The regulatory policy for cryptocurrency is more stringent

1. Special Representative of the Russian President: At this stage the government will not allow the issuance and circulation of cryptocurrencies

According to “Russia Today”, at the Fourth Eastern Economic Forum in Moscow, the Russian President’s Special Representative said that for now, the Russian government does not allow the issuance and circulation of cryptocurrency similar to bitcoin currency. This is contrary to the basic functions of the state, which is very important. In his view, the free market and supervision are inseparable, and now there is a very high risk, then the central bank’s supervision must be more stringent. As a national government, we have an obligation to warn all investors. But we are not trying to destroy the cryptocurrency market. How to introduce norms is the focus of work.

2. Japan’s Financial Services Agency Issues First ICO Illegal Fundraising Punishment Order

Recently, the official website of the Japan Financial Services Agency issued the first ICO-related penalty notice “On Administrative Punishment for Special Cases of Qualified Investors and Others”. The company involved was Dragoon Capital Co. Ltd. The official company and individuals explained the fraudulent investment behavior. In this incident, because the company involved did not complete the landing in the Financial Department, it did not meet the investment business norms in the Japanese “Golden Business Law” because it was called: this special case.

3. US Securities and Exchange Commission suspends bitcoin and Ethereum tracking transactions

According to Reuters, the US Securities and Exchange Commission (SEC) said it would suspend Bitcoin and Ethereum tracking transactions from now until September 20. The SEC believes that for the public interest and protection of investors, the Bitcoin Tracking Transaction (CXBTF) and the Ethereum Tracking Transaction (CETHF) must suspend trading. It is understood that CXBTF is an Bitcoin Tracker One Bitcoin Exchange Exchange Trademark (ETN, Exchange-Traded Notes) issued by the parent company of Coin Shares, which has been approved for trading in the US. The Bitcoin ETN is a Bitcoin exchange-traded instrument that allows users to participate in investments by tracking the trend of bitcoin trading. The user holds a commitment to exchange funds for a period of time based on its price index, and it is also a very efficient hedging tool.

4. The Supreme Court of India will hear all petitions from the Reserve Bank of India on the ban on cryptocurrency banks on Tuesday

According to bitcoin, at the Indian Supreme Court (SC) hearing on Tuesday, September 11, all petitions related to the Indian Reserve Bank (RBI) cryptocurrency bank ban will be discussed. The central bank issued a notice on April 6 prohibiting banks from providing services to cryptocurrency businesses such as Eth coin.

5. The UAE will approve an ICO regulatory plan that will be considered a security

According to arabianbusiness, the UAE Securities and Commodities Authority (SCA) Chairman and Economic Minister Sultan Bin Saeed Al Mansuri said on Sunday that the agency has approved a plan to regulate the ICO. Think of it as a security. Prior to this, SCA reviewed a study on best international practices and incorporated a set of mechanisms into a comprehensive project to monitor cryptocurrencies and commodities such as EOS coin.