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JP Morgan accused of charging fees on crypto purchases

Summary:

  • JP Morgan has been sued over fees for cryptocurrency purchases it was charging earlier this year
  • 22 European countries are going to work together in order to exchange information on the blockchain technology
  • Digital currencies play down geopolitical risks suggesting they may have become invulnerable to them

Cryptocurrencies have been remarkably calm despite an array of risks coming from the Middle East as well as the ongoing trade row between the US and China. It could mean that they may have become resistant to such kind of risks. On the other hand, they stopped responding to positive reports as well being driven by nothing. The best example is the latest story concerning JP Morgan which has been accused of charging surprise fees when it stopped letting customers buy cryptocurrency with credit cards in late January and started treating the purchases as a cash advances. The bank’s spokeswoman declined to comment on the topic but said that JPM stopped processing credit card purchases of virtual currencies on 3 February due to the credit risk involved. She also assured that JPM’s clients may buy cryptocurrencies from their checking accounts without incurring additional charges. Let us remind that several banks based in the US as well as the UK have already banned the use of credit cards to purchase digital coins.

link do file download linkBitcoin fell in early trading and there is the likelihood to see the cryptocurrency moving toward its closest support in form of a lower limit of a triangle pattern. If it happens it could constitute a buying opportunity given the bounced we saw in the past. Source: xStation5

22 European countries are going to work together in order to exchange information on the blockchain technology

As much as 22 European countries decided to form a new blockchain partnership aimed at exchanging information on the still new technology. The group includes the UK, France, Germany, Norway, Spain and the Netherlands. What could be interesting the European Commission stands is the forefront of this project highlighting how this issue could be important in the eyes of the European institution. The prime goal of the collaboration is to avoid so-called "fragmented approaches" to the technology by sharing regulatory expertise among member states and creating ways to promote blockchain apps across the EU digital single market. According to Mariya Gabriel, European Commissioner for Digital Economy and Society, "Blockchain is a great opportunity for Europe and member states to rethink their information systems, to promote user trust and the protection of personal data, to help create new business opportunities and to establish new areas of leadership, benefiting citizens, public services and companies".

link do file download linkAfter a failed try to break above a resistance placed at $0.55 Ripple could move back to a lower bound of the ongoing range trading. Until the price breaks out of a consolidation larger moves seem to be contained. Source: xStation5

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