It can be done

Small win day 

Over the last 24 hours, total market capitalization increased from ~214 billion to ~$223.2 billion, with most coins seeing gains in the ~2-6% range. 24-hour volume registered ~$63.4 billion.

BTC is currently trading at ~$8,270, up ~4.3% over yesterday. More consolidation going on at these levels. On the daily chart, RSI is at ~36, still indicative of significant bearish momentum. However, the MACD line has just crossed to the upside of the signal line. On the weekly chart, BTC bounced off its 50-EMA line and is now trading between its 21 and 50-EMA lines.  

Moving over 

Dubai's Department of Economic Development has announced its shift to a blockchain-based unified business registry platform (UBRP). 

The UBRP includes government entities like the Silicon Oasis Authority, the Dubai Electricity and Water Authority and the Dubai Multi Commodities Centre, and aims to reach 40 such institutions.

The UBRP boosts the ease of conducting business in Dubai and allows license issuers to regulate trade licenses and corporate registries. It is hosted on Dubai Pulse, a blockchain-as-a-service platform that comes under Dubai's smart city movement, Smart Dubai, and du, a telecommunications business.

2 is better than 1 

Nomura, Japan's oldest brokerage, has collaborated with LVC, the operator of Japan's most popular messenger Line. 

The partnership will create blockchain-based financial services and make use of Line's 81 million user base in the country, its robust user experience and the brokerages financial experience and skills. 

Despite Japanese regulators' cautious approach towards cryptocurrency after Mt Gox's collapse in 2014 and Coincheck's 2018 hack, the latest signals suggest that they are warming up to it.

Alternatives 

A worldwide trade association of publicly regulated exchanges, the World Federation of Exchanges (WFE), has strongly advised the U.K.'s Financial Conduct Authority (FCA) not to limit cryptocurrency derivatives for retail investors. 

Instead of banning the derivatives, the WFE suggested creating proper consumer protection, and offered various recommendations to build adequate regulations. 

Although the FCA is still on the fence regarding the restriction, it decided not long ago that leading cryptocurrencies are "exchange tokens", mainly "used as a means of exchange".

Blockchain term of the day - Mining pool

A setup where multiple miners combine their computing power to gain economies of scale and competitiveness in finding the next block on a blockchain. Rewards are split according to different agreements, depending on the mining pool. Another term for this is Group Mining.

Tutorial Tuesday - 'What is a Seed Phrase?'

In this week's Tutorial Tuesday, our friends over at Goodbit have created an educational video on 'What is a Seed Phrase?' Class is in session. Check it out here!

Special announcement - CoinMarketCap 'The Capital' Global Conference

Other news 

• Billionaire Russian oligarch Vladimir Potanin is launching his own palladium-backed cryptocurrency token based on Hyperledger Fabric and a tokenized commodities exchange.

• Leading South Korean convenience store chain CU supports blockchain payments app Chai.

• Ripple hosted its first yearly University Blockchain Research Initiative event with 200 participants at the University of California's Berkeley campus.

Crypto calendar  

13 Oct     - U.S. SEC's decision on the Bitwise Asset Management's Bitcoin ETF application, under the NYSE Arca exchange (final decision)

TBA         - Justin Sun's lunch with Warren Buffett

See you again tomorrow!

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