MVIS-CryptoCompare Index:
The MVIS CryptoCompare Digital Assets 10 Index has closed at 13,344.87 with a loss of 0.75% for the day.
Market Update:
At the time of writing, the Bitcoin price is sitting at $13,840, representing a gain of 2.7% in the last 24 hours. More than $2.4B worth of BTC were exchanged in the BTC/USD market representing a 40.5% share of daily volume, followed by the BTC/JPY pair that represents a 33.5% share.
The Ethereum price has dropped by 5.3% over the past 24 hours and is currently sitting at $1,237, with over $1.4BM worth of Ether exchanged in the past 24 hours on the ETH/USD pair which has a 33.5% market share of the daily trading volume.
South Korea Plans To Ban Bitcoin Trading
South Korea is planning a law to ban cryptocurrencies such as Bitcoin being traded through its exchanges. The justice minister said cryptocurrencies were causing the government great concern. Meanwhile, several Seoul cryptocurrency exchanges have been raided this week in a probe into alleged tax evasion. The South Korean justice minister, Park Sang-ki, stated:
"There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges."
SEC Suspends Trading in UBI Blockchain Firm
The US Securities and Exchange Commission (SEC) has announced the temporary suspension of trading in the securities of UBI Blockchain Internet, Ltd on January 8, 2018. The SEC explained why it suspended trading in the securities of UBI:
“Questions regarding the accuracy of assertions, since at least September 2017, by UBIA in filings with the Commission regarding the company’s business operations; and concerns about recent, unusual and unexplained market activity in the company’s Class A common stock since at least November 2017.”
Florida Bill Legally Recognize Blockchain Signatures, Smart Contracts
A lawmaker in Florida has introduced a bill that, if passed, would create a legal foundation for blockchain data and smart contracts in the U.S. state. Notably, the bill states that a record or contract that is secured through blockchain technology is in an electronic form and is an electronic record, and confirms that a signature recorded through a blockchain also qualifies as a valid electronic signature.
As a result of these qualifications, the bill outlines that, if a person uses a blockchain to secure interstate or foreign commercial ventures, it would not impact ownership rights. In other words, if someone used a blockchain ledger to store information, the bill would legally recognize that person's rights to that information. Similarly, the bill states:
State of the Crypto:
Bitcoin is up 2.69% at $13,840.870 with a volume of Ƀ172.5k - $2410.6M on the USD pairs.
Ether is down 7.99% against Bitcoin at Ƀ0.08954 per Ether and down 5.31% against the dollar to $1237.42 with average volume Ƀ123.4k on the ETH/BTC pair.
Bitcoin Cash is up 7.4% to Ƀ0.1843 with volumes of Ƀ59.2k and up 10.28% against the dollar at $2545.82.
Ripple is up 5.23% to Ƀ0.0001327 with volumes of Ƀ58.5k and up 8.88% against the dollar at $1.84.
Zcash is up 3.39% for the day to Ƀ0.04734 per ZEC and up 5.1% against the dollar to $652.43 with an average volume of Ƀ5.9k for the 24 hour period.
Litecoin is up 2.53% against the dollar for the day at $237.25 and up 0.06% to Ƀ0.01709 on volumes of Ƀ19.6k.
Dash is down 1.37% at Ƀ0.07539 with Ƀ7.4k volume and up 1.17% against the dollar at $1045.34.
Iota is up 9.36% to Ƀ0.0002606 on Ƀ5.4k volume.
Ether Classic is down 2.51% to Ƀ0.002488 with volumes of Ƀ15.4k and up 0.18% against the dollar at $34.28.
Monero is up 4.29% against the dollar at $379.08 and up 1.55% against Bitcoin at Ƀ0.02749 on volumes of Ƀ6.2k.
Neo is up 1.37% for the day to Ƀ0.008506 per NEO and up 4.41% against the dollar to $116.85 with an average volume of Ƀ10.1k for the 24 hour period.
Waves is down 2.06% to Ƀ0.0008142 on Ƀ3.1k volume.
Stratis is down 1.75% to Ƀ0.001235 on Ƀ2.7k volume.
