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Uzbekistan Blocks Foreign Crypto Exchanges Including Binance and FTX

Uzbekistan has restricted access to several foreign crypto exchanges, including Binance and FTX. The country wants exchanges to obtain a license before operating.

The post Uzbekistan Blocks Foreign Crypto Exchanges Including Binance and FTX appeared first on BeInCrypto.

Uzbekistan has restricted access to several foreign crypto exchanges, including Binance and FTX. The country wants crypto companies to obtain a license before operating.

Uzbekistan has restricted access to crypto exchanges that have not been approved, according to a statement. The exchanges include Binance and FTX, and the decree, on the whole, is a bid to ensure that companies in the industry play by the government’s rules.

The country is currently working on a legal framework for the crypto market, and one of the focuses is to ensure that activity is carried out “in the manner prescribed by legislative acts.” The statement reads,

“…it was identified that to date there is an intensification of activities of various electronic platforms that provide services to citizens of the Republic of Uzbekistan on trade and (or) exchange of crypto-assets without obtaining the required license for the activities of service providers on the territory of the country.”

It also states that unlicensed exchanges have no legal responsibility for crypto transactions, cannot guarantee the legitimacy of those transactions, and cannot ensure “the proper storage and protection of confidentiality of personal data of citizens.”

The country’s officials have asked citizens to be careful about using these platforms. The concerns are that their personal data could be leaked and could be exploited by bad actors. Besides Binance and FTX, Huobi and Bybit have also been blocked.

Other activities have also been affected by the decree. Crypto mining pools, exchanges, custodians, and “crypto shops” are all required to have a license in order to operate in the country. However, local exchange UZNEX continues to be accessible.

This is an unexpected turn for Uzbekistan, which has largely been friendly towards the crypto market. The country legalized crypto mining earlier this year, though it only allowed solar-powered crypto mining.

Countries the world over are cracking down on the centralized parts of the crypto market. Numerous crypto exchanges have become the target of authorities, as the latter seeks to impose some control over the burgeoning asset class.

From Europe to Asia, exchanges are now being compelled to comply with regulations or governmental requests. For example, many crypto exchanges have scrambled to get matters in order following the European Union discussions on crypto regulation.

The U.S. is also keeping a tab on crypto exchanges. One staff member from Senator Lummis’ office said that all crypto exchanges are being investigated by the SEC.

The post Uzbekistan Blocks Foreign Crypto Exchanges Including Binance and FTX appeared first on BeInCrypto.

Source: Markets – BeInCrypto

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Veteran Investor Mark Mobius Expects Bitcoin Price to Fall to $10,000

Veteran Investor Mark Mobius Expects Bitcoin Price to Fall to ,000Veteran investor Mark Mobius, the founder of Mobius Capital, expects the price of bitcoin to fall to $10,000. Nonetheless, he said: “Crypto is here to stay as there are several investors who still have faith in it.” Mark Mobius’ Bitcoin Price Prediction The founder of Mobius Capital Partners, Mark Mobius, shared his latest bitcoin price […]

Veteran Investor Mark Mobius Expects Bitcoin Price to Fall to ,000

Veteran investor Mark Mobius, the founder of Mobius Capital, expects the price of bitcoin to fall to $10,000. Nonetheless, he said: “Crypto is here to stay as there are several investors who still have faith in it.”

Mark Mobius’ Bitcoin Price Prediction

The founder of Mobius Capital Partners, Mark Mobius, shared his latest bitcoin price prediction in an interview with Bloomberg Monday.

Prior to starting his own company, Mobius spent more than three decades at Franklin Templeton Investments. He previously served as the executive chairman of Templeton Emerging Markets Group where he managed more than $50 billion in emerging markets portfolios.

The veteran investor said that his next target for bitcoin is $10,000, noting that cryptocurrencies are “too dangerous” for him to invest his own cash or his clients’ money in.

Despite the collapse of crypto exchange FTX and subsequent market sell-offs, Mobius emphasized:

Crypto is here to stay as there are several investors who still have faith in it … It’s amazing how bitcoin prices have held up.

This was not the first time that the former Franklin Templeton executive mentioned $10,000 as his target for bitcoin’s price. In May, he advised investors against buying the dip, cautioning that the market still had some way to fall. In November last year, he said people should not look at cryptocurrencies as a means to invest but as “a means to speculate and have fun.”

Mobius is not alone in expecting the price of bitcoin to drop to $10,000. Doubleline Capital CEO Jeffrey Gundlach, aka the bond king, said in June: “I wouldn’t be surprised at all if it [bitcoin] went to $10,000.” Gold bug and economist Peter Schiff said this month that bitcoin still has a long way to fall. He valued BTC at $10K. Moreover, a recent Bloomberg MLIV Pulse survey showed that the majority of nearly 1,000 investors who responded expect bitcoin’s price to drop to $10K.

Meanwhile, some people are still very optimistic about the price of BTC. Venture capitalist Tim Draper, for example, said earlier this month that he expects bitcoin’s price to hit $250K by mid-2023.

Do you think the price of bitcoin will drop to $10K? Let us know in the comments section below.

Source: Markets and Prices Archives – Bitcoin News

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