The Basel Committee cautioned the global banking system that the growth of the decentralized currency industry could pose a serious risk to the economic and financial stability of the world.
Established in 1974 by the governors of the Group of Ten Central Banks, the Basel Committee on Banking Supervision [BCBS] concerns itself with the supervision of the world’s banking system. The committee keeps a regular check on the degree to which the world’s banks are exposed to the risk of volatile assets, in this case, digital assets.
In a March 13 statement, the committee stated that digital assets cannot be relied upon to replace the traditional structure of fiat currencies. Moreover, these assets are not a viable medium of exchange nor a store of value, according to the Basel Committee.
The report stated that the virtual currency industry posed a significant risk to the traditional financial world, primarily due to the volatile nature of the assets. Furthermore, threats related to liquidity, frauds, market manipulation, credit damage, money laundering, and terror financing were rampant in the crypto-industry.
However, the committee did admit that the banking world had “very limited” direct contact with the cryptocurrency industry. The committee went on to suggest that the crypto-industry should enhance its risk management protocols, to protect against its own volatility.
The statement read,“The Committee is of the view that the continued growth of crypto-asset trading platforms and new [commercial] products related to crypto-assets has the potential to raise financial stability concerns and increase risks faced by banks.”
On principle, cryptocurrency proponents do not want to merely compete with the global banking world, but want to replace them. Bitcoin [BTC], the top cryptocurrency in the market, was created as a mathematical-logical currency that was decentralized, and not under the power of one single issuing authority.
Government-issued fiat currency is seen as a product of the bureaucratic and financial elite, who aim to monopolize wealth. The crypto-industry aims to draw in more people to their movement, thereby replacing centralized, fiat currency.
Despite this principled belief, many see the cryptocurrency industry as any other investment vehicle, with higher volatility than most assets. Despite speculation and arbitrage not being the drivers of the crypto-industry, the committee seems to have viewed it that way.
It is this volatility, paired with unclear and uneven regulations of the industry, that have concerned the Basel Committee. Given cryptocurrencies’ fledgling status among stalwart investment fields, its surge in popularity, volatility, and lax-regulations, the Committee sees it as a direct threat to the stability of the global banking system.
The Basel Committee will be working closely with the Financial Stability Board to better manage the exposure risk of digital assets to other investment vehicles and the financial world, at large. The report concluded,“The Committee will in due course clarify the prudential treatment of such exposures to appropriately reflect the high degree of risk of crypto-assets.”
Trading Ideas, Multicharts, and Live Widgets – SimpleFX Promotes New Features With Lower Spreads
March 21st, 2019, St. Vincent and the Grenadines – Multi-currency and cryptocurrency Web trader platform SimpleFX has just added three groundbreaking new features to its award-winning WebTrader and promotes the improvements with a “March Madness” offer. For the whole month, traders can earn $500 with a 20% spread cashback. The fast-growing broker with over 200,000 active traders worldwide aims at being the go-to app for the new generation of mobile-first traders.
SimpleFX new features, Trading Ideas, Multi-charts and Live Widgets are all designed to fit the needs of the growing social trading community. The broker introduces useful tools for linking beginner traders with influencers, who can now mentor their followers earning recognition and up to 25% revenue share.
Empowering The Community With SimpleFX Trading Ideas
Trading Ideas is a captivating social trading feature that allows the users to share their opinion on cryptocurrency, stock or forex trends, educate beginners as well as gain community appreciation and earn lifetime revenue share through the Unilink.io affiliate program.
impleFX users can create a Trading Idea in just a few clicks – making a snapshot of their chart analysis, adding a comment and sharing it inside the app, in social media or through any other channels. Each Trading Idea carries the user’s referral link that will track the registrations and trades to pay out the lifetime revenue share.
Engaging the network of followers is a common challenge for affiliates in the FinTech sector. The registration on SimpleFX is free and there are no minimum deposits, so it’s very easy to gather a substantial number of followers. Teaching them how to trade and make profitable orders is more difficult.
SimpleFX affiliate partners can make big, successful trades with Trading Ideas. This feature will also help SimpleFX traders make earn a revenue share, and share / direct instructions and tips. A beginner can follow profiles of the users that provide valuable advice.
Free Quality Content For Publishers, Bloggers, and Influencers
SimpleFX Live Quotes and Charts Widgets are other tools promoted with the “March Madness” offer. Publishers, bloggers, and influencers can create unique content in just a few clicks
SimpleFX has released five new widgets – Market Overview, Live Quotes, Live Quotes Bar, Intraday Chart, and Currency Converter. They are fully customizable. The publishers and bloggers can pick the symbols they want to present to match their site’s content, as well as the widget’s layout, size, and style to match their website design.
Each time a new SimpleFX user registers after clicking a widget, the new account will be linked with the website owner’s Unilink.io profile. The publisher will get up to 25% lifetime revenue share from any transaction spread ever generated by the new SimpleFX customer.
Both the Widgets and Trading Ideas are available in the Unilink.io affiliate manager dashboard.
Introducing An Easy Multitasking Feature
Multicharts are the third new addition by SimpleFX. Although the broker acknowledges that mobile trading is the future, the app designers are working to improve the experience of desktop and laptop traders. The goal is to maintain SimpleFX WebTrader as a multiplatform tool fit for every screen and context.
The Multicharts feature allows splitting the main section of the app into two, three, four or even six windows. Each one can be configured to show a different symbol, timeframe, or chart type.
If you need a fast and reliable trading app with 1:500 leverage the “March Madness” promo a great opportunity to give SimpleFX.com a try. Start trading today and make the most of the 20% lower spreads.
