Summary:
-
CFTC wants to know more about Ethereum
-
UAE and Saudi Arabia to launch cross-border cryptocurrency
-
Cryptocurrency market recovers and major cryptocurrencies experience rises
Today’s trading has brought a tiny degree of optimism in the cryptocurrency market. A majority of cryptocurrencies has experienced moderate rises. Bitcoin (BITCOIN on xStation5) has gone up around 1% whereas Ripple (RIPPLE on xStation5) has increased nearly 2%. The capitalization of the whole market still stands close to the $110 billion mark.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Bitcoin has experienced some increases, but the largest cryptocurrency is still trading around the $3400 handle. Source: xStation5
Two Arabic countries to launch cross-border virtual currency
The United Arab Emirates and Saudi Arabia, two Arabic countries, will cooperate to issue a cross-border virtual currency. Mubarak Rashid Al Mansouri, the Central Bank of UAE’s Governor, said today at Arab Fintex symposium in Abu Dhabi that it has started cooperating with Saudi Arabian Monetary Authority (SAMA) on virtual currency, as the Gulf News reported. Today’s statement confirms some reports speaking about such an idea published in the past. “We hope this initiative will encourage similar cooperation at the level of GCC countries and world at large”, Al Mansouri added. The cryptocurrency is aimed to facilitate cross-border transactions between these two countries.
Ripple has been moving around the $0.30 mark for a couple of days. Nevertheless, the digital currency has risen nearly 2%. Source: xStation5
CFTC asks publicly about Ethereum
The US Commodity Futures Trading Commission (CFTC) wants to know more about the Ethereum as it asked publicly about it. On Tuesday the Commission published “Request for Input” (RFI) which contains questions about the third largest cryptocurrency and its network. The CFTC wants to get a public feedback on questions “related to the underlying technology, opportunities, risks, mechanics, use cases, and markets, related to Ether and the Ethereum Network”, as the CFTC’s press release reports. Public comments must be received by the regulator within 60 days of publication in the Federal Register.
