Prices for cryptocurrencies generally stronger with Seoul considering ICO ban revision

Posted 30 May, 2018

Prices for cryptocurrencies have gone up in the middle of the week, with Seoul proposing cancelling ICO ban in the country.

On the Bitfinex, the leading digital coin, bitcoin, changed hands at $7,503; Ethereum on this platform softened in price, reaching some $564. Ripple was on the rise at about 0.60876. Litecoin prices were at 120.53 after rising to some $121 earlier.

Cryptocurrencies showed mixed dynamics this week. Prices generally weakened in particular on the moves of the US regulator. For reference, US Department of Justice launched an investigation concerning possible price manipulation by traders in the market.

Meantime, South Korean regulator proposed to revise the ban on local ICO. As a result, it is possible that ICO can again be allowed in the country. In addition, some actions and preparations are taken to legalize ICO and put it under regulation.

Notably, some market experts believe that bitcoin can be a new means for measurement of the market fear. In particular, the currency can reportedly be like VIX  index and help to be ahead of credit risk in banking.

The available data showed that the crypto market has improved lately with the capitalization recovering from $323 billion to some $331 billion for now.
 

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31 May, 2018 10:47

← Polands Bitbay announces relocation to Malta

Bitbay, the major crypto trading platform in Poland, has decided to relocate its business to Malta after Polish banks refused to cooperate with the exchange. Technically, there will be no changes – its domain and brand name will remain the same (bitbay.net, Bitbay). As the company said, they have chosen Malta seeing a favourable environment for further business development...

Polands Bitbay announces relocation to Malta

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30 May, 2018 15:09

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