Summary:
- South Korean government tests blockchain in shipping
- Japanese regulator releases draft of crypto framework
- Bitcoin (BITCOIN on xStation5) returns above $3400
Yesterday’s trading was largely successful for major cryptocurrencies as they experienced noticeable increases. Bitcoin returned above the $3400 handle, and Ripple (RIPPLE on xStation5) rose to nearly $0.32. As a result of these strong increases, the capitalization of the whole cryptocurrency market went up to around the $113 billion mark.
Bitcoin rose from around $3200 to around $3450 just in one day. As a result of these large rises, the largest cryptocurrency has returned to the levels seen several days ago. However, the cryptocurrency has not experienced any major price movements today so far. Source: xStation5
Japan releases draft of crypto regulations
The Japan’s Financial Services Agency (FSA) published on Friday a draft report determining new regulations for cryptocurrencies and initial coin offerings (ICOs). The report focuses, among others, on the issues connected with hacking incidents. Moreover, the document says that ICOs can be subject to various types of regulations. Furthermore, the Japan’s Financial Services Agency recognizes also significance of cooperation with self-regulatory organizations, as the document explains. The publication of the draft report was preceded by some meetings of a study group of the FSA - during its 11th meeting the group summarized the recommendations from the previous meetings.
Yesterday’s trading was undoubtedly successful for the second largest cryptocurrency as Ripple jumped from around $0.285 to above $0.32. Moreover, Ripple has seen increases so far today. Source: xStation5
South Korean government tests blockchain to improve shipping
Two South Korean ministries, the Ministry of Science, ICT and Future Planning, and the Ministry of Oceans and Fisheries, launched a blockchain pilot program which is aimed at improving shipping efficiency. The project will start this month and it will be conducted in Busan, the important southern port, over the next year. This blockchain project is one of six pilot programs announced by South Korean government previously. All expenditures on these programs are planned to be at around $9 million (10 billion Korean won).
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