With the world watching closely on South Korea these past months, the countries Finance Minister, has gone back and forth with his stance on Cryptocurrency and the blockchain. With the previous threats of a complete ban on ALL cryptocurrencies, which thus far has yet to be implemented, to putting a ban on anonymous trading South Korea seems to have changed their attitude on the subject. South Korea has spoke to China on needing further cooperation with the blockchain technology.
China is to continue on with its plan to permanently wipe Cryptocurrency from its country once and for all. China is to block all websites regarding cryptocurrency trading, initial coin offerings (ICO's), offshore trading platforms, and anything that has to do with crypto. Recent attempts have been made to rid Crypto of the country but Investors manage to find ways around, will investors be able to work around more strict implications of the law? Only time will tell. Possibly South Korea can have some influence on China and we may see some cooperation with this in the future.
The Crypto. Market cap has been quite a rollercoaster ride over the weekend. The market cap took a sharp nose dive on Friday down to $348,030,000,000. Although the tip didn't last long as it rallied back up to $460,077,000,000 by Saturday. It has continued to be on a downward trend since the weekend high, currently sitting at $372,424,000,000.
(According to coinmarketcap.com)
Bitcoin down to another low sitting at $7,614.01 currently.
Ethereum following suit of BTC and currently at $770.01.
Tron being affected and staying around $.03.
Stellar rallying to a high of $.42 only to drop off at $.36.
Ripple has been in a downward spiral since topping out at $3.84 January 3rd, 2018. XRP is currently trading at $.75 after dropping to a low of $.63.
Cardano although up slightly from the $.27 low, still down almost 50% from just a week ago. Dropping from $.63 on January 29th to $.34 at the time of writing.
Best of luck with your investments, and let's see this market come back stronger than ever!
I was a little surprised to see China pursue stricter regulation
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I can agree. Especially with the amount of projects that are coming out of China.
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