Philippines Bans Trading of Privacy Coins
- Regulatory Tightening: The Central Bank of the Philippines has banned exchanges from listing privacy coins like Monero (XMR) and Zcash (ZEC) due to high money laundering risks, thereby tightening regulations and potentially impacting market confidence.
- New Guidelines Implementation: The new rules mandate all licensed cryptocurrency exchanges to establish a robust due diligence and certification process before listing new cryptocurrencies, which may increase operational costs for exchanges while enhancing consumer protection.
- Ongoing Monitoring Obligations: Exchanges are required to continuously monitor listed assets and consider suspending trading or delisting if certain thresholds are met, including loss of liquidity and issuer bankruptcy, thereby increasing compliance pressure on exchanges.
- Future Outlook: With the SEC's 2025 mandate for crypto asset service providers to register and meet capital requirements, the Philippine crypto market will face a stricter regulatory environment, potentially stifling innovation and affecting investor confidence.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 4 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0228 | 0.0293 | 0.035 | 0.0415 | 0.0472 | 0.0537 | 0.0594 |
| Fibonacci | 0.0293 | 0.034 | 0.0368 | 0.0415 | 0.0462 | 0.049 | 0.0537 |
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