#CryptoCorner: South Korean Government Delayed Regulation to Avoid ‘Legitimizing’, Bank of International Settlements Publishes #Crypto Report and Two of #Russia’s Largest Banks to Offer Crypto Investment Portfolio
#CryptoCorner: South Korean Government Delayed Regulation
to Avoid ‘Legitimizing’, Bank of International Settlements Publishes #Crypto
Report and Two of #Russia’s Largest Banks to Offer Crypto Investment Portfolio
Point Roberts, WA, Delta BC – June 18, 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.
Crypto Corner – June 18, 2018
Read this in full at http://www.investorideas.com/news/2018/crypto-corner/06181SouthKoreaRussiaInvestment.asp
South Korean Government Delayed Regulation to Avoid ‘Legitimizing’, Bank
of International Settlements Publishes Crypto Report and Two of Russia’s
Largest Banks to Offer Crypto Investment Portfolio
CCN reports
that the government of South Korea has delayed regulation in the crypto market
out of concern of “legitimizing” it. The piece quotes National Assembly
Committee member Park yong-jin:
“We are
frustrated as well. We fully understand that the government is reluctant
towards regulating the cryptocurrency market because it will inevitably lead
investors to consider it as the government’s way of legitimizing the market.
But, if the government leaves the cryptocurrency market unregulated, it is
simply leaving it vulnerable to variou issues.”
This follows news last week
that the country’s financial agencies, including the Korea Financial
Intelligence Unit (KFIU), would begin regulating institutions like commercial
banks.
The Bank of
International Settlements (BIS), a Swiss-based international financial
institution, published an article yesterday as
part of its annual economic report in which it discusses crypto at length. The
article provides a thorough reading of the crypto world but names three
“shortcomings” as: “scalability, stability of value and trust in the finality
of payments.”
Two of the
largest Russian banks, Sberbank and Alfa-Bank, are experimenting with
crypto-based solutions within the “regulatory sandbox” of the country’s Central
Bank, according to local outlet Kommersant. One such
solution is an investment portfolio which the piece describes as comprising six
cryptocurrencies, including: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH)
and Litecoin (LTC).
"We want
to offer our clients a completely transparent version of the entrance to
digital assets that fully meets the regulatory requirements that will allow
them to invest in an interesting product in Russia," said Anna Ivanchuk,
deputy head of Sberbank Private Banking.
"Our goal
is to accelerate the adoption of a decision on the recognition of the CFA
investment assets and introduce them into the legal field as quickly as
possible," said Anton Rakhmanov, the managing director for the development
of the product offer for Alfa-Bank's private wealth management unit.
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