Recent cryptocurrency news

[Clint]

In the UK, the FCA is “looking at a full ban on crypto related CFD trading for retail clients.”

Further, “in its view cryptoassets have no intrinsic value and investors should therefore be prepared to lose all the value they have put in.”

Read more at LeapRate, here:

FCA / HM Treasury look at cryptocurrency CFD ban in new taskforce report

The FCA’s new motto:

We are Her Majesty’s Nanny Regulator.
No regulator in the US or in the EU
is going to out-Nanny us, by god!

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Meanwhile, Chinese courts have ruled that cryptocurrencies are property, not currency.

However, they say that cryptocurrencies have economic value and can bring economic benefits to their owners. Further, there are contractual obligations associated with owning and transferring digital assets.

Read more at LeapRate, here:

China - cryptocurrency is property, not currency

[forexforexforex]

Thanks for sharing.

My favorite line form the CFD ban article:

Key risks include: harm to consumers and market integrity, the use of cryptoassets for illicit activities and potential future threats to financial stability.

[Clint]

Two U.S. congressmen propose a new bill to
exempt cryptocurrencies from securities laws

U.S. congressmen propose new bill to exempt cryptocurrencies from securities...

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I don’t think there’s much of a chance that this bill will be enacted into law.
But, it will be interesting to watch further developments.

[Clint]

IMF chief Christine Lagarde takes a position contrary to the Fed
on the subject of central bank cryptocurrencies

Fed officials not keen on IMF idea for central bank digital currencies

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Quote:

• "Having central banks issue digital currency can bring about financial inclusivity, better security and consumer protection, as well as allay privacy concerns.

• “Digital currencies are likely to become more convenient to use and integrated with social media. They will be readily available for online and person-to-person use, including making micro-payments. And of course, we expect it to be cheap and safe, protected against criminals and prying eyes. Identities would not be disclosed to third parties or governments unless required by law.”

Christine Lagarde

[A1lenTrader]

I see crypto’s similar to pirate bay dodgy dodgy dodgy hope your 1btc don’t turn into 0.00001 btc.
Cash is king and always will be.

[sebastiano]

@A1len Trader I see your point. Although I am fond of cryptos and see them as the future, we cannot deny the fact that cash gives people some independence and privacy. Virtual money can be easily wiped out or traced by the government if somehow they find you “suspicious”, there is no way out…

[mlawson71]

The Financial Services Agency (FSA) in Japan may approve exchange-traded funds (ETFs) that track crypto assets, although earlier this year the regulator abandoned plans to legitimize other crypto derivatives like futures and options.

The hope shared by many analysts is that such a decision will help revive the crypto market, suffering the worst selloff in a year, by attracting institutional investors.

Currently FSA is assessing the potential interest in crypto currencies tracking ETFs.

[Clint]

LeapRate reports that India is attempting to outlaw cryptocurrencies

This country is forcing citizens to promise not to use Bitcoin