Monat: März 2022

On Monday Japan’s Financial Services Agency (FSA) together with the Ministry of Finance ordered Crypto exchanges to stop processing transactions involving sanctioned assets, individuals, or entities in sanctions leveled against Russian and Belarus after Russia invaded Ukraine.

This order came to effect after Group of Seven (G7) nations (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) noted that Russians had started utilizing digital assets. They stated that they will be very strict with the illegal Russian actors who are trying to use their digital assets to transfer and enhance their wealth.

The use of Cryptocurrencies by Russia to be around sanctions because it invaded Ukraine has become a rising issue among the G7 major countries, Germany, Canada, United Kingdom, Japan, France, United States, and Italy.

On Friday, the US Treasury Department asked all the crypto businesses in the United States to adhere to the new guidelines that prohibited them from doing transactions with sanctioned entities and individuals.

Law violators

To make the new rules effective and strictly adhered to, the FSA and the Ministry of Finance made a joint announcement where they revealed the new steps that will be followed to prevent funds transfer using crypto assets that violate penalties.

Japan has been slow in adopting rules and regulations to be used on private digital currencies, however, G7 and G20 countries stood in the gap and urged for more regulations of Stablecoins.

Japan’s FSA said that any unauthorized transfer to sanctions-related targets via crypto assets will be termed as a criminal offense and will lead to 3-year imprisonment or a cash bail of 1 million yen ($8,487.52). As of 4th March, 31 crypto exchanges were operating in Japan.

However, in all these discussions, the European Union (EU) has been acting as a guest with representation by the European Commission and the European Council.

The post Japan’s FSA orders crypto exchanges to adhere to the imposed sanctions appeared first on Coin Journal.

Major cryptos registered mostly small losses. On Monday, the European Parliament’s Committee on Economic and Monetary Affairs voted down a bill that could have outlawed proof-of-work in EU territory.

US indices slipped yesterday amid uncertainty ahead of the Federal Reserve’s eagerly awaited policy meeting today. The NASDAQ100 was down 2%, the SPX500 0.75%, while the DJ30 was flat. China-based tech stocks led the declines.

Shares of TV-ratings company Nielsen surged 30% on Monday after it was reported that a group of private-equity firms was in talks to buy the company for about $15 billion.

Top cryptos

Ethereum, Solana, XRP, and BNB lost around 2% each. Bitcoin lost around 1.6%, trading under $40,000 at time of writing.

Terra’s native token Luna is the biggest gainer in the top 20 coins by market cap today. This has been true for it for a few weeks now.

Top movers

THORChain is the biggest mover in the top 100 without a doubt. It added another 11.61% to its value today, bringing its weekly gains to 78%. It is rallying after the cross-chain DeFi project’s rollout of synthetic assets and the announcement of a launch date for a suite of new features called THORFi.

After a successful acquisition, Elrond has gained 7%. eCash is up 5%. BAT continues its steady rise. It’s trading for $0.73 with a 24-hour trading volume of $162.18 million. The token, which ranks 72nd by market cap, is up 4.72% in the last 24 hours.

The popularity of Stellar has been rising ever since an XLM token burn two days ago. The 30th biggest coin by market cap achieved a weekly gain of around 4%. According to some analysts, it’s about to break out.

Today, OIG announced a partnership with ioTexPad, the first ever launchpad built on IoTeX. The live IoTeX price today is $0.07 with a 24-hour trading volume of $40.2 million. IoTeX ranks 92nd by market cap and has gained 7% today.

The Graph’s price has risen sharply in the past few weeks. It’s currently trading for $0.36. The platform’s ecosystem is expanding, a fact welcomed by investors. However, some analysts anticipate a bearish turn.

At the other end, the vast majority of top 100 coins lost 2-4% of their value.

Zcash and Anchor each lost 10%. The predictions that Zcash, a privacy token, would start to dip after a meteoric rise have proven accurate. It was rallying on popularity of privacy coins a few days ago against the backdrop of the Russia-Ukraine war.  

Trending

The biggest gainer of little-known coins is Ziktalk, currently trading for $0.009. Its token ZIK generated a 24-hour trading volume of $1.4 million and has gained 1,083% today.

Ziktalk is a Web3 short video platform with over 650,000 users that allows content creators and consumers to earn ZIK tokens for interactions within the app.

It uses the concept of “social mining”, which involves rewarding users for contributions that benefit the growth of the ecosystem. 

Ziktalk provides monetization opportunities to 98% of content creators, whose earnings are below the poverty line, and also supports users in developing countries.

The post Highlights March 15: Major cryptos in the red, China tech firms lead US indices lower appeared first on Coin Journal.