Crypto prices still directed downwards

Posted 25 October, 2018

The prices for cryptocurrencies decreased on Thursday driven by an uncertain market situation. Moreover, the market expert believes the industry will most likely keep drifting downwards since investors pay little attention to the market reports now.

Today, Bitcoin weakened to $6,549. Ethereum prices dropped to $204.54. XRP and Litecoin changed hands at 0.46251 and 51.710 respectively. The total market capitalization was recorded at $209.3 billion.

The cryptocurrencies are likely to keep weakening in the near term.

It is quite possible that the crypto market reacted to the message that Spain approved the draft bill that makes the players disclose all cryptos data and related transactions to the fiscal services otherwise they will face EUR 5,000 fine.

Meanwhile, in Germany, the Berlin appeal court determined that cryptos has no status of a financial instrument. As a result, such decision conflicts with the position of Germany's regulator making crypto regulation more complicated in the EU.

This week the Japan Virtual Currency Exchange Association became an official self-regulated organization in the market, which is believed to boost the attractiveness of the country's crypto segment.

Previous story

25 October, 2018 17:33

← Sony announces project for contactless hardware wallet

Sony has announced new contactless hardware crypto wallet.The R&D department of the global conglomerate Sony – Sony Computer Science Laboratories – reported about the development of new crypto wallet based on smart-card technology for communication with the cryptocurrency network. The company noted that their project has a strong advantage against other wallets – it does not require USB connection. IC card module stores encrypted private keys, while users can manage private keys for personal data use via blockchain.

Sony announces project for contactless hardware wallet

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25 October, 2018 15:18

Japan FSA to consider marginal trading limits →

Japan’s Financial Services Agency is about to set new marginal trading limits striving to prevent speculations in the crypto market. The authority considers the possible restriction of the marginal trading to 4-to-1. Notably, Japan has no specific rules for the marginal crypto trading, and in this context, some exchanges can set even 25 to 1 leverage rate. The regulator intends to put new regulation for discussion with the key market experts in the near term. Specifically, the Japan Virtual Currency Exchange Association already noted the need for marginal trading restrictions earlier. For now, 7 out of 16 licensed exchanges in Japan reportedly offer marginal trading services.

Japan FSA to consider marginal trading limits
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