Lawmakers in South-Korea keen to legalize the initial coin offering

It seems that digital currency has a bright future in South-Korea as well. This is why the South Korean lawmakers are working on a bill so that they can legalize the initial coin offerings. However, it is important that these coin offerings should meet the conditions that are set by the Government.

At the moment the initial coin offerings are banned in South-Korea but it seems that this bill will be able to make a difference for sure. Actually, the lawmakers are trying to play it safe. They intend to legalize the ICO under the supervision of the Government. If this happens, then this will introduce the element of transparency in the initial coin offerings.

Apparently, it looks that this bill will get the much needed acceptance and there is a reason behind it. The bill does not focus on legalizing any ICO. It is focused on legalizing only those ICO’s that are introduced by the public organizations.

Secondly, the bill also emphasizes on promoting the ICO’s that are initiated by research centres that are focused on promoting the blockchain technology. Once this bill is initiated, then the financial authorities will allow the ICO’s provided certain conditions are met.

This is why all those who initiate the ICO’s should make sure that they follow the Government’s terms and conditions. The exchanges are also taking interest in initiating the ICO. A cryptocurrency exchange by the name of Bithumb just took an initiative in this regard. It has decided to launch an ICO in Singapore.

This positive environment for digital currency investments and ICO will surely affect South-Korea in a positive way and more people will be interested to walk in this direction. Any public organization that plans to hold an ICO in South-Korea should make sure that it is fully aware of the regulations.

This does make a difference at the end of the day. If this law to legalize ICO gains acceptance, then it will surely be a major milestone in the history of South-Korea. However, organizations and research centre should make sure that they follow the instructions of the Government to the core.

The ICO’s can only be successful in South-Korea if the Government support is there. Once the Government develops confidence in the ICO’s, then the blockchain technology is bound to prosper in South-Korea. Till then we can just hope that the efforts of the lawmakers do not go waste and Government considers the introduced bill.

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First week of May quite happening for the digital currency market

There has been a lot of action in the digital currency market recently. The digital currency has witnessed some major fluctuation in the last 72 hours. If we look at some past records, then some of the digital currencies witnessed a major drop in their values. They experienced a drop of about 6% to 8%.

The good news is many of these digital currencies have been able to recover their loss. The digital currency enthusiasts are of the opinion that May is going to be a great month for digital currency investments. At the moment the Bitcoin Cash markets have been able to spike up so it is the right time to invest in Bitcoin Cash.

Apparently, it seems that the market will continue to improve. However, this does not mean that the traders should trade without a plan. It is important to keep monitoring the digital currency market and make the best move.

The investors should not forget the fact that the digital currency is volatile in nature so there is no room for mistakes. Both the upward and the downward trend have been witnessed in the beginning of May so the traders need to plan their trades accordingly.

If we individually assess the performance of BCH/USD, then it has been able to witness an increase of about 10%. The BCH market has been able to reach above $24Bn so it seems that there is no turning back for BCH at this point of time.

There are many exchanges that are actively dealing with BCH trading at this point of time because it is doing significantly better than other digital currencies. The names of these exchanges are Bitfinex, Okex and Binance.

However, this is surely not the right time for any aggressive moves. If the traders trade without monitoring the trends, then this can turn out to be a fatal error. Investors who wish to invest in Ethereum and Bitcoin Core should also go ahead with their decision because these two digital currencies are also doing quite well at this point of time.

Apparently, it seems that this positive trend will continue in the month of May and the traders will be able to profit from the situation. Another thing that traders should remember is that many exchanges may rise at this point of time to cash on the situation. This is why the traders should opt in for the reliable exchanges only for trading digital currency.

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Japan all set to Lay the Foundation of a Solid Crypto Industry

The Japanese Crypto market has recently become quite a happening place. About 8 companies have decided to opt out and have withdrawn their applications to operate the crypto exchanges.

Well, the other side of the picture is that about 100 companies have shown interest to step into the crypto market. The majority is surely authority, and it seems that companies that want to invest in digital currency surely outnumber the ones that do not seem to be interested in digital currency investments.

This means that the crypto investment environment in Japan is bound to become quite positive. At the same time, it is also important to review why some of the exchanges have decided not to go ahead in the crypto field. They must be having their set of reasons.

