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

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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.

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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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