21.06.[News of the day] • The PBoC orders Chinese banks to cut off OTC accounts for cryptocurrency traders and other articles

Welcome to today’s overview of crypto news:

MARKETS

Although the value of BTC fell for a few days, it actually wiped out part of the losses over the weekend and was around $ 36,000. However, the trajectory of the price changed rapidly after the new FUD coming from China. The third largest bank in the country banned all its customers from trading in digital assets, which immediately affected the market.

As a result, BTC fell more than $ 2,000 in a matter of hours and $ 4,000 on a 24-hour scale. The asset fell to just over $ 32,000, making it the lowest price tag in about two weeks.

The second largest digital asset lost several hundred dollars in a matter of days and only deteriorated in the last 24 hours. The ETH fell by more than $ 300 to $ 1,980 in a relatively short period of time. For the first time since May 23, the asset fell below USD 2,000.

Technical analysis: BTC / USD – bears increase pressure, will it withstand key support?

Market Overview: Does the BTC Correction End?

Cryptocurrencies

The government auction of the confiscated Litecoin (LTC) ends today

The latest US government cryptocurrency auction, announced by the General Services Administration (GSA) on June 16, ends Monday (June 21) at 5:00 PM Eastern Time (9:00 PM UTC).

According to a GSA press release, a total of 8.93 BTC and 150.2 LTC were available for auction at the GSA Auctions in the last sale of cryptocurrencies at auctions, representing a total market value of almost $ 377,000. This is the first time that litecoins have been made available in the GSA Auctions auction house.

Before submitting a bid, registration is required and the winning bidder must make a bank transfer payment no later than June 23, 2021. [2a]

Banks, crypto exchanges, companies

CoinShares cooperates with the German company Finanzen Zero on the crypto ETP

CoinShares, Europe’s digital asset manager listed on the Nasdaq First North Growth Market, today announced a partnership with German financial intelligence portal Finanzen.net to bring investors crypto-traded products free of trading fees.

CoinShares will provide investors with its physically covered ETP on BTC, ETH and Litecoin on the Finanzen.net Zero platform, which was launched earlier this month.

Amber Group has raised $ 100 million to expand its cryptocurrency trading platform

The latest crypto company to receive massive investment from venture capital giants is Hong Kong’s Amber Group startup, which trades in cryptocurrencies.

The round of B-Series financing was led by China Renaissance and involved a number of major financial hedge funds. These included Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, Sky9 Capital, DCM Ventures and Gobi Partners.

Coinbase Ventures was one of the first investors in the Series A round in 2019, bringing in $ 28 million for this crypto startup. Thanks to the latest round, Amber Group now has a valuation of $ 1 billion before paying out, according to Tech Crunch.

CBDC, Regulation

Malta is under investigation for “lack of oversight” of cryptographic transactions

According to local media reports, the FATF allegedly praised Malta for its lack of oversight of cryptocurrency transactions. The Times of Malta reports that around € 60 billion in cryptocurrencies has passed through Malta. The country is a paradise for cryptocurrencie and related businesses, as it has put in place several favorable regulatory frameworks for economic growth.

The report said global experts reviewed Maltese anti-money laundering controls, saying the influx of cryptocurrencies into the country was described as “problematic”. Officials from the Financial Action Task Force (FATF), a global regulatory body to prevent financial crime, said the country should be on the list because it is not doing enough to fight financial crime.

Iran bans the blockchain association with reference to violations

The Iranian Ministry of Interior has suspended the activities of the Iranian Blockchain Association due to alleged violations of government regulations and alleged operation in violation of its own statutes, informs the Financial Tribune.

Hamshahri Online reported that the IBA had been ordered to provide the government with detailed financial reports that would reveal more about its cryptobore trades.

Earlier this month, Iranian President Hasan Ruhani said at a cabinet meeting that he needed strong regulation of crypto services to “preserve and protect national interests.” Iran banned cryptocurrency mining last month after the energy-intensive process was accused of a series of power outages in several cities. The ban is expected to remain in force until the end of September.

The PBoC orders Chinese banks to cut off accounts for OTC cryptocurrency traders

In its latest effort to curb cryptocurrency trading, China’s central bank has ordered domestic banks to cut off OTC crypto funding channels.

The People’s Bank of China (PBoC) issued a statement on Monday stating that it had recently convened a meeting with several domestic banks and mobile payment service providers. These included the Industrial and Commercial Bank of China (ICBC), the Agricultural Bank of China (ABC), the Construction Bank of China (CBC), the Postal Savings Bank of China, the Industrial Bank and also AliPay mobile payment applications.

The PBoC said speculative activity around the cryptocurrency trade seriously upset the balance of China’s financial system and created a risk of illegal cross-border capital outflows and money laundering. It reiterated its 2017 position that no financial institutions should provide banking and settlement services for cryptocurrency transactions.