This Week In Crypto: December 18 - 22, 2017
December 18, 2017: Korean Based Cryptocurrency Exchanges Implement Self-regulation
The Korean Blockchain Industry Association (KBIA) announced self-regulatory measures for cryptocurrency exchanges, at a press conference in Seoul on Friday. This came one day after the Country’s regulators released their emergency measures aimed at curbing the crypto market. They claim to have over 40 companies participating in the self-regulatory initiatives.
December 19, 2017: CFTC Launches Online Resources for Bitcoin Investors
The U.S. Commodity Futures Trading Commission (CFTC) unveiled its new cryptocurrency resource website, which is aimed at educating the public about these wholly digital commodities. The site features links to a range of CFTC releases, including an October primer from its LabCFTC arm and information about futures launches from firms like Cboe and CME Group.
December 20, 2017: Coinbase and Gdax Begin Bitcoin Cash(BCH) Trading
Retail and professional cryptocurrency traders can now trade Bitcoin Cash (BCH) on two of the world’s most popular exchanges, Coinbase and Gdax. News of the announcements sent the BCH price to over $3,500.
December 21, 2017: Hack Causes Youbit to Declare Bankruptcy
Youbit, a relatively unknown South Korean cryptocurrency exchange, recently published an announcement on its official website revealing it has been hacked, adding that the attackers managed to take 17% of its total assets from its hot wallet and that it has filed for bankruptcy.
The exchange marked down customer assets to 75% of their market value, allowing them to be immediately withdrawn. The company added that it will be paying their users back after the bankruptcy proceedings are complete.
December 22, 2017: Russia Plans to Introduce Crytocurrency Regulations
New cryptocurrency laws are expected to be introduced for official consideration to Russia's national legislature on Dec. 28, 2017. According to a senior government official. Russian media sources RIA and TASS cited comments from lawmaker Anatoly Aksakov, who chairs the State Duma's financial markets committee, that the new rules are likely to be cleared by early next year.
We had ups and downs but overall 2017 Has been a great year for cryptocurrencies. Let's hope 2018 will bring about great improvements.
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