Geez, that was a very, very interesting day for Bitcoin. And we are not talking about the Segwit integration debate.
A lot has happened around the world today regarding Bitcoin, especially regarding government regulations on Bitcoin.
Here are today's most important crypto-news:
South Korea Officially Legalizes Bitcoin, Huge Market For Traders
South Korea has officially legalized international Bitcoin transfers and is on the verge of providing a regulatory framework for Bitcoin trading platforms and exchanges. On July 3, Representative Park Yong-jin of the ruling Democratic Party of Korea revealed that the South Korean government is ready to regulate the Bitcoin market. According to Rep. Park, he submitted three revisions to build a set of regulatory frameworks for Bitcoin users and businesses to further facilitate the growth of the South Korean bitcoin market and industry.
Read more: cointelegraph.com
Swiss Bank Secures Approval for Bitcoin Asset Management: CNBC
Swiss bank Falcon Private Bank has received authorization from the Swiss Financial Supervisory Authority FINMA for the management of assets based on the Blockchain technology supporting Bitcoin, CNBC reports. The Zürich-based private bank manages around $15.1 bln worth of client assets and has offices across Europe and the Middle East.
Read more: cointelegraph.com
Coinbase Adds 100k Users in 3 Days, IRS Loses Ground
The Bitcoin and Ethereum wallet provider Coinbase has added 100,000 users in just three days, continuing a record spurt lasting since June. Coinbase, which has struggled to keep up with demand in recent months, is also making headway in its ongoing legal battle over access to its records for tax purposes.
Read more: cointelegraph.com
Analyst Who Predicted 1987 Stock Market Crash Predicts Bear Market for Bitcoin and Altcoins
Market analyst Elliott Prechter has projected that digital currencies, particularly Bitcoin, will experience a sharp decline in the near future. Prechter has correctly forecast the surge of Bitcoin in 2010 when the cryptocurrency’s price was just six cents. In his July 13, 2017 report, Prechter claimed that the Elliott wave pattern, optimistic psychology, and Blockchain bottlenecks will lead to the collapse of the digital currency market.
Read more: cointelegraph.com
Bitcoin BIP 91 Signaling Near 100%
Although some leaders like Slush believe that BIP 91 is a bit rushed, more than 90% of the last 144 blocks have signaled in favor of the proposal. This is a precursor to Segwit activation, and that there is a critical mass in favor comes as no surprise. However, what is receiving a surprising amount of support is blocks signaling for the “New York Agreement,” a proposal which was born in a meeting which disincluded a lot of important people in the Bitcoin world.
Read more: cryptocoinsnews.com