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Crypto Update: ICO’s Getting Attention from Swiss Authority, Ripple Rises Solidly

Ethereum co-founder Vitalik Buterin issued a warning about cryptocurrency scams on social media yesterday. And the Swiss FINMA has said it will look at ICO’s based on their individual merit.

Ethereum Co-founder Vitalik Buterin Issues a Warning on Cryptocurrencies

The co-founder of Ethereum provided insights regarding cryptocurrencies yesterday, saying the asset class could fall violently in value at any moment. Vitalik Buterin also warned about scams on social media sites like Twitter in which sites are offering free tokens. Cryptocurrency values have come off highs established on Friday, but do remain near their short-term ratios which have been strong.

Ripple Produces Solid Gains, New Bull Trend or Downturn Emerging?

Ripple has enjoyed a steady rise in value the past week. After trading near 90 U.S cents per coin on February the 11th, Ripple is now around 1.10 U.S Dollar per coin. The main catalyst for Ripple’s rise is the fact that Ripple is now listed in Coinbase. Resistance looks to be about the 1.22 juncture, with support remaining around 89 cents near term. Gains before going into the weekend put Ripple near 1.18, but it did find some headwinds. Speculators who have enjoyed profits short term are looking at other major cryptocurrencies like Bitcoin and Ethereum, and wondering if digital currencies are again entering a bull trend, or if another downturn will emerge?

Ripple 4H Chart
Ripple 4H Chart

FINMA Issue Statement on Initial Coin Offerings a Potential

Switzerland’s Financial Market Supervisory Authority, known as FINMA has said it will issue guidelines on how to deal with Initial Coin Offerings depending on the ICO’s individual merits. FINMA has said it will issue principles which focus on an ICO’s function and its ability to transact tokens. FINMA has indicated transparency and regulation will be important moving ahead for ICO’s, but also said it believes Blockchain as a technology offers innovative potential.

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Gathering of Blockchain and Payment Experts in New Delhi, India

A Blockchain conference will get underway starting tomorrow in New Delhi, India and last until Wednesday, which is part of the BlackArrow Series.

  • 20-21st, India, BlockDelhi

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

This article was originally posted on FX Empire

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