A LOW THE CRYPTO-TEAM LED BY THE FAMOUS "Bitcoin"
since last week, the path traced by cryptocurrency was clouded by some facts worldwide, here are some relevant news to stay informed:
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Descent the Bitcoin and the rest of cryptocurrencies in a quiet day
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The prices of the bitcoin digital currency and the rest of the main cryptocurrencies have fallen on Tuesday, still weighed down by the fall caused by the cyberattack to the Tokyo Coincheck exchange last week and the constant uncertainty surrounding the regulation.
Bitcoin was placed at 10,947.00 at 10:24 am (CET) on the Bitfinex platform in the United States. The ethereum, the second cryptocurrency in the world by market capitalization, has been placed at 1,165 USD on the Bitfinex stock exchange. Meanwhile, Ripple's XRP has been placed at USD 1.21 in the Poloinex stock exchange. Japan's Economy Minister, Taro Aso, announced on Tuesday that cryptocurrency exchange management systems should be strengthened after hackers stole 530 million USD in digital currency from the Coincheck exchange last week. The statements come a day after Japan's financial regulator announced it will inspect all cryptocurrency exchanges and ordered Coincheck to improve its standards. Coincheck suspended its operations on Friday after hackers stole 530 million USD in virtual currency during one of the biggest thefts of digital money. The theft has highlighted the concerns regarding regulation and security around digital currencies in the face of the exponential increase in demand and price in recent months. Many countries are taking a stand against the cryptocurrency trade but Japan has adopted a different approach, becoming the first country last year to apply government regulation to the cryptocurrency exchanges in an attempt to take advantage of the technological-financial industry to boost the economic growth.
In South Korea, new measures to prohibit the use of anonymous accounts in commerce with cryptocurrencies have entered into force on Tuesday. The measures are aimed at preventing digital currencies from being used for money laundering and other illegal activities. The trading system with real name is also part of the latest government measures to curb speculation in the face of growing fears that the cryptocurrency bubble is about to explode. The application of the new regulations has been carried out after the disparate messages about the regulation of the South Korean authorities in several ministries shake up the cryptocurrency markets earlier this month.
CCN.com says......
The cryptocurrency markets extended their decline for another consecutive day on Wednesday, as just five of the 100 largest coins and tokens managed to post an advance against the dollar. The Bitcoin price, meanwhile, recovered past $10,000 after yesterday’s report that US regulators had subpoenaed Bitfinex and Tether briefly caused it to dip into four-figure territory.
Source: CoinMarketCap
Altogether, the cryptocurrency market cap shed $37 billion and is now valued at $514 billion following the day’s seven percent decline.
Bitcoin Price Recovers Past $10,000
As CCN reported, the Commodity Futures Trading Commission (CFTC) issued subpoenas to Bitfinex, one of the world’s largest cryptocurrency exchanges, and Tether, a startup that created the dollar-pegged USDT token. The subpoenas were issued in December, but early reports stated that they had been sent last week.These early reports caused widespread panic — largely because Tether has yet to publish an audit demonstrating all of its tokens are backed by actual dollars — and in their wake, the Bitcoin pricecareened down as far as $9,760.
News that the probe had actually begun in December restored a bit of stability to the markets because — the argument goes — the CFTC would have likely have taken swift action against the firms if their operations were as shady as their loudest critics have alleged. However, others, including lawyer Stephen D. Palley, said that it was not necessarily a positive sign.
In any case, the Bitcoin price recovered above $10,000 following the revised report and is currently trading at $10,341 on Bitfinex, which works out to a 24-hour decline of six percent. Bitcoin now has a $174.3 billion market cap.