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Crypto Update: Calm and Collected Trading for Cryptos Seen

Yaron Mazor
Updated

A petition regarding ICO’s has been sent to the SEC asking for the right to update accounting and auditing. And South Korea has issued new mandates regarding cryptocurrency trading.

Cryptos Gaining and Regulation Questions Lurk, SEC Petitioned on ICOs

Cryptocurrencies have continued to perform well this week as most of the major assets have added value. Questions and concerns regarding regulations are still ripe, and South Korea has announced today it will crack down on bank accounts which are held by corporations which trade anonymously. And in the States, the Securities Exchange Commission has been sent a petition asking that Initial Coin Offerings which have already taken place, be given the right to file updated accounting and audits. This would help the ICOs comply with new regulations in an effort to provide more clarity for investors and help overall supervision.

Bitcoin Still Adding Value, Solid Advance Since Feb 6th Low Water Mark

Bitcoin has continued to add value this week and is near 9870.00 U.S Dollars per coin. After touching lows of near 7800.00 on Sunday, the cryptocurrency has progressively added value without any major downturns. Important support continues to be around 7,700.00 and resistance could grow strong near the 11,000.00 juncture. Bitcoin has experienced a rough past month, but it has been able to gain steadily since falling below the 6,000 U.S Dollar mark on February the 6th.

BTC/USD 4H Chart
BTC/USD 4H Chart

Russian Agency Asking for Stricter ICO Requirements

Russia is taking a harder look at Initial Coin Offerings. The Ministry of Communications has stated it would like to see new requirements for ICOs before they can legally proceed in the country. One of the mandates would include the stipulation for a minimum value of 100 million Rubles to be enforced before an ICO can effectively launch.

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Crypto Conference About to get started in Dallas, Texas

A Bitcoin, Ethereum, and Blockchain Super Conference will start in Dallas, Texas tomorrow and last throughout the weekend.

  • 16-18th, U.S, Bitcoin, Ethereum, and Blockchain Super Conference

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

This article was originally posted on FX Empire

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