Media Contact Details
Contact Name: SimpleFX Ltd.
Contact Email: [email protected]
Visit the SimpleFX Official Site – https://simplefx.com
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Find SimpleFX on Medium https://medium.com/@affiliates_1463
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Read more on SimpleFX Blog https://blog.simplefx.com/
Download the SimpleFX App for iOS devices – https://simplefx.com/ios
Download the SimpleFX App for Android devices – https://play.google.com/store/apps/details?id=com.simplefx.app
Watch a SimpleFX YouTube video – https://www.youtube.com/channel/UCsBdrL2JIv4KxhjM2Gw5ccw
Simple FX is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of stable value, or of any value at all.
PrepayWay – A Swiss FinTech Holding Announces Start of Equity Crowdfunding Campaign
March 21st, 2019, Switzerland – People from different parts of the globe have an opportunity to contribute to the equity of the Swiss-Estonian startup using cryptocurrency. The self-hosted campaign brings together crypto backers and traditional crowdfunding contributors. Supporters will gain equity of the Fintech venture that plans to issue its own token, InBit.
PrepayWay is developing new technology for secure and risk-free transactions with new, unfamiliar business partners. At the same time, the PrepayWay technology focuses on the flaws of the existing transaction process: an obsolete document workflow management system is replaced by instant access to transaction information for all supply chain participants and remote signing of contracts. The bureaucracy of contracting and payment procedures are replaced by an integrated money transfer service and risk management solution embedded in contracts. Lengthy litigation gives way to time and cost-efficient smart arbitration for dispute resolution.
PrepayWay combines the functions of lawyers, banks, escrow agents, and arbitral institutions and offers an all-in-one solution for international contracting, financing, payments, and dispute resolution. Just as smartphones have changed the way people interact and communicate by combining multiple functions in a single device, PrepayWay is changing the way businesses function.
The funds raised during the crowdfunding campaign will be used to develop solutions for international trade and real estate and a platform for diversification of international crowdlending. The contributors are offered equity in PrepayWay Systems Estonia OÜ, a subsidiary of the PrepayWay AG holding, that is developing the above-mentioned solutions. The roadmap can be seen on the company’s website.
Hard Cap: EUR 2 450 000.
Detailed information can be found here – https://prepayway.com/en/crowdfunding
The idea for PrepayWay was born in Switzerland, where computer science, banking, international business, and legal professionals came together to revolutionize business processes. Coming from a plethora of professional backgrounds, PrepayWays’ diversely experienced team is dedicated to creating an ecosystem that facilitates secure, swift, transparent commercial transactions, all while reducing transaction costs.
Visit the PrepayWay Official Site – https://prepayway.com
Chat on Telegram – https://telegram.me/prepaywaychat
Follow on Twitter – https://twitter.com/PrepayWay
Like on Facebook – https://www.facebook.com/PrepayWay
Meet the team on LinkedIn – https://www.linkedin.com/company/prepayway/
Check out PrepayWay on Medium – https://medium.com/@prepayway
Media Contact Details
Contact Name: Mirjam Ruut
Contact Email: [email protected]
Prepayway is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
DigiByte Price Turns Bullish as Top Markets Cave Under the Pressure
There is still plenty of bearish pressure across all cryptocurrency markets at this time. While that might not please too many users, it is evident this pressure will not relent automatically either. Despite this overwhelming pressure, it appears the DigiByte price is still moving up rather swiftly. A bit of a surprising development, as this market is often overlooked by most traders and speculators.
DigiByte Price Trend Looks Appealing
Not all cryptocurrencies follow Bitcoin’s price trend blindly. That in itself is quite promising in this day and age, although one has to wonder if this situation can remain in place for very long. As of right now, it seems DigiByte is capable of successfully avoiding Bitcoin’s trend, although it is doing so in a way that might not make too much sense to a lot of enthusiasts. Especially its very weak trading volume is a big question mark.
Over the past few hours, the DigiByte price managed to gain 9.42% in USD value and 11.13% over Bitcoin itself. Both trends are very impressive, especially for an altcoin which barely notes $2.881m in trading volume. Because of this somewhat surprising uptrend, the current value per DGB sits at $0.014539, or 362 Satoshi. As both of these trends prove to be somewhat promising, one also has to wonder how long they will remain in place. Bucking the overall industry-wide trend for very long is usually rather difficult.
When it comes to surprising developments like these it is pertinent to keep an eye on social media. Although the opinions on DigiByte are a bit all over the place, some users would like to see DGB make its way to Coinbase in the very near future. While it is not impossible by any means, it will be interesting to see if the company effectively takes customer feedback to heart in this day and age.
Coinbase Custody continues to add new assets as well, fairly quick turn around based on client interest. Let us know what you'd like to see next. https://t.co/DBf3ujl6HY
— Brian Armstrong (@brian_armstrong) March 21, 2019
CryptoDucky, on the other hand, isn’t too bothered with having this altcoin listed on more exchanges such as Coinbase. Instead, he predicts DGB is one of the two currencies one needs to hold to become rich in the near future. While that level of optimism certainly is something else, it seems unlikely either of those two markets will pop off when Bitcoin remains as bearish as it is right now.
— CryptoDucky (@CryptoDuckyNr1) March 22, 2019
For traders willing to take a bit of a gamble with DigiByte, there is an interesting triangular arbitrage opportunity worth looking into. It can yield a potential profit of over 11%, although it does require the use of some lesser-known exchanges and trading platforms. As such, this option might not be as appealing to everyone, but it is still an option worth looking into regardless.
— KoinKnight (@KoinKnight) March 22, 2019
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.