The main digital coin erased all the gains done after Elon Musk's February announcement. What are we heading into?
Bitcoin goes down
On Friday, Bitcoin along with other key crypto assets declined in Asia. It happened due to the fact that digital token protocol Basis ceased operations and had its capital returned to investors because of regulatory fears.
Eventually, Bitcoin inched down by nearly 3.08% showing a reading of $3,305. As for Ethereum, this digital currency sank too, losing 2.42% being worth $86.2.
Besides this, XRP declined by about 1.32% ending up with $0.29919. Additionally, Litecoin slipped by 3.35% concluding at $23.191.
Geared up towards launching a fully decentralized and stable token absolutely resistant to volatility, on Thursday Basis announced its decision to shut down and also return the invested funds to its owners.
The company actually explained that move by a strong negative impact of the necessity to comply with American securities regulation. Under these conditions Basis doesn’t know how to dodge security status for share and bond tokens, which is undesirable for the startup.
By the way, among the startup’s investors there are Bain Capital Ventures, Silicon Valley venture capital firm Andreessen Horowit, and Google’s capital investment arm GV.
Despite some recent regulation hazards and clampdowns, some countries are still interested in driving crypto assets.
In addition to this, the Gulf Times informed that the key financial institution of the United Arab Emirates is actually working on a joint project with its neighbor, the Saudi Arabia Monetary Authority with the aim of launching a digital coin their for cross-border transactions.
Moreover, French politicians also urged the country’s leader to invest up to EUR500 million in the blockchain sector. On Wednesday, they came up with a report on the ledger technology that proposed to make their country a “blockchain nation.” They are assured that in the nearer future blockchain will drastically change the world, and in particular, France.
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Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!