A global financial body, which includes India, says cryptocurrencies aren’t a threat

Finally, there’s some good news for the Indian cryptocurrency ecosystem—and this one’s from a global financial body. An inter-governmental body that makes recommendations about the health of the world economy has said that virtual currencies are not a threat. The observation was made by the Financial Stability Board (FSB), which counts over 20 countries as its members, including the US, UK, China, and India. The assessment came to light after India’s central bank, the Reserve Bank of India (RBI), quoted the agency in a report released last week. ”The FSB has undertaken a review of the financial stability risks posed by the rapid growth of crypto-assets. Its initial assessment is that crypto-assets do not pose risks to global financial stability currently,” the RBI report said. Source: Quartz India

Token Exchange to Enable Trading of Nasdaq-Listed Companies

A Nasdaq-powered crypto startup plans to let its clients indirectly purchase shares of major firms through a token-based platform.

Estonia-based DX.Exchange announced Thursday that it would launch its trading platform on Jan. 7, allowing its clients to purchase crypto tokens representing shares in different tech firms listed on the Nasdaq exchange. Customers will be able to use select cryptocurrencies, as well as fiat currencies to purchase the tokens. Source: Coindesk

Bitcoin is a ‘Black Box’ so I Won’t Invest in it: Analyst Gary Shilling

Renowned investor Gary Shilling believes Bitcoin is a black box. And he prefers to stay away from it.Speaking to Business Insider, the American financial analyst admitted that the digital currency is too opaque and complicated for him to invest in — and he will not invest in anything that he does not fully understand. Shilling also clarified that while he had attempted to learn about bitcoin’s economic model, he eventually found that the asset is “not transparent,” primarily because its creator Satoshi Nakamoto remains unidentifiable. “I’m just very suspicious of things that are not very transparent,” he said. “And if I can’t understand it, I don’t want to invest in it.” Source: CCN.com

‘Crypto Needs Rules’ Says New Gemini Ad Campaign

The Gemini cryptocurrency exchange founded by the Winklevoss twins in 2014 is calling for better regulation of the crypto space in a new ad campaign, the Wall Street Journal (WSJ) reports on Jan. 4.

Placards on taxis and in the New York City subway contain slogans like “crypto needs rules” while simultaneously suggesting that Gemini already provides a regulatory compliant exchange for investors. Other slogans include “money has a future” and “crypto without chaos.” Chris Roan, head of marketing at Gemini, told the WSJ: Source: Cointelegrapgh

 

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