Switzerland encourages cryptocurrencies

Switzerland has decided to issue guidelines on ICO’S (initial coin offerings). The Swiss Financial Market Supervisory Authority has said that they have seen a big rise in in ICO’S being launched in the country as well as enquiries regarding crypto regulations. While other countries seem to be trying to ban the crypto technology and platforms the Swiss seem to be embracing it with the FINMA clarifying how standards around securities regulations  and anti-money laundering policies could be applied to virtual currencies.

 

 

Paul

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Product management  director Rob Leathern from Facebook has said that they are to ban all cryptocurrency and ICO adverts in a bid to stop financial products and services that are frequently associated with misleading or deceptive promotional practices. Rob said that they want people to continue to learn about new services and products through the use of Facebook adverts,  but wants to stop misleading adverts which are scams or deceptions. Facebook will ramp up the enforcement across their social network to stop deceptive and misleading cryptocurrency ads. The ban may not be permanent as Rob said “We will revisit this policy and how we enforce it as our signals improve.”

 

Paul

 

 

Dogecoin which was originally set up as a joke and features the famous Japanese shiba inu dog internet meme has now got a market cap of more than 1.1 billion dollars.

In December  the virtual coin rose more than 400 percent and briefly topped $0.0107.This is one example of an alt coin which was never thought to gain much value but has surprised the crypto community. Bitcoin is now becoming to expensive to buy as an investment for most people so investors are looking towards alt coins like Dogecoin. This is an alt coin to keep an eys on .

 

 

Paul

Ripple has passed Ethereum  and has  become the world’s second most valuable crypto token  by market capitalisation. The coin rose up by 50% in just 24 hours Its value now around $2.00. Over the last month is has had a 700% rise from around $0.25. Last weeks announcement  of 3 of Japans credit card companies also triggered a rise in the currency.

Ripplecoins market capitalisation is now at  $76bn which is still far behind Bitcoin but catching up fast. Ripple has also attracted investors who are looking for a major return similar to what Bitcoin has done. Looks like Ripplecoin meant for every day use might become another traders coin just like Bitcoin.

 

 

 

 

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