S. Korea authorities dispelled crypto ban rumours

Administration of the president of South Korea said that the ban on cryptocurrency is only one of the options considered, and not the final decision
11 January   193

On the night of Thursday, January 11, a number of mainstream media disseminated reports about the plans of the South Korean government to prohibit crypto-currency trading. On these news, the market has significantly subsided.

So, earlier today the price of bitcoin fell below $ 13000, in the red zone there is also the majority of other leading crypto-currencies.

Top Ten Cryptocurrencies
Top Ten Cryptocurrencies

The aggregate capitalization of the cryptocurrency market has fallen below $ 650 billion. Also, this rumours was support by the news that South Korean authorities instigating inspection raid at two major exchanges. It had led to the panic sell

At the same time, an analyst based in the Asian region and well-acquainted with the state of affairs posted next Tweet.

But Presidential Administration of South Korea dispelled cryptocurrency ban rumours. It has published a report on the alleged ban on exchange trade promoted by the Ministry of Justice after receiving more than 1,000 applications demanding not to take this decision. This is reported by Yonhap News.

Justice Minister Park Sang-ki's remarks regarding the shutdown of cryptocurrency exchanges is one of the measures that have been prepared by the Justice Ministry, but it is not a finalized decision and will be finalized through discussion and a coordination process with each government ministry," Yoon Young-chan, chief press secretary to President Moon Jae-in, said in a statement. 

Yun Yang-chan

Press secretary of President of South Korea

A few hours after the publication of the proposal to ban exchange trade, the Ministry of Strategy and Finance of South Korea publicly stated that it does not support the position of the Ministry of Justice. 

In order for the proposal of the Ministry of Justice to obtain the status of law, the majority of the members of the National Assembly must vote for it. The entire process can take several months or even years.


Verge to Improve Security via Hard Fork

Verge cryptocurrency will reportedly undergo a hard fork on block 1 824 150 which should resolve stealth transaction issues and enhance privacy features
22 January   2135

Verge has announced that the hard fork of the coin will occur on block 1 824 150. The decision was made because some mining pools were not running the latest codebase, and as a result some stealth transactions did not get confirmed. Verge tried to soft fork, but not enough pools participated. The new hard fork will assure that miners are up to date and process stealth transactions.

Verge tweet regarding hard forkVerge Tweet Regarding Hard Fork

What is more, the hard fork will make sure all transactions will be processed and confirmed even faster, and it will not affect coins in the wallet. After the hard fork, the users will have 6 days to update their wallets to then still have access to their funds. Moreover, balances at any exchanges will not be affected by the hard fork.

Verge latest blocksVerge latest block at the moment of press

As soon as the stealth transaction will be activated with hard fork at block 1 824 150, at the moment of writing the last activated block was 1820480, and the estimated time until the Verge hard fork is 30:31 hours.

Verge Charts january 2018Verge Charts

Currently, the price of Verge is falling down, it decreased 15% within past 24 hours and 30% during past 7 days, having moved the coin to the 26th place in the list of coins ranked by market capitalization.

At the moment of press, these are main market parameters of Verge:

  • Average price: $0,092518
  • Marketcap: $1 341 606 868
  • 24h volume: $83 587 200