Wednesday’s events: Fuss over Polish kryptowaluty Digital PLN; One of the largest banks launches its own exchange; China is strengthening position; Bitconnect disappeared from the map of crypto; the Government of South Korea is forced to accept a civil petition; a Massive sale on the crypto currency continues.
• The hype around the Polish kryptowaluty Digital PLN:
Poland under the patronage of the government, submits its own cryptocurrency, Digital PLN (dPLN) and in order to the payment process this information pleased us in the morning, the pulse of the Business».
The cryptocurrency was supposed to occur under the auspices of the Ministry of Digitization, in the framework of the Polish Accelerator for Blockchain Technology. The staff of experts is currently working on several projects in the field of law, Finance and information technology. Digital PLN’s supposed to be one of them and had to wear the title of national kryptowaluty.
We’ve created a cryptographic currency that reducing the concentration of speculative features. We want to give our economy niepodrabialny money, which does not require expensive infrastructure, and by the way, his transfer is an ultra.
– said Professor Krzysztof Piech, the Chairman of the Polish Accelerator Technology Blockchaine and initiator of the project dPLN.
In response to the article, the Ministry stated that the issues associated with the turnover terms, including kryptowalutami, they are outside the jurisdiction of the Ministry of Digitalization. MAiC stressed that in no way involved in the work on the preparation of projects related to the supply of money in Poland:
Competent authorities to support the development of individual payment documents is the NBP and the KNF. The Ministry of Digitization supports the development of technologies, registers are allocated, but does not lead any projects and studies related krtyptowalutami. Please note that the Ministry of Digitization today withdrew the patronage of the Polish Accelerator for Blockchain Technology.
The future of Digital PLN, I think, in this case, of course, and we can expect many more twists and turns. She cryptocurrency should be allocated to those that will exist risks associated with the dynamics of the course, as must be completely devoid of such a possibility. Paech stressed that the course should be closely connected with the Polish of gold. It is also assumed that one unit will cost 1 gold, always for every 100, buy 100 dPLN and Vice versa. In this issue, however, upublicznionego the article, the final decision should accept the government.
Fast to above, was won by Krzysztof Piech, explaining the situation in a statement written in a web accelerator.tech:
According to the article titled «Russia prepares kryptozłotego», which was published 16.01.2018 Plus Business and the recent media information, we have the refutation of the information. The project dPLN is not a project of the Polish government and never found. A project called Token RUBLES at the beginning of 2017. was announced to implement in the work Flow Blockchain/DLT and Digital Currency, which operates under the Ministry of Digitalization. Was discussed at the meeting of the leaders of the Flows of the government programme «From paper to digital Poland». We want to emphasize that the Minister of Digitization not decide on the implementation of this project. The project dPLN, is its continuation, implemented in the framework of the expert group’s work associated with our Accelerator. It is, however, funded by the National Centre for Research and Development. All the media reports about the support of the Polish government for this project is nadinterpretacją media. As an Accelerator we do not accept these words.
It appears, therefore, that in accordance with the above words, morning information provided to the pulse of the Business» was not well tested and the project was never in any way to be a member of the government.
• One of the largest banks launches its own exchange:
Because trade Bitcoinami becomes the new main market in Japan leading financial company, join to offer services to help maintain their market share. MUFG, the largest Bank in the country, now plans to launch its own stock exchange and cryptocurrency.
Japan’s largest Bank and the fourth largest in the world, announced Financial Services Agency (JFSA) on the decision of the opening of the exchange for crypto currency – ExchangeMitsubishi UFJ Financial Group, Inc. (MTU),
It is known that the Bank is also working on issuing its own kryptowaluty. The plan, as it seems, is that by controlling the exchange where people can trade MUFG, the Bank can suppress the sharp price fluctuations, so it can be stably used for purchasing, invoicing and remittances. The new cryptocurrency will be maintained at about one yen, but is still not at an advanced level.
One of the interesting options is the possibility of its application to pairs trading on the stock exchanges, the similarity of USDT.
The Bank with the introduction on the stock exchange cryptocurrencies, you should probably work on another service for Japanese traders crypto. MUFJ Trust will remain the client’s portfolio in accounts that can connect with other number of stock exchanges. As in the case of segregated accounts, which protects entities that trade in the Forex market, can protect customer funds in the Bank in case of burglary or bankruptcy of a trading company. The service will also monitor your account, before suspicious activity and unexpected transactions.
