On Friday, the evergreen buck moderately rallied versus its counterparts, staying on track for posting consecutive weekly profits for the first time since November…
Crypto assets go down, as EU watchdogs consider ICO cases
On Tuesday, crypto assets sank due to the fact that the European bloc’s securities regulator told that it would carefully scrutinize every initial coin offering with the aim of determining whether it needs to be regulated or not.
As a matter of fact, on the Bitfinex exchange, Bitcoin inched down by 0.64% ending up with a reading of $6,629.50.
Crypto assets generally inched down, with the overall crypto market capitalization amounting to up to $218 billion in contrast with Monday’s outcome of about $221.
In addition to this, Ethereum, alternatively dubbed Ether, slumped by approximately 1.06% trading at $227.50. As for Litecoin, this crypto asset accounted for $58.824, heading south by 0.60%. Besides this, XRP declined by 3.81% trading at $0.47771.
On Monday, the European Securities and Markets Authority told that it would be taking a closer look at literally every ICO because the watchdog is eager to learn whether they fit into the EU’s current regulation or not.
Eventually, an ICO can be defined as a token, just like all-mighty Bitcoin issued to ramp up funds for small businesses. Watchdogs around the globe have already warned against investing in ICOs because Bitcoin as well as other crypto assets become more popular.
Moreover, Jay Clayton, US Securities and Exchange Commission governor told that ICOs need to be classified as securities. In the European bloc, watchdogs have already come up with a warning to retail investors.
Some financial analysts pointed out that some of these ICOs have much in common with financial instruments. Therefore, if they happen to be financial instruments, they should be naturally subject to the entire regulatory
The number one question here is what to do with all those Initial Coin Offerings, which are outside the regulatory framework.
Will we finally see any price action for Bitcoin?
On Thursday, digital coins declined due to the fact that JP Morgan uncovered its own crypto asset expected to help the well-known bank to settle payments between its customers…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…