With poniedziałkowych of events: the continuation of regulation in South Korea; Singapore has so far refrained from regulating on crypto currency; Several important aspects, which will require accurate findings; the Current position and size of Bitcoin; an Easy jump of the prices on the exchanges.
• Continuation of regulation in South Korea:
Trading rules kryptowalutowymi in South Korea was announced on Sunday, 14. January, after the media had disagreements on the proposed ban on the sale of kryptowalutami through the Minister of justice last week.
Reports in the local press Agency Yonhap talking about demands from the Korean traders use real names for accounts kryptowalutowych. Potential regulation was reported earlier, in January, will come into force before the end of this month. Yonhap reports that the fine will be imposed on those who fail to comply with the new rules, although the amount of the fine is not yet established. Yonhap quoted by today’s government statement, saying:
The proposed closure of stock exchanges, which recently told the Minister of justice, is one of the means proposed by the Ministry of justice to limit speculation. The decision on the departure of the national will take in the future, after sufficient consultation and coordination of thoughts.
Monday ads suggests that closure is unlikely in the near future.
The rugged landscape of regulation in South Korea has led to the fact that every day there is fragmented information on how cryptocurrency will ultimately be subject to the jurisdiction of Seoul. In latest news Monday, 15. February released the official statement of the office for the Coordination of Government Policy, stating that the ban on the use of crypto currency is not working.
11. January, the Minister of justice Park sang-Ki, he proposed to prohibit the sale of encryption at the press conference. Further interpretation of his comments in the media caused a stir on social networks that has been repeatedly reviewed through local correspondents and traders on Twitter. However, the uncertainty and doubt caused by the comments of the Minister and misrepresentation reporting on them, obviously, led to the sale on the crypto currency on the same day.
Public sentiment in the territory offer a real consensus that trade was open and accessible, and zeszłotygodniowa dismissed the petition ban the trade kryptowalutami, you receive more than 150 000 signatures. If the petition reaches 200,000 signatures to 27. February, this will make the government accountable.
• Singapore has so far refrained from regulating on crypto currency:
Ravi Menon, managing Director of the Monetary of Singapore (MAS), expects the market for crypto currency will recover health after a possible defeat. Menon apparently did not specify when it expects that the disaster will occur, or what could be causing the problem. Still, the Central Bank of Singapore has adopted the moderately suspicious attitude towards crypto currency, citing the need for «vigilance on money laundering and other potential threats». Despite this, MAS does not see the need to regulate the industry.
I see no reason to adjust kryptowaluty.
said Menon in an interview with Bloomberg in October 2017.
Although MASS has no short-term plans for regulating digital currencies in December 2017. has issued a warning about the «significant risk» associated with OU care about kryptowalutami and recommended that the society «action with extreme caution».
• A few important aspects, which will require accurate insights:
With the development of new markets that have sprung up in recent months, digital assets such as Bitcoin, Ethereum, Litecoin and Ripple have become widely used names. However, regulation of cryptographic does not necessarily mean prevention. It is possible to approach it correctly. In recent weeks, there is a lot of information about the action on crypto-regulation occurs worldwide, especially in Asia. About the news, and fearing the complete suppression of trade in South Korea, which appeared last week, causing a massive sale and the weakness of the markets.
Regulation of the stock market. This should be the first step towards legitimizing the whole industry, as most of us should use them to buy and sell crypto currency. A report in Wired magazine notes that British banks rejected the transactions of, customers who want to redirect their funds on the stock exchange for the crypto currency. In order to use Coinbase in this country, it’s easier to do it through a Bank in Estonia. Banks and governments are afraid of money laundering and tax evasion, so the only way to prevent this would be a settlement, and promote trade kryptowalutami, not repulsion.
Taxation is another key issue because kryptowaluty sold, and the profit derived from the turnover. When possible, the potential profit, the government will want their piece of share. In the U.S. operations kryptowalutowe subject to taxation under the new law to be adopted this year. A small consumption tax can be a means of preventing a total ban on trade kryptowalutami, which could be unfavorable.
Currently, ICO is like the wild West, all the distortions and open to abuse and fraud market. Despite the fact that most of them are real projects, to support innovation through the use of Blockchain technology is the challenge for the investor is the «sorting the digital wheat» and the skilful distinction of separate signs. A bright set of norms, rules and more transparency from the ICO, will allow for the legitymizację this part of the industry and bring more confidence in the cloud and the crowded environment.
These are just some of the things that governments and banks should strive to implement, instead of having to use the «iron fist» to suppress innovation and management technology and their citizens.
• Current position and size of the Bitcoin:
13. February was an important day for Bitcoin when their production reached 16.8 million Bitcoins, which is 80% of the whole Bank. This means that only 4.2 million Bitcoins, that is, 20 percent is left for production until the whole network reaches 21 million units.
Bitcoin is 21 million combinations embedded in the Protocol through Satoshiego Nakamoto was first mentioned in the white paper in 2008 as a way to introduce digital scarcity to kryptowaluty. The deficit probably creates demand, which in turn makes that coins are worth more. When I get 21 million Bitcoins, get them to be even more difficult, which may also increase their cost.
The miners currently have a 12.5 BTC reward for each block that dig, but the Nakamoto Protocol also requires that the award was a mining is halved every 210,000 blocks, or about four years. The next halving will occur in the next two years, around the beginning of June 2020, depending on hashrate, resulting in awards to 6.25 BTC per mined block.
Not every digital currency can be smiling, like Bitcoin. Some kryptowaluty created with uwolnioną once, and in this case the entire stock is stored or is in use, and has no way of «extraction» or the minting of new coins. Examples of digital currency are: Ripple, IOTA, NEM, NEO, Qtum, Omisego, Lisk, Stratis, Waves and the EOS. Skeptics have put forward the hypothesis that it is theoretically possible to increase the 21 million Bitcoin demand through attack 51% or Sybil, but so far none of these manipulations had failed to prove the case with Bitcoin.
Altcoin will be called krypton, which is based on Ethereum, received a 51% attack in August 2016, but since then there have been no other similar attacks. BTC still bounces after declining 22. Dec figuring out the average speed at the level of $ 14200 and an increase of 4.75% for 24. hours.
• Slight jump in prices on the stock exchanges:
In the last 24. watch on the market crypto currency has increased in value by 21.2 billion dollars, and its total cost is 713,2 billion. In the table on Coinmarketcap, most pairs there is an increase, in contrast to yesterday’s lows. However, the NEO remains the exception and continues the upward trend, increasing its value from 19.6% in the last days. A good result also showed Stratis noticing a growth of 16%, Bitcoin, Gold or 13.1%, Qtum 10.2% and Lisk of 9.2%. The total turnover today was at the level of 39.7 billion dollars.
source: cointelegraph.com, bitcoinist. com, coinmarketcap.com.