Cryptos Stronger as Stability Soothes Nerves

Citibank has banned the use of its credit cards in India for cryptocurrency speculation. The UAE is set to issue new regulations regarding ICO’s in the near future.

Citibank Bans Credit Cards for Cryptos in India, Tax Issues on Rise

Citibank announced early this morning it will no longer allow its credit card clients in India to trade cryptocurrencies. The ban comes in the wake of other banks deciding to quash the use of credit cards to trade digital assets. The India government has made it known it will continue to crackdown on tax issues surrounding profits which are not being reported via traders. It has been reported that over 100,000 notices have recently been sent to cryptocurrency traders in India by the income tax department.

Ripple’s Offers Appealing Speculative Opportunity, Stable Range Short Term

Ripple is near 1.00 U.S Dollar per coin early and its range has been stable this week. After hitting important resistance around the 1.15 juncture on Friday and coming under pressure, Ripple has climbed back from lows of approximate eighty-seven cents. The stability of Ripple in the short term may be appealing for speculators who are looking for an opportunity, which remains extremely cheap compared to Bitcoin and Ethereum – and allows for a greater amount of coins to be speculated upon.

United Arab Emirates Financial Services Regulatory Authority Taking Action

The broad cryptocurrency market has continued to test short-term highs this week even as regulatory winds continue to build regarding the use of credit cards and issues regarding taxes. The United Arab Emirates Financial Services Regulatory Authority is reportedly close to publishing a new set of regulations regarding Initial Coin Offerings to make sure activities and risks are handled with due diligence.

Oil and Gas Blockchain Event in Calgary, Canada Today & Tomorrow

Calgary, Canada is hosting a Blockchain, I.O.T and Machine Learning conference today and tomorrow for the Oil and Gas Industry.

• 14-15th, Canada, Blockchain, IOT & Machine Learning in Oil & Gas

Yaron Mazor is a senior analyst at SuperTraderTV.

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