#CryptoCorner; Hong Kong’s SFC Warns Against Crypto, Russia Clarifies Exchange Regulation and Market Remains Stable
#CryptoCorner; Hong Kong’s SFC Warns Against Crypto, Russia Clarifies
Exchange Regulation and Market Remains Stable
Point Roberts, WA, Delta BC – April 16, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
Crypto Corner – April 16, 2018
By Samuel Mowers at Investorideas.com
Hong Kong’s SFC Warns Against Crypto, Russia Clarifies Exchange
Regulation and Market Remains Stable
Julia Leung, deputy head of the Hong Kong
Securities and Futures Commission (SFC), warned against ICOs and crypto trading
in a speech at the
Hong Kong Investment Funds Association Luncheon on April 13. Leung discussed
the uncertainties of cryptoasset trading and how they may pose a risk to
investors:
“The high volatility of crypto assets and serious
hacking incidents in Japan and Korea in the past few months resulting in
hundreds of millions in US dollar losses should serve as a sharp reminder of
the risks associated with such trading.”
Leung also cautioned that many ICOs can take
advantage of blockchain technology to mislead investors without legal
consequence:
“Further complicating matters, many of these
fundraisings are dubious, if not downright frauds. The issuers escape the
scrutiny of the police or securities regulators because of their cross- border
nature and the way the crypto assets are structured to fall outside any
regulator’s perimeter.”
According to Russian cryptocurrency journal ForkLog, the Russian government has formulated a response to a draft bill “On
Digital Financial Assets”, wherein they detail exchange between fiat and
cryptocurrencies. The piece reports that exchanges equalling or exceeding 600
thousand rubles, or roughly $9600 USD, will be subject to regulation:
“... the bill "On Digital Financial
Assets," which states that "the exchange of crypto-currencies for
monetary units in the amount of 600 thousand rubles or more must be subject to
mandatory exchange control."”
The crypto market appears to be holding on to its
modest recovery from late last week. Bitcoin (BTC) is staying at around $8000 USD at press time, after reaching
a peak of about $8400 USD earlier today. Some speculate that the market will rally after U.S. tax day tomorrow, as investors
have been selling off crypto to pay their taxes and will once again be able to
buy afterwards.
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of
cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD).
By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders
to seamlessly exchange their cryptocurrency for US dollars and store that value
on a contactless payment device that can be used to make purchases at millions
of retail locations. https://www.fliptopay.com/
Investorideas.com is a leader in Blockchain content
with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com
Join our LinkedIn Group Blockchain
and Digital Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073
Disclaimer/Disclosure: Investorideas.com is a digital
publisher of third party sourced news, articles and equity research as well as
creates original content, including video, interviews and articles. Original
content created by investorideas is protected by copyright laws other than
syndication rights. Our site does not make recommendations for purchases or
sale of stocks, services or products. Nothing on our sites should be construed
as an offer or solicitation to buy or sell products or securities. All
investment involves risk and possible loss of investment. This site is
currently compensated for news publication and distribution, social media and
marketing, content creation and more. Contact each company directly regarding
content and press release questions. Disclosure is posted for each compensated
news release, content published /created if required but otherwise the news was
not compensated for and was published for the sole interest of our readers and
followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: this newsletter is sponsored content by
featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip. More info: http://www.investorideas.com/About/News/Clientspecifics.asp
Cryptocurrency Disclaimer
Investorideas.com news content is not
meant to be a solicitation to buy or sell cryptocurrencies and
Investorideas.com does not directly sell cryptocurrencies; but acts as a news
and research resource for interested investors following the blockchain sector.
Contact Investorideas.com
800-665-0411
Comments
Post a Comment