Day: July 3, 2019

FCA’s Ban on Crypto Financial Instruments Affects UK Retailers

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Earlier today, the UK’s market regulator, the Financial Conduct Authority (FCA), announced a proposal that would ban financial instruments linked to digital cryptocurrencies. The regulator has warned that such instruments using cryptocurrencies could incur huge losses for retailers who don’t understand the great risks associated with using them. The FCA’s Ban Proposal The FCA is targeting products such as derivatives and exchange-traded notes (ETNs), in particular, but it is also suggested that crypto-assets themselves simply didn’t suit small investors. It cited cryptocurrencies’ “extreme volatility,” ambiguous value, and the lack of public knowledge…

FCA’s Ban on Crypto Financial Instruments Affects UK Retailers

boss

Earlier today, the UK’s market regulator, the Financial Conduct Authority (FCA), announced a proposal that would ban financial instruments linked to digital cryptocurrencies. The regulator has warned that such instruments using cryptocurrencies could incur huge losses for retailers who don’t understand the great risks associated with using them. The FCA’s Ban Proposal The FCA is targeting products such as derivatives and exchange-traded notes (ETNs), in particular, but it is also suggested that crypto-assets themselves simply didn’t suit small investors. It cited cryptocurrencies’ “extreme volatility,” ambiguous value, and the lack of public knowledge…

French Regulators Notice Uptick In Crypto-Related Complaints

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French financial regulators have observed an increase in complaints regarding cryptocurrencies this year. Investors in the country are increasingly filing complaints about digital currencies with France’s Financial Markets Authority (AMF) since January 2019, according to the AMF’s 2019 Risk Map report published on July 2. Percentage of claims to AMF regarding crypto assets. Source: AMF      The Risk Map analyzes the major factors that have an impact on the country’s financial markets along with associated risks.  At the same time, 2019 has reportedly seen a drop in the number of enquiries…

Ethereum (ETH) Struggles to Hold $300 Mark

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Ethereum (ETH) is the second biggest cryptocurrency in the world in terms of market cap, and during the course of the Bitcoin rally, it has had its ups and down as well. Bitcoin has seen wild price swings this year; its price has risen over 220% since January. Well, Ethereum has also witnessed crazy price movements. Wild Moves Ethereum has seen plenty of action in the past month, when it hit a monthly low of $226 and a high of $360. Right now, it is trading at $294. Talking about…

US a Crypto Exchange Scarecrow — What Needs to Change?

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America is the land of opportunity, so long as you don’t happen to be a cryptocurrency exchange. For several years now, a number of prominent exchanges have opted not to serve U.S. citizens; in fact, the list of trading platforms avoiding the U.S. is still growing, with Bancor recently announcing that it would block U.S. citizens from using its website to convert tokens. As can be guessed, regulation — or rather, the lack of clear regulation — is the main reason why crypto exchanges are increasingly shying away from the U.S.…

Bitcoin (BTC) Price Rally And Recent Influx of USD Directly Correlate

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Bitcoin (BTC) adds 8.1 percent USDT minting correlates with USD expansion says, Jesse Powell Kraken CEO, Jesse Powell, is confident that there is no link between BTC prices and USDT minting. At the time of press, BTC is up 8.1 percent in the last day. Bitcoin Price Analysis Fundamentals Differentiating between “true demand” and speculation is hard. Critics are adamant that crypto assets are speculative and highly volatile. Although Bitcoin can be a perfect hedge against faltering traditional asset and increasingly embraced by fund managers, rapid price changes present a…

US Congress Requests Moratorium on Facebook’s Libra Stablecoin

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The United States House of Representatives Committee on Financial Services requested Facebook and its partners to stop the development of the Libra stablecoin. In a July 2 letter addressed to Facebook CEOs Mark Zuckerberg and David Marcus, and COO Sheryl Sandberg, the lawmakers request that Facebook and its partners immediately agree to a moratorium on the development of Libra and its dedicated Calibra wallet.  The committee claims that the project may lead ”to an entirely new global financial system that is based out of Switzerland and intended to rival U.S.…

Price Analysis 03/07: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, TRX, ADA

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Will bitcoin start the next leg of the rally and break out of $14,000? Let’s study the charts. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Galaxy Digital founder Mike Novogratz said that he is not selling his Bitcoin the next time it reaches $14,000 because he anticipates the next up move to…

Bullish Bitcoin SV Could Rip by More Than 100 Percent in Three Months

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With bitcoin getting the limelight, many crypto tokens, including its hard forks, have taken a back seat. Bitcoin SV, in particular, is not garnering all the attention it deserves, mostly due to the leading cryptocurrency’s hyper bullish sentiment but also partly due to Craig Wright’s publicity stunts. The founder of the latest bitcoin fork has claimed that he is the mysterious Satoshi Nakamoto. As a result, investors are distracted and many fail to see the tremendous bullish potential of Bitcoin SV. This is good news for those who focus on…

IBM Launches Blockchain Pilot for Bank Guarantee Processes

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Tech giant IBM has launched a pilot for a blockchain-powered platform designed to streamline bank guarantee process In a press release shared with Cointelegraph on July 3, IBM stated that the pilot was launched in partnership with four Australian financial services companies. The pilot — dubbed Lygon — is backed by IBM, the Australia and New Zealand Banking Group Limited, Commonwealth Bank, real estate operator Scentre Group, and Australia’s first bank Westpac. The pilot is set to run for eight weeks for a test group of retail property leasing customers…