Bitcoin in Brief Saturday: Spanish Parties Back Crypto Draft, Slovenia Adopts Crypto Action Plan

All parties represented in the Spanish Congress have voiced support for a new draft legislation introducing favorable crypto regulations in the country. We’ve covered the details in today’s edition of Bitcoin in Brief. Also, Slovenia adopts a crypto action plan, Estonia drops plans to issue a national cryptocurrency, and Hungary claims it’s ready to join the global blockchain market.

Lawmakers in Spain, who have earlier this year reviewed proposals to introduce incentives for crypto companies, have now issued a unanimous call for adopting regulations that favor the implementation of crypto and blockchain technologies. These should be introduced to the market “through controlled testing environments.” A draft legislation aimed at achieving the goal, proposed again by the ruling People’s Party, has just won support from all parliamentary groups in the Finance and Public Function Committee of the Spanish Congress.

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CryptoKitties Charity Auction Raises $15K for Children’s Hospital

Bella’s Kitty Den, a marketplace for CryptoKitties, launched a charitable initiative – Kitties for a Cause – in April 2018 to raise funds for the Seattle Children’s Hospital, according to a medium post. The effort raised 21.6 ether tokens, or more than $15,000 at the time, in under three weeks, CryptoKitties told CoinDesk. At present prices, the 21.6 ethers would be worth closer to $13,000.

Users were able to bid on 370 different CryptoKitties donated to Bella’s Kitty Den, said Axiom Zen spokesperson Yasmine Nadery. Axiom Zen is CryptoKitties’ parent company, and helped the charity raise awareness with posts on its official Medium page.

Nadery told CoinDesk that the event ended on April 15, though it was originally scheduled to run through the entire month. In addition to the ethereum raised, $180 were donated to the hospital directly through the campaign.

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Dutch High School Exam Features Bitcoin-Themed Questions

Mathematics questions pertaining to bitcoin have been included in recent high school matriculation examinations in the Netherlands. Approximately 200,000 Dutch students are estimated to have taken the OVW exam, a mandatory test for students seeking tertiary education in the Netherlands, which included five bitcoin-themed questions.

According to a rough translation of the examination paper circulating on Reddit, students were given the following question introduction:

“Bitcoin is a digital currency that only exists online. It has existed since January 1st, 2009, and can be used as payment method in webstores and for other online services. Bitcoin is not, like standard money, made by a central bank. Instead, all bitcoin that exist are created by having computers participate in solving specific mathematical problems. This works as follows: everyone can run special software on his or her computer that participates in solving such a mathematical problem. The owner of the computer that solves the problem receives 25 (newly created) bitcoin as a reward. Because it was the case that in 2014 such a problem is solved every 10 minutes, 25 new bitcoins were created every 10 minutes. On January 1st, there were (approximately) 12.2 million bitcoin.

”Following from the preceding introduction, students were asked to solve five different mathematical problems.

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Crypto Is the ‘People’s Revolution,’ Says Investor Mike Novogratz

“This has been the people’s revolution,” Michael Novogratz of Galaxy Digital told the crowd at the Fluidity Summit in Williamsburg, Brooklyn on Thursday. “We have never had a market mania led by retail before.”

“I’m hoping yesterday marks the beginning of the institutionalization of crypto as an asset class, ” Novogratz said, because “big problems need big capital.” And Novogratz emphasized that he believes that crypto’s big impacts will happen at the street-level, where regular people do things like rent rooms, ride cars and pay each other to do work. “The decentralized revolution is going to have its biggest impact in the retail sense, ” he said, but to get there it will take the investment power of the big institutions. Describing recent meetings with staff at Deutsche Bank, the New York Stock Exchange and Goldman Sachs, Novogratz said he believes it is happening – and this year.

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Goldman Sachs to Open a Bitcoin Trading Operation

Goldman Sachs, perhaps the most storied name in finance, is moving ahead with plans to set up what appears to be the first Bitcoin trading operation at a Wall Street bank.

In a step that is likely to lend legitimacy to virtual currencies — and create new concerns for Goldman — the bank is about to begin using its own money to trade with clients in a variety of contracts linked to the price of Bitcoin.

While Goldman will not initially be buying and selling actual Bitcoins, a team at the bank is looking at going in that direction if it can get regulatory approval and figure out how to deal with the additional risks associated with holding the virtual currency.

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The 17 Millionth Bitcoin Is About to Be Mined: What It Means and Why It Matters

Bitcoin’s limited supply is about to get a bit more limited. Barring an unforeseen event, the 17 millionth bitcoin is likely to be mined in the coming day, data from Blockchain.info shows, a development that would mark yet another milestone for the world’s first cryptocurrency. That’s because as per bitcoin’s current rules, only 21 million bitcoin can ever be created.

Stepping back, the milestone, the first million-bitcoin marker to be crossed since mid-2016, is perhaps noteworthy as yet another reminder of the technology’s core computer science achievement – digital scarcity created and enabled by shared software.

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Blockchain Is ‘Going Mainstream’ Says European Commission Official

An executive from the institution tasked with overseeing European regulation is offering new praise for blockchain technology. In a speech on Tuesday, European Commission (EC) vice president Andrus Ansip went so far as to highlight distributed ledger tech, calling it one of “the areas where Europe is best positioned to play a leading role,” with the caveat that the continent needs to invest much more in its technology sector. During his opening remarks issued at the EC’s Digital Day 2018 in Brussels, he further asked the EU to “commit to Europe’s digital and data-based future.”

He told attendees: “[Blockchain is] now moving out of the lab and going mainstream. As with [artificial intelligence]: we should make the most of this new opportunity to innovate.”

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