Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro
- District Judge Turns down SEC Request Regarding Blockvest ICO
- All eyes on Buenos Aires where G20 summit begins
- Cryptos, as well as equity markets, falls in nervousness before the G20 summit
US court makes an intervention in SEC tricky policies on ICO
Till now Securities and Exchange Commission of United States had the final say in a decision regarding cryptocurrencies and Initial Coin Offering (ICO). But for the first time in an extraordinary decision, San Diego District Judge Gonzalo Curiel, who was presiding over a case between the SEC and the startup company Blockvest, stated that that the SEC couldn’t show that investors had bought into the Blockvest ICO with an expectation of making a profit from the efforts of others. Judge Gonzalo Curiel had previously granted the SEC’s ex parte request for a temporary restraining order and froze the assets involved in the ICO but has found the case to be otherwise. Lawyers who have been closely watching this case believe that this case sends a strong message to the SEC that the courts are vigilantly paying close attention to the question of whether digital tokens fit the legal definition of a security. Well, looks like SEC’s regulations regarding ICOs which are currently tricky and largely unresolved will soon have to take a proper shape.
Peter Navarro’s presence at G20 summit could be eventful for cryptos and global markets
All eyes are on Buenos Aires today where 20 of the worlds most notable leaders have gathered with the goal of making the world a better place. The official theme for this years G20 summit is “fair and sustainable development” through a few reported events have already indicated that this summit could be an eventful one. If media is to be believed Trump has canceled his one on one meeting with Putin while the controversial White House Trade Adviser, Peter Navarro is expected to be attending the G20 summit.
The nervousness of an eventful G20 summit has created some selling pressure on equities which has had its “coupling” effect on cryptos as well.
Bitcoin halted its two-day rally and had fallen below $4,000 again giving back about half the gains accumulated this week. If it doesn’t turn around soon, it’s very possible we could get another test of the yellow line at $3,500. If it holds- that would be really great but if it does manage to break we have strong support coming at $3,000 per coin
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.