Economic Information Daily
At 10 am local time on February 6, the Senate Banking, Housing and Urban Services Commission will hold a hearing on virtual currencies, which the U.S. media believes will be called 'Virtual Currency: SEC and Commodities The CFTC's oversight role 'hearing will be a key moment for the virtual currency.
US regulators focus on virtual currency
It is reported that at the hearing, the SEC Chairman 杰克克莱 Day, the United States Commodity Futures Trading Commission Chairman Christopher Giancarlo will attend.CNBC believes that this meeting or for the U.S. institutional investors to provide more Clear regulatory road map.
The United States applies a separate regulation to the digitally encrypted currency under the existing framework and states and agencies have corresponding rules. As early as last year, the United States also considered bitcoin to be modest and of little influence and therefore not very much in charge of the monitoring of digitally encrypted currency Severe US financial markets two regulators - the SFC and the Commodity Futures Trading Commission, ETT for bitcoin-denominated assets have very different attitudes.But now the two are gradually joined forces, said it will continue to crack down on illegal digital cryptocurrencies areas behavior.
Earlier, Bloomberg reported that in December last year, the CFTC issued a subpoena to Bitfinex, one of the world's largest cryptocurrencies, and its associated digital token issuer, Tether, as the outside world has denied funding for its tokens have a question.
In January, the CFTC announced that it has sued three virtual currency exchange platforms for allegedly cheating customers and violating the commodity trading rules. The CFTC platform for prosecution includes Cabbage Tech, whose founders allegedly misappropriated user assets and registered in the UK Entrepreneurs Headquit Ltd, accused of carrying out a Ponzi scheme - claims that the platform leader claimed $ 1.1 million in bitcoin from more than 600 investors and pledged to spend the money on investment, and one that was sued Platform-related information has not been disclosed, which is the first time since CFTC allowed the launch of bitcoin futures in December last year.
The SEC recently said it has obtained a court order to investigate the digital currency held by AriseBank, a digital currency banking company based in Dallas, Texas, a move the industry described as the federal regulator's involvement in the ICO tokens financing market The US Securities and Exchange Commission filing a petition with the District Court for the Northern District of Dallas on January 25 said that AriseBank has started using ICO financing since November last year and has now received a total of 600 million U.S. dollars. The financing plan was originally scheduled for January 27 this year But both the company and the issued token, AriseCoin (also known as eACO), were not registered with the SEC as a violation of the US securities laws and did not provide investors with the necessary disclosure of information regarding business models and financial history The company and co-founder Jared Rice Sr. and Stanley Ford are also suspected of fraud, and the company allegedly provides consumers with VISA credit cards backed by more than 700 digital currencies, which the SEC also considers false.
According to The Wall Street Journal, the largest three U.S. banks, Bank of America, Bank of America, and Bank of America, announced on February 2 that they will Banning the use of their credit cards for the purchase of bitcoin and other digital currencies suggests that banks are clearly guarding against such risks.
Global regulatory continued to tighten
At present, governments are increasingly discussing how to deal with the risks posed by digital cryptocurrencies, and the global regulatory turmoil has been and continues to intensify.
On January 8, the Korea Financial Services Commission and the Korea Financial Supervisory Authority conducted a joint inspection of six banks providing digitally-encrypted monetary accounts to verify the implementation of the anti-money laundering regulations and related accounts adopted under the name-naming convention. As of January 30 According to the relevant regulations, even if the real-name authentication is adopted, foreign investors and the provisions of the "Civil Law" of Korea stipulate that the new digital certificates of exchange Of minors are unable to carry out digital currency transactions.Korean Financial Services Commission has said it will deepen cooperation with China, Japan's regulatory agencies to curb speculative transactions in digital currencies.
On January 26, the largest digital money theft in Japan took place. Japan's Financial Services Department ordered Coincheck to submit a survey on hacking, risk management and measures to prevent recurrence of similar incidents and said that it is conducting a digital currency transaction The safety of the investigation.
Indian Finance Minister Jaytelli said he promised to crack down on the illegal use of cryptocurrencies and stressed that cryptocurrencies were not legal ones.
It is also reported that France and Germany will submit a joint proposal on Bitcoin regulation at the G20 summit in March 2018, while Russia plans to complete the regulatory framework for cryptocurrencies and ICOs by July 2018.
On the United States to deepen the study of digital cryptocurrencies, H.Rodgin Cohen, a well-known Wall Street lawyer, told Bloomberg that it is only a matter of time before the United States regulates that the "comprehensive response" to Bitcoin is a matter of time. The U.S. regulatory agencies will formulate a joint strategy to regulate digital encryption currency market.
Market decline has not stopped
After going up wildly, many markets will crack down on digitally-encrypted currencies and there will be a huge shakeout in the market. Bitcoin, once worth more than 19,000 U.S. dollars in December last year, has fallen by more than half in less than two months. At present, Fluctuations around $ 9,000.
It is reported that at present the total supply of bitcoin has been spent 80%, leaving only about 4.2 million, waiting for the world's 'miners' were divided, the news in the previous speculators is a huge positive, but Recent price plunge, some investors have been stuck, very helpless.
In the face of regulatory news, participants cautious wait and see. Last week's market, CME bitcoin futures contract in March contract fell 505 US dollars or 5.56 percent to 8585 US dollars, down 21.71% the week; CBOE bitcoin futures XBT3 month contract fell 1380 dollars, or 15.20% at $ 7,700, down 29.62% over the week CME bitcoin futures contract fell 5.56% to $ 8,580 a week, down 21.89% week; CBOE bitcoin futures XBT4 April contract fell 6.65% Reported 8490 US dollars, fell 22.54% week.
Last week, the Dow Jones industrial average closed down 665.75 points, down 2.54%, the biggest one-day decline since June 24, 2016, at 25520.96 points. The S & P 500 index fell 59.85 points, or 2.12%, creating 2016 The biggest one-day drop since September 9, the Nasdaq Composite Index also closed 144.92 points, or 1.96%, the biggest one-day drop since August 10, 2017.
Overstock.com, the blockchain concept associated with digitally encrypted currencies, closed 15.98% lower. Kodak closed down 7.19%, losing four days, losing 5% at LongFin, closing 2.22% at Accenture and 1.14% at Riot Blockchain.