CoinNess Daily Briefing July 5: Malaysia Orders Unregistered Crypto Exchanges To Shutter, Refund Users

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Friday, July 5, 2019

CoinNess.com Market Surveillance July 5: BTC Rises Above $11k
As of 11:00 (UTC) on July 5, the global index of the Bitcoin (BTC) has climbed above $11,000, marking $11,296.52 with a decrease of 3.29% in the past 24 hours.
The CoinNess.com Bullish vs. Bearish Indicator shows our four-hour technical bias on BTC is "Sell" with nine indicators sending out a selling signal, six showing a neutral signal, and three indicating a buying signal.
The broad market is still in bearish trend, with 62 out of Top 100 cryptos by market cap decreasing.
The global market cap reads $322.25 billion, and the 24-hour trading volume is $76.67 billion.
Major Coins
1. BTC quotes show 11,280.88 USDT on Binance, $11,305 on Bitfinex and $11,290.28 on Coinbase Pro;
2. CoinNess.com Market Index presents quotes for major cryptocurrencies besides BTC as following:
ETH marks $293.83 (-0.49%);
XRP marks $0.383 (-3.63%);
LTC marks $120.05 (-2.81%);
BCH marks $406.88 (-2.03%);
EOS marks $5.85 (-1.89%);
ETC marks $7.81 (-0.58%).

1. Amun AG, a Swiss fintech company aiming to facilitate access to crypto asset investments, announced on Friday, July 5 that it has listed the first exchange traded product (ETP) tracking the performance of Bitcoin Cash (BCH).
The Amun Bitcoin Cash ETP is a fully collateralized product that is denominated in US dollars and has an annual investor fee of 2.5% that includes custody, insurance, and re-balancing fees. This new crypto investment instrument is seeded by Roger Ver with 25,000 BCH, worth more than $10 million as of today.

2. Writing on Twitter, TRON's founder Justin Sun said that on July 5, as a leading blockchain protocol, there are Ponzi schemes using TRON, BitTorrent or uTorrent names like "Nigerian prince scams," "MMM Bitcoin, Ethereum pyramid & EOS ecosystem schemes." "We will never ask you to send money. Be careful & hodl your TRX/BTT," he added.
Read More

3. Utah recently launched a regulatory sandbox that will enable fintech startups to test new products and services without getting a license.
The Department of Commerce anticipates that this service will provide fintech startups and entrepreneurs with a platform where they can easily launch their businesses. The department said that it will be responsible for applications in the sandbox and will also provide administrative oversight of it.

1. Citing a Chinese news outlet Jin10, Masayoshi Amamiya, Deputy Governor of the Bank of Japan, said that the central bank has no plan to issue cryptocurrency in the short term.

2. The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, is doubtful to launch its own digital currency and will continue to closely monitor digital currencies.
A June 5 report by the local news agency Phillstar Global detailed that Benjamin Diokno, the governor of the bank, took the decision after attending a meeting with his international counterparts at the Bank for International Settlements (BIS) in Switzerland late last month.
Read More 3. Financial authorities in Thailand are in contact with Facebook over the social media company's proposed cryptocurrency, Libra.
Siritida Panomwan, assistant governor for payment systems policy at the Bank of Thailand, said on July 5 that the social media company had requested talks with financial authorities in the south-east Asian country.
The assistant governor also said that the central bank has set up a task force to examine Facebook's proposed currency. That team is comprised of experts from the central bank's foreign exchange, payments and legal teams.
Read More
4. Malaysia's capital markets regulator has warned all unregistered crypto exchanges doing business in the country to end operations and give back investor funds.
In a press release, Securities Commission Malaysia indicated that only three digital asset exchanges were registered in the country. The three are Luno Malaysia, Sinegy Technologies and Tokenize Technology.
Apart from the three operators mentioned above, no other online platforms are permitted to establish and operate a DAX in Malaysia currently. As such, all other DAX operators are required to immediately cease all activities related to the trading of digital assets and return all monies and assets collected from investors.
Read More

Question:
How to keep your cryptocurrency safe?

Answer:

1. Be super careful with any online service - any device connected to the internet is vulnerable
2 Encrypt your wallet with a strong password
3 Make regular backups and store them in multiple locations
4 Use multisignature security, which helps maintain control of your coins even if one of your devices is compromised
5 Generate, write down and hide your wallet's mnemonic seed - a group of words you can use to restore your wallet in the event of a hardware failure

Disclaimer: CoinNess.com or anyone involved with CoinNess.com will not accept any liability for any trading loss or damage as a result of reliance on the information contained within this email including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. CoinNess.com would like to remind you that the data contained in this email is neither necessarily real-time nor accurate. All crypto prices, Indexes, Futures, buy/sell Signals and Forex prices are indicative and not appropriate for trading purposes; furthermore they are not provided by an exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price. CoinNess.com doesn't bear any responsibility for any trading losses you might incur as a result of using this data.

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