- Switzerland wants to keep crypto-related companies inside the country
- Ukrainian Financial Stability Council supports a new digital currencies regulatory framework
- Samsung Stores will be accepting cryptocurrencies in the Baltic countries
In the last week Bitcoin was moving completely differently in comparison to other major digital currencies. What’s more, Bitcoin was the only one being able to keep its previous significant gains. Over the past 24 hours major cryptocurrencies were settling down. The capitalization of the whole market sits a notch above $290 billion while the capitalization excluding the most famous virtual currency stands above $155 billion. Today’s cryptocurrency-related reports come from Switzerland, Ukraine and the Baltic countries.
First of all, FINMA, a Swiss regulatory body, wants to keep inside the country cryptocurrency companies. FINMA encourages crypto companies to develop their businesses in Switzerland, The Swiss National Bank shares a more rigorous approach to these firms. SNB is concerned that crypto-related companies could breach money-laundering laws. It sets up strict requirements in access to a local banking system hence some cryptocurrency firms face some difficulties with opening bank accounts. Therefore, FINMA is afraid of a possible exodus of virtual currency companies. It’s been not the first time when Switzerland is making efforts to be a cryptocurrency haven. Notice that Switzerland wants to create a “Swiss Crypto Valley”.
BITCOIN was moving in the consolidation ranging from $7225 to $7475 at the end of the previous week. On Monday the most famous cryptocurrency is trading around a $7700 handle, and it is testing the resistance level localized slightly above the last week’s highs (an orange area) at the time of preparing of this analysis. A clear breakout of this level could result in the extended upward move. Source: xStation5
Ukraine is nearer and nearer to regulate cryptocurrencies. Digital currencies in this country, like in many other Central European countries, are still unregulated. However, Financial Stability Council, an Ukrainian body including many government representatives, has recently supported a new cryptocurrencies regulatory framework. The concept considers that certain coins and tokens could be treated as financial instruments. It might be the important step toward regulating the Ukrainian cryptocurrency market.
ETHEREUM is oscillating around its 8- and 33-period moving averages on a H4 interval (yellow and purple lines on the chart) at press time. The cryptocurrency with the second largest capitalization is moving like other altcoins. Source: xStation5
Last but not least, it is worth noticing that Samsung supports cryptocurrencies in the Baltic states. Customers will be able to buy some electronic devices via virtual currencies. Samsung Company’s stores in Tallin, Riga, Vilnius and Kaunas will be accepting seven cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Ripple or Dash. The Korean giant announced this information on Friday.
RIPPLE, just like Ether, is calming down. The digital currency is fluctuating in the vicinity of a $0.45 handle, and it is testing 8- and 33-period moving averages on the chart (yellow and purple lines). After the tumultuous week RIPPLE is taking a breath. Source: xStation5