Established Fidelity, a virtual currency industry group in the United States

[New York] Fidelity Investments, a major US asset management company, and Square, a US payment service, announced on the 6th that they have established an industry group for crypto assets (virtual currency). In addition to disseminating education on virtual currencies, encourage governments to formulate rules that will lead to the expansion of the virtual currency market.

The newly established “Crypto Council for Innovation (CCI)”. Four companies have joined: Fidelity Digital Asset and Square, a Fidelity subsidiary, Coinbase, a US cryptocurrency exchange, and Paradigm, a US investment firm. CCI told the Nihon Keizai Shimbun that it plans to form a board of directors that includes representatives of the four companies.

According to the data of Coin Gecko, the market capitalization of the world’s virtual currencies such as Bitcoin, Ethereum and Tether reached the 2 trillion dollar (220 trillion yen) mark for the first time on the 5th. While the interest of institutional investors and companies is increasing, there are many negative views among regulators regarding the use of overheated cryptocurrency transactions and settlements.


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