capitalist Adrianna Simpson, was formed back in December in an effort to invest in areas that they find to be “long-term” in the crypto sector. Notably, the hedge fund dedicates some of its funds to leading cryptocurrencies bitcoin and ether, which have been well established for quite some time and lead cryptocurrency market capitalizations as number one and two respectively.

However, Autonomous Partners has been reluctant to invest in another popular cryptocurrency, Ripple, which is the third largest cryptocurrency by market capitalization. “I have a lot of concerns about the level of centralization there, and I have regulatory concerns if what they have issued is a security,” said Simpson. The comments follow the SEC’s recent classification of both bitcoin and ether as not being securities just last month.

Read the full article here.


3iQ Global Cryptoasset Fund: Price as at July 13, 2018

3iQ is the first regulator approved multi-cryptoasset portfolio manager in Canada, providing accredited investors with exposure to bitcoin, ether, and litecoin through its 3iQ Global Cryptoasset Fund.


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2019-08-06T19:55:02-04:00 July 15th, 2018|