On this week’s crypto agenda: Coinbase plans to allow clients to start trading ethereum classic (ETC); cryptocurrency derivatives platform IDAP will conduct its ICO; and blockchain and cryptocurrencies will be among the topics at a fintech conference in San Francisco.
Coinbase to Launch Ethereum Classic This Week

Coinbase plans to begin allowing customers to buy and sell ethereum classic this week, the cryptocurrency exchange said in a blog post Friday.

The post said Coinbase’s engineering team was beginning final testing of support for ethereum classic and that it expected to complete the process by Tuesday.

Coinbase plans to allow 24 to 48 hours of inbound transfers through its Coinbase Pro and Coinbase Prime platforms before enabling trading.

The exchange on June 11 announced its plan to support ethereum classic. The news raised eyebrows because Coinbase chose to add the currency ahead of some larger cryptos. Ethereum classic was trading at $17.28 at about 7:00 a.m. EDT Monday, up 3.7 percent from the day before.

IDAP to Kick Off ICO

Cryptocurrency derivatives exchange IDAP plans to launch an initial coin offering for its utility token this week. The company has already sold more than 150 million tokens in a presale.

The ICO will begin Tuesday, according to CoinSchedule, which gives IDAP a trust score of “B.”

Total supply will be capped at 1 billion tokens, which will cost 3 cents each and run on the Ethereum blockchain, according to IDAP’s website.

The company’s derivatives trading platform will offer hedging options for investors, including futures, options and swaps. The exchange, which is expected to go live later this year, also supports spot trading, person-to-person lending and ETFs.

San Francisco Conference to Focus on Fintech in Latin America

The M2Banking & Fintech Latam 2018 conference takes place in San Francisco this week, and cryptocurrencies and blockchain technology will be part of the discussion. The conference will explore how financial technology can help Latin American financial institutions.

Among the scheduled speakers is Eric van Miltenburg, senior vice president of business operations at blockchain company Ripple. And one session will look at the state of cryptocurrency regulation in Latin America.

The conference also will host a startup challenge for companies focused on Latin American and hispanic markets. Digital currencies and blockchain are among the areas that entrants can be focused on.

Last Week’s Top News
EU Group: Blockchain Hindered by Privacy Protection Rule
A European Union group says the region’s new regulation protecting data and individual privacy could hinder blockchain technology.

The EU Blockchain Observatory and Forum of the European Commission, the EU’s regulatory body, has warned that the General Data Protection Regulation covering all EU member nations isn’t clear when it comes to blockchain and personal data. The regulation went into effect about two months ago. Read more here.

Report: Expect 2019 to Be Year of Blockchain Retrenchment

Spending on blockchain this year has eclipsed last year’s figure. But next year will be one of retrenchment as corporations “get smarter about their needs, regulators catch up and the bad ideas start to peter out.”

That’s one of the conclusions of One World Identity’s “Blockchain and Identity in 2018: A Year of Promise and Pilots” report. Read more here.

Nobel Prize-Winning Economist Joins Blockchain Startup

Oliver Hart, who shared the Nobel Prize in economics in 2016, will join the Prysm Group as an adviser. A specialist in contracts, Hart will help the company make sure its clients get what they expect from their smart contracts. Read more here.
Michelle Rama-Poccia
Michelle Rama-Poccia has written financial news since 2001, covering everything from Latin American debt capital markets to the U.S. credit crisis. She began her career on the enterprise desk at Dow Jones Newswires, and was an editor and producer for Thomson Reuters before her stint as Fast Money, Strategy Session and Options Action producer at CNBC. Most recently, Michelle has worked as a contributing editor for TheStreet.com.