Forex, or the foreign exchange market, is a market for trading currencies. The forex market is the largest market in terms of trading volume and determines the foreign exchange rate. Forex trading includes the buying, selling and exchanging of currencies for the currently determined prices, which are provided by forex brokers — the intermediaries that allow for the purchases of currency with additional transaction fees. Bitcoin forex trading is a new opportunity provided by some forex brokers that is gaining popularity among high-risk traders, due to the high volatility that provides the chance to gain a much larger profit than any fiat currency can provide. It is interesting to point out that — as Bitcoin has an uncertain legal status and is sometimes considered to be a good or asset and not a currency — forex trading with Bitcoin is in an unstable position. However, the inclusion of Bitcoin in the current forex market is a big step for the cryptocurrency industry.
The CFTC has filed charges against two parties on Ponzi allegations involving crypto, forex, and over $500,000 of defrauded funds.
CFTC Charges Colorado Resident With Fraud in Crypto Ponzi Scheme
Fresh but somewhat vague statements from the Chinese State Administration of Foreign Exchange reveal a new push to clarify the country’s crypto approach.
Forex Reforms Will ‘Deal With Cryptocurrency,’ Says Chinese Government
Cyprus’ SEC recently flagged three investment platforms that look almost identical and falsely asserted ties to licensed firm BDSwiss.
Cyprus SEC Flags 3 Trading Platforms That Look Suspiciously Similar
Chinese regulator State Administration of Foreign Exchange expanded its blockchain cross-border financing pilot program.
Chinese Forex Regulator SAFE Expands Blockchain Cross-Border Pilot
China’s foreign exchange regulator has warned that emerging markets need to muscle in on cryptocurrency-enabled illegal cross-border capital flows.
China: Forex Regulator Warns Against Illegal Crypto Cross-Border Flows
China is reportedly looking into the application of blockchain to cross-border financing, with particular attention devoted to risk management applications.
China Studying Blockchain and AI for Cross-Border Financing
An island bordering Russia and China may become a large financial center for crypto exchanges and forex markets.
Russia May Build Offshore Destination for Cryptocurrencies, Exchanges and Forex