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Bitcoin and Cryptocurrency are trading in green with a trend for further regulation

2019-01-09 11:38 am | Resource: News | No Views : 73

Bitcoin and Cryptocurrency are trading in green with a trend for further regulation Bitcoin and other  Cryptocurrency rates continued to rise Wednesday despite reports of more encryption regulations.

Cryptocurrency trades
  • Bitcoin rose 0.98% to $ 4,002.4.
  • Ethereum  rose 2.54% to $ 150.83.
  •  The XRP rose 1.85% to $ 0.36456.
  • Litecoina rose 3.14% to $ 39.228.

A trend to regulate the futures contracts for digital currencies in Japan

The Japanese Financial Services Agency (FSA) has recently been thinking of trading futures for the petrochemicals and derivatives trading, but has hampered investors when they decided to block these types of instruments. Given the fact that Japan is one of the biggest markets for the clandestine operation, the decision to withdraw from this option alone separates the industry from the institutional investments that it can support. However, the concept of ETFs appears to be on the table, according to a "person familiar with the matter" who spoke to Bloomberg.

Bloomberg reports that the Liberal Democratic Party is planning to enter into a bill that would create amendments that would allow for ETFs by March of this year. The bill will bring self-regulatory oversight to the entire domestic industry, noting that ICOs are considered as bonds.

This bill will take effect until 2020 until it comes into force. However, the same report shows that the approval of commercial encryption derivatives on stock exchanges will not be present in the ballot for approval. If so, the FSA believes speculative will be the main issue of concern.

Local regulators in Japan were stricter about how the cryptocurrency operated after the penetration against the currency exchange a year ago. At that time, hackers succeeded in stealing more than half a billion dollars in an unknown currency. However, their interest in exchange-traded funds will help attract institutional investors and capital to the industry, which is not supported by all market observers.


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