Bitcoin and other cryptocurrencies dropped in Asia on February 21 even despite the cue about improved conditions for cryptocurrency trading in South Korea.
The key currency in terms of market capitalization – bitcoin – changed hands at $10,714.00 on the Bitfinex today (6.26% down d-o-d), followed by Ethereum priced at $872.32 (7.77% down).
The top-3 Ripple coin collapsed on the Poloniex to $0.99000 (10.55%) over the period under review.
Litecoin that is gaining grounds in the market weakened to some $218.79 (11.22% down).
According to the reports, the president of South Korea’s Finance Supervisory Service (FSS) stated that the regulator planned to soften policy towards cryptocurrency sector. As a result, this message turned out to be in the spotlight today.
"The whole world is now framing the outline (for cryptocurrency) and therefore (the government) should rather work more on normalization than increasing regulation," he said.
This message is not a price booster now, so investors consider it as an optimistic sign especially given the January statement by the authorities about intentions to ban local crypto trading at all, which knock down prices.
Noteworthy, it has been reported today that the representative of ING financial company confirmed that the Bitfinex exchange opened a bank account with ING.