Cryptos Stuck Amidst Nations Launching and Banning Them

NASSCOM clarifies its stance on cryptos, reopening of Bitcoin Max’s Bank accounts, FSDC plans a blanket ban on cryptos in India, cryptocurrency derivatives face threat in the U.K., Petro is up for public sale

  • Soon after the arrest of the second co-founder of Unocoin for the installing India’s first Bitcoin ATM, a report published on Hindu Business Live suggested that NASSCOM considers cryptocurrencies as illegal. However, NASSCOM soon tweeted clarified that they only quoted the stance of RBI on cryptocurrencies and it had nothing to do with their own perspective of the same.

It is law of the land and hence, we have to work with it. If we do not agree, we have to go back to the government and speak about why cryptocurrencies aren’t correct.

Nasscom president Debjani Ghosh to Hindu Business Live

  • Brazil’s Federal District Court ordered the reopening of the bank accounts entitled to the cryptocurrency exchange Bitcoin Max. The bank accounts were closed by Banco do Brasil and Banco Santander in the month of September without any explanation or warning. Be it that the banks fail to comply with the court’s order, a fine will be imposed upon both the banks.
  • A potential plan for a blanket ban on cryptocurrencies in India reflected in the report published of the meeting of Financial Stability and Development Council (FSDC) chaired by Arun Jaitley, India’s finance minister. The report read: The Council also deliberated on the issue and challenges of Crypto Asset/Currency and was briefed about the deliberations in the High-Level committee chaired by the Secretary (Economic Affairs) to devise an appropriate legal framework to ban the use of private cryptocurrencies in India and encouraging the use of Distributed Ledger Technology, as announced in Budget 2018-19.
  • Cryptocurrency-linked derivates face threat in the U.K. as the Financial Conduct Authority reported its plan to consult whether to ban crypto derivatives or not. Consumer protection and market integrity stand as the financial watchdog’s major concern in regard to crypto derivatives.

Although regulated, financial instruments that reference cryptoassets also produce some specific risks to consumers. Leveraged derivatives, such as CFDs and futures, can cause losses that go beyond the initial investment. The risk of trading losses can be exacerbated by product fees such as financing costs and spreads, as well as by a lack of transparency in the price formation of the underlying cryptoasset.

Cryptoassets Taskforce: final report, published by FCA

  • After much controversy and criticism, Venezuela’s Petro is finally up for public sale. Traders will now be able to directly buy Petro from the Superintendency of Cryptoassets and Related Activities (Sunacrip) through various fiat as well as cryptocurrencies. Petro was previously backed by only oil but a recent upgrade suggests that it is also backed by gold, diamond and iron.

Bitcoin

BTC
Price
8,744 USD -6.81%
Volume, 24h
3,497,717,274 USD
0.00%
Marketcap
153,922,072,217 USD
56%
Emission
84%

Related news

Bitcoin Dominance 90% in Reality? Satoshi Nakamoto | Rakuten | Bitcoin News

Bitcoin dominance has been growing a lot this year, but, is it a lot higher than everyone expects? Maybe even as high as 90%? This is something that Mattie will look into as well as three pivotal btc figures thought to be Satoshi. In addition, Mattie will talk about Rakuten launching its cryptocurrency exchange. ----------------------------------------------------------------------------------- Sign Up For Altcoin Buzz Newsletter Now: http://eepurl.com/dnIEz1 Visit our website: https://altcoinbuzz.io Connect with us on Social Media: Twitter: https://twitter.com/Altcoinbuzzio Facebook: https://www.facebook.com/altcoinbuzzio/ Telegram: https://t.me/joinchat/DLi8Ug8negQrbwYO-oqNRA ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: https://twitter.com/Altcoinbuzzio/status/1164430305920344064 Bitcoin Data Reveals Stark Ethereum, Litecoin And Ripple XRP Warning https://www.forbes.com/sites/billybambrough/2019/08/22/shock-bitcoin-data-reveals-stark-ethereum-litecoin-and-ripple-xrp-warning/#e9710e12e37e 3 pivotal Bitcoin figures thought to be Satoshi that you should know about https://twitter.com/Altcoinbuzzio/status/1164072584855425025 https://thenextweb.com/hardforkbasics/2019/08/21/bitcoin-figures-possible-satoshi-nakamoto-you-should-know Rakuten Sets Up Bitcoin and Cryptocurrency Exchange https://twitter.com/Rhythmtrader/status/1163419047494660098 https://www.altcoinbuzz.io/crypto-news/product-release/rakuten-wallet-launched-bitcoin-ethereum-and-bitcoin-cash-trading/ -------------------------------------------------------------------------------- #bitcoin #cryptocurrency #altcoin #altcoins #crypto #btc $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #crypto.com #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news Bitcoin cryptocurrency altcoin altcoins crypto btc $BTC bitcoin price ethereum electroneum enjin crypto.com cardano digibyte bitcoin news btc libra chainlink ripple xrp ripple Binance bitcoin news today crypto news Litecoin cryptocurrency news hpb high performance blockchain $xrp $enj $etn $ltc $dgb $ada NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
Altcoin Buzz

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.