The following article was written by Alejandro Zambrano, Chief Market Strategist at ATFX UK. Cryptocurrency markets have enjoyed an excellent start to the year, and from the December low, the market value of the 5075 cryptocurrencies tracked by Coinmarketcap has risen from 166 billion dollars to 250 billion. Bitcoin, BTCUSD, makes up about 65% of…
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The cryptocurrency industry may be gaining worldwide recognition from top regulators and financial institutions. The global community, represented at WEF 2020, seems to be warming up to the crypto industry and steps are now taken to shape the sector and help it grow. The 2020 World Economic Forum that took place in Davos announced the…
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The financial regulator in Singapore, the Monetary Authority (MAS) has just announced the introduction of the Payment Services Act (PSA), which aims to serve as the new regulatory framework for cryptocurrency payments. The new framework will promote and boost the consumer confidence in transaction with digital assets, believes the regulator. The legislation was passed in…
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Huobi Group announced that it's expanding into brokerage services that target institutional investors in the cryptocurrency sector. The platform called Huobi Brokerage was unveiled during WEF 2020 in Davos. The new business line will become part of the Group's Global Institutional Business (GIB) that Huobi launched last November to monitor its institution-related businesses. The institution…
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Some celebrities do not waste time when it comes to utilizing cryptocurrencies to the maximum. One example is Akon. The singer is reportedly building a city powered by a coin named after himself - Akoin. According to Business Insider, the singer tweeted that he had finalized an agreement to actually build what is called "Akon…
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China is introducing a Password Law at the very start of 2020 to promote digital currencies and their adoption. The ultimate goal is to allow the technology of blockchain to thrive and set a legal framework for the issue of digital blockchain-based RMB. According to press, China passed a password law in 2019 (October) that…
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The President of Iran has proposed that Muslim countries adopt a cryptocurrency. President Hassan Rouhani commented that the domination of the US dollar has allowed economic sanctions to basically weaken economies. Thus, an action must be taken to neutralize this negative effect of the USD. The President of Iran has expressed his wish for a cryptocurrency…
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In the world of cryptocurrencies, fraud is a known phenomenon. After the crypto community saw several high-profile scams, the latest one is staggering by its volume - $722 million. According to press, 3 men were charged with a $722 million cryptocurrency scam that was essentially categorized as a high-tech Ponzi scheme. This is what U.S.…
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Amun AG is a Swiss fintech company that announced this Tuesday that it has gained approval from the Swedish Financial Supervisory Authority (SFSA) to offer crypto ETPs in the European Union. Amun offers ETP products (exchange-traded products) backed by either basket of cryptocurrencies or single cryptocurrency. The company currently has 10 of its products listed on…
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Steve Mnuchin is determined to become the proverbial “fly” in the crypto “ointment”. The head of the U.S. Treasury made it clear last July, when Facebook’s Libra project was taking a beating in Congress, that he is no fan or friend of cryptocurrencies. Whether it is his personal opinion or just agreeing with President Trump’s…
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