Prices for cryptocurrencies decrease on reports from Japan and France

Posted 23 March, 2018

Prices for cryptocurrencies have decreased at the end of the week driven by the rumours that Tokyo sent a notice to Binance, while France authorities consider legislation for crypto fundraisers.

On the Bitfinex, the major digital currency bitcoin changed hands at $8,454 (the session bottom – $8,375) whereas Ethereum, top-2 coin, was priced on this platform at $517.62. Ripple and Litecoin also got lower, coming to $0.62640 and $159.50 respectively.

According to the mass media, one of the reasons behind weaker positions of the cryptocurrencies lies in the news that Japan’s Financial Services Agency sent a notice to the Binance exchange citing unlicensed activities on the platform and need to pass certification for running in Japan.

Meanwhile, Paris is thinking about possible ruling for ICO, as the country is willing to become the working center for digital fundraisers, the reports read.

“France has every interest in becoming the first major financial center to propose an ad-hoc legislative framework that will allow companies initiating an ICO to demonstrate their seriousness to potential investors,” Finance minister Bruno Le Maire commented in his letter.

Le Marie believes that blockchain technology may become a strong option for local startup companies to get financing thanks to ICOs. He commented that the proposal will cover authorization of AMF to issue tokens for fundraising, so this process will naturally have its own requirements in order not to leave investors unprotected.

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23 March, 2018 17:07

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