RIYADH: Bitcoin, the leading cryptocurrency internationally, traded lower on Monday, down 3.70 percent to $20,539 at 12.10 p.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $1,144, down 3.67 percent, according to data from CoinDesk.
G20 watchdog to propose first global crypto rules in October
The Financial Stability Board on Monday said it would propose “robust” global rules for cryptocurrencies in October, following recent turmoil highlighting the need to regulate the “speculative” sector.
The FSB, a body of regulators, treasury officials and central bankers from the Group of 20 economies, has limited itself to monitoring the crypto sector, saying it did not pose a systemic risk.
But recent turmoil in crypto markets has highlighted their volatility, structural vulnerabilities and increasing links to the wider financial system, the FSB said.
“The failure of a market player, in addition to imposing potentially large losses on investors and threatening...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...