• Russian Ministry of Finance decides to push back implementation of cryptocurrencies’ regulation to the next year
  • Bticoin (BTCUSD on xStation5) shrugs the Russian story off and strives to push forward
  • Macau announces implementation of the ban related to cryptocurrencies ordered by the Chinese regulators

We’ve already mentioned several times the Russian thread with regard to the cryptocurrency market. The situation has been quite blurry, as on the one side the government has been in favor of regulation of digital currencies while the central bank has begged to differ. Nowadays, it appears that a dispute has come to an end at least for the time being. Namely, the Russian Deputy Finance Minister told reporters earlier this week that the authorities decided not to introduce cryptocurrency regulation for now, due to lack of consensus. The announcement came on the heels of claims from the State Duma Committee that a draft bill on the regulatory framework for virtual currencies would be terminated in October. Even as this is a clear fiasco, Bitcoin buyers have not been affected thus far.

link do file download linkBitcoin plays down unfriendly reports coming from Russia and storms higher. Source: xStation5

A technical analysis indicates that Bitcoin may be on the way to its all-time high, a short stop might take place nearby $4400 though. Notice the price battered an upper limit of a channel which was underpinned by a local support zone and it might be on course to strike another checkpoint.

There is no doubt the Chinese crackdown on cryptocurrencies stole headlines of the most prominent business websites. The decision seems to begin taking its toll as the Monetary Authority of Macau has issued a statement prohibiting the territory’s financial institutions from providing financial services to businesses issuing virtual currencies or tokens. It’s worth underlining that Macau is an autonomous region of the Republic of China and is predominantly famous for its engagement in the gambling industry.

 link do file download linkIn the face of surging US yields gold prices have lost its appeal of late, this is not the case in case of Bitcoin though. In effect, a discrepancy has widened quite substantially suggesting that something could be out of whack. Source: xStation5

Other stories worth looking at:

  • Head of Chicago-based CME told Bloomberg they were not going to list Bitcoin futures in the very near future
  • The Australian Securities Exchange (ASX) expresses its interest in adopting blockchain technology which is to replace its existing solution