Market Analysis Report (11 Oct 2017)

Putin Tells Central Bank Not to Create Unnecessary Barriers to Cryptocurrencies

The President of the Russian Federation, Vladimir Putin, held a meeting yesterday to discuss cryptocurrencies. The meeting was attended by top regulators including the central bank governor, her deputy, and the finance minister. While Putin acknowledged the risks associated with cryptocurrencies, he stressed the importance of not building up unnecessary barriers for new technologies:

“It is important not to create unnecessary barriers, of course, but rather to provide essential conditions for advancing and upgrading the national financial system.”

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Gatecoin Will Delist ‘Securities’ ICO Tokens

Hong Kong-based cryptocurrency exchange Gatecoin has revealed that certain ICO tokens listed on its platform will be delisted if they are classified as ‘securities’ by SEC. As CCN reported last month, the Securities and Futures Commission of Hong Kong (SFC), the region’s chief financial regulator, expressed concerns in the increase in fundraising via initial coin offerings (ICOs). In an announcement, the exchange stated:

“Tokens deemed likely to be categorized as securities will be delisted from Gatecoin. Once we have confirmed which of these tokens are to be delisted, clients will have one week to trade their tokens for bitcoin (BTC) or ether (ETH).”

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SurBTC Withdraws Support for SegWit2x Hard Fork

The Chilean exchange, SurBTC, made an announcement on Tuesday joining a litany of companies that have begun to withdraw support for SegWit2x as the scheduled November date for the controversial hard fork approaches. The announcement reads:

“We don’t believe in trying to force a change bitcoin’s core developers don’t feel safe with. The technical background of the team that currently collaborates on the core bitcoin project has an unprecedented level, we believe them to be, at least as a group, unbiased experts who deserve at least a voice on the subject.”

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