A crackdown on crypto exchanges in South Korea caused a crypto correction. With that said, there is no ban in the short term and it is likely domestic exchanges will be regulated and not shut down in the long term.
CryptoCurrency News from around the World and beyond. This section focuses on what is happening with cryptocurrency now. So that is things like countries embracing or rejecting cryptos, price milestones for Bitcoin and Alts, new ICOs, upcoming forks, etc.
CoinMarketCap dropped three South Korean exchanges from its site data on Jan 7th. This brought the price of all coins down on their platform and it caused a sell-off.
Merrill Lynch has banned clients from trading the Bitcoin Investment Trust (GBTC) and Bitcoin futures due to concerns about these Bitcoin related investments.
ETH broke $1k on some exchanges, in part due to news about an update called “Casper” which will move ETH from Proof of Work (PoW) to Proof of Stake (PoS).
Cryptocurrency is a big deal in South Korea, they are a major force in the market. For this and other reasons South Korea has enacted some sensible regulations on crypto trading.
Bittrex hasn’t been accepting new users since December 15, 2017. They are currently upgrading their systems to meet the increased demand for crypto.
Ripple surpassed Ether to become the #2 cryptocurrency by market cap in the last week of December reaching a market cap of more than $90 billion.
To summarize the tax rules for cryptocurrency in the United States, cryptocurrency is an investment property and you owe taxes when you sell, trade, or use it.
Zclassic (ZCL) plans to fork Bitcoin (BTC) to create Bitcoin Private (BTCP). Holders of both Zclassic and Bitcoin will qualify for the Bitcoin Private fork. The snapshot date is February 28th, 2018.
John McAfee’s Twitter was hacked (somewhat ironically). The result was that some fake “coin of the day” Tweets that were quickly deleted.