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Digital currencies decline
On Tuesday, digital coins slumped in Asia due to the fact that the US Securities and Exchange Commission clamped down on ETF names, which could be potentially misleading traders.
As a matter of fact, Bitcoin went down by 2% ending up with a reading of $5,048.9. As for Ethereum, it slipped by 4.2% trading at $161.29. Additionally, XRP dived by 1.9% trading at $0.31919. Litecoin dipped by nearly 5.6% reaching $78.433.
In multiple occasions, the SEC has found out that blockchain was misleadingly utilized in some funds’ names and will currently refuse the term to be referred to in the title of any fund.
The watchdog told that issuers are allowed to utilize materially misleading or deceptive names under the Investment Company Act of 1940.
Besides this, the largest travel management company in Great Britain, Corporate Traveller will currently accept Bitcoin as a payment means, as follows from a press release on April 15.
The company told that they identified a soaring demand from their customers for a possibility to pay in Bitcoin for business travel bookings made by their travel consultants. So, they picked up BitPay in order to manage their merchant processing as they facilitate the whole process of getting BTC or BCH from the client and depositing cash into their account.
In addition to this, on Monday, French Finance Minister Bruno Le Maire told that France is going to urge the EU to have a regulatory framework adopted it approved the previous week.
A financial sector law, which came with regulations aimed at encouraging crypto issuers and investors to set up in France by providing them with some official recognition was passed in France the previous week.
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The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.