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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.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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