ECB meeting is on the agenda. Will the EUR get weaker?
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.
The news that opposition lawmakers plan to stop Boris Johnson to leave the European Union without a deal increased the political uncertainties in the UK.
The level of non-farm payrolls (NFP), also known as non-farm employment change will be published on September 6, at 15:30 MT time.
The retail sales for the US in focus today
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
The USA will publish the level of retail sales and core retail sales on September 13, at 15:30 MT time.