It is important that the Japanese Financial Regulatory authority needs to look into these issues so that they can adopt the adequate measures to make the financial scenario in Japan more favorable for crypto investments.

Japan will also need to adopt strong measures to establish a solid regulation system that can pinpoint the possible flaws in the functioning of the crypto exchanges. This will promote the element of transparency.

What everyone needs to understand is that digital currency investments are a new field comparatively. This is why it is important to adopt all possible measures to make the investors more comfortable.

It is also vital that the Japanese Investors should have adequate knowledge about the crypto market so that they can invest accordingly. It is obvious that companies that have decided to invest in the crypto market must have seen some potential in the industry. This is why they feel that the effort is worth and does deserve a chance.

If these 100 companies are successful in the crypto field, then this will be a huge milestone. Plus, this will help to establish the credibility of the crypto market. The Japanese government should also ensure that they encourage these positive moves so that the crypto industry can excel.

Moreover, when they are more competition among the crypto exchanges, then there will be this level of accountability as well. At the moment things seem to be in the initial stages. However, if things go right, then the investors will be more than happy to try their luck in the crypto world because it is undoubtedly the currency of the future and does hold a lot of scopes.

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Bermuda soon to become a digital currency hub

Cryptocurrency is surely going to progress in the coming years, and there is a special reason behind it. The Governments have started to analyze the benefits of digital currency and believe that a digital currency hub can turn out to be quite a profitable venture.

Recently, Bermuda has also accepted the fact that cryptocurrency investments can turn out to be a profitable venture and is working on the crypto regulations. Bermuda has also decided to work on a collaborated venture with Binance a cryptocurrency exchange.

Well, Binance will establish a Global Compliance Centre in collaboration with the Government. Binance has planned to make massive investments in this regard. The exchange has decided to invest about $10 million in the field of education for the local residents.

Binance has also decided to play its role in the field of cryptocurrency and has decided to invest about $5 million for the blockchain companies. This surely spells out good news for all the digital currency investors out there who want to make it big in the field of digital currency investments.

There is no denying the fact that Bermuda is the perfect choice for a global compliance department. Plus, Bermuda has decided to provide an ideal environment to all the digital currency firms out there.

It is important that Bermuda should continue its progress in this direction for the welfare of the crypto sector. In fact, it should also try to spread awareness about digital currency so that people are confident to invest in this direction.

The collaboration with Binance is eventually going to pay off. Plus, there are chances that this collaboration may lead to many other. At the same time, Bermuda should ensure the transparency of digital currency operational mechanisms so that people feel free to invest in this field and they do not have any apprehensions in this regard.

Bermuda should have a well-organized monitoring authority that should monitor these operational mechanisms so that any fraudulent exchanges cannot operate in this situation. This will be the smart move, and this will help to take the success of digital currency a step further.

Apparently, it seems that Bermuda has a bright future ahead when it comes to digital currency investments and this will soon pave the way for all the digital currency investors out there. Plus, this investment opportunity will also pave the way for many digital currency exchanges out there to grow in this region.

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Success ahead for Venezuela’s Petro

Venezuela is making a lot of progress in the field of digital currency. Recently, the Government announced that it would be authorizing the certification of about 16 digital currency exchanges.

Now, this step will play a lethal role to promote Petrol in the international market and people will be able to manage the Petro transactions with immense ease. This step also shows that the Government has confidence in the digital currency and wants to offer solid volume for the transactions.

The exchanges that have been granted the certification are Coinsecure, Criptocapital, Criptoexchange, etc. Coinsecure is one of the Indian exchanges that has been granted the certification. Apparently, it seems that Venezuelan Government was keen to add Petro as a digital currency on Coinsecure.

This way it will become easier to trade Petro against the Bitcoin. Plus, Venezuela has decided to grant some additional incentives to India if they use the Petro. Venezuela has offered a discount of about 30% on the crude oil provided India agrees to make use of the Petro.

Venezuelan Government strongly believes that Petro is more of an economic miracle and this is why they want to use this digital currency to their benefit. At the moment the Venezuelan Government is working with a solid strategy in hand.

The way they are promoting Petro is surely going to make it a success globally. Plus, the exchanges that are granted the certification by Venezuelan Government will be more than eager to make use of this digital currency.

