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RBI Slashes Crypto: Is It the Beginning Of Cryptocurrencies’ End In India

The central bank of India (RBI) today, directed all the regulated bodies to not to provide services to any individual and business entities that use or deals in virtual currencies within a specified time period i.e. about 3 months.

https://goo.gl/w3S6c3
**RBI Gives Its Final Call On Cryptos With “Prohibition On Dealing In VCs” Circular
**

RBI has taken a final call on the cryptocurrencies by issuing a circular that prohibits the dealing of cryptocurrencies in India by barring the regulated entities for providing their services to the individuals and businesses dealing with VCs on an immediate basis. For those banks and payment gateways that have already been associated with them have been given 3 months time period to cut those ties.

https://goo.gl/zdNkZ4
UK’s Financial Conduct Authority (FCA) Issues Guidelines For Crypto Derivatives

UK’s Financial Regulator FCA has laid down the rules for crypto derivatives involving CFDs, futures, and options that now require the authorization of the agency.

https://goo.gl/8Dovc7
Bitfinex Lists 12 New ERC20 Tokens, Altcoin Market Signals Recovery

In its latest announcement, Bitfinex introduced 12 new ERC20 tokens on its trading platform. The exchange made a special notification of the stable coin Dai that is the main competitor of Tether (USDT) which holds the same CEO as Bitfinex reportedly.

https://goo.gl/brVoJu
Nano & Team Faces Class Action Lawsuit, Appeal For A Recovery Fork

A class action lawsuit has been filed against the Nano and its core team by a US law firm in behalf of the investors that alleges Nano of violating the federal security laws.

https://goo.gl/1oXG4N
BTC Price Alert: In spite of positive news about institutional investors coming in BTC, the price is moving down. The team is working to find the reasons.
1. One of them is someone dumped 20K BTC causing the dip.
2. US imposes sanctions against Russian oligarchs and government officials. This includes 200 top russian officials.

As of now the prices are expected to dip further to levels of $6560.
Opinion: With Effects Of CME And CBOE Still Unclear, Is Cryptocurrency Market Ready For Big Boyz?

The tax season is here and the cryptocurrency market is bleeding. Though there might be some ups and down in its journey, the crypto market will be experiencing black clouds at least until the period of taxation is over.

As we reported in our taxation article, with the US households having about $25 billion of capital gain tax liability to be paid to the IRS and cryptocurrency exchanges pressuring a sell out in order to pay their taxes, the market will see a downfall.

https://goo.gl/AXYD96