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South Korea To Soon Legalize ICOs As Bitcoin (BTC) Rushes Towards $10,000

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The markets are on a steady rise to the much anticipated $500 Billion total market capitalization. Bitcoin (BTC) is a few dollars shy of the $10,000 mark and is currently trading at $9,948 and up 2.6% in 24 hours on this find Saturday. Ethereum (ETH) is also up and by 3.51% and currently trading at $825 at the moment of writing this. Ripple (XRP) is a few cents shy of the $1 mark and currently trading at $0.916. Bitcoin Cash (BCH) is silently doing wonders as it trades

at $1,713 and up 12.95% in 24 hours.

Observing Bitcoin once again, this current levels of trading are $52 shy of the much anticipated $10,000 value that would signify a return of good volumes in the markets and a bullish trend for the King of Crypto. Earlier reports by Ethereum World News, had suggested that a confirmation of Bitcoin’s Bullish Trend would be seen when the coin hits $12,000. The last time BTC was at $12,000 levels was around December 3rd last year. What then resulted from this was BTC reaching its peak value of $20,000 on the 17th of December, 14 days later.

The last time BTC was at $10,000 levels and in a bullish trend, was on November 28th: 5 days before the $12,000 value.

Could we be headed for a repeat performance? Only time will tell.

In other news, the South Korean government has no other choice but to start legalizing ICOs in its jurisdictions. Representative, Hong Eui-rak, of the ruling Democratic Party of Korea, has obtained the support of 10 lawmakers to challenge the current ban on domestic ICOs. With the recent handshake gesture between the two leaders of North and South Korea, the region is sure to experience an economic boom as both countries reopen ties. President Moon Jae-in and President Kim Jung Un have come together in a show of dedication of a lasting peaceful solution in the peninsula.

The reduction of global tensions in the region can be used to explain the current market rally together with news of the South Korean government opting to reopen its doors to ICOs.

2018 has been a tumultuous year for cryptocurrencies with South Korea first flirting with the idea of a total ban on crypto currencies only to do a 180 degree turn with the above announcement. The country wants to regulate the crypto space in its country.“The bill is aimed at legalizing ICOs under the government’s supervision. The primary goal (of the legislation) is helping remove uncertainties facing blockchain-related businesses,” Rep Hong Eui-rak added.

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Crypto News Roundup and Interviews for Jan. 23, 2020

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In addition to our news roundup, for the next few episodes we’ll also be highlighting select interviews from the CoinDesk crew reporting inside the world economic forum in Davos, Switzerland.  Today we’ll hear from former CFTC Chair Christopher Giancarlo on his proposed Digital Dollar push. We’ll end the show by taking a walk with a modern cypherpunk and senior reporter Leigh Cuen.

  • Bitcoin finally breaking out of a range where it’s held over the past week, but it’s bad news for the bulls
  • During an 18-hour deposition, Telegram CEO Pavel Durov pushed back against a U.S. Securities and Exchange Commission
  • In a separate case tying together two recent scandals, former QuadrigaCX users want information about the recently indicted ‘Shadow Bank’ Crypto Capital
  • US Exchange Gemini completes accounting firm Deloitte’s
    SOC Type 2 evaluation, their highest security rating.
  • In Virginia, a lawmaker is pushing the state government to study how blockchain might be used to secure elections and how it might impact the economy moving forward.
  • In Nevada, a former beauty queen turned bitcoin-friendly entrepreneur is running as a Republican for a U.S. congressional seat
  • Amun, a Swiss digital-asset issuer has launched a new vehicle for traders who want to bet on a drop in bitcoin’s price
  • In Tokyo, two men have been accused of stealing 78 million yen (roughly $712,000) from blockchain project VIPSTAR
  • GreekReporter.com said Thursday that Greece’s Council of State approved Alexander Vinnik’s extradition to France where he will face charges of money laundering.

Today’s interviews:

  • Ex-CFTC Chair Christopher Giancarlo on why he launched Digital Dollar Project
  • Why is a Cypherphunk in Davos?

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Law Firm Representing Quadriga’s Ex-Users Want Info About ‘Shadow Bank’ Crypto Capital

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Miller Thomson, the court-appointed legal counsel for former users of the QuadrigaCX cryptocurrency exchange, is asking for help identifying any records related to Crypto Capital, which may be holding some of the exchange’s funds.

