ZAR: an intriguing speech
The South African Finance Minister is delivering a budget speech today. There may be a strong impact on ZAR, so what's going to happen?
Crypto assets head south as government shutdown affects Bitcoin ETF
On Thursday, crypto assets mostly dived in the face of the absence of major news.
Market sentiment worsened due to the fact CBOE Global Markets postponed plans to have a Bitcoin exchange-traded fund listed, referring to the impact of the American government shutdown on request-processing at the American Securities and Exchange Commission.
Eventually, Bitcoin slipped by nearly 0.37% on the Investing.com Index ending up with $3,562.8.
XRP decreased by 0.35% trading at $0.31598. As for Ethereum, this crypto asset inched down by 1.20% reaching $116.42. Besides this, Litecoin broke the major trend, soaring by 0.45% trading at 31.994.
The CBOE’s BZX Equity Exchange cancelled a request to have the Bitcoin ETF listed, which was backed by investment company VanEck as well as financial services firm SolidX. As VanEck representatives explained, after discussions with the SEC, including the Bitcoin-related issues, market manipulation, custody, and prices, they had to stop their initiative.
The project had actually driven expectations that regulatory approval of the Bitcoin ETF would lure more traders to digital currencies.
The given withdrawal turns out to be another setback on the tough way to broad public acceptance for crypto assets. Regulatory bodies around the globe are hesitant to officially approve investment vehicles as they struggle to create frameworks capable of controlling the extremely volatile industry and curbing illegal activity.
Some financial experts are assured that those businesses that apply for initial public offerings are bound to demonstrate great sustainability in running their business models.
South China Morning Post states that while his remarks were meant to have all applications for listings encompassed, they happened to be a response to direct questions of the everlasting process with the crypto miners Canaan Creative, Ebang International Holdings, and Bitmain Technology that all solicited listings in 2018.
Similar
The assets wrap: the best, the worst, and the most volatile
Let’s consider the best and the worst-performing assets as Monday’s session kicks in.
Coronavirus vs Forex: status update
Coronavirus pushse gold and currencies to where they have not been for years. What next?
Latest news
Important events on March 2-6
Coronavirus risks continue spreading. What the next week has for us?
What do billionaires think about the coronavirus?
With all the worries and uncertainties coming from the coronavirus news, let’s take a look at the opinion of the US billionaires
Coronavirus vs markets: status update
Coronavirus got out of China to terrorize the rest of the world. How to trade that?
Deposit with your local payment systems
