Digital coins are mixed

Digital coins are mixed

On Thursday, digital currencies showed mixed performance, with slight price movements in both directions.  

Investors took another shot at cryptocurrencies. An international banking watchdog, the Basel Committee on Banking Supervision drew attention to the threat that digital coins pose to financial institutions as well as financial stability. By the way, the BCBS turns out to be a committee of banking supervisory authorities underpinned by the Bank for International Settlements, with up to 60 of the world’s key financial institutions as members.

As the BCBS told, the ongoing surge of crypto-asset trading platforms along with new financial products related to digital coins has the potential to lift financial stability worries and spur risks faced by banks. He added that digital coins have failed to provide the standard functions of money. What’s more, from his point of view, they aren’t safe to rely on as a store of value or medium of exchange.

However, digital coins didn’t react much to that warning.

Bitcoin headed south by 0.08%% in Asia coming up with $3,873.1. As for Ethereum, it went down by about 0.48% showing $132.15. Litecoin dived by 0.40% hitting $55.91. Besides this, XRP rallied by nearly 1.24% reaching $0.31397.

Crypto enthusiasts also noted Russia’s adoption of fresh digital rights legislation that this country’s legislative body approved in October. The fresh legislation determines how digital rights should be exercised and transferred. Moreover, it formulates rules for digital transactions, in particular, contracts.

Vyacheslav Volodin, State Duma Chairman told that the digital rights law creates the foundation for the development of the Russian digital economy.

In general, Russia is rapidly embracing crypto solutions. It’s believed that a crypto bill is going to be approved by the end of March. Moreover, Russia’s leader has ordered that crypto regulations come into effect by July.

Similar

Where is Dogecoin?
Where is Dogecoin?

Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera