Bithumb forbade Cryptocurrency Trading in 11 Countries

Referring money laundering problems, South Korean crypto exchange Bithumb has prohibited trading in 11 countries including North Korea, Iran, Iraq
28 May 2018   1704

As declared on Monday, the exchange claimed it will correspont to the global anti-money laundering norms by blocking all transactions of residents in jurisdictions belonging to the Non-Cooperative Countries and Territories (NCCT) blacklisting. The 11 NCCT nations that have provided inapplicable measures to combat money laundering, terrorist financing and other threats to the international financial system. The states, in addition to North Korea, include Bosnia and Herzegovina, Ethiopia, Syria, Iran, Iraq, Sri Lanka, Trinidad and Tobago, Tunisia, Vanuatu and Yemen.

This step was enforced on May 27 with Bithumb exchange no more accepting new clients from the 11 nations related to the NCCT initiative. Present users from those countries will also find their accounts disabled from June 21. As reported in  Coinmarketcap, Bithumb is Korea’s great and the world’s fifth biggest crypto  exchange with over $400 million in tokens traded over a 24-hour period.

Furthermore, Bithumb claims, it has powered its own anti-money laundering measures by adopting the recommendations of authorities from the South Korean government and the Korea Blockchain Association, a self-regulatory industry working group. Instituted in December, the strucrure presented a number of measures including ethical codes in an effort to foster transparency in domestic crypto trading markets. The industry body also demanded strict rules in order to prevent market manipulation and insider trading. A row of main exchanges including Bithumb and Upbit will  incur periodic estimations.

We will strictly enforce our own rules and protect our investors while we actively cooperate with local authorities.
Bithumb, South Korea

The crypto exchamge also added that for international users, Bithumb is currently in the process of mandating a mobile verification process to escape any occasions of falsification of user information.

BTC Invesment Profitability to Exceed Traditional Assets

This conclusion was made by Binance Research team in study "What Bear Market?"; since begining of the year the BTC has grown by more than 50%, while oil by 33%
08 May 2019   320

Since the beginning of the year, Bitcoin has grown faster than traditional market assets, including oil, technology companies, real estate and gold. This conclusion was made by Binance Research in the new study "What Bear Market?"

Since the beginning of the year, the price of Bitcoin has grown by more than 50%, while oil - by 33%, tech stocks - by 18%. The price of gold in five months slipped by 1%.

Recently, however, some factors have emerged that may put pressure on the price of Bitcoin. Thus, the recovery of BTC growth slowed down somewhat amid news of a hacker attack on the popular Binance exchange itself, as a result of which 7,000 BTC ($ 40.5 million) were stolen.

Another potentially negative factor for the price of Bitcoin could be the upcoming IEO of the Bitfinex exchange, where Tether stablecoins will be used to purchase LEO tokens for $ 1 billion. It can lead to situation when large players can may actively sell BTC.