Prices Of Cryptocurrencies Are Falling After Goldman Sachs Abandoned Its Plans Regarding Bitcoin
Goldman Sachs Group Inc. refused to open a platform for trade in cryptocurrencies, since the regulatory framework for cryptocurrency is unclear.
As pursuant to the Financial News website reports in recent weeks, executives have come to the conclusion that more steps need to be taken, most of which are beyond the control of the bank, before the regulated bank will be allowed to trade in cryptocurrencies.
Regulators around the world have stepped up their activities to study the initial coin offerings (ICOs) and cryptocurrency exchanges.
The Securities and Exchange Commission of the United States warned last year that some of the coins issued in the ICO could be considered securities, which means that their trade must comply with federal securities laws.
Authoritative crypto-bulls call not to succumb to the negative and keep the cryptocurrency until better times. However, even a layer of convinced “investor-brokers” is able to average, if BTC can not keep the level of support by $ 6,000.
Virtual Currency can be used to move money around the world quickly and with relative anonymity, without the participation of a central authority such as a bank or government.