#CryptoCorner: #Ether and #XRP Hit Yearly Lows as Market Tumbles Further, Jeju Island in South Korea Seeks to Become #Crypto Hub, #Square (NYSE: $SQ) Announces #Bitcoin Buying Support in 50 States
#CryptoCorner: #Ether and #XRP Hit Yearly
Lows as Market Tumbles Further, Jeju Island in South Korea Seeks to Become #Crypto
Hub, #Square (NYSE: $SQ) Announces #Bitcoin Buying Support in
50 States
August 14th #CryptoCorner and Podcast sponsored by Crypto
payment tech, #Flip @FlipToPay ($NXTD)
and #AI, #IoT, #Blockchain, #Crypto Technology Company Gopher Protocol (OTCQB: $GOPH), GBT a powerful #cryptocurrency centralized / decentralized exchange
Point Roberts, WA, Delta BC –August 14, 2018 -
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Ether and XRP Hit Yearly Lows as Market Tumbles Further, Jeju Island in
South Korea Seeks to Become Crypto Hub, Square Announces Bitcoin Buying Support
in 50 States and EU Report Argues for Crowdfunding Regulation to Cover ICOs
Ethereum (ETH) and Ripple (XRP) are trading at
yearly lows as the crypto market continues to tumble. According to data from CoinMarketCap, Ethereum is down 17.5 percent in the last 24
hours and trading at $256 USD at press time. Ripple (XRP) is 13.5 percent in
the red and is trading at $0.26 USD. Bitcoin (BTC), now accounting for 54.5
percent of market dominance, is trading at $6056 USD and is down five percent
since yesterday. The total market capitalization is down $25 billion USD since
yesterday and is sitting at $191 billion USD currently.
Korea JoongAng Daily reports that the governor of Jeju Island, Won Hee-ryong, requested that
the national government designate the island a special zone for crypto and
blockchain in a recent meeting. Though ICOs, for instance, are essentially
illegal in South Korea, Won made the case that the country could take an early
lead with the new technology with more liberal laws.
“Blockchain can cut costs, provide stable
transactions and essentially has the potential to become a game changer that
could alter the ecosystem of the internet platform industry. For Korea to
become a leader rather than a consumer of this new global industry, we need to
quickly allow [the operation of] blockchain and cryptocurrency [firms].”
Mobile payments company Square ( NYSE: SQ) , announced via Twitter yesterday that users can now buy Bitcoin with their Cash App in all 50
states. The company, co-founded by Twitter CEO Jack Dorsey, launched the
Bitcoin transactional feature on Cash App back in January but upon yesterday’s
announcement nationwide access will be effective immediately.
According to a draft report published August 10, the European Parliament's Committee on Economic and Monetary Affairs is
hashing out regulations on crowdfunding that could encompass ICOs. Written by
U.K. Member of European Parliament Ashley Fox, the report warns of risks typical
of ICOs and advocates for proposed crowdfunding regulation to cover them.
“In order to
allow for a competitive Union framework, crowdfunding service providers should
be permitted to raise capital through their platforms using certain
cryptocurrencies. Initial Coin Offerings (ICOs) offer new and innovative ways
of funding but can also generate substantial market, fraud and cyber security
risks to investors. Therefore, crowdfunding service providers that wish to
offer an ICO through their platform, should comply with specific additional
requirements under this Regulation.”
Sam Mowers, Investorideas
Crypto Corner Sponsors:
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