Crypto Corner: Hash War Ends, #Coincheck Trading Again, Malaysia's Finance Minister Clarifies #Crypto Policy, Ohio to Allow Tax Payment with #Bitcoin
November 26th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - November 26, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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Crypto Corner: Hash War Ends, #Coincheck Trading Again, Malaysia's Finance Minister Clarifies #Crypto Policy, Ohio to Allow Tax Payment with #Bitcoin
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Still No Recovery, Hash War Ends, Coincheck Trading Again, Malaysia's Finance Minister Clarifies Crypto Policy, Ohio to Allow Tax Payment with Bitcoin and French Regulators Warn Against Crypto
The market continued to decline over the weekend, reaching a depth of $115 billion USD according to data from CoinMarketCap. At press time, total market capitalization sits at $119 billion USD. Most of the top 100 coins listed by market cap are in the red for the past day. Notably, however, Bitcoin Cash (BCH) has seen growth of about 5 percent over the last 24 hours and is trading at $175.
The performance of Bitcoin Cash may be attributed to CoinGeek's ending of the hash war between Bitcoin Cash SV and Bitcoin Cash ABC. SV backers like CoinGeek, Calvin Ayre and Craig Wright failed to establish dominant hash power over ABC and therefore could not prevent a permanent split, relinquishing the 'BCH' ticker to ABC.
Japanese crypto exchange Coincheck, which notoriously was hacked and had $530 million USD stolen in January 2018, has begun trading assets again according to a statement from owner Monex Group. All nine cryptoassets that were available for trade at the time of the hack are once again available. These include: Bitcoin (BTC), XRP, Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Bitcoin Cash (BCH), NEM (XEM), lisk (LSK) and Factom (FTC).
Malaysia's New Straits Times reports that the country's finance minister said that all parties wishing to issue cryptocurrencies must first refer to the central bank, Bank Negara Malaysia (BNM). The finance minister, Lim Guan Eng, clarified that the policy was precautionary and was not intended to stifle the new technology.
"It is not that we wish to obstruct (cryptocurrency) as we are keeping an open-mind. But it is still subject to existing laws."
The Wall Street Journal reports that Ohio has become the first U.S. state to allow tax payment with bitcoin. Initially, this will only apply to businesses, but there are supposedly plans to extend this freedom to individuals in the future.
A joint statement was released by French regulators warning against cryptocurrencies in response to recent news that tobacconists in the country would begin selling bitcoin. France's central bank, together with the Autorité des marchés (AMF) and the French Prudential Supervisory and Resolution Authority authored the warning where they highlighted the risk associated with trading crypto.
Sam Mowers, Investorideas
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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/
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