The BTC value rose sharply on Monday in a couple of hours. On some trading floors, its value has risen to $ 7,700. The analysts believe that the rise has occurred against the background of the fake news that Binance is going to delist USDT.
As a result, the USDT value has fallen. In some places, the difference between the USDT and other stable coins reaches 20%. Bitcoin added 10% to its value, but the main altcoins grew by 3-7%. ETH over 5%, BCH 4%, XMR 3%.
We would like to remind you that last week overnight the Bitcoin exchange value lost 5% due to the statement of the Federal Reserve System (FRS) of the United States that the key rate will be increased. After that, the major US stock indexes fell sharply on the basis of trading. The fall in trading also influenced the cryptocurrency value, in particular, Bitcoin lost 5% overnight, 9% Litecoin, Ethereum and Bitcoin cash 10% of its value.
At present, the leading cryptocurrency is trading at $ 6,620, almost returning to the values of trading before its sharp fall last week.
In particular, this will affect the organizations which work with Forex, ICO and cryptocurrencies.
Already this spring, MasterCard considered these areas to be a high risk activity and set the period of opposition to the transaction by the issuing bank at 540 days. Then the same framework was set for the customers VISA.
Now the changes concern the operators who are with an uncertain regulatory field – these are the offshore and other unregulated companies. Some brokers and exchanges have already informed the clients about the temporary suspension of payments from the payment cards.
The changes for the MasterCard cards entered yesterday (on October 15), but for the VISA cards – will be adopted in December.
Dmitry Peskov, the special representative of the President of the Russian Federation for digital development, in an interview to the channel “Russia 24” announced about the intentions of Russia to implement the regulation of cryptocurrency in partnership with the intergovernmental organization against money laundering FATF (Financial Action Task Force).
Peskov pointed out that one of the main features of virtual money is their global nature. He explained that they were intentionally designed so as not to fall under the national regulatory tools. Therefore, the Russian authorities have concluded that it is necessary to act jointly by global regulators. The choice fell on FATF, since the risk of financial pyramids, as well as uncontrolled emission of cryptocurrency, is too great.
The representative of the president does not exclude the possibility of creating a separate direction of law for this sphere, drawing parallels with the antitrust regulation.
FATF is expected to develop official standards for cryptocurrencies at the end of this year. The Russian authorities are planning to adopt these recommendations aimed at combating the laundering of illegally obtained capital in cryptocurrency markets. However, Russia has yet to finalize its own laws relating to digital assets.
emCash is the first cryptocurrency of Dubai. It is based on the blockchain technology and is equivalent to a UAE dirham. By using emCash it will be possible to make payments in stores, to pay utility bills and pay for education. The UAE regulators are planning to issue digital money in free circulation.
The residents of the city will be able to pay for services and goods through special PoS-terminals. The Dubai Economic Development Department has entrusted the promotion of national virtual money to the emCredit credit bureau. emCredit, in its turn, will carry out the task in partnership with the payment card operator Pundi X and the EboocFintech& Loyalty Labs.
However, before reaching the end user, the entire emCash ecosystem must receive an official approval from the regulators. For this reason, the cryptocurrency system, the special applications for mobile devices and PoS-terminals will be thoroughly tested. It must be noted that the launch of widespread use of emCash successfully coincided with the implementation of the state program of the Ministry of Finance of Dubai, which is aimed at launching a payment blockchain platform that will unite more than 38 government agencies, financial organizations and other institutions.
Thus, Dubai will become the first city in the world to provide its residents with solutions based on the blockchain technologies in wide access. As the emCredit management pointed out, the new tools will provide the citizens with convenience and will ensure the safety of both buyers and sellers.
As Matthew Allen, the deputy director of internal operations for the United States Immigration and Customs Police (ICE), pointed out the criminals are particularly defenceless when converting cryptocurrencies into fiat money.
In particular, he expressed this opinion during the speech in the Senate, describing the use of cryptocurrency by drug traffickers and the success of the unit in tracking transactions of digital assets of the criminals in money laundering.
“At the darknet markets and other “non-indexable” sites, the purchases are often paid for using cryptocurrencies, like Bitcoin and Monero,” explained Allen.
Usually, the cryptocurrency exchanges and p2p platforms, as well as the ICO projects, can be used for money laundering, the policeman pointed out.
The sum of $ 5.7 million was spent on the analytics of transactions in cryptocurrency in the United States, of which $ 1.5 million was paid to the ICE analytical companies.