The digital currency Ripple in a narrow, bearish range on Friday for a second session in a row, as it is making its second weekly gain following a recent rebound from its lowest level since December 22 in corrective action following its 80% decline. At the start of the year at $ 3.30 amid escalating control and ban actions by authorities around the world.
At 07:21 GMT, the digital currency, Ripple , fell 1.14% to $ 1.0900, compared to the opening levels of $ 1.10480, after recording a low of $ 1.06170, while a high of $ 1.11460. $ 110 billion.
We have followed earlier in the day the statement of the Supervisory Board of the Swiss financial markets on the digital currencies and preliminary proposals, which said that the primary ways of the currency should be considered individually and that all the initial proposals to abide by the laws and financial regulations and that will be focused on economic employment and the purpose behind the units sold And that the Commission will consider the Tokens units as an investment vehicle.
The TRA's statement stated that there is a lot of emphasis on the importance of following up on the money laundering authorities and regulating the securities of all the established proposals and that the applications that fail to comply with banking rules and investment regulations will not be accepted, noting that the Authority will have to coordinate with the Anti Money Laundering Authority For initial payment of proceeds and will not be treated as securities.
Otherwise, we have also followed earlier in the day announced the US company Rabeel in a press statement that the Central Bank of Saudi Arabia has signed an agreement with them to help banks in Saudi Arabia to settle payments using the technique of Albucchin, explaining that this pilot program is the first of its kind launched by A central bank and allows banks in the Kingdom to use a quick settlement technology for immediate settlement of payments sent to and from the Kingdom faster, cheaper and more transparent.
On Wednesday, Swiss National Bank (SNB) member Zerberge noted that the Swiss central bank is not planning to issue a digital currency and that digital currencies will not be a substitute for currency in the near future, pointing out that digital currencies are not a threat to banks Central World at present.
Meanwhile, the South Korean presidential palace has recently commented on digital currencies that the prohibition of illegal digital currency transactions is the government's responsibility and that South Korea will continue its campaign against illegal digital currency transactions, noting that the government will announce its plans to develop the The first half of this year.
This came hours after remarks by Japanese central bank governor Haruhiko Kuroda and his European Central Bank Governor Mario Draghi on the digital currencies, which included Kuroda said that they are used heavily in speculation and can not be seen as real currencies. Draghi notes that the European Central is very interested in the technology of the blockchain, Adding that the digital currencies are not real currencies and that it should be cautious of investment because it does not receive support from central banks in addition to it is not the European Central Bank to work on the organization of transactions.
In a recent press release, the Financial Services Regulatory Authority (ADSB) said in a press release that it was considering whether to set a framework for the virtual currency exchanges, noting that it would review laws and regulations dealing with digital currencies and engage with competent bodies, experts and stakeholders. With the aim of developing a comprehensive regulatory framework that would allow the circulation of digital currencies.
The Dubai Multi Commodities Center (DMCC) statement earlier this week that Regal Raed-n-C-C in Dubai has the first digital license in the Middle East and that the central bank is also planning to set up rules for digital currency trading, A market that offers digital currency storage services in vaults at the central headquarters in Almas Tower.
And that the company is set to launch an online trading platform for digital currency trading, since the central bank views the currencies as a commodity rather than a means of payment. We would like to point out that the UAE Central Bank confirmed earlier in the year that the use of currencies As official currency because of its use in illegal operations such as money laundering and financing of terrorist operations.
This comes in the wake of comments by IMF President Christine Lagarde on the sidelines of the World Summit of Governments in Dubai that the digital currencies will be subject to government regulation, explaining that it will take some time only, adding that it is inevitable with the emphasis on the need for international cooperation to develop a framework for this Regulation, and that there is likely to be a great deal of dark activities related to digital currencies.
And that the Fund is striving to prevent its use in money laundering operations and the financing of terrorist groups, saying that legislators should shift their intense focus from the institutions to their own activities, and coincided with Lagarde's comments earlier this week with the United Arab Emirates Exchange Company Ripple Company to provide immediate and series international financial transfers.
Becoming the largest payment solution provider in the Middle East by the UAE, following the accession of a leading market leader such as Emirates Exchange to Ripple , a network of projects that link more than 100 banks and international financial institutions to provide immediate, limited and low-cost payments to millions Of customers in the UAE who make remittances abroad.