Prices for cryptocurrencies drop by week's end

Posted 18 May, 2018

Cryptocurrencies have decreased during the Asian session at the end of the week.

The major digital coin, bitcoin, changed hands on the Bitfinex at some $8,123.2; the price for Ethereum on this platform was at $681.82.

On the Poloniex, Ripple dropped to some $0.66906. Litecoin was recorded at $132.86.

According to the news reports, Japan's Coincheck considers restart of business after facing malware attack in January that caused a $500 million loss. The spokespersons of the platform stated that they took measures to boost security after the January issue. In April, Coincheck was reportedly acquired by Monex Group. The chief of Monex Group said that he expected that the platform would obtain official license to operate in Japan this June.

Notably, the company considers relocation of the exchange to the USA. The chief of Monex Group comments that Japan seems to be ahead of the rest countries in terms of cryptos, but the situation of security, tokens and institutional investors appears much better in the USA and Europe.

As a result, traders are waiting for the determination of the US regulators whether to approve cryptocurrency as securities, goods or something else. This means that their decision can have a strong impact on the conditions in Japan.

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18 May, 2018 13:48

← Switzerland to explore opportunities for national cryptocurrency

Switzerland is considering its own cryptocurrency – e-franc. For that purpose, the Federal Council has asked to study risks and opportunities for the launch of cryptocurrency. The e-franc is planned to be based on the technology of other currencies like bitcoin but will get state support. The proposal to study the issue was made by Cedric Wermuth, vice president of the Social Democratic Party.

Switzerland to explore opportunities for national cryptocurrency

Next story

18 May, 2018 11:42

JPMorgan considers own crypto strategy →

Oliver Harris, head of the London-based financial division of JPMorgan Chase & Co, will be in charge for the cryptocurrency strategy of the bank as well as chair the Quorum project aimed at company's own block-chain platform. Such decision of JPMorgan attracts attention, especially given that earlier its head Jammy Dimon criticised bitcoin many times. 

JPMorgan considers own crypto strategy
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