The Bank of Lithuania Probes 100 Million Euro ICO

Last week Lithuania's central bank informed that it is probing a domestic ICO after determining that the token offered counts as a security  
19 February 2018   1320

According to the statement, The Bank of Lithuania contacted with blockchain banking firm Bankera regarding its token sale. The sale was advertised on two websites and raised over 80 million euros. Currently, ICO's official website claims that it has raised more than 100 million euros.

The bank considers that the token sale constitutes an offering of securities under state law.

In addition, the ICO distributes its authorized cryptocurrency and has already attracted more than 80 million euros. Taking into account the features set out in the heading and based on the information provided by Bankera's business plan, it is concluded that this ICO falls within the scope of the Law on Securities, i.e. is considered a public offer, and therefore must be executed in accordance with the established requirements.

The Bank of Lithuania

According to the central bank, The Bank of Lithuania draws the attention of other media to the requirements of legal acts and recalls that the Law on Advertising prohibits the advertising of activities that violate the requirements of legal acts.

This action comes after Lithuania’s  released guidance for the blockchain. Last week, Switzerland's financial regulator, the Financial Market Supervisory Authority, released new guidelines last week, indicating it will also treat some ICO tokens as securities.

BTC Volatility to Fall by 98% in a Year

Analyst believe that low volatility indicates a decline in speculative trading 
18 January 2019   91

Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, it was $ 3,468, then a year later - only $ 61, CoinDesk reports.

Note, the daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was about 26%.

In absolute terms, the maximum daily volatility in the first quarter was $ 973, and in the following: $ 345, $ 245 and $ 195, respectively.

At the beginning of 2019, this figure also did not exceed $ 200, and on January 12 it reached a minimum value of $ 45.17.

Analyst stressed that low volatility indicates a decline in speculative trading and an approach to a sharp price movement.

In his opinion, Bitcoin will soon leave the range of $ 3,500- $ 3,700 in favor of the bears. At the moment, the first cryptocurrency is trading at around $ 3,590.