Market Update 7.06.18 – Romania Regulates Issuance of Cryptos
Market News
Romania Regulates Issuance of Cryptos
The Romanian Ministry of Finance released a draft Emergency Ordinance regulating the issuance of e-money (electronic money). This draft describes e-money as monetary value that is stored electronically and which represents a claim on the issuer on the receipt of funds for the purpose of conducting transactions and which is received by a person other than the issuer of the funds.
This document also states that only entities with a share capital of a minimum of €350,000 (~$409,000) can issue e-money. Additionally, the entities’ members will be subject to approval from the BNR (Romanian National Bank).
Read more here.
Speed Trader Enters Crypto World
The largest trader of Exchange Traded Funds (ETFs) in Europe, Amsterdam-based Flow Traders NV is now entering the cryptocurrency world. The co-CEO of the speed trading firm, Dennis Dijkstra stated that his company was going to expand its range of trading products to include exchange trades notes (ETNs) that will be based on Bitcoin and Ether.
According to news reports, unlike US trading firms that offer cryptocurrency based futures, Flow Traders is going to be one of the first firms to reveal that it is buying and selling cryptocurrency based notes on traditional stock exchanges.
Find out more here.
Indian BJP Accused of Money Laundering Using Bitcoin
The ruling party in India, the Bharatiya Janta Party (BJP) has been accused by the opposition – big biggest political party in the country – the Indian National Congress (INC, also called the Congress Party) of using Bitcoin to launder money.
Local media reported that the Congress Party has alleged that the BJP has been converting “black money” into “white money” using Bitcoin in the western Indian state of Gujarat. The Congress Party has now called for a Supreme Court investigation into this matter. INC spokesperson, Shaktisinh Gohil, accused the BJP of laundering money the sum of which ranges between $727 million and $12.79 billion.
Find out more here.
Total Market Cap: July 06
The virtual currency market’s trading volume is now at $15.64 billion while its capitalization has dropped to $269.5 billion since yesterday.
Bitcoin Price Analysis: July 06
Bitcoin’s price fell by 0.68% to trade at $6638.80 per token today. The world’s number one crypto’s trading volume is at $4.89 billion and its value in the market is $113.89 billion.
Ethereum Price Analysis: July 06
ETH went down by 0.55% to trade at $473.95 per token. The digital coin’s volume of trade is currently $1.78 billion and its market capitalization is currently at $47.6 billion.
State of the Top 10 Cryptocurrencies: July 06
Nine out of the top ten cryptocurrencies slipped down in terms of both token price as well as market value in the past 24 hours. Stellar, Cardano and IOTA all fell more than 3%, while Ripple and Bitcoin Cash fell more than 2%. Tether – once again – was the only cryptocurrency in the top ten list that gained. The stable coin went up by 1% in trading today.
- Bitcoin slid 0.68%, trading at a price of $6638.80. The token’s market capitalization is $113.89 billion.
- Ethereum slid 055%, trading at a price of $473.95. The token’s market capitalization is $47.6 billion.
- Ripple slid 2.28%, trading at a price of $0.476732. The token’s market capitalization is $18.71 billion.
- Bitcoin Cash slid 2.32%, trading at a price of $739.81. The token’s market capitalization is $12.74 billion.
- EOS slid 1.77%, trading at a price of $8.86. The token’s market capitalization is $7.93 billion.
- Litecoin slid 0.83%, trading at a price of $84.26. The token’s market capitalization is $4.82 billion.
- Stellar slid 3.45%, trading at a price of $0.202323. The token’s market capitalization is $3.79 billion.
- Cardano slid 3.96%, trading at a price of $0.145971. The token’s market capitalization is $3.78 billion.
- IOTA slid 3.36%, trading at a price of $1.15. The token’s market capitalization is $3.20 billion.
- Tether gained 1%, trading at a price of $1.01. The token’s market capitalization is $2.72 billion.