It has been one strong week with various developments for the cryptocurrency ecosystem. ESA or the European Supervisory Authorities have pointed out to customers to stay cautious when it comes to crypto investing as it has clear signs of high risk in a consumer warning pan-EU released on Mon Feb 12.
“The ESAs warn consumers that VCs (virtual currencies) are highly risky and unregulated products and are unsuitable as investment, savings or retirement planning products.”
Tharman Shanmugaratnam – Singapore’s deputy prime minister, added on released report that the gov officials will not ban digital currencies as they are included in the regulatory plans.
“…(MAS) has been closely studying these developments and the potential risks they pose. As of now, there is no strong case to ban cryptocurrency trading here,” the deputy PM said.
A just declared partnership has been signed down by the San Francisco located start-up Ripple and a UAE [Abu Dhabi] based remittance firm.
“The early adoption of this game-changing technology allows us to offer a competitive service, as it will have an impact on the speed and cost of cross-border transactions,” Promoth Manghat, the company’s chief executive, was quoted as saying by Business Insider.
And now the crypto-wave is best being ridden by Stella [XLM] as the seventh top cryptocurrency, has a selling price of $0.417831 at the time of writing. XLM is currently up 5.54% in the past 24 hours.
Since the dip in Feb 11, the pair XLM/USD has gain 16.5 percent in value beating trending names and its competitor like Ripple which is in the negative 3.65 percent in the last 24-hours.
Stellar Lumens, unique digital assets, make their way to easier accessibility with the launch of XLM trading on a London-based cryptocurrency exchange CEX.IO. The coin introduced the community to the new era of multi-currency payments and is heading towards wider acceptance being added on the exchange.