ESMA Makes Call for Evidence on Virtual Currency Investments
- The European Securities and Markets Authority (ESMA) has issued a Call for Evidence on virtual currency as it applies to investments.
The European Securities and Markets Authority (ESMA) has issued a Call for Evidence in the area of virtual currency as it applies to investments.
ESMA is an EU financial regulatory institution whose stated mission is to protect investors and enhance the functioning of the financial markets through the creation of a single rule book.
ESMA says it has been studying virtual currencies for six months in order to understand developments in the market and how they can impact investors, with the eventual goal of supporting the functioning of the EU single market.
The Call for Evidence was introduced through a 19-page paper summarizing its understanding in three specific areas of interest:
1. Investment products such as collective investment schemes, derivatives or contracts for difference (CFD's) where virtual currency is the underlying asset.
2. Assets/securities that are traded using virtual currency ledgers.
3. The use of distributed ledger technology for the transfer of non-virtual currency-related securities.
The paper requests of its readers to submit additional information that will help ESMA in its undertaking. Submissions are being accepted through its website until July 21, 2015.
The paper touches upon a variety of issues in the above areas. It recognizes the advantages of such systems, such as savings in time and cost, while also acknowledging risks such as irreversibility, Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and non-enforceability.
Also of note is its attention to the NXT cryptocurrency, which it discusses on multiple occasions vis-à-vis differences with Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and the assets traded on it.
The European Securities and Markets Authority (ESMA) has issued a Call for Evidence in the area of virtual currency as it applies to investments.
ESMA is an EU financial regulatory institution whose stated mission is to protect investors and enhance the functioning of the financial markets through the creation of a single rule book.
ESMA says it has been studying virtual currencies for six months in order to understand developments in the market and how they can impact investors, with the eventual goal of supporting the functioning of the EU single market.
The Call for Evidence was introduced through a 19-page paper summarizing its understanding in three specific areas of interest:
1. Investment products such as collective investment schemes, derivatives or contracts for difference (CFD's) where virtual currency is the underlying asset.
2. Assets/securities that are traded using virtual currency ledgers.
3. The use of distributed ledger technology for the transfer of non-virtual currency-related securities.
The paper requests of its readers to submit additional information that will help ESMA in its undertaking. Submissions are being accepted through its website until July 21, 2015.
The paper touches upon a variety of issues in the above areas. It recognizes the advantages of such systems, such as savings in time and cost, while also acknowledging risks such as irreversibility, Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and non-enforceability.
Also of note is its attention to the NXT cryptocurrency, which it discusses on multiple occasions vis-à-vis differences with Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and the assets traded on it.