Cryptocurrency Daily News Bulletin, January 23

January 23, 2018 12:10 pm Published by

Please note: Information on this post should not be construed as personal investment advice. Prices were correct at the time of writing.

General

 

Korea. On January 22, Korea announced that cryptocurrency exchanges will pay a tax rate of 24.2% this year. This includes a 22% corporate tax rate and a 2.2% local tax rate. Exchanges will pay corporate tax on income earned last year by the end of March and the local tax by the end of April. Bithumb is expected to pay 60 billion won ($55,800,000), as its estimated earnings reached 317.6 billion won ($335,016,000) last year. The announcement of these plans coincided with a significant drop in cryptocurrency prices early yesterday afternoon (GMT). https://goo.gl/v5ReNw

Korea has confirmed that it will ban the use of anonymous bank accounts in cryptocurrency trading on January 30. Traders will not be allowed to make deposits into their exchange wallets unless the names on their bank accounts match the account name on the exchange. This regulatory move was outlined some time ago (see previous reports). https://goo.gl/qkhHCY

 

BitFlyer. Bitflyer, which operates exchanges in Japan and the United States, has been granted a Payment Institution Licence in Luxembourg and will now open an exchange there. https://goo.gl/6aQbhQ

 

Weiss Ratings Starting Tomorrow. Weiss Ratings, a U.S. independent rating agency, had announced that it will issue letter grades on cryptocurrencies, to be released Wednesday January 24. Beyond bitcoin (BTC), the rating agency will also issue grades for ethereum (ETH), Ripple’s XRP, bitcoin cash (BCH), cardano (ADA), NEM (XEM), litecoin (LTC), stellar (XLM), EOS, IOTA, Dash, NEO, TRON, Monero (XMR), bitcoin gold (BTG) and many others. https://goo.gl/eLLLsf

 

ICO Research. New research, conducted by Ernst & Young, suggests that more than 10 percent of funds raised through “initial coin offerings” have been lost or stolen in hacker attacks. The research also shows that the volume of ICOs has been slowing since late 2017. Less than 25 percent of ICOs reached their target in November, compared with 90 percent in June. https://goo.gl/P5RTXG

 

Scandinavian Banks. Nordea, one of Scandinavia’s largest banks, will no longer allow its employees to trade cryptocurrency. Danske Bank A/S, the second largest Nordic bank, has strongly discouraged its employees from trading cryptocurrency, although, so far, it has stopped short of issuing a ban. https://goo.gl/4JDTTr

 

Individual Currencies

 

Ripple (-11.37%)

(Positive) HYCM, a UK-based, multi-regulated global leader in online capital markets trading, has launched trading on two additional cryptocurrencies, Ripple and Bitcoin Cash, adding XRP/USD and BCH/USD to its range of cryptocurrency offerings. HYCM already facilitates trading of Bitcoin, Ethereum, and Litecoin. https://goo.gl/i1ojws

https://coinmarketcap.com/currencies/ripple/

 

Bitcoin (-12.40%)

(Positive) As the Lighting Network has started to come online, transaction times have started to fall.  From this time a week ago, there was an unconfirmed transaction count at roughly about 125,000 and that number has nearly halved to about 63,555. However, this fall may also have been influenced by a decline in the number of transactions over this period. https://goo.gl/cvQ8GE

https://coinmarketcap.com/currencies/bitcoin/

 

Litecoin (-12.62%)

(Negative) Several commentators have suggested that Litecoin may lose ground if the Lighting Network becomes widely used for Bitcoin transactions, since Litecoin’s success has built on its ability to provide a cheaper and faster alternative. https://goo.gl/cvQ8GE

https://coinmarketcap.com/currencies/litecoin/

 

Ethereum (-13.26%)

(Positive) NG, Société Générale, ABN AMRO, and several other participants have successfully traded a shipment of soybeans on their Ethereum-based Easy Trading Connect blockchain platform. On January 22, US-based seller Louis Dreyfus Co sent the cargo to the Shandong Bohi Industry Co in China. https://goo.gl/wNsfzs

https://coinmarketcap.com/currencies/ethereum/

 

PivX (+26.67%)

(Positive) Today, the Binance exchange began offering the following trading pairs: PivX/BNB, PivX/BTC and PivX/ETH. https://goo.gl/swivWL

https://coinmarketcap.com/currencies/pivx/

 

Bitcoin Cash (-13.14%)

(Positive) HYCM, a UK-based, multi-regulated global leader in online capital markets trading, has launched trading on two additional cryptocurrencies, Ripple and Bitcoin Cash, adding XRP/USD and BCH/USD to its range of cryptocurrency offerings. HYCM already facilitates trading of Bitcoin, Ethereum, and Litecoin. https://goo.gl/i1ojws

(Positive) January 22, Dan Nathan of CNBC’s Fast Money predicted that Bitcoin Cash will overtake Bitcoin this year. https://goo.gl/n2DbYn

https://coinmarketcap.com/currencies/bitcoin-cash/

 

IOTA (-18.48%)

(Negative) IOTA has received significant negative publicity regarding the security of its wallet, after scammers stole approximately $4 million. https://goo.gl/KMzMSc

https://coinmarketcap.com/currencies/iota/

 

Rivetz (-26.45%)

(Positive) Rivetz has announced a partnership with the ORCA Alliance, a European cryptocurrency advocacy and best practices platform, which is planning to hold an ICO later this year. Rivetz will be supporting the two-factor authentication options for ORCA’s platform. https://goo.gl/BCnwKc

https://coinmarketcap.com/currencies/rivetz/

 

Maidsafe (-10.34%)

(Positive) January 22, Maidsafe announced via Twitter that they seeking to expand their team. They are recruiting 2 rust developers, a UI designer, a customer support analyst, a test/release manager, an admin support, and a system architect. https://goo.gl/uGWDwz

https://coinmarketcap.com/currencies/maidsafecoin/

 

Tron (-17.63%)

(Positive) At approximately 11.30 am, TRON announced, via Twitter, that its first Beta Version — Exodus – will be launched on March 31. https://goo.gl/QPS9SA

https://coinmarketcap.com/currencies/tron/

 

– WN.com, Robert Maxwell



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