Cryptos rise in price

Posted 24 April, 2018

Bitcoin and other cryptocurrencies got stronger on Tuesday, with the market making notice of Malta's support for cryptos. At the same time, the position of India's authorities towards crypto market remains unclear.

On the Bitfinex, bitcoin changed hands at 2,218.9, while Ethereum, the second major coin was quoted at $675.2. Ripple was recorded at $0.90879 on the Poloniex; Litecoin was priced at $158.60.

According to the news reports, Malta's official highlighted that cryptocurrencies would be the future of money belongs to cryptocurrencies, which may give grounding for the global economy in the future.

In Malta exchanges and companies dealing with cryptocurrencies can get fair and fixed regulation, which is said to bring "legal certainty in a space that is currently unregulated'. As it was reported earlier, one of the major exchanges, Binance expressed intentions to relocate the business from Hong Kong just to Malta amid a favorable environment there.

Meanwhile in India, the authorities are working on the regulation for the crypto sector. However, the parties in the parliament fail to agree on the single path – it is remains unclear whether they will ban or regulate the sector. 

As the media reports read, India's Reserve Bank has no intention to fully ban these currencies. The opposite position has  Indian Special Investigation Team saying that bitcoin must be banned considering its use for drugs payments. 

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24 April, 2018 12:05

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