Now, what the Government of Venezuela needs to do is that they should continue their efforts if they want to acquire ongoing success for Petro. As soon as Petro achieves global acceptance, it will benefit the Venezuelan Government more. If this milestone is achieved, then this will pave the way for digital currency investments in Venezuela.

At the same time, the Venezuelan Government is going to face some challenges as well. The biggest challenge is that the Government needs to maintain the element of transparency in digital currency investments. If the element of transparency is not there, then unregulated exchanges can acquire benefit from this situation.

Ideally, the Government should follow the proactive approach and plan out the measures in advance to avoid any unforeseen trouble in the progress of Petro. This way success is bound to come easily for Petro and people will start to confide in this digital currency is simply no time.

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KYT all set to scrutinize digital currency users

Chainalysis recently released a product called Know Your Transaction. KYT allows the businesses to track down those customers with ease who are involved in any illegal digital currency related activity.

KYT is on a mission to blacklist all those bitcoin holders who have a shady history related to their digital currency investment. Now, this does not spell good news for those who own the digital currency. The reason is that most of the people will not prefer the fact that their transactions get tracked.

However, what cryptocurrency owners need to understand is that software like KYT had to emerge on the forefront sooner or later. The important thing is KYT seems to question the biggest perk of digital currency and that is anonymity.

This is why most of the users out there will not support KYT. The vital thing is that makers of KYT need to redefine the objective of this software. Ideally, it should only be used to track those transactions that do not look clean.

At the moment digital currency is still in a state of evolution and it will not be able to survive this extreme monitoring. This is why the better approach will be to define a roadmap for using KYT so that the users do not feel uncomfortable using this software.

If we look at the entire scenario with a neutral perspective, then Chainalysis is not all wrong in coming up with this software. Most businesses prefer to have an impressive customer portfolio and do not want to put their reputation on the line.

Such businesses are justified to investigate their customers. One bad client can put a bad mark on the reputation of a business. The crucial thing to understand is that people should not exploit the use of KYT.

If this software is used appropriately, then it will encourage digital currency owners and investors who indulge in legitimate digital currency related activities. Apparently, it seems that KYT is here to stay and make an impact. However, people who do not indulge in legitimate digital currency related activities may find it hard to survive now.

If KYT venture goes well, then there is a possibility that Chainalysis might come up with more such products in the near future. There is also a possibility that Chainalysis may introduce some advancement in KYT as well. Till then everyone needs to wait and watch for Chainalysis’s next move.

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Venezuelan Government Takes Action against Two Cryptocurrency Exchanges

Venezuela has been in the news for a special reason. The Government of Venezuela took some strong measures against two cryptocurrency exchanges and decided to shut them down. These exchanges initially facilitated the users to convert into different digital currencies and they also allowed the users to send the remittances abroad.

The Government has primarily taken action against those exchanges that have spread fall news related to exchange rates. The names of these exchanges are Rapidcambio and Airtm. However, the actions taken by the Government will only affect the operation of these exchanges in Venezuela because they have a number of different operation mechanisms.

They have social media accounts and they have international bank accounts in different countries. What these exchanges do is that they receive the cash in these international bank accounts and they convert the cash at an unrealistic rate.

Rapidcambio decided to come up with some explanation in this regard and they posted on their site that they put in their best efforts to operate in an honest manner. However, there is no smoke without fire. The Government always takes action after a fair amount of investigation and if they decided to take action against this exchange, then it has to be in the best interest of the public.

The problem is that Rapidcambio has been unable to give a valid justification for the high exchange rates. This is why the public should make sure that they cooperate with the Government. At the moment the wise move is to invest trust in those exchanges only that have received acceptance from the Government.

We all need to understand that digital currency is a new concept comparatively and investing in exchanges that have a shady past can turn out to be a disastrous move at the end of the day.

The best move will be to invest in reputed exchanges in reputed digital currency exchanges in Venezuela. This way the locals will not have to worry about losses coming their way. It is also important to investigate an exchange before registering. These days it is not quite a problem to find information about an exchange online.

If a credible website and reliable information is not available, then it is a red flag alert and people need to be on their guard against such exchanges. The action taken by the Venezuelan Government is an eye opener for many and this move will now snub many other shady exchanges.

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