China s Absolute Control Over Digital Yuan Will Boost Demand for Cryptocurrencies, Says Analyst
China’s push for the digital yuan will boost demand for cryptocurrencies, according to an analyst at BK Asset Management, citing that the Chinese government wants “absolute power” over the wealth and income of its citizens.
Digital Yuan Push Could Raise Demand for Crypto
Boris Schlossberg, managing director of FX Strategy for BK Asset Management, said in a note last week that China’s absolute control over its central bank digital currency (CBDC) will drive more demand for cryptocurrency, CNBC reported Friday. Schlossberg has more than 20 years of financial market experience, according to the asset management firm’s website which further states that the is “widely known as a leading foreign exchange expert.”
Hong Kong to restrict crypto bourses to professional investors
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Last Updated: May 22, 2021, 03:49 PM IST
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Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry.
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HONG KONG, : Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city s markets regulator and will only be allowed to provide services to professional investors, according to government proposals published on Friday.
Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. Investor protection and preventing money laundering are particular concerns.
Don’t panic-sell bitcoin in crash: Crypto startups
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While investing or trading in cryptocurrencies is a legal grey area, Indians owned about Rs 10,000 crore worth of such assets as of February.
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(This story originally appeared in on May 21, 2021)Mumbai: Indian crypto entrepreneurs are urging investors not to panic-sell assets like bitcoin and ether after prices crashed over 30% this week. According to cryptocurrency exchanges, investors should decide if they can sustain with locked funds for 3-4 years, and use only risk capital for what would be more of an allocation for long-term appreciation.
These digital exchanges facilitate trading for most of the 1 crore Indian investors in highly volatile cryptocurrency assets. Users of some of these platforms were unable to place their orders due to the high volume of trading on Wednesday. While investing or trading in cryptocurrencies is a legal grey area, Indians owned about Rs 10,000 crore wort
Cryptocurrency in India: What s the govt s stand, legal status, its future
Around 7 million Indians have already pumped in over $1 billion into cryptos and the government has the tough task to allow fintech space to flourish in India while making sure it s done without safety concerns
BusinessToday.In | May 20, 2021 | Updated 16:51 IST
As a first step towards regulating cryptos in India, the Centre has made it mandatory for companies to disclose crypto trading/investments
Recent developments in the crypto world, including Bitcoin freefall from $65,000 in April to below the $40,000 mark after Elon Musk s statements, have brought back focus on laws around the governance of cryptocurrencies in India. Around 7 million Indians have already pumped in over $1 billion into cryptos and the government has the tough task to allow fintech space to flourish in India while making sure it s done without safety concerns. Let s understand the central government s stand on cryptocurrencies and th