On Sunday, bitcoin and other cryptocurrencies rebounded after sharp declines during the week. After briefly rising over 3%, bitcoin rose 1% for the day, settling at $6,241. For the week, bitcoin is still down 13%, though it has risen 0.64% for the month. It is currently trading at…
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South Korean Politican Proposes Cryptocurrency Regulation
Yoon Suk-heun, who is the governor of South Korea’s Financial Supervisory Service (FSS), recently proposed that cryptocurrency regulators across the world should cooperate with each other more, not only in regards to cryptocurrency trading, but also in regards to initial coin offerings (ICOs). Suk-heun made the proposals during remarks…
Goldman Sachs Noncommittal as Crypto Market Continues to Slide
Anyone who has kept close tabs on the value of cryptocurrency knows that the markets have been on a roller coaster ride for the past 10 months. On September 5, 2018, the estimated market value of all cryptocurrencies was $239 billion, but that dropped to $200 billion on September 6.…
Goldman Sachs CEO Releases a Statement on Trading Cryptocurrency
The Chief Financial Officer for Goldman Sachs, Martin Chavez, responded recently to reports that his company had decided against the start of a planned trading desk for cryptocurrency by calling the reports 'fake news.' The comments from Chavez came while in San Francisco for the TechCrunch Conference. Chavez…
Lawmakers in Switzerland Have Allowed Trade for a New Cryptocurrency
According to recent news reports, the Swiss blockchain startups Smart Valor has received approval from their country's regulators and will be able to begin operating. The company is going to be regulated by the Financial Services Standards Association (VQF), which is responsible for ensuring compliance with anti-money laundering…
Cryptocurrency Gaining Popularity in Countries Experiencing Economic Distress
Cryptocurrencies have become increasingly popular in countries experiencing an economic crisis, such as Venezuela and Turkey. At a time when their national currency is quickly losing value, many individuals in these countries see cryptos as a safer way to save money. Increased crypto trading volumes during periods of economic volatility…