Bitcoin started to look a little bit more positive on Tuesday when we saw it break past $7,000. But on Thursday we saw it fall below $7, 000 again.
The price fell lower after reports suggested that Finance Ministers might discuss crypto regulations in Europe on September 7th. European Union Finance ministers are expected to meet in Vienna to discuss the growth of cryptocurrencies and whether they need to be regulated or not.
According to a Bloomberg report, a draft note for the meeting says that the Finance ministers will discuss challenges such as lack of transparency and the potential for cryptocurrencies to be used for money laundering, tax evasion and terrorist financing. And the Finance Ministry of Poland recently published a bill to clarify cryptocurrency taxation. The new bill is expected to be reviewed in the third quarter.
Let’s see what else is happening in the crypto world, this week TRON held an event to officially launch the Tron Virtual Machine, which is fully compatible with Ethereum . It claims to be faster and has lower costs.
This week we saw Tron’s TRX climbing ahead of the launch, but we then saw it start a downward trend once again on August 30th.
And also hitting headlines this week is Huobi cryptocurrency exchange as it acquired a controlling stake in Hong- Kong based investment company Patronics.
Please remember this is news, not investment advice.