In a letter emailed to the exchange’s former customers and posted to its website, Miller Thomson wrote that Crypto Capital Corp., a “shadow bank” registered in Panama, “may have been a payment processor” for the exchange and is asking any customers who have emails or other documents which might be related to Crypto Capital to forward the communications to the legal firm.

“Representative Counsel has been investigating, since its appointment, whether any Quadriga funds were potentially retained by Crypto Capital,” Wednesday’s letter said.

An archived snapshot of Crypto Capital’s website lists QuadrigaCX as a client.

The letter referenced the ongoing court case between the U.S. Department of Justice and Crypto Capital, noting that the shadow bank’s operators are currently under indictment. Reginald Fowler, one of the alleged operators of the company, is in court

and may be heading to trial on charges of bank fraud, operating an unlicensed money transmitter and conspiracy.

Fowler intended to plead guilty to one charge of operating an unlicensed money transmitter, but negotiations between his attorneys and the prosecutors have yet to be concluded. He is now scheduled to appear in a New York courthouse in late April.

Wednesday’s letter also referenced the fact that Bitfinex, another crypto exchange, has claimed to be defrauded by Crypto Capital and is seeking information and rights to seized assets in the shadow bank’s possession in the U.S., Portugal and the U.K., three jurisdictions which have reportedly frozen Crypto Capital’s assets.

“As you are aware, Ernst & Young Inc. (the ‘Trustee’) has been unable to locate QuadrigaCX’s basic corporate records or accounting records. As a result, Representative Counsel is asking Affected Users for assistance on this matter to uncover whether Crypto Capital held Quadriga funds,” the letter said.

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TOP 3 Price Prediction: BTC, ETH, XRP — Uncertainty in Market Continues

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TOP 3 Price Prediction: BTC, ETH, XRP — Uncertainty in Market Continues

The cryptocurrency market has partially restored its position. Meanwhile, the altcoin market today is mixed. Some of the top 10 coins are located in the green zone, while others are in the red. 

Top 10 coins by Coinstats

Top 10 coins by Coinstats

The key data below for Bitcoin (BTC), Ethereum (ETH), and XRP indicate what’s to come.

NameTickerMarket CapPrice Volume (24h)Change (24h)
BitcoinBTC$157 602 979 990$8 671,44$24 584 873 2460,23%
EthereumETH$18 419 910 476$168,40$9 910 073 6690,11%
XRPXRP$10 305 414 349$0,235952$1 623 122 240-0,19%

BTC/USD 

The technical picture of Bitcoin (BTC) has not changed much since Monday. For a moment, there was an attempt to break the $8,550 level. 

BTC/USD chart by TradingView

BTC/USD chart by TradingView

However, the downward movement under pressure from the bears fit into the framework of the current volatility and it was bought back quickly enough.MUST READBitcoin (BTC) Price Skyrocketed to $14,000 Last Time This Indicator Turned Green – 

Over the past three days, local consolidation has formed. All in all, the strategy does not change, since for a longer time period, the trend has persisted and the line of least resistance is still directing upwards.

Bitcoin is trading at $8,649 at press time.

ETH/USD

Ethereum (ETH) quotes remain trading

sideways. Based on an analysis of the trading activity of participants, it can be assumed that interest in purchases is held by small speculators, while large buyers still prefer to stay away.

ETH/USD chart by TradingView

ETH/USD chart by TradingView

On the hourly chart, the chief altcoin is likely to decline in the short-term. The line of the RSI indicator is going down, confirming the ongoing dominance of buyers. Regarding the nearest price forecast, traders might expect the coin to be located at around the $165.50 level.

Ethereum is trading at $166.96 at press time.

XRP/USD

XRP is trading without significant changes. After a rebound from the support level, quotes have remained sideways.

XRP/USD chart by TradingView

XRP/USD chart by TradingView

Even though XRP has continued a sideways trading trend for a few days, it will face a decline shortly. The rate of the coin has decreased by almost 2% over the last day. What is more, the MACD indicator has just switched to a bearish trend. Summing up, the more likely scenario is a drop to the closest support of $0.23.

XRP is trading at $0.2344 at press time.#Bitcoin Price Prediction#Ethereum Price Prediction#Ripple Price Prediction


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