#CryptoCorner: Market Tumbles, South Korean Exchanges Join to Combat Money Laundering, Kik to Fight SEC, Iran Close to CBDC and Belarusbank Considering #Crypto Exchange
January 28th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch
Point Roberts, WA and Delta, BC - January 28, 2019 (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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#CryptoCorner: Market Tumbles, South Korean Exchanges Join to Combat Money Laundering, Kik to Fight SEC, Iran Close to CBDC and Belarusbank Considering #Crypto Exchange
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Market Tumbles, South Korean Exchanges Join to Combat Money Laundering, Kik to Fight SEC, Iran Close to CBDC and Belarusbank Considering Crypto Exchange
As the week begins data from CoinMarketCap indicates that the crypto market has lost around $7 billion USD since Sunday. This puts the total market cap at $112 billion at press time. Consequently, most of the top 100 coins listed by market cap are in the red. Bitcoin (BTC) has remained fairly stable, only down 3.7 percent and trading for $3457. The next biggest coins by market cap, XRP and Ether (ETH), lost 6.7 percent and 9.3 percent, respectively.
CoinDesk reports that four cryptocurrency exchanges in South Korea - Bithumb, Coinone, Korbit and Upbit - have partnered to combat money laundering. The four companies are joining to create a hotline to share real-time wallet information on suspicious crypto trades. According to the report: "The exchanges will also operate a shared database of suspicious wallet addresses that would, for example, be able to help them identify and halt scammers looking to use different exchanges to move a large quantity of cryptocurrency to the same wallet."
Messaging app company Kik is "fighting" the SEC, according to founder and CEO Ted Livingston in a Medium post yesterday. Believing the SEC will bring a case against Kik for the ICO of their Kin currency, Livingston cites page 11 of the 1934 Securities Exchange Act - the act that created the SEC - that the definition of a security "shall not include currency." Livingston said:
This situation is not unique to Kik. There are dozens of projects at a similar point with the SEC. We all believe that this industry needs regulation, but we also believe that this is not the way to get it.
Al Jazeera reports that Iran is close to unveiling a central bank-issued digital currency (CBDC) in response to persistent US sanctions. The cryptocurrency is expected to be officially announced at the annual two-day Electronic Banking and Payment Systems conference on January 29 in Tehran. The theme for the conference this year is "blockchain revolution".
Belarusbank, the largest bank in Belarus, may be setting up its own cryptocurrency exchange, according to a report from local outlet BelTA. The chairman of the bank's board, Viktor Ananich, discussed the possibility on Belarusian TV saying:
"Digitalization-related projects will be virtually exclusive in nature. However, at present things are changing very fast and we need to keep up with them."
Sam Mowers, Investorideas
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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/
Genesis Exchange and Wallet App by Genesis Blockchain Technologies (GBT)
@GenesisBlockch
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange. You can Download the Genesis Exchange and Wallet App at Google Play and on the Apple App Store. Learn more at http://www.mygenesis.io
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