Thomas Reuters to Launch Cryptocurrency Index

Media giant has launched a new bitcoin data feed designed to make it easier for investors to monitor the market
12 March 2018   136

Thomson Reuters is launching a new bitcoin data feed, which will help investors determine what moods prevail in the bitcoin market at a particular moment. This is reported by Coindesk.

The indicator is included in the latest release of MarketPsych Indices, a toolkit for investment analysis of various indicators, from companies to government loan bonds.

The mood of the bitcoin market will be determined by artificial intelligence, analyzing over 400 data sources, including news articles and messages on social networks.

Our customers can use it to generate alpha. They can drive positive investment returns. They can use it to better balance the risk in their portfolios. 

Austin Burkett

Global head of Thomson Reuters

Using metrics such as greed or fear, investors will be able to determine the best time to hedge or place orders to buy or sell bitcoin, when indicators they trust more will indicate such an opportunity.

At the end of last year, the support of Bitcoin Cash, which became the third digital asset, was integrated into the Thomson Reuters Eikon platform, for the movement of the course which users of the service can follow.

Cryptocurrency to be Regulated in France

French Ministry of the Economy and Finances creates working group to regulate cryptocurrency
22 March 2018   118

Bruno Le Maire, the French Minister of the Economy, announced the government initiative to constitute the instructions and regulations towards cryptocurrency. The group is also aimed to decrease the influence of Bitcoin and altcoins to the formal system of economy with the help of required concept. These measures would help French government to prevent tax avoidance and some other criminal activities (such as money laundering).

In an op-ed that was published in French media this week the Minister of the Economy Bruno Le Maire made a promise not to miss the blockchain revolution. He refined the reasons of the French authorities`decision to regulate the technology. According to his point of view, it is impossible for any consumer or entrepreneur to carry out a transaction, invest, develop in business being in a regulatory vacuum. The Minister also put this position on the top among the rest questions to be discussed at G20 Summit in Buenos Aires. Bruno Le Maire is sure that the role of France is to be a driving force in “building the world of tomorrow”.

The Minister is going to present his case at the G20 Summit in 2018 in Argentina. He hopes that the framework can help in decreasing illegal activity in cryptocurrencies. Le Maire also explained that the sphere of digital funds is extremely attractive for criminals.

The leader of the working group is Deputy Governor of the Central Bank of France Jean-Pierre Landau. The French Central Bank supports the Government and hopes there would be no negative impact and consequences for the traditional economy system.

The key object of cryptocurrency regulation is to limit various negative factors in the financial sphere caused by digital money, such as the price volatility. Le Maire claims that at the same time the regulation of the cryptocurrency can support the development of the technology and can even lead to the economic growth. As blockchain can destroy not only traditional daily practices in banking and financial markets, but also patents and certified acts, the French Minister of Economy urges that the working group should foresee all these changes and become “actors of this revolution”, instead of simple viewers.