Cryptocurrency Heard for the Month: 18 July 2022

Google Updates to Financial products and services policy for July 2022

In July 2022, Google will update the Financial products and services policy to clarify the scope and requirements for the advertisement of cryptocurrency related business and services.

Since July 7th, 2022, advertisers offering Cryptocurrency Exchanges and Wallets targeting France, Germany, South Korea and the Philippines may advertise those products and services when they meet the following requirements and are certified by Google.

Advertisers offering Cryptocurrency Exchanges targeting the United Arab Emirates, Hong Kong and Thailand may also advertise those products and services when they meet the following requirements and are certified by Google. To be certified by Google, advertisers will need to meet the following requirements, depending on the country they are targeting:

France (Cryptocurrency Exchanges and Wallets)

Advertisers must be registered with the AMF (Autorité des Marchés Financiers) as a Digital Asset Service Provider (DASP). Any other local legal requirements must also be complied with.

Germany (Cryptocurrency Exchanges and Wallets)

Advertisers must hold the appropriate license for the advertised activities, e.g. financial brokering services license, multilateral trading facility license and/or crypto custody business license with the BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht). Any other local legal requirements must also be complied with.

 Philippines (Cryptocurrency Exchanges and Wallets)

Advertisers must obtain a certificate of authority as a Money Services Business from the Philippine Central Bank (BSP). Any other local legal requirements must also be complied with.

 South Korea (Cryptocurrency Exchanges and Wallets)

Advertisers must have successfully filed a virtual asset service providers (VASP) Report with the Commissioner of the Korea Financial Intelligence Unit (KoFIU). Any other local legal requirements must also be complied with.

 United Arab Emirates (Cryptocurrency Exchanges)

Advertisers must be licensed to operate a multilateral trading facility with the Financial Services Regulatory Authority (FSRA). Any other local legal requirements must also be complied with.

Hong Kong (Cryptocurrency Exchanges)

Advertisers must “opt-in” the licensing regime and have obtained a type 1 (dealing in securities) license and type 7 (providing automated trading services) license from the Securities and Futures Commission (SFC) of Hong Kong. Any other local legal requirements must also be complied with.

 Thailand (Cryptocurrency Exchanges)

Advertisers must obtain the relevant Digital Asset Business license from the Securities and Exchange Commission (SEC) of Thailand. Any other local legal requirements must also be complied with.

Further, all advertisers must comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these financial products. For more details, see About restricted financial products certification. Violations of this policy will not lead to immediate account suspension without prior warning. A warning will be issued, at least 7 days, prior to any suspension of your account.

In the last Cryptocurrency article, we suggested that mid June was probably a good entry point to  buy the previous listed suggested currencies, such as Solana (SOL) at or below $27.50, Avalanche (AVAX) buy at or below $15.00, VeChain (VET), buy at or below $0.023, Cardano (ADA) buy at or below $0.50, Ethereum (ETH) buy at or below $1,007, Bitcoin (BTC) buy at or below $20,600, and Binance Token (BNB) buy at or below $207.

Last Month Review

The following were our suggested entry price for:

 Solana (SOL):  $27.50

Avalanche (AVAX):   $15.00

VeChain (VET) 0.023

Cardano (ADA):  $0.50

Ethereum (ETH):  $1.007

Bitcoin (BTC):  $20,600

Binance Token (BNB):  $207

Litecoin (LTC):  $50.50

 

Solana (SOL) Current Price:  $36.01, UP 30.95%

About Solana

Solana (SOL) is a cryptocurrency launched in 2020. Solana has a current supply of 511,616,946.142289 with 325,111,693.31357527 in circulation. It is currently trading on 278 active market(s) with $2,826,129,315.76 traded over the last 24 hours. More information can be found at https://solana.com.

Avalanche (AVAX)  Current Price:  $19.38, UP 29.20%

About Avalanche

Avalanche (AVAX) is a cryptocurrency launched in 2018. Avalanche has a current supply of 395,891,289.9134107 with 267,283,805.3648784 in circulation. It is currently trading on 222 active market(s) with $1,736,550,754.69 traded over the last 24 hours. More information can be found at https://avax.network/.

VeChain (VET) Current Price:  $0.023 NO CHANGE

About VeChain

VeChain (VET) is a cryptocurrency . VeChain has a current supply of 86,712,634,466 with 64,315,576,989 in circulation. It is currently trading on 176 active market(s) with 823,085,531.34 traded over the last 24 hours. More information can be found at https://www.vechain.org/.

Cardano (ADA) Current Price:  $0.44, DOWN 12.00%

About Cardano

Cardano (ADA) is a cryptocurrency launched in 2017. Users are able to generate ADA through the process of mining. Cardano has a current supply of 34,258,602,060.048 with 33,726,104,791.185 in circulation. It is currently trading on 413 active market(s) with $2,296,524,772.65 traded over the last 24 hours. More information can be found at https://www.cardano.org.

 Ethereum (ETH) Current Price:  $1,187.61, UP 17.94%

About Ethereum

Ethereum (ETH) is a cryptocurrency . Users are able to generate ETH through the process of mining. Ethereum has a current supply of 120,156,685.374. It is currently trading on 5593 active market(s) with $20,337,222,115.20 traded over the last 24 hours. More information can be found at https://www.ethereum.org/.

Bitcoin (BTC) Current Price:  $20,665.78, UP 0.32%

About Bitcoin

Bitcoin (BTC) is a cryptocurrency . Users are able to generate BTC through the process of mining. Bitcoin has a current supply of 18,997,031. It is currently trading on 9282 active market(s) with $35,204,522,704.87 traded over the last 24 hours. More information can be found at https://bitcoin.org/.

Binance Token (BNB) Current Price:  $239.35, UP 15.63%

About BNB

BNB (BNB) is a cryptocurrency . BNB has a current supply of 165,116,760.89. It is currently trading on 770 active market(s) with $2,028,728,366.89 traded over the last 24 hours. More information can be found at https://www.binance.com/.

Litecoin (LTC) Current Price:  $51.07, UP 1.13%

About Litecoin

Litecoin (LTC) is a cryptocurrency . Users are able to generate LTC through the process of mining. Litecoin has a current supply of 84,000,000 with 69,948,806.27791464 in circulation. It is currently trading on 753 active market(s) with $865,460,880.64 traded over the last 24 hours. More information can be found at https://litecoin.org/.

 Overall the suggested Cryptocurrency portfolio is averaging 13.4% ROI, in one month of trading.

 For the remaining o the month, our technical analysis favor the most Binance Token (BNB), which is currently trading at $20,665.78.

 Investment Diversification

Before investing in any financial vehicle, please note diversification is key to any good investment strategy, and this holds true, when you are investing in cryptocurrency. Do not put all your money in Bitcoin, for example, just because that is the name you know or most hear on the street. There are thousands of options, and it is better to spread your investment across several currencies. Hopefully, the following articles in the subject will help you make better investment decision choices, when investing in Cryptocurrencies.

 

 

 Disclosures: The cryptocurrency market is highly volatile, so be prepared for ups and downs. Investors may experience dramatic swings in prices. Investors, who do not have high risk tolerance, cryptocurrency might not be a wise choice of investment. Cryptocurrency is all the rage right now, but investors should remember, it is still in its relative infancy and is considered highly speculative. Investing in something new comes with challenges. Investors, who plan to invest in Cryptocurrency should do their own research, and invest according to their risk tolerance.

 

Tags: , , , , , ,
Menu