Trader’s Journal #26

Trader’s Journal
Trader’s Journal #26

1. Dutch Central Bank will regulate the blockchain companies

Today, representatives of the Central Bank of the Netherlands announced that they would begin to regulate the activities of cryptocurrency companies starting January 10, 2020.

De Nederlandsche Bank employees explained that all local blockchain companies must register with the institution in case they want to continue their activities.

The official statement of the bank states: “Firms that offer exchange services between cryptocurrencies and fiat funds and purse providers must be registered with De Nederlandsche Bank.”

Recall that at the beginning of this year, representatives of the bank published a report stating the need to license fiat-to-crypto exchanges, since cryptocurrencies have “high risks of financial crimes.”

2. Blockchain ticket. Cryptocurrency holders will be identified in Russia

Users must obtain special permission in order to be able to work with digital money, for violation of these rules could face a prison term of up to 15 years

To control money laundering, users will be required to pass a particular identification, after which they will receive the right to use cryptocurrency. Corresponding amendments will be made to the bill “On digital financial assets” for the second reading in the State Duma, said the chairman of the committee on the financial market Anatoly Aksakov.

Any cryptocurrency instrument will have to pass a check for compliance with the requirements of Russian legislation. Users will receive permission to be able to transfer funds from accounts in Russian banks to digital money. At present, the specific mechanism of the procedure and the authorized body are unknown.

3. Ripple Strategy. How the transfer of 1.5 billion XRP affected the rate of the coin

Within two days, the developers sent almost $ 400 million to a third-party address. A sharp increase in the rate against the background of this event did not happen, the position of the cryptocurrency only worsened.

XRP is now the only coin in the top five cryptocurrencies by capitalization, which is losing value. During the day, the rate fell by 0.43%, to $ 0.254. Slight price fluctuations were recorded over the weekend when Ripple moved 1.5 billion of its own tokens to an unknown recipient.

The transaction was carried out in two stages. The first one took place on August 30, then half a billion XRPs were transferred (approximately $ 132), the second one another billion XRPs ($ 250 million) were sent the next day, along with it the developers attached a strange message: “Wol ha.”On August 29, the coin was trading at $ 0.260. The next day, the token rate dropped to $ 0.253, and on August 31, rose to $ 0.257, but could not gain a foothold in this position.

 

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