‘Many ICOs are Dubious, Downright Frauds’, Says Hong Kong Regulator
News – CCN
‘Many ICOs are Dubious, Downright Frauds’, Says Hong Kong Regulator
A senior official at Hong Kong’s securities regulator has, once again, reminded the public to be cautious of investments in initial coin offerings (ICOs). In a speech on new technologies on Friday, Hong Kong Securities and Futures Commission (SFC) deputy chief Julia Leung reiterated previous concerns of risks associated with initial coin offerings. “While we
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Tax Day Bounce? bitcoin Price Crosses $8,000 as Sell Pressure Fades
The bitcoin price saw a moderate bounce on Tuesday, as the impending conclusion of tax season in the US suggests that an important source of sell pressure will be eliminated from the markets. As CCN reported, many analysts attributed the first-quarter sell-off in part to the fact that traders and investors were forced to sell
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Germany’s major exchange Deutsche Boerse says it is still “considering” bitcoin futures but is unable to say when they might launch.
Europe’s Cautionary Stance
In comments to local industry magazine Wednesday, a spokeswoman from the marketplace organizer said that bitcoin’s “significant exchange rate fluctuations” were among the factors needing a solution prior to a potential release.
“We’re considering bitcoin futures which investors and institutional investors can use to hedge against bitcoin or set against falling prices in the virtual currency,” the publication quotes her as saying.
The topic of debate for many of the world’s jurisdictions this month, bitcoin futures have been a major factor in pushing up prices over $17,000 after US lawmakers gave the green light to three such products earlier this month.
CBOE will be joined by CME Group December 18 in opening up regulated bitcoin exposure to Wall Street and other major insitutional investors.
Reactions from authorities in other countries have varied meanwhile, with Japan’s launch agenda contrasting strongly with that of South Korea, which instigated a on the activity.
Within the global context, the European Union appears for now to be adopting a cautionary approach.
Buoyant CBOE Forecasts ETFs, ETNs
As WirtschaftsWoche reports, earlier indications of ratification of futures on Deutsche Boerse within “two to three months” now seem premature.
“According to Deutsche Boerse, deliberations are not yet far enough along to allow naming a timeframe,” it continues.
A major concern is price volatility, with officials keen to avoid manipulation resulting from periods of unstable rates.
Discussing what could lie in store for ‘traditional money’ participation and bitcoin following CBOE’s futures launch meanwhile, CEO Edward Tilly said ETFs could present the next stage.
“I think you’ll see some buzz around the potential for security ETFs and ETNs as a result; I think it’ll take some time, but I think you’ll see that as the next frontier,” he told Wednesday.
In the run-up to its own futures debut, CMEGroup has altered its initial margin requirement from 35% to up to 47%, the publication added.
What do you think about Deutsche Boerse’s approach to bitcoin futures? Let us know in the comments below!
