Price
The movement proceeds along the upper border of the supportive zone 5750 – 6250. Thin volatility and leaning towards 6250 level shows the lack of support so the price will be moving downwards, looking for support. Levels 6150, 6100 and 6000 all have a chance to be tested today. From the upside, weekly bearish trend line, which pushes the price closer to 6250 should be pierced in a first place to consider any chances of an upward movement, 6400 and 6600 after. Overall review stays bearish until the comeback above 7000 mark.
Today forecast
Trading in the 6000 - 6600 zone. Fall below 5750 – strong bearish signal.
Latest news
The movement proceeds along the upper border of the supportive zone 5750 – 6250. Thin volatility and leaning towards 6250 level shows the lack of support so the price will be moving downwards, looking for support. Levels 6150, 6100 and 6000 all have a chance to be tested today. From the upside, weekly bearish trend line, which pushes the price closer to 6250 should be pierced in a first place to consider any chances of an upward movement, 6400 and 6600 after. Overall review stays bearish until the comeback above 7000 mark.
Today forecast
Trading in the 6000 - 6600 zone. Fall below 5750 – strong bearish signal.
Latest news
- REcoin and Diamond will be treated as securities
The campaign for the initial placement of coins (ICO) falls under the legislation in the field of securities, at least in the criminal aspect. Such a verdict was made on Tuesday, September 11, Brooklyn district Judge Raymond Dearie, Reuters reports.
In particular, the judge recognized as lawful the criminal prosecution of US citizen Maxim Zaslavsky, who was arrested last November on charges of deceiving cryptocurrency investors and conducting two fraudulent ICOs.
Zaslavsky collected at least $300 thousand. He was selling REcoin tokens, which, he said, were secured by real estate, as well as Diamond coins allegedly secured by a real diamond business. Prosecutors, however, disagree with him and stress that the tokens were not released at all.
In March, the lawyers of the accused filed a petition asking them to drop the charges, since the case is connected with currencies, not with securities, and does not fall under the securities law.
However, on Tuesday, September 11, Dearie rejected the petition and stressed that the application of the federal law on securities should be "flexible." He noted that the Securities and Exchange Commission (SEC) also considers some crypto-currencies as securities.
- SEC’s Action Against Crypto Asset Management (CAM)
Tuesday SEC “announced its first-ever enforcement action finding an investment company registration violation by a hedge fund manager based on its investments in digital assets.”
According to the order against CAM and its sole principal, Timothy Enneking, the firm raised more than $3.6 million over a four-month period in late 2017 “while falsely claiming that the fund was regulated by the SEC and had filed a registration statement with the agency.” The Commission clarified:
“By engaging in an unregistered non-exempt public offering and investing more than 40 percent of the fund’s assets in digital asset securities, CAM caused the fund to operate as an unregistered investment company.”
The firm “ceased its public offering and offered buy backs to affected investors” after being contacted by the Commission. “CAM and Enneking agreed to the SEC’s cease-and-desist order and censure without admitting or denying the findings against them, and agreed to pay a penalty of $200,000,” the agency concluded.
