#CryptoCorner; Market Continues Decline, LG CNS to Provide Public #Blockchain Platform in South Korea and the ‘Financial Action Task Force’ will Meet to Discuss Binding Regulations
#CryptoCorner; Market Continues Decline, LG CNS to Provide
Public #Blockchain Platform in South Korea and the ‘Financial Action Task
Force’ will Meet to Discuss Binding Regulations
Point Roberts, WA, Delta BC –June 13, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
Market Continues Decline, LG CNS to Provide Public Blockchain Platform
in South Korea and the ‘Financial Action Task Force’ will Meet to Discuss
Binding Regulations
According to data from CoinMarketCap, the crypto market continues to tumble, reaching a
total market cap of about $273 billion USD at press time. This is the lowest
the market has been since April. Bitcoin (BTC), the flagship cryptocurrency, is
at its lowest since February 6, trading at just $6482 USD at press time.
However, other coins fared worse in the last 24 hours with major altcoins like
Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), EOS (EOS) and Litecoin (LTC)
dropping between 8 and 11 percent.
A recent article in Business Korea reports that LG CNS, which is “an IT service provider under LG Group”, will be launching
a public blockchain platform for the Korea Minting, Security Printing & ID
Card Operating Corp. (KOMSCO). The LG CNS blockchain platform, Monachain, will
provide services, as a cloud, like a digital gift certificates and digital
authentication and document certification services.
The piece
explains the services:
“Local
currency service” is a type of digital gift certificates. It is a kind of
virtual currency that can be laid up in digital wallets of mobile devices, like
smartphones or tablets, for purchase.
“Digital
authentication service” allows users to authenticate their identity through
biometrics alone, including personal identification number (PIN) or fingerprint
on mobile devices. “Document certification service” enables to accurately
distinguish whether a document is original or forged. Those who manage mainly
paper documents can draw up, register, send and shred documents without forgery
problems.
Reuters reports that
the Financial Action Task Force (FATF), a global group dedicated to combating
money laundering and finance-related crimes, will begin discussions on June 24
regarding the introduction of binding rules governing crypto exchanges.
“The move, spurred
by a call in March from financial policymakers from the world’s top 20
economies for regulators to monitor cryptocurrencies, would be a step up from
the non-binding guidelines currently in place.
Those
guidelines, dating from June 2015, look for exchanges to be registered or
licensed, for exchanges to verify customers’ identities to prevent money
laundering and for suspicious trading to be reported.”
Sam Mowers, Investorideas
Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of
cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD).
By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders
to seamlessly exchange their cryptocurrency for US dollars and store that value
on a contactless payment device that can be used to make purchases at millions
of retail locations. https://www.fliptopay.com/
Investorideas.com is a leader in Blockchain content
with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com
Join our LinkedIn Group Blockchain
and Digital Currency Stocks and ICO's - Latest News and Commentary https://www.linkedin.com/groups/13560073
About Investorideas.com - News that Inspires Big Ideas
www.Investorideas.com is a meeting place for global
investors, featuring news, stock directories, video, podcasts, company
profiles, interviews and more in leading sectors. Sectors we cover include tech
(AI, drones, internet of things) , payments, crypto and blockchain, biotech,
mining, energy, renewable energy, water , marijuana and hemp stocks, food and
beverage, defense and security (biometrics/cyber) ,Latin America, sports,
entertainment, luxury brands and gaming.
Disclaimer/Disclosure: Investorideas.com is a digital
publisher of third party sourced news, articles and equity research as well as
creates original content, including video, interviews and articles. Original
content created by investorideas is protected by copyright laws other than
syndication rights. Our site does not make recommendations for purchases or
sale of stocks, services or products. Nothing on our sites should be construed
as an offer or solicitation to buy or sell products or securities. All
investment involves risk and possible loss of investment. This site is
currently compensated for news publication and distribution, social media and
marketing, content creation and more. Contact each company directly regarding
content and press release questions. Disclosure is posted for each compensated
news release, content published /created if required but otherwise the news was
not compensated for and was published for the sole interest of our readers and
followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp. Disclosure: this newsletter is sponsored content by
featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip More info: http://www.investorideas.com/About/News/Clientspecifics.asp
Cryptocurrency Disclaimer
Investorideas.com news content is not
meant to be a solicitation to buy or sell cryptocurrencies and
Investorideas.com does not directly sell cryptocurrencies; but acts as a news
and research resource for interested investors following the blockchain sector.
Copyright and ownership: Crypto
Corner is an Investorideas.com content brand
Contact Investorideas.com
800-665-0411
Comments
Post a Comment