As I mentioned yesterday in my Bitcoin TA , the price did slump and will continue to do so till it reaches the support region of 7-8k , if you want to see the TA here is the link to that : http://bit.ly/2DObE9T
1)New cryptocurrency rules just came into effect in South Korea :
In a document published on Jan. 23, the regulator said it would only allow trade in cryptocurrencies from real-name bank accounts beginning Jan. 30. Those rules enabled banks to comply with their KYC AML (know your customer, anti-money laundering) obligations, the document said.
The measures outlined were intended to "reduce room for cryptocurrency transactions to be exploited for illegal activities, such as crimes, money laundering and tax evasion," the FSC added in the document.
I've covered this topic in greater detail : http://bit.ly/2DObE9T
Source : https://www.cnbc.com/2018/01/29/south-korea-cryptocurrency-regulations-come-into-effect.html
2)Russia's Newly Drafted Cryptocurrency Bill: 'Crypto Not Cash' :
The Russian Finance Ministry drafted a new bill on cryptocurrency on Friday in hopes the state Duma will ultimately sign it into law, moving Russia further ahead in the world of digital currency trading.
The bill states that cryptocurrencies are not an authorized means of payment in Russia. Therefore, cryptocurrency -- based on this draft -- is not money. The opinion by the Finance Ministry rightly reflects the position expressed last year by Central Bank president Elvira Nabiullina.
IMO: This is another step forward to mass adoption as Russia has gone the regulation route rather than the complete prohibition. They also wanted the ICO's coming out from their contry to stay in their country as this in the long term would boost the economy, bringing in more employment and new talent
3)Bitcoin Exchange BTCC Just Got Acquired :
Bitcoin startup BTCC has been acquired by a Hong Kong-based blockchain investment fund. BTCC will focus on its three main products: a mining pool, its Mobi bitcoin wallet and a USD/BTC exchange service. According to BTCC, which is now registered in the U.K., its exchange business traded over $25 billion in bitcoin in 2017, while its mining pool produced almost $900 million-worth of bitcoin in the same year.
Source : https://www.coindesk.com/bitcoin-exchange-btcc-just-got-acquired/
4) Bitfinex,Tether Get Subpoenas From US Regulators:
Major cryptocurrency exchange Bitfinex and token issuer Tether have received subpoenas from US regulators as questions continue to arise about the latter’s ‘true’ value.
Controversy has swelled around Tether, whose chief executive officer Jan Ludovicus van der Velde is also the CEO of Bitfinex, after volatility and rumors of Bitcoin price manipulation surfaced late last year.
While it remains unclear as to what specifically triggered the subpoenas, which both companies received last week, the move comes as less of a surprise amid the flurry of suspicion surrounding them on social media in January.
Source : https://cointelegraph.com/news/bitfinex-tether-get-subpoenas-from-us-regulators
IMO: Although this is good news it dosent make sense, as whalepanda summarizes it best, by the way this could be the reason for the current BTC pullback if you were wondering
5) World’s Largest Investment Company: ‘Interesting’ Bitcoin Is Under ‘Close Review’:
Isabelle Mateos Y Lago, chief multi-asset strategist at BlackRock, an investment management corporation with $5.7 trln in assets under management, has said that the company is keeping cryptocurrency under “close review” as an “interesting development.”
Speaking to Bloomberg TV Monday, Jan. 29, the senior executive said that although cryptocurrency did not constitute “an investable asset” for the world’s largest money manager at present, it was actively tracking progress as it is “clearly evolving very fast.”
IMO: HAHAHA.. they have or already taking positions, why would they buy bitcoin when its overvalued at 25k or their lame excuse of not investing i.e money laundering . They are a Hedge Fund guys so Alpha and Beta matters so it would only make sense to buy around the 7-8k region as it could have a maximum of 0.2 deviation from the portfolio at the 6k price range . Please do not just read articles and take it by word , be more critical when the financial tycoons try to justify their positions on assets . They same can be said with the recent denial of crypto trading desk by Goldman Sachs .. such a bunch of lies .
6)Ripple value set to surge TODAY? Cryptocurrency could receive BOOST from leading exchange :
In a statement, BitOasis said: “We’ve decided to introduce XRP trading to meet the increased demand from our customers to add to the list of major cryptocurrencies and digital assets offered on our platform.
“As one of the largest and fastest-growing companies in the blockchain space in the region, we’re committed to providing our customers with a secure way to buy and sell Bitcoin, Ethereum and now, Ripple.”
After the statement was issued on Sunday, the price of the virtual currency spiked to a value of £1 ($1.40).
IMO : Can't wait for the Oil money to pour into the crypto market, they would inflate the market like no tommorow.
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I post daily content, so here's yesterdays news update if you missed that : https://steemit.com/altcoinbuzz/@steemaze/crypto-news-current-btc-early-motorola-korea-self-regulation-tether-hack-philippines-regulation-ltc-upgrade-qash-partnership
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