Here we gathered the best and the worst performers of the week and the most volatile pairs .
Crypto assets head south on regulation talks
On Tuesday, Bitcoin as well as other crypto assets went down because Japan is all geared up towards urging the G20 to work out strict rules with the aim of preventing global money laundering of digital currencies.
Bitcoin showed an outcome of $9,005.50, heading south 7.99% on the Bitfinex having reached a minimum of $8,462.00 on Sunday. It has struggled to climb up having dived to $6,000 in February and the cryptocurrency is currently far from its maximum of $20,000 in December.
Other crypto assets inched down too, with counterpart Ethereum, the world’s number two digital currency by market share, diving 5.78% to $690.22 on the Bitfinex exchange. As for Ripple, the world’s number three crypto asset, it lost 6.44% being worth $0.76813. As for Litecoinwas it was last caught at $172.74, demonstrating a 9.92% slump.
Japan is going to urge G20 finance officials to step up efforts against crypto assets being utilized in money laundering. However, it’s unlikely that global rules are going to be successfully agreed on and the gatherings will instead pay attention to consumer protection as well as steps to prevent money laundering, as officials told.
The group of finance ministers as well as key bankers from 20 leading economies will meet on March 19-20 in Buenos Aires.
As crypto assets grow in popularity, watchdogs around the globe have struggled with how to supervise the digital currencies.
Japan appears to be the first country to oversee crypto trading. Germany and France are supposed to make a joint proposal to supervise the crypto market. As for Thailand, this Asian country’s considering imposing a 10% capital gains duty on crypto investments, as the Bangkok Report informed.
Meanwhile a ECB board member uncovered that Bitcoin along with other crypto assets turn to be excessively risky to be employed because legal tender could be utilized by policy makers for the purpose of settling payments among banks.
The European Central Bank will meet today to discuss the current monetary policy and the fate of the quantitative easing program
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.
The Facebook earnings report is coming at 00:00 MT time on January 30.
Apple earnings report is released at 00:00 MT time on January 29.
The US Fed Funds Rate announcement and Press Conference will be at 21:00 MT on January 29.