Here is the latest news about crypto world:
South Korea could make a decision on Thursday over its stance on cryptocurrency exchange regulation, according to a report by Reuters.
South Korea's Financial Services Commission:“South Korea is considering both shutting down all local virtual currency exchanges or just the ones who have been violating the law.”
The comment indicates the government is moving to clear the recent confusion around cryptocurrency regulation in South Korea, mainly created by conflicting comments issued by different government bodies.
Aslo, Institutional Investors Will Bet Big on Cryptocurrencies in 2018
Unlike the stock market, which is seeing its eight-year bull run thanks, in part, to institutional investors, crypto-markets are dominated by individual investors. This is evident by almost every metric.
Crypto-exchanges, which are havens for individual investors, are overwhelmed. Popular crypto-exchange, Binance recently revealed that they added 250,000 new users in a single day. Kraken is onboarding 50,000 new accounts daily and they are logging an astonishing 10,000 new support tickets every day. In a blog post, Kraken developers wrote:
“The recent unexpected explosion in demand has been overwhelming.”
Some exchanges including Binance, Bitfinex and CEX.io have temporarily halted new account registrations so that they can update their technology and better prepare their platforms for the rush of individual investors flooding the market.
Moreover, the much-anticipated Bitcoin futures contracts are also being dominated by individual investors. According to The Wall Street Journal:
“In a sign of how more conservative firms are keeping their distance, the CFTC data show near-zero trading in Cboe’s Bitcoin futures by banks and asset managers.”