IronFX, Daily Report: New Crypto regulation is introduced in US & Canada

This article is originally referred from IronFX News.

US makes demands and threatens to harden approach on Iran

• The US on Monday demanded Iran dropping its nuclear program and pulling out of the Syrian civil war .
• The US also threatened it will carry out severe economic sanctions if not given the appropriate attention.
• However, Pompeo said if Iran made major changes, the US is willing to ease its aggressive stance towards the country and even support their economic re-establishment with the world.
• Iran responded by stating the US has violated the International nuclear deal .
• Further negative comments on the matter could weaken the USD and could strengthen Oil prices.

U.S. and Canadian regulation introduce Operation Crypto-Sweep

• The North American Securities Administrators Association are introducing investigations aimed at unregistered securities offerings and ICOs
• The operation has launched 70 investigations, with 35 already facing completed or awaiting enforcement actions.
• Regulators are after several alleged schemes, including websites with fake addresses and photos appearing legitimate with the intention of tricking people to register with them.
• Regulators intentions to clean out the cryptocurrency market comes amid increasing attention to virtual currencies by federal regulators.
• The news is good for the future of the crypto market but is bad currently as it repels Investors and creates disbelief .

Today’s other economic highlights

1. Canada : Wholesale Sales (MoM) (Mar) 15:30 (GMT +3) SURVEY +0.6% PRIOR -0.8% mom Could strengthen the CAD
2. API Weekly Crude Oil Stock 23:30 (GMT +3) any reading below the PRIOR +4.854 M could support Oil Prices
3. Speakers : UK BoE Gov Carney Speaks 11:15 (GMT +3)

IronFX Daily Report ‘May 22nd’

Original Source: IronFX News