Subscribe to our free daily newsletters
  Energy News  




Subscribe to our free daily newsletters



TRADE WARS
Watchdog warns of 'high risk' digital currency offers
by Staff Writers
Paris (AFP) Nov 13, 2017


A European financial markets watchdog warned Monday of the risks to investors of putting money in Initial Coin Offerings (ICOs), and to firms of stepping over the line of legality.

The Paris-based European Securities and Markets Authority (ESMA), an independent EU body, said it had observed "rapid growth" in ICOs and "is concerned that investors may be unaware of the high risks that they are taking when investing in ICOs".

Firms issuing ICOs, meanwhile, "may conduct their activities without complying with relevant applicable EU legislation", the body said.

In offerings of ICOs -- a term borrowed from Initial Public Offerings (IPOs) on stock markets -- a group of people creates its own virtual currency and raises funds by selling it to investors.

These coins are then traded for traditional currencies, like the euro or the dollar, or other virtual currencies like bitcoin or ether.

The price of a new coin, also known as a "token", is "typically extremely volatile", the ESMA noted, and warned investors may not be able to redeem them "for a prolonged period".

If such operations fall outside of EU rules and regulations, investors also cannot benefit from legal protection if the investment goes sour, it said.

Fraud and money laundering were also a risk possibly involved in ICOs.

The warning comes as bitcoin, the best-known virtual currency, is experiencing a volatile trajectory.

Early Monday, bitcoin fell to $5,605, a drop of nearly 30 percent from its November 8 record high. By late morning, it had recovered somewhat to $6,425.

Analysts said traditional bitcoin is under pressure from rival "bitcoin cash", which was created this summer by a breakaway group of bitcoin users.

TRADE WARS
ASEAN, Hong Kong sign deal in 'vote for open trade'
Manila (AFP) Nov 12, 2017
Hong Kong and Southeast Asian nations signed a free trade deal Sunday, in what one minister described as a "clear vote" against protectionism, as the United States withdraws into its "America First" rhetoric. The city, a special administrative region of China, forged the agreement with the Association of Southeast Asian Nations (ASEAN) on the sidelines of a summit in Manila to be attended by ... read more

Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Improving sensor accuracy to prevent electrical grid overload

Japan faces challenges in cutting CO2, Moody's finds

IEA: An electrified world would cost $31B per year to achieve

'Fuel-secure' steps in Washington counterintuitive, green group says

TRADE WARS
Scientists make progress in quest for fusion energy

Cool textiles to beat the heat

A novel layered superconductor based on tin and arsenic

Scientists design smart paper capable of detecting water, conducting electricity

TRADE WARS
New York sets high bar for wind energy

Construction to begin on $160 million Industry Leading Hybrid Renewable Energy Project

A kite that might fly

Scotland outreach to Canada yields wind energy investment

TRADE WARS
China Saves the World, and America Too by Going Off-The-Grid

In Morocco, a blue tourist town is turning green

Mechanochemistry paves the way to higher quality perovskite photovoltaics

OMCO Solar expands to met demand for field-fast racking systems

TRADE WARS
AREVA NP introduces FORERUNNER robot to optimize steam generator inspections

France backtracks on nuclear power reduction target

Nuclear energy programs may not increase likelihood of proliferation

Bulgaria extends life of Soviet-era nuclear reactor

TRADE WARS
Sandia speeds transformation of biofuel waste into wealth

Study identifies additional hurdle to widespread planting of bioenergy crops

Penn researchers mimic giant clams to enhance the production of biofuel

Research aims to help renewable jet fuel take flight

TRADE WARS
An effective solution for collecting spilled petroleum

Oil price response to OPEC report on demand muted

Statoil makes headway with Barents Sea field development

Iraq targets 1 million bpd output for disputed Kirkuk oilfields

TRADE WARS
Developing world says rich nations shirking on climate

Cities can cut greenhouse gas emissions far beyond their urban borders

Syria to join Paris climate pact, isolating US

EU to cut car emissions to meet climate targets, rival China




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement