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 2018   667

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.


Caspian to Launch Crypto Derivatives Trading

Caspian does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x
21 March 2019   83

Caspian, an asset-oriented asset management platform, has launched cryptocurrency derivatives trading.

Thanks to integration with Deribit, Caspian customers gained access to trading in futures and options for Bitcoin and Ethereum. Also, the platform will provide the opportunity to trade indefinite bitcoin-swap.

According to Caspian, the platform does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x.

We are excited to be working with Deribit to make the trading of crypto options and futures possible within the institutional community. Our goal at Caspian is to provide crypto traders and investors the same standard of tools and service that exist in the traditional markets and its great knowing that the team at Deribit is working towards the same high standards.

Robert Dykes

CEO, Caspian

Caspian noted that their platform connects to Deribit via an API that supports “large trading volumes with extremely low latency”. The platform also has full access to the book of orders of the crypto-derivative stock exchange.