Events from Wednesday: Singapore warns kryptowalutami; South Korea is not planning any further regulation on crypto currency; the False start Bitcoin on Coinbase Cache GDAX; Creator Litecoina sold all their stocks; Big correction on the stock exchanges.
• Singapore warns kryptowalutami:
Monetary authority of Singapore (MAS), that is, de facto, the country’s Central Bank became the latest financial Advisor, which warns about the risk associated with kryptowalutami. With reference to the recent, according to the Bank’s speculative growth of prices, the MAS issued a statement in which recommends to the society the behavior of exceptional caution in the case of investing in digital currencies such as Bitcoin. The authority also noted that does not regulate crypto currency and that investors should be prepared for the risk of loss of investment. Explaining that kryptowaluty are not legal tender in the country of MAS, said:
Monetary authority of Singapore advised the public to act with caution and to understand the significant risks which are taken at the time of investment in kryptowaluty.
The MASSES, moreover, he noted that in Singapore there is no regulatory body which could ensure that investments in kryptowaluty or to ensure the reliability of intermediaries in crypto currency. The Bank also explain that if the broker uses kryptowaluty for purposes contrary to the law, its activity can be stopped by law enforcement.
The statement is coordinated with early warning of investors from the MASSES, about the risk associated with projktami ICO, published in August.
• South Korea plans further regulation on crypto currencies:
South Korean financial supervision authority Financial Service (FSS) stated that it currently has no plans to regulate digital currencies like Bitcoin, in addition to implementing rules, announced last week. The Supervisory authority bases its decision on the fact that he does not believe digital currencies for the exchange of money, because they are not legal tender in the country. During a press conference on this occasion, the Governor of the FSS, Choi Hong-Sik said that the only role the supervisor must play in the space of digital currencies, warning companies against potential threats:
All we can do is warn people that do not perceive the virtual currency as a real currency, which means that we can’t accelerate the regulation.
He also added that the introduction of any regulations on crypto currency will promote trade, because investors will think that the Supervisory authority accepts cryptocurrency for real currency. The Governor similar to his previous statements. In November 2017. he announced that the FSS would not directly control the operation of the exchanges of digital currencies, because the object of trading is not legal tender in this country.
In addition to the number of already issued laws, national Tax Service (NTS) is currently developing the scope of tips on how to effectively collect taxes from transactions on the stock exchanges on crypto currency. Most likely, the NTS imposed a tax on capital gains for companies and people who trade digital currencies.
• A false start Bitcoin on Coinbase Cache GDAX:
GDAX Coinbase exchange has suspended trading in Bitcoin Cache (BCH) a few hours after its opening. Coinbase added BCH for their platforms, but currently allows customers to send and receive this kryptowaluty. Platform plans in the near future to resume the trade of this resource, depending on its performance for GDAX.
Yesterday on Twitter, the exchange released proposed, explaining that at 17:22 Pacific time it stopped trading BCH-USD for significant rate volatility. The exchange said that the decision to suspend trading was taken in order to ensure a fair and orderly market. Based on data from CoinMarketCap last transaction price for buying Bitcoin Cache was almost $ 9,000. Night Coinbase users have reported that activates the function of the BCH trade on their platform, if only for GDAX will be available sufficient liquidity, considering that it will happen today.
In addition to the official explanation GDAX about the detention of trade, one of the possible causes of sudden interruption can be high user activity, which probably represented a significant burden for the platform. This could be due to the fact that Bitcoin Cash — hard forkiem Bitcoin, and Coinbase users that had Bitcoin during the introduction of the division received the equivalent in a Bitcoin Cache. As soon as Coinbase added BCH, wishing users a happy new capital entered into the trading platform of the exchange, resulting in a potential load, which forced the exchange to halt trading.
The decision on the permission to trade Bitcoin Cache platform Coinbase was made after months of research and monitor results of market kryptowaluty and other events. At the moment BITCOIN is the third-largest digital currency on the level of capitalization.
• Creator Litecoina sold all my stocks:
Creator Litecoina sold all their resources in this kryptowalucie, citing a lack of understanding among the community. In redditowym posts programmer Charlie explained that no longer wants to fend off accusations that his ideas about Litecoina used for his personal purposes and that he believes that the sale of their coinów as the best way to ensure the transparency of their actions. The post says:
Some people even think that shortuje LTC! So I can’t be in a LTC and tweetować about this because I have a very big impact.
Lee also stated that he always refrained from buying and selling Litecoinów near the great tweets, and that his actions can be perceived as aimed at enhancing his personal wealth, more than success Litecoina and kryptowaluty in General. As a result, announced that in recent days sold or gave away all their Litecoiny, except for a few that keeps in order to collectibles. Li added that the number Litecoina, which he sold, were a small percentage of the global volume of transactions of this kryptowaluty.
Currently the fifth largest currency relative to market valuation, Litecoin, was created in 2011 as a hard fork of Bitcoin. Open in Google Or imagined Litecoin as cryptocurrency, which oferowałaby rather agreements. Litecoin has experienced a recent revival because he had proposed an ambitious technical plan, including a decision on Segregated Witness, originally scheduled for Bitcoin.
• Big correction on stock exchanges:
The last 24 hours is a time of great change in the world of crypto currency. Bitcoin is very volatile and will now lose of 7.9%. Ethereum and Litecoin also did not support their prices since yesterday, which is currently below the 2.9% and 9.8%. ), The basis for this Bitcoin Cash and Dash, which are large gains, the point of 68,3% and 30.4%. Market capitalization is today 623,7 billion, a decrease of $ 3.5 billion.
source: cointelegraph.com, coindesk.com, coinmarketcap.com.