Thursday, December 28, 2017

New coup of tobacco on the bitcoin :


New bamboo shot on the bitcoin! The queen of crypto-currencies plummets more than 14% to 14,080 dollars on the Bitfinex platform after the South Korean authorities have announced they want to take additional measures to regulate virtual currency exchanges and put an end to speculation that has become much too important ...

The volatility on crypto-currencies is indeed still strong as evidenced by the recent evolution of bitcoin. After reaching the $ 20,000 mark, it fell sharply below $ 11,000 before rebounding in the last few days.


Korea wants to better regulate the market
"The government has repeatedly said that virtual currencies can not play the role of real currencies and that their excessive volatility can result in considerable losses," the government said.

Among the measures envisaged are the prohibition to open an account anonymously and the possibility of authorizing the supervisory bodies to close, if necessary, certain exchange platforms, as advocated by the Ministry of Justice.

South Korea currently prohibits all financial institutions from trading with cryptocurrencies, but is one of the world's largest markets for bitcoins and is home to the world's largest currency trading platform. active in the world, Bithumb.

Authorities take the issue seriously
"Regulators are increasingly concerned that this is primarily and primarily a phenomenon of individuals," says Stephen Innes, Oanda's head of Asia Pacific trading, Bloomberg.

"Regulators, not only in Asia, but around the world, will begin to address this issue because I do not think they really understood what a real crypto drop would mean for the economy."

What future?
Anyway on the side of the regulators, the debates remain open concerning bitcoin and its peers and its future always appears as vague. "Nobody knows the ultimate value of this underlying asset," Edward Stringham, president of the American Institute for Economic Research, told Bloomberg TV. "We can not predict if it will be zero or $ 1 million or something in between" ...
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