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FxWirePro- Major Crypto levels and bias summary 
FxWirePro- Major Crypto levels and bias summary 
The Financial Commission, a Hong Kong based body, has announced the creation of a new supervisory guidelines for cryptocurrency liquidity providers. The new regulation will include monitoring of financial needs, reporting and record keeping and approved members will have to follow minimum capital level requirements.
It comes at a time when several bitcoin ECNs have been launched in recent months. Even though several companies planned to launch ECNs as early as 2013, it was more difficult than expected due to price differential between Bitcoin exchanges, along with delays in transferring funds and bitcoins between exchanges. However, with time the industry grew and professional market makers to digital currencies arrived, which dragged down the pricing differential between bitcoin exchanges.
The new regulatory membership for the digital currencies, the commission said, is in line with success they have had in forex, CFD and binary options industries.
