Summary:
-Spanish Treasury wants to eliminate tax evasion and money laundering through virtual coins
-Two new virtual currency investment funds were launched in Israel
-The regulatory body in Italy warns of three companies in the industry
After major week-long declines, the prices of the most important virtual currencies have calmed down. However, there are no signals indicating the approach of a return. Today we will discuss three news from Spain, Israel and Italy. The Spanish Treasury Secretary said he identified about 15,000 virtual currency investors in an attempt to prevent tax evasion and money laundering. The goal is to ensure that investors who earn earnings from virtual currency transactions will pay a tax. A paragraph in a local newspaper notes that these measures are being taken to "monitor the fiscal incidence of these new technologies, such as the blockchain and, in particular, the virtual currencies in order to eliminate tax evasion." In addition, among the targeted companies There are 16 banks and 40 companies offering virtual currency and payment transactions. We must remember that in October, the Spanish government approved a form of anti-fraud law in the idea of increasing control over this industry.
The Bitcoin price continues to be within a Triangle formation. It seems to be just a matter of time until the decreases are resumed.
Interesting information also comes from Israel, where an investment firm has launched two funds based on virtual currencies, and will inaugurate the third. The funds will adopt three investment strategies and will be dedicated to institutional and accredited investors. The Israeli company is registered in the Cayman Islands. This week, the CEO said the first fund is based on an algorithm that takes into account inertia and positions long / short on Bitcoin and five other top coins. The second is smart beta, investing in the top 10 virtual coins. In addition, the company plans to launch in Q1 2019, a third venture capital fund, which will participate in ICOs.
The Ripple price managed to stay inside the channel, which could indicate the possibility of a return in the near future.
The latest news comes from Italy, where the financial regulator, the National Commission for Companies and the Stock Exchange (CONSOB) sent warning signals about three companies offering virtual coins committed to trick the population by promoting investment and virtual money mining . CONSOB has submitted that these companies - Richmond Investing, Crypton and Eagle Bit Trade - are neither licensed nor authorized to do business in the country. The measures taken by CONSOB seem to be consistent with those of other regulatory authorities in Europe.