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Hacked Japanese cryptocurrency exchange Coincheck is to accept a takeover offer from online brokerage Monex Group, a news report indicates.
Hacked Japanese cryptocurrency exchange Coincheck is to accept a takeover offer from online brokerage Monex Group, a news report indicates.
Japan is a very important region when it comes to cryptocurrency and blockchain. It now seems the country is preparing to accept initial coin offerings as well. Local legislators have unveiled guidelines for ICOs. This may very well set a global precedent for all other countries around the world as well. The Initial Coin Offerings…
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Japan is a very important region when it comes to cryptocurrency and blockchain. It now seems the country is preparing to accept initial coin offerings as well. Local legislators have unveiled guidelines for ICOs. This may very well set a global precedent for all other countries around the world as well.
With so many initial coin offerings taking place, there are a lot of concerns to take into account. A lot of these projects don’t adhere to any specific guidelines. Instead, they are either legitimate or a complete scam. For the average investor, it is difficult to distinguish between the two as of right now.
Without proper guidelines, things will not improve anytime soon. Several companies are flagged by the SEC for issuing unregulated securities. The Centra issue is just the latest in a growing list of companies scrutinized by the SEC. Rest assured there will be others to follow suit in this regard. Thankfully, it seems we may have some guidelines for initial coin offerings in the future.
Japan is leading the charge in this regard. The country is also one of the few to officially recognize cryptocurrencies as legal tender in recent years. It is only normal they see merit in the ICO concept, even though it poses significant risks as well. Addressing those concerns is the number one priority in the country. With basic guidelines now in place, things look good for this nascent industry.
Legalizing initial coin offerings is a remarkable decision by Japan’s regulators. The region set up a study group to examine the risks and benefits of this business model. Their new set of proposed rules mainly focuses on identifying investors. Additionally, the prevention of money laundering is also a top priority.
One of the big problems with initial coin offerings is transparency. Investors often cannot track the progress made by a project team. Japan’s new rules aim to address that problem by making progress tracking mandatory. All of these changes sound positive for the industry as a whole.
For now, the proposed rules will be reviewed by Japan’s FSA. Depending on how they view these rules, they may effectively be turned into law moving forward. It is evident Japan is rather open-minded when it comes to cryptocurrencies and initial coin offerings. This is quite different from other Asian countries such as China, South Korea and more recently Thailand. Whether or not things will turn around in these countries, remains to be determined.
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Arizona’s governor has signed a new bill into law, enabling corporations to legally store information on a blockchain-based platform.
Arizona’s governor has signed a new bill into law, enabling corporations to legally store information on a blockchain-based platform.
Key Highlights Ethereum classic price declined and retested the last swing low near $13.00-13.20 against the US dollar. There was a break below a connecting bullish trend line with support at $14.30 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is currently correcting higher, but upsides are likely to…
The post Ethereum Classic Price Technical Analysis – ETC/USD’s Upside Remains Capped appeared first on NewsBTC.
Ethereum classic price failed to gain momentum against the US Dollar and Bitcoin. ETC/USD remains bearish as long as it is below $15.00
There was a short-term upside move towards the $15.00-15.20 levels recently in ETC price against the US dollar. The ETC/USD pair failed to move above the $15.20 resistance and started a downside move. It declined and traded below the $15.00 and $14.80 support levels. Moreover, there was a close below the $14.50 level and the 100 hourly simple moving average.
During the decline, there was also a break below a connecting bullish trend line with support at $14.30 on the hourly chart of the ETC/USD pair. The pair traded towards the $13.00 handle and formed a low at $13.15. At the moment, the price is recovering and testing the 23.6% Fib retracement level of the last decline from the $15.19 high to $13.15 low. However, there are many barriers on the upside near the $14.50 level. The 100 hourly SMA is positioned near 50% Fib retracement level of the last decline from the $15.19 high to $13.15 low.
Therefore, the $14.50 level may perhaps act as a strong hurdle. Above $14.50, the price may retest the $15.00 level. On the downside, the price may retest the last swing low of $13.00. A break below $13.00 could ignite further declines towards $12.00.
Hourly MACD – The MACD for ETC/USD is slightly moving in the bullish zone.
Hourly RSI – The RSI for ETC/USD is moving higher towards the 50 level.
Major Support Level – $13.00
Major Resistance Level – $15.00
Charts courtesy – Trading View
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