Connect with us

Blogs

South Korea To Ease Crypto (BTC, ETH, XRP, LTC) Trading Regulations

Published

on

crypto
READ LATER - DOWNLOAD THIS POST AS PDF

New South Korean Financial Supervisory Service (FSS) Governor, Yoon Suk-heun, has confirmed that the country will be easing the tight hold on crypto trading currently in the country. Mr. Yoon has just been nominated by the South Korean President, Moon Jae-in, to head the FSS government agency.

Upon appointment, Mr. Yoon was quick to inform reporters the following:

“Regarding cryptocurrencies, there are some positive aspects…The FSS will collaborate with the FSC when an inspection of policies and financial institutions has different configurations associated with different scopes. FSC inspects policies, while the FSS examines and supervises financial institutions but with the oversight of the FSC.”

However, Mr. Yoon did not dwell much as to how the FSS will apply certain methodologies to domestic cryptocurrency exchanges such as Upbit, Youbit, Coinlink, Coinnest, Coinplug, Coinone, Korbit and Bithumb.

The South Korean Government has been known for its sudden crackdown of crypto-currency trading and ICOs earlier on in the year that was seen by many crypto-traders, as being the catalyst to the decline in the crypto-markets this year. The total market capitalization of the crypto markets had peaked at around $828 Billion in early January and had shown signs of reaching the much anticipated $1 Trillion mark.

However, later in January, the South Korean regulatory officials started banning some aspects of crypto trading that made the industry so attractive to some traders. The regulators started by clamping down on anonymous trading in the numerous exchanges in a bid to reduce cryptocurrencies from being used to launder money and other crimes. During that early period this year, South Koreans had been the backbone of crypto trading. The South Koreans would then reduce their trading and withdraw all, or part of their funds when regulations started being announced.

Since the crackdowns begun, the markets have declined to current total market cap levels of $333 Billion. This is a decline of 60% in 5 months.

Hopefully, and with the new FSS boss, crypto trading will resume to the levels witnessed in January. Back then, Bitcoin (BTC) was trading at around $18,000 and the crypto-verse was in turn very excited. New traders and investors were signing in by the hundreds per day, leading many exchanges to halt new registrations. Ethereum (ETH) had just peaked at over $1,300 with Ripple (XRP) also reaching new heights of above $3. Bitcoin Cash (BCH) had also stunned the crypto-verse when it was valued at $4,000 immediately after being listed on Coinbase back in January.

Only time will tell if this new development will indeed affect the crypto-markets in a positive manner.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Giuseppe Milo via Flickr

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite