#CryptoCorner: South Korean Government Legitimizes #Crypto Sector, Swiss Stock Exchange Operator to Launch Crypto Exchange, #Huobi Opens in Australia and India’s Ruling Party Accused of ‘Mega Bitcoin Scam’
#CryptoCorner: South Korean Government Legitimizes #Crypto
Sector, Swiss Stock Exchange Operator to Launch Crypto Exchange, #Huobi Opens
in Australia and India’s Ruling Party Accused of ‘Mega Bitcoin Scam’
Point Roberts, WA, Delta BC – July 6, 2018 - Investorideas.com, a leader in crypto and
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Read this in full at http://www.investorideas.com/news/2018/crypto-corner/07061SouthKorea-Swiss-Huobi-Australia-India.asp
South Korean Government Legitimizes Crypto Sector, Swiss Stock Exchange
Operator to Launch Crypto Exchange, Huobi Opens in Australia and India’s Ruling
Party Accused of ‘Mega Bitcoin Scam’
The total market cap for crypto is $266 billion USD
at press time, having fallen roughly $5 billion USD in the last 24 hours,
according to data from CoinMarketCap. Bitcoin (BTC), the flagship cryptocurrency, still
accounts for about 42 percent of market dominance and is trading just slightly
lower than yesterday at $6600 USD.
The government of South Korea is taking steps to
legitimize the crypto sector with the introduction of new classification
standards for the industry, according to a report on Cointelegraph. The report is based off news from South Korean
outlet The BChain, and details the classification system as “a basis for policy making, notably
aimed towards “blockchain promotion and regulatory frameworks,” and covers
areas including blockchain systems construction, decentralized applications (DApps) development, and cryptocurrency exchanges and transactions.”
Perhaps most notably, the draft redefines crypto exchanges as regulated
financial institutions and reflects a more legitimate estimation from the
government.
The owner of
Switzerland’s stock exchange, SIX, is launching a crypto exchange called the
SIX Digital Exchange (SDX), which will be regulated by the Swiss National Bank
and the country’s financial regulator. A company press release quotes SIX CEO Jos Dijsselhof:
“This is the
beginning of a new era for capital markets infrastructures. For us it is
abundantly clear that much of what is going on in the digital space is here to
stay and will define the future of our industry. The financial industry now
needs to bridge the gap between traditional financial services and digital
communities. This is the role that we at SIX can play.”
Crypto
exchange giant Huobi began operations in
Australia with the launch of its platform yesterday. Ten pairs are currently on
offer for exchange with the Australian Dollar (AUD) including Bitcoin (BTC),
Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum Classic (ETC).
India’s Indian
National Congress party (INC) alleged a “mega bitcoin scam” on the part of the
country’s ruling Bharatiya Janta Party (BJP) and requested a Supreme
Court-monitored judicial probe, according to the Hindustan Times yesterday. Party leader Shaktisinh Gohil accused the BJP
of blackmail and extortion.
“There were
reports of the state police blackmailing some businessmen in Surat for
extortion and named a former BJP legislator as one of the kingpins.”
The INC claims
that the BJP were converting “black money through bitcoin transactions”
amounting to more than $727 million USD.
Sam Mowers, Investorideas
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