The service, which will initially be available only for Bitcoins, is scheduled to begin in April 2018. or immediately after the JFSA considers Bitcoin an asset that can be put in a trust Fund. This will be the first confidentiality agreement on crypto currency, in accordance with the statement on patent protection. Using protection Trusts MUFJ will not be free, but customers will feel comfortable knowing that the trust Bank manages the assets.
– said the Chairman Noriyuki Hirosue Bitbank from the stock exchange in Tokyo.
• China is strengthening provisions:
Authorities in China seem unable to keep their citizens from trading kryptowalutami and according to reports, the Chinese government plans to extend sanctions on the national trade of encryption, including OTC trading, foreign websites used for centralized marketing and trade large transactions of peer-to-peer.
It is usually said that the police will block access to local and international platforms providing trade kryptowalutami. China is one of the most critical countries, and their Great Firewall, managed totalitarną the Communist party, filters all Internet traffic.
To avoid the current censorship and network restrictions in China, users going through the application Telegram to trade kryptowalutami, directly negotiated prices. The General-the Governor of the Chinese Central Bank Gongsheng, told Reuters that China will continue to exert pressure on national cryptographic operations through financial stability and added:
Pseudofinansowe innovations that have no connection with the real economy should not be supported.
Yesterday the information appeared to be a harbinger of better changes and common sense in the economic background, however, perhaps at the moment, China is more important than power and control over citizens.
• Bitconnect disappeared from the map of crypto:
Bitconnect has officially closed its platform map and on the exchange of crypto currencies after a warning from the regulatory bodies in Texas and North Carolina. Digital currency Bitconnect Coin, fell today at 87%.
A lot of people in the community of digital currency called Bitconnect running Ponzi. These accusations are based on a tiered system of commands and promises up to 40% interest, plus a daily bonus of 0.25% per day, for all occasions credit. The promise of risk free high profits are often typical of scams – if it sounds too good to be true, it probably is.
At the time of purchase BitConnect Coin becomes oprocentowanym great value, with a 120-percent return for the year. It’s so simple.
– so page Bitconnect described its currency.
Unfortunately for investors, this «oprocentowany assets», it’s almost worthless.
• The South Korean government is forced to take a public petition:
Please wystosowana for the government of South Korea regarding the regulation on crypto currency has reached the minimum number of signatures required to bring the response from the government. The online petition wzywająca the government to reconsider its position regarding the regulation of digital currencies launched on the website of the presidential office in South Korea on 28 December last year.
Yesterday, the petition received more than 212.700 signatures. According to the website of the presidential administration for the reaction of the government is 200 000, in connection with what officials expected response specified in the request within the next 30. days.
The petition asks the government about the rejection of the proposed trading rules, which will destroy the «happy dream», umożliwiony through kryptowaluty. However, the petition continues to support some adjustments kryptowalutowe South Korea, such as the prohibition of anonymous accounts. It is worth noting that the largest exchange kryptowalutowa in South Korea, Bithumb also supports the corresponding set of rules.
Worrying about obsession kryptowalutową in this country, the South Korean government began to consider a number of measures of regulation concerning virtual coins. Some of the proposed regulation prohibiting minors to investors and foreigners to invest in Bitcoin and other currencies in the Korean market, or even completely prohibit trade crypto.
Investing in kryptowaluty became especially popular among South Korean young people, because the economic situation in the country especially hard for young people. According to Quartz, the youth unemployment reached the highest rate – at 12.5% in February 2017, on average, the overall unemployment rate is 4.2%.
In General, the position of the government of South Korea regarding the regulation on crypto currencies, contrary to the last month and especially confusing due to the informal proposal of the Minister of justice on the prohibition of trade, which was rozgłoszony through the major media.
• Massive sale on the crypto currency continues:
Another day we see a very deep correction of the market. Bitcoin for the last day decreased by 17,1%, Ethereum by 23.6%, and the Ripple 27.8%. Almost all kryptowaluty noted failures in the area of 15-30%. Panic continues, while China and South Korea only add fuel to the fire. For market aziatskom, comes much more positive information, and Japan is certainly on the other side of the fence from my neighbors in every aspect opens on kryptowaluty, which is a good prognostykiem next week.
The market has passed in the last 24 hours to 143 billion dollars, and remained on it for «only» 440,4 billion.
source: cointelegraph.com, bitcoinist.com accelerator.tech pulsbiznesu.com, coinmarketcap.com.