Cryptocurrency prices fell on Monday

Investing.com – Cryptocurrency prices fell on Monday, with Ethereum down more than 3%. Reports that China’s central bank is hiring cryptographers and blockchain engineers received some attention.

inched up 0.7% to $6,415.8 by 1:06 AM ET (05:06 GMT) on the Bitifinex exchange, while tumbled 3.6% to $202.8.

slid 1.0% to $0.42129 on the Poloniex exchange, while also fell 0.3% to $54.2 on the Bitifinex exchange.

Citing the People’s Bank of China’s annual hiring list of 2019, South China Morning Post reported on Friday that the central bank is seeking talents to help launch a state-issued digital currency presumably.

The PBOC is looking for a total of four staffs specializing in cryptography, microelectronics, computer science, according to the descriptions.

In other news, Hong Kong’s Securities and Futures Commission (SFC) said it is considering putting more formal cryptocurrency regulations in place as most crypto-exchanges being operated in the city are currently largely unregulated.

“We have to carefully consider the regulatory approach for these platforms because they are new technology and may not qualify as securities,” said outgoing chairman Carlson Tong Ka-shing.

“They do not fit in the custodian, audit or valuation requirements, for instance, normally expected under the Securities and Futures Ordinance,” Tong added.

The outgoing chairman, who is due to hand over the SFC’s reins to Tim Lui Tim-leung on October 19, noted that a total ban on these platform is not the best approach.

“It will not work in today’s internet world when trading can cross national boundaries,” he said.

“Even if we were to ban them, transactions can still be easily conducted via platforms in overseas markets.”

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