Just as investors though the cryptocurrency market is up and running with full speed ahead, Monday proved to be a difficult day for the crypto "maniacs" with most alt coins well in the red. Bitcoin is down with 9% for the day up until now, trading at $10,337, according to CoinMarketCap. The table below gives…
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It's been a pretty dark week for the cryptocurrency market. Bitcoin just dropped with $1,300 in 1.5 hours. Other cryptos, such as Ethereum, Ripple and almost all other alt coins are plunging with lightning speed this week. Bitcoin is currently trading at around $11,000, which is a major blow to the value of the "people's…
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After coming with a decision to ban cryptocurrency trading, South Korea may be now reconsidering its decision. The country's government just came out with a statement saying that the ban will be enforced once enough consultation and opinions are coordinated and taken into consideration. According to the South Korea's news agency YonhapSoutht the South Korea's…
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The crypto market is rumoured to reach 10% of the world GDP by five to 7 years, thus booming to around $7 trillion in market capitalization. With the current growth of digital currencies, some of the heat is coming off with Korean banks trying to block virtual accounts. The Korean government is working to phase…
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The Financial Industry Regulatory Authority (FINRA) has issued an Investor Alert warning investors to beware of potential stock scams when considering the purchase of shares of companies that tout high returns associated with cryptocurrencies, such as bitcoin. Unrealistic predictions of exponential returns and unsubstantiated claims made through press releases, spam email, telemarketing calls, or posted…
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The Monetary Authority of Singapore (MAS) advised the public to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies. MAS is concerned that members of the public may be attracted to invest in cryptocurrencies, such as Bitcoin, due to the recent escalation in their prices.…
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The Hong Kong Securities and Futures Commission (SFC) today issued a circular which cautions investors of the risks associated with Bitcoin futures contracts and other cryptocurrency-related investment products and reminds financial service providers of the legal and regulatory requirements when they target customers in Hong Kong. The circular notes that futures and commodities exchanges in…
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In view of the rapid appreciation in value of Bitcoin in recent weeks and its volatility, the Autorité des marchés financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) have reminded of the risks associated with investing in these speculative assets. Bitcoin is one of the speculative assets, sometimes wrongly referred to…
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The UK Financial Conduct Authority (FCA) has just issued a warning about the risks of investing in cryptocurrency CFDs. The complete text of the regulator's warning can be seen below: Contracts for differences (CFDs), including financial spread bets, with cryptocurrencies as the underlying investment are increasingly being marketed to consumers. These products are extremely high-risk,…
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After banning domestic exchanges from trading bitcoin and cryptocurrencies, the People's Bank of China may be thinking of developing a domestic currency after all. China seems to be eager to join the "cryptocurrency hype", especially after the total market capitalization of digital currencies hit $200 billion, with the major driver being Bitcoin, which surpassed the…
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