Welcome to my Cryptocurrencies Market Overview for Tuesday, January 23, 2018.
Today in the news:
- South Korea lawmakers have confirmed cryptocurrency exchanges will become de facto legal January 30 as they enact new laws about anonymity in trading.
- Crypto exchange Bitflyer has launched in Europe after obtaining a license to operate in the EU.
- South Korean credit card companies are reportedly working on blocking payments to overseas crypto exchanges.
- Coinbase reportedly made $1 billion in revenue in 2017, overshooting its 2017 revenue forecast by 66%.
- And more crypto news below...
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Latest Crypto News - January 23, 2018
BitFlyer Granted EU Operational License, Now ‘Most Compliant’ Crypto Exchange
Tokyo-based crypto exchange bitFlyer was issued a Payment Institution license to operate in the European Union, the exchange reported Monday, Jan. 22. The license was granted to the exchange by the Luxembourg regulator, Commission de Surveillance du Secteur Financier (CSSF).
Read more: cointelegraph.com
Other sources:
- License Approved: Japanese Bitcoin Exchange bitFlyer Expands to Europe
- Bitflyer Launches in Europe – Now Licensed on Three Continents
- Japanese Bitcoin Exchange BitFlyer Wins EU License
South Korea Announces Deadline for Halt of Anonymous Crypto Trading
South Korea's financial watchdog has set a deadline for the barring of anonymous cryptocurrency trading accounts within the country.
Read more: coindesk.com
Other sources:
Coinbase Overshoots 2017 Revenue Goal By 66% Making $1 Bln, Rejects Further VC Funding
America’s largest cryptocurrency exchange Coinbase reportedly made $1 billion in revenue in 2017, overshooting its 2017 revenue forecast of $600 mln by 66 percent, Recode reports, citing “industry sources.” According to Recode, despite the peaked interest of outside investors, the company remains private and does not allow stock to be traded on secondary markets.
Read more: cointelegraph.com
Ether Price Outlook Gloomy After Again Falling Below $1K
The price of ether, ethereum's native token, is likely to head south unless the bulls can quickly pull the price back over $1,160 levels, price chart analysis indicates.
Read more: coindesk.com
Bitcoin Transaction Fees are Dropping to $1, Can This be Sustained Long-Term?
Over the past few days, bitcoin transaction fees have dropped to around $1 for median-size payments, even though the bitcoin mempool size has remained relatively high at above 120 million bytes.
Read more: ccn.com
South Korean Card Companies Block Transactions to Overseas Cryptocurrency Exchanges
South Korean card companies are reportedly working on blocking payments to overseas cryptocurrency exchanges. Currently, 20 major crypto exchanges are blocked but that number is expected to increase, according to the Korean Credit Finance Association.
Read more: bitcoin.com
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China’s OKCoin to Launch Crypto Exchange in South Korea
OKCoin, a Beijing-based crypto exchange provider, plans to launch an operation in South Korea although the country’s government is weighing a ban on cryptocurrency exchanges.
Read more: cryptovest.com
Goldman Sachs Warns Investors of Bitcoin 'Bubble' in New Report
Goldman Sachs has claimed that bitcoin is a bubble bigger than the dot-com era and the famous Dutch tulip mania.
Read more: coindesk.com
Nvidia Tries to Limit GPU Sales to Cryptocurrency Miners
After years of enjoying the increased demand from cryptocurrency mining, GPU manufacturers have begun to signal they might not be too thrilled about miners overcrowding the market. Nvidia has requested retailers to take some measures to try and ensure its produces get into the hands of gamers, not miners.
Read more: bitcoin.com
China's Banking Regulator Pushes Blockchain Adoption for Credit Market
Blockchain technology should be adopted as part of a plan to boost development of China's secondary loan market, according to a paper by the China Banking Regulatory Commission (CBRC).
Read more: coindesk.com
State of the SegWit: Slow and Gradual Adoption, Little Change on Fees
The backlog of Bitcoin transactions has cleared somewhat, to around 100,000 pending transactions, from a peak of above 260,000 transactions on extremely active days. The Bitcoin average transaction fee has fallen toward $14, but still remains high. At the same time, SegWit adoption is rising, but only slowly.
Read more: cryptovest.com
Cryptocurrency expectations...
The crypto markets are going down, together with our expectations...
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