The head of the Federal Reserve Jerome Powell will testify on the Semiannual Monetary Policy Report on Tuesday and Wednesday
Crypto assets inch down, Bitcoin keeps to $6,500
On Tuesday, crypto assets declined a bit, while Bitcoin kept to $6,500. Meanwhile, market participants kept digesting the recent wave of regulatory reports.
As a matter of fact, on the Bitfinex exchange Bitcoin headed south by 0.11% being worth $6,535.
With minor news flow on Tuesday, the number one crypto asset by market capitalization has slumped by 2% for the last seven days due to the fact traders considered recent regulatory measures in the cryptocurrency world.
News surfaced the previous week that the Financial Action Task Force, which is an intergovernmental organization established by the G7 to withstand money laundering, is going to publish its first regulations for crypto assets by June 2019.
As the FATF told, the fresh regulations will need every jurisdiction to regulate or license crypto exchanges as well as some firms in the proper way to provide encrypted wallets.
Marshall Billingslea, FATF governor stressed that the from time to time the regulator is going to conduct reviews just to make sure that countries are implementing the new regulations in the proper way.
In addition to this, the previous week the Chinese government uncovered plans to deprive blockchains of their long-lasting anonymity.
According to a draft policy from the the Cyberspace Administration of China, the regulations would apply to any China-based firm regarded as a blockchain information service provider.
The regulations suggest that blockchain service providers are obliged to register with the agency. They’re expected to provide their service types, names, industry fields as well as server addresses. The data would become available to anybody and reviews would be conducted by the CAC on a yearly basis.
Besides this, Ethereum declined by 1.38% hitting $203.56 for the last 24 hours. As for XRP, it decreased by 2.57% being worth $0.44792.
The United States will publish the non-farm employment change, also known as non-farm payrolls (NFP) at 15:30 MT time on February 7.
The level of non-manufacturing PMI for the United States by the Institute of Supply Management will be published at 17:00 MT time on February 5.
The Federal Open Market Committee will publish its meeting minutes on February 19, at 21:00 MT time.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
Tesla stock drops in premarket trades on Thursday. Why? See the article (it's short) and use it to your advantage.