Newsflash of October 14

Market Cap at 1:47 (UTC) – $225,238,987,749 billion 

Bitcoin dominance: 66.4 % 

BTC $ 8,313.94 (-1.3%)

ETH $183.73 (-0.3%)

XRP $0.288944 (+3.55%)

SEC stops Telegram

On October, 11th, the Securities and Exchange Commission published a press release halving Telegram from conducting digital token offering. Per the press release, SEC is restraining two offshores entities which are Telegram Group Inc. and its subsidiary, TON. SEC believes that Telegram has sold unregistered securities token and failed to disclose business operations, financial condition, risk factors and required securities managements. Currently, the investigation is taking place by various members from SEC’s Cyber Unit.

Stablecoins poses possible to financial stability

According to FSB’s letter to G20, crypto-assets do not pose a threat to financial stability but stablecoins can. In the letter, the FSB assumes that stablecoins can post a host of challenge to the regulatory community and to financial stability, consumer and investors protection, data privacy and protection, AML/CFT, KYC, taxing, fair competition, etc.

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