Australia approves the first fund for trading in digital assets Bitcoin settles near 25 thousand dollars.

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Some cryptocurrency exchanges will be prohibited

With expectations of the return of Iranian crude oil prices recorded a decline.

Some cryptocurrency exchanges will be prohibited

According to a report from the “Bloomberg” agency,
the regulatory authorities in South Korea are now looking into a number of cryptocurrency
trading platforms that operate and offer services to clients without the required licenses.
About 16 unauthorized foreign trading sites, including Poloniex, Bitrue, and CoinEX,
are said to be active in South Korea, according to the regulator’s statement.

And South Korea is strict in this regard. According to the local regulations in South Korea,
for individuals or companies that provide their services without a license or illegally,
the penalty may be up to 5 years in prison or a financial fine of up to 50 million won.

Australia approved the first digital asset trading fund

Monochrome Investment Company has obtained approval from the Australian Securities
and Investments Commission to operate ETFs on the exchange and
can provide cryptocurrency management services such as Bitcoin and
Ethereum to retail traders and investors.

The company responsible for the investment fund indicated
that this is a very good opportunity to open the prospects of trading in the cryptocurrency market
in an organized manner away from high risks.

The rise in hacking crimes in the cryptocurrency market this year

In a report published last Wednesday by blockchain data analysis company Chainalysis,
the crime rate related to cryptocurrency theft has risen unprecedentedly in the last 7 months,
despite the strong declines in the markets.

The report showed that more than 202 million dollars were stolen in just the last two weeks,
in addition to 1.9 billion dollars of lost investor funds until the end of July,
an increase of 37% over last year.
The report indicated that the reason for the crimes related to the theft of digital currencies
is the penetration of digital currencies in conjunction
with the transformation of the industry to decentralized finance.

Bitcoin drops 10% due to Fed

The cryptocurrency Bitcoin recorded a decline in the market as a result of the belief
that the US Federal Reserve will not retreat in terms of tightening monetary policy in the near future,
at a time when officials believe that interest should rise at a rate of 75 basis points,
but despite the rise of Bitcoin near the levels of 25 thousand dollars,

it is Some analysts’ opinions indicate that this may be a correction
wave before completing the big drop

With expectations of the return of Iranian crude oil prices recorded a decline

At the beginning of this week’s trading, oil prices fell,
with expectations of the return of Iranian crude and thus an increase in supply in the markets,
with weak expectations regarding the growth of the economy.

Where the futures contracts for Brent crude recorded losses by about 1%
to settle at 96 dollars a barrel after it continued its increases during the last three sessions.
To 89.63 dollars a barrel, about 1.3%, on the New York Stock Exchange.

On Sunday,

US President Joe Biden spoke with leaders from France,
Germany and the United Kingdom regarding reviving the nuclear agreement with Iran,
and this in turn would lead to an increase in supplies from the country that
is a member of the Organization of the Petroleum Exporting Countries.

Oil had given up gains since the Russian war on Ukraine in February,
as concerns escalated about a slowdown in the global economy.

Warren Patterson, head of the commodity strategy at the ING Group,
said that the market balance during the remainder of the year is not considered weak as many expect,
especially with the continuation of Russian supplies in a good way.

He also added that for Iran

it would take several months for production to return to its pre-sanction levels if a deal was struck,
but in the short term, it was still supposed to be able to boost exports by relying on storage.

The Iranian Foreign Ministry stated that the negotiations witnessed
good progress regarding talks to revive the nuclear agreement and that
if Tehran needs to reach an agreement,
the Europeans and the United States need it more.

And the head of OPEC, Haitham Al-Ghaid,
also expected that the markets will not be affected by the Iran agreement,
adding that global demand is still good,
and enough to absorb any additional flows from Iran.

Barclays Bank said that as the European Union reached full implementation in the next year 2023,
it is expected that Russian oil supplies will decrease by 1.5 million barrels per day
compared to levels prior to the Russian invasion of Ukraine.

Australia approves the first fund for trading in digital assets

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