The Regulatory Tug-of-War

Facebook’s ambitious digital currency, Libra, faces significant hurdles from lawmakers and central banks globally. In a recent statement, French Finance Minister Bruno Le Maire suggested Europe might need a homegrown digital currency to challenge Libra. Meanwhile, the German government, represented by Thomas Heilmann, has pledged not to allow any ‘market-relevant private stablecoins’ to gain a foothold. This regulatory heat continues to simmer, with Libra Association’s Bertrand Perez promising compliance and targeting a launch in late 2020, insisting that Libra won’t inject new money into the economy.

Fighting Financial Crime in Crypto

The stakes are high. U.S. Treasury Undersecretary Sigal Mandelker has drawn attention to the fact that terrorist organizations are adapting to use cryptocurrencies as a funding source. She underscored the pressing need for a framework that prevents illicit activities in the digital currency realm. This adds yet another layer to the ongoing conversations about the delicate balance between innovation and regulation.

Market Movers: ATOM and EOS

Now for the good stuff—what’s happening in the markets? Let’s take a closer look at some of the top performers this week:

• Cosmos (ATOM) has soared by more than 34% in the past week, bouncing back into the top 20 by market cap. Following a steep drop, bulls quickly seized the opportunity to buy, pushing the price towards a resistance level.
• EOS isn’t sitting idle either. Despite some drama involving a hack worth over $110,000, the leading decentralized platform’s upcoming major upgrade keeps sentiment buoyant. A breakthrough above specific price points could signal a new bullish trend.

Ethereum’s Recent Wins

In the land of Ethereum (ETH), things are looking up. The Spanish bank Banco Santander recently issued a groundbreaking $20 million bond on the Ethereum blockchain, demonstrating the technology’s growing acceptance in mainstream finance. The charts suggest that Ether is attempting a comeback after dipping below $163 earlier this month—watch for potential turning points just above the $235 mark.

DASH on the Rise

DASH enthusiasts can rejoice, as Coinbase Pro is adding support for the cryptocurrency next week. Following this news, DASH has joined the ranks of the top five performers. The pairing risks encountering resistance at previous support levels, so keep an eye on whether it can break through the $95 mark to hit new highs.

Tron’s Potential Breakout

Lastly, there’s Tron (TRX), which is anticipated to release upgrades soon. The network aims to enhance the performance of decentralized applications. However, the price remains teetering near yearly lows, faced with tough resistance. A sustained recovery could see TRX moving up, but that requires overcoming several psychological and resistance levels.

In conclusion, the world of cryptocurrencies remains a wild ride, bountiful with opportunities and challenges. Always do your homework before diving into these investments!