CoinNess Daily Briefing
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Wednesday, June 19, 2019
Market Review

CoinNess.com Market Surveillance June 19: BTC Trading Above $9100
As of 11:00 (UTC) on June 19, the global index of Bitcoin (BTC) swings above the $9,100 level, marking $9,144.27, with a decrease of 0.78% in the past 24 hours. 
The CoinNess.com Bullish vs. Bearish Indicator shows our four-hour technical bias on BTC is "Neutral" with six indicators sending out a selling signal, six showing a neutral signal, and six indicating a buying signal. 
The broad market is trading sideways, with 50 out of Top 100 cryptos by market cap rising. 
The global market cap reads $286.47 billion, and the 24-hour trading volume is $50.06 billion.

Major Coins
1. BTC quotes show 9,110.21 USDT on Binance, $9,129.20 on Bitfinex, and $9,119.80 on Coinbase Pro;
2. CoinNess.com Market Index presents quotes for major cryptocurrencies besides BTC as following:
ETH marks $268.13 (-0.52%);
XRP marks $0.432 (-1.48%);
LTC marks $137.75 (+4.55%);
BCH marks $416.60 (-0.56%);
EOS marks $6.88 (-1.14%);
ETC marks $8.57 (-0.44%)

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Todays Headlines

1. The Russian lawmakers may adopt the bill "on digital financial assets" over the next two weeks, according to Deputy Finance Minister Alexei Moiseev. Also, the Duma will pass a separate bill that will govern the ICO industry. It is called "On alternative ways raising investments (crowdfunding)." 
He also stated that the taxation of cryptocurrency activities was not discussed during the meeting mentioned above. At the same time, Moiseev noted that this is "ordinary human activity, that should be regulated like everything else."
                                                                         
                                                                                                                                   
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2. Bancor, the decentralized trading platform, is closing its doors to U.S.-based traders, the firm announced on June 18. 
"Beginning July 8, 2019 (09:00 AM EST) US citizens, domiciliaries or users from US IPs will no longer be able to use Bancor's web application, (link: http://bancor.network) bancor.network, to convert tokens. Users can still access, hold, and transfer tokens," Bancor said. In other words, users will lose the ability to swap coins. However, users will still be able to move coins on and off the platform, according to the blog.  
                                                                                                           
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Hot In Asia

1. According to Coinpost, at the end of June, representatives of cryptocurrency industry will discuss with the regulatory authorities on The Financial Action Task Force's (FATF) latest guidelines on crypto asset. The main roles of the V20 Summit will be as follows: 
1. During the G20 Summit in Osaka, the key stakeholders from the cryptocurrency industry, government institutions, and FATF working group will conduct round-table discussions; 
2. The cryptocurrency industry submit the coordinated regulations that can reflect the uniqueness of the crypto assets, which intends to influence the FATF proposal; 
3. In order to respond appropriately, the cryptocurrency industry will propose to extend the effective date of the new FATF standard; 

4. Develop protocols and standards to support the platform for meeting FATF information collection requirements. 

                                                                                                      Read More

2. Korean cryptocurrency exchange Bithumb ​​was indicted by the Cyber Investigation Department of the Seoul Eastern District Prosecutor's Office for the violation of information and communication network law. The Investigation Department found that even if the same IP repeatedly accessed the network, Bithumb did not take any measures. Before this, users of the exchange suffered thefts due to information disclosures. But, Bithumb rejected to confuse the two.
                                                                                                       Read More
                                                                                                                   

Q & A

Question: 

 What is Libra?

 

Answer:

The social media behemoth Facebook announced that it's creating a cryptocurrency called Libra to debut in 2020. The currency, built on blockchain, the technology underlying other cryptocurrencies like Bitcoin, was developed in part to ease money transfers across borders and serve un- and underbanked populations around the globe. The currency is meant to be sent almost instantly, with fewer fees than current money transfer services.
Libra will be managed by a Swiss-based nonprofit. It is currently backed by Facebook and more than two dozen 
Founding Member companies
, including Ebay, Uber, Lyft, Spotify, Visa, Mastercard, PayPal, Coinbase and venture capital firm Andreessen Horowitz. Unlike other cryptocurrencies, Libra will be backed by "real" government-backed assets from central banks to give it stability.
                                                                                     
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