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Key points:
- The SEC sends back the Bitcoin ETF again, as it pushes the decision to February 2019
- The Japanese police see the Surge in the reporting of suspected cryptocurrency
- The bipartisan legislators in the United States look for cryptocurrency rules to protect consumers
- The G20 countries agree to regulate cryptographic activities
- ASIC miners downloaded to China after the collapse of Bitcoin prices
The US Securities and Exchange Commission once again delayed a decision on the approval of the first bitcoin ETF for listing on one of the major US markets. The SEC has repeatedly rejected the cryptocurrency ETFs citing concerns about market liquidity and investor security, and now has until February 27th to decide on VanEck's latest bitcoin ETF proposal. The proposal was presented for the first time by the money manager VanEck and the startup blockchain SolidX, who collaborated with the Cboe exchange at the beginning of this year. According to the SEC rules, a decision on the proposal can not be postponed further, which means the next notice must approve or reject the ETF.
The Japan National Police Agency revealed that between January and October of this year, it recorded 5,944 cryptographic exchange reports concerning suspected cryptocurrency transactions that could result in money laundering and tax evasion. . The figures reported by Jiji Press show that from 699 cases reported last year, the numbers have multiplied more than eight times, which the NPA sees as evidence that operators are taking their reporting obligations more seriously now.
Recently seen, the US Congress is becoming more serious about cryptocurrency. This week, members of the House have planned to introduce two bills to prevent fraud, protect consumers and ensure that the country does not lag behind as a leader. in the global digital class heritage. A bill directs the Commodity Futures Trading Commission to describe how price manipulation could happen in virtual markets, thus recommending regulatory changes. Another tries to keep the United States competitive in the global industry.
Globally, the G20 – the group of the 20 largest economies in the world – has agreed to introduce regulations on cryptographic assets (cryptocurrencies) to counter money laundering and financial terrorism. The decision was taken at the summit of the G20 leaders held on December 1, 2018 in Argentina. The regulations must be in line with the recommendations of the Financial Action Group (FATF). The G20 countries including the major economies – India, China, the United States, the United Kingdom and the EU – agree that international cryptographic standards are essential for sustaining sustainable growth. And that member countries will continue to commit to the full, timely and coherent implementation and finalization of the agreed financial reform program and the evolution of its effects.
With Bitcoin values falling more than necessary to extract them, the entire ASIC mining (an application-specific chip used for Bitcoin mining) hit a roadblock. Chinese cryptocurrency miners are now unloading their ASIC or selling it at dumped prices, according to reports. A recent video circulating on social media has shown that cryptographic miners sell their ASIC as waste.
Source: Coin360.io
Bitcoin (BTC)
Bitcoin is dissolving and is doing very quickly. The prices hit the highest point of USD 4,155.98 and the lowest point of USD 3,280.23 during the week. The most active trades, in volumes, with BTC on several pairs this week were, BitMex (24.14%), CoinBene (2.95%) and OKEx (2.45%)
Among the important news on Bitcoin, Hungry.dk, a Danish online takeaway food portal that handles orders from over 1,500 restaurants in Denmark, has started accepting bitcoins (BTC) as payment.
Ethereum (ETH)
Ether such as BTC is severely hit and is now below USD 100 levels. The top ethereum this week stood at USD 116.62 and touched the low of USD 83.47. The markets that were most active, in volumes, with ETH on several pairs this week were OEX (6.10%), EXX (5.65%) and LBank (3.90%)
Among the news circulating on Ethereum, the developers of Ethereum have decided to activate the Forcella di Costantinopoli on the cryptocurrency platform network at block number 7.080.000, however, this only occurs if the members of the community of Ethereum vote to go ahead with the update.
Ripple (XRP)
The XRP is still in second place while Ethereum continues to beat. At the top, this week XRP prices were $ 0.368598 and downward they traded 0.291351 USD. The most active trades, in volumes, with XRP on several pairs this week were Bitbank (10.78%), ZB.COM (9.78%) and OKEx (5.33%)
For XRP this week, American Express has praised Ripple's ability to process cross-border transactions "in a matter of seconds"
The Other Movers and Shakers
The other coins that entered the top and bottom this week according to the Coin Market Cap (available December 9th at 1:35 pm IST) were
Movers
- Veros – Shows an increase of 483.24%
- EvenCoin – shows an increase of 481.63%
- Lightpaycoin: shows an increase of 119.90%
Shakers
- Dignity – Showing a loss of 54.94%
- XinFin Network – Showing a decrease of 52.14%
- nOS – Showing a loss of 50.57%
What do you think the feeling of the cryptic markets would be like next week? Let us know your opinions on the same
Summary
Item name
Price analysis of cryptocurrency for the week from December 3rd to December 9th
Description
The SEC sends back the Bitcoin ETF again, as it pushes the decision to February 2019
The Japanese police see the Surge in the reporting of suspected cryptocurrency
The bipartisan legislators in the United States look for cryptocurrency rules to protect consumers
The G20 countries agree to regulate cryptographic activities
ASIC miners downloaded to China after the collapse of Bitcoin prices
Author
Nilesh Maurya
Publisher name
Coingape
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