An unprecedented growth of 3 crypto-currencies

Lunyr, Storj and Monaco gained 346%, 204% and 177% in 24 hours respectively
13 August 2017   1300

Interesting things happens not only to top ten cryptocurrencies. Lunyr, Storj and Monaco gained 346%, 204% and 177% respectively for a last 24 hours.

Coinmarketcap
Coinmarketcap

Lunyr (now costs $24.53) gained almost 350% for last 24 hours.

Lunyr is an Ethereum-based decentralized world knowledge base which rewards users with app tokens for peer-reviewing and contributing information. They aim to be the starting point of the internet for finding reliable, accurate information. Team's long-term vision is to develop a knowledge base API that developers can use to create next generation decentralized applications in Artificial Intelligence, Virtual Reality,Augmented Reality, and more.

Storj (now costs $2.25) gained 204% for last 24 hours.

It is the cryptocurrency of a decentralized data storage service.

Monaco (now costs $4.65) gained 177% in last 24 hours.

According to the official website, Monaco - world's best cryptocurrency card. Spend and send money globally at perfect interbank exchange rates, saving EUR30-40 on every EUR500 equivalent spent.

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   30

German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.