First Nation Accepting Bitcoin in Exchange for Citizenship 

 The Bank of Russia wants to close the websites on the trade in crypto currency

 Nepal Police Arrest Seven Bitcoin Traders Despite Lack of Regulation

 The Bitcoin Price Rocket Blasts Off Again 

 Vanuatu Becomes First Nation to Accept Bitcoin in Exchange for Citizenship

 

 The South Pacific island nation of Vanuatu has become host to the world’s first government to accept bitcoin in exchange for citizenship. Vanuatu’s citizenship program costs $200,000 USD, meaning that at current prices the residency program costs less than 41.5 bitcoins. 

The chairman of the Vanuatu Information Centre (VIC), Geoffrey Bond, has stated that “the Government of Vanuatu has explicitly expressed a desire to be at the forefront of adopting new technologies, officially encouraging the VIC to receive payments in bitcoin. Bond states that “in addition to the normal due diligence probity checks that are required to obtain Vanuatu Citizenship, all bitcoin transactions will be run through our partner’s Australian Exchange and meet with the normal compliance requirements imposed by the Australian Financial Regulator.” 

The Bank of Russia wants to close the websites on the trade in crypto currency

 The Russian Central Bank believes that it is necessary to limit the work of websites where you can buy crypto currency. Such a statement was made by Sergey Shvetsov, the first deputy chairman of the Central Bank 

 The Russian Central Bank believes that it is necessary to limit the work of websites where you can buy crypto currency. According to Kommersant.ru, this statement was made by Sergei Shvetsov, the first deputy chairman of the Central Bank, at the forum “The Russian market for derivative financial instruments”. 

 He said that the Central Bank considers all derivatives for the crypto currency as a negative phenomenon in the Russian market, does not intend to support them, and will take measures on the regulated part of the Russian market to limit the opportunities for operations with such instruments. At the same time, Sergey Shvetsov noted that the Central Bank together with the Prosecutor General’s Office is working to close external websites that give Russian citizens the opportunity to buy such assets. 

 According to the first deputy chairman of the Central Bank, crypto-currency instruments carry unreasonably high risks for Russian business and the population. As reported by the TASS agency, Sergey Shvetsov emphasized that bitcoin from the accounting unit is gradually being transformed into an asset acquired for obtaining high income in the short term, which is a sign of the financial pyramid. 

 Previously, the agency Betafinance reported that in Russia there will be no legalization of crypto currency.

 

Nepal Police Arrest Seven Bitcoin Traders Despite Lack of Regulation

The Nepalese police have arrested at least seven individuals for allegedly being involved in virtual currency trading activities in the country as of early October 2017. The arrests were made despite the absence of regulations covering the trading of cryptocurrencies in the country.
 

 Based on local press reports, the suspected traders were arrested by members of the Central Investigation Bureau (CIB) in Kathmandu and Chitwan. Among those arrested were Prashant Pratap Shah of Kathmandu, Bida Dhakal of Nuwakot, and Mingmar Tamang of Sindhupalchok. 

 According to the CIB’s DSP Jeevan Kumar Shrestha, this is the first time that cryptocurrency exchange operators were arrested in the country. 

 “They have been kept at the police custody. The traded amount will be discovered after further investigation.” 

 The Bitcoin Price Rocket Blasts Off Again 

During the early morning hours of October 9, the price of bitcoin gradually lifted to the $4,650 range. However, the price train didn’t stop there as bitcoin’s value kept rising, reaching a high of $4,865 across global exchanges. Bitcoin trade volume has increased significantly since our last report reaching close to $2B in 24-hour trade volume. The decentralized currency’s price has wholly shaken off the 30 percent dip that took place during the first week of September. The top five exchanges pushing significant volume this week include Bitfinex, Bithumb, Bitflyer, Hitbtc, and the GDAX trading platform. Presently, these five exchanges are currently capturing roughly $544M in bitcoin trade volume. 

Technical Analysis

 At the time of writing one bitcoin holds an average of $4,790 per BTC across multiple exchanges throughout the world. Currently, technical indicators show the 100 Simple Moving Average (SMA) has risen well above the long-term 200 SMA indicating the market is indeed very bullish. Order books show a massive sell wall at the $5K zone, and there may be some sell-off if the price reaches this height. If the price can manage to surpass the $5K territory, then we may see some more smooth sailing upwards. Stochastic has finally turned north alongside the Relative Strength Indicator (RSI) confirming buyers have the reigns. Looking at the Fibonacci extension (Golden Ratio) at 61.8 percent shows the climb could reach an all-time high of $5,200 and higher. If the price gets choppy along the way and settles back, prices could easily fall back to the $4,400 range. 

Soruces:

https://cointelegraph.com/news/nepalese-police-arrest-bitcoin-traders-despite-lack-of-cryptocurrency-regulation

https://news.bitcoin.com/markets-update-the-bitcoin-price-rocket-blasts-off-again/

http://cryptoconsulting.info/2017/news/the-bank-of-russia-wants-to-close-the-websites-on-the-trade-in-crypto-currency/

https://news.bitcoin.com/vanuatu-becomes-first-nation-to-accept-bitcoin-as-citizenship-payment/