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Crypto Mixed; France Suggests Ban on Privacy Coins

Investing.com – With regulations on cryptocurrencies being formulated and suggested around the world, prices of major digital coins were mixed on Friday morning in Asia.

Bitcoin slid 0.07% to 3,876.9 by 10:24 PM ET (03:24 AM GMT). The coin still lingered at one-week highs after surviving a mid-week dive to around $3,700.

Ethereum also went down 13.64% to $135.97, and XRP traded 1.72% lower to $0.31167 over the last 24 hours.

Litecoin was the only gainer, increasing 0.09% to 55.92. Going full steam, the coin has surged 22.14% over the past week.

The crypto market cap stayed flat at around $133 billion. It added $7 billion so far from the beginning of this week.

The most notable news in the industry this morning was France’s announcement that it might push forward a ban on anonymous cryptocurrencies.

Eric Woerth, the head of the Finance Committee of France’s National Assembly, proposed a ban on these private coins.

“It would also have been appropriate to propose a ban on the dissemination and trade in [cryptocurrencies built] to ensure complete anonymity by preventing any identification procedure by design,” said Woerth.

He cited private coins such as Monero, PIVX, DeepOnion, Zcash, saying the purpose of creating these coins is to bypass any possibility of identifying the holders. He said “regulation has not gone that far.”

Japanese regulators made a similar move last April, when they suggested a ban on trading anonymity-oriented altcoins Dash and Monero.

France is not considered crypto-friendly, at least to date. Last year, French parliament blocked amendments to ease crypto-related taxation, and its central bank would not support tobacco kiosks’ sale of Bitcoin.

In other news, Israel’s securities regulators published final recommendations on crypto regulation that suggested disclosure requirements for crypto offerings that qualify as securities. The regulators said that such offerings should be controlled like crowdfunding.

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