Financial Authority of Abu Dhabi to Regulate Crypto and ICO

The Financial Authority of Abu Dhabi is considering the development of a regulatory framework to regulate virtual currency activities    
12 February 2018   364

According to an official announcement, The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) is preparing a set of regulations for ICOs, digital currencies, and cryptocurrency exchanges.

According to the announcement, the FSRA is going to cooperate with relevant qualified institutions. The date of release of expected regulations is not indicated.

Previously, the financial regulator issued a warning about the risks of cryptocurrencies and ICOs. After that, the FSRA started considering developing its own set of regulations.

In the announcement, The FSRA noted that cryptocurrencies, although not legal tender, are gaining interests globally as a medium of exchange for goods and services.  However, there are risks and concerns due to the increasing incidents of cyber attacks and cybercrime. Several countries such as Australia, the EU, Japan, Singapore and the UK have introduced or proposed regulations to address such risks.

Mt. Gox Trustee Can Sell 2000 BTC Soon

Possible sale of such a large batch can lead to a further fall of the bitcoin price
26 April 2018   167

Head of the Board of Trustees of MtGox, Nobuaki Kobayashi, is probably preparing to sell a new batch of bitcoins, this time at a rate of 2,000 BTC.

This assumption was made by the bitcoin-investor and the head of the Altana Digital Currency Fund, Alistair Milne. In support of his words, he brought to Twitter a link to the trustee's MtGox address.

Alistair Milne Twitter
Alistair Milne Twitter

Apparently, on the morning of Thursday, April 26, from the address indicated, 2,000 were transferred to another address. Some of the funds that were there before (8,000 BTC) were almost immediately expended.

Possible simultaneous sale of such a large batch can lead to a further drawdown of the bitcoin price.

Bitcoin Price Chart
Bitcoin Price Chart

Trading on Wednesday evening at around $ 9,000, on the night of Thursday, the first crypto currency continued the decline started yesterday, dropping at a certain point to $ 8,650. At the time of publication, however, there has been a slight increase - according to Coinmarketcap, the weighted average bitcoine rate at that time is $ 8 790.