• Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
    • Apa Kabar Indonesia
    • Atlanta Burmese Voice
    • SungKhom Lao
    • Tam Su Voi
    • Usapang Pinoy
    • GAT Insight
    • Georgia Korean Podcast
ABOUT
Advertise in GAT
Contact us
Monday, January 30, 2023
Georgia Asian Times
International Insurance of Georgia
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
    • Apa Kabar Indonesia
    • Atlanta Burmese Voice
    • SungKhom Lao
    • Tam Su Voi
    • Usapang Pinoy
    • GAT Insight
    • Georgia Korean Podcast
  • Login
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
    • Apa Kabar Indonesia
    • Atlanta Burmese Voice
    • SungKhom Lao
    • Tam Su Voi
    • Usapang Pinoy
    • GAT Insight
    • Georgia Korean Podcast
No Result
View All Result
Georgia Asian Times
No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
Home Business

Fears of global crackdown fail to dampen cryptocurrency interest

Georgia Asian Times by Georgia Asian Times
January 18, 2018
in Business

A man walks past an electric board showing exchange rates of various cryptocurrencies at Bithumb cryptocurrencies exchange in Seoul, South Korea, January 11, 2018. REUTERS/Kim Hong-Ji

Share on FacebookShare on Twitter

Miami, January 18, 2018 – Worries about a crackdown by global regulators on cryptocurrency trading could slow the pace of bitcoin’s rise but should not threaten its existence, investors and market participants at a cryptocurrency conference said on Thursday.

A man walks past an electric board showing exchange rates of various cryptocurrencies at Bithumb cryptocurrencies exchange in Seoul, South Korea, January 11, 2018. REUTERS/Kim Hong-Ji

At the North American Bitcoin Conference in Miami, investors and executives interviewed by Reuters were unfazed by government moves to further regulate cryptocurrencies, which have sent prices into a tailspin.

“It’s impossible to ban bitcoin and cryptocurrency trading because the more you regulate, the more it will become popular,” said Francesco Nazari Fusetti, co-founder and chief executive officer of Aidcoin and CharityStars, which aims to launch an online auction platform for the non-profit sector.

Bitcoin soared more than 1,700 percent last year, hitting a record high just shy of $20,000 as institutional and retail investors snapped up the virtual currency on expectations of further steep increases. Its astronomical gains though have attracted the attention of global regulators tasked with protecting investors from fraud.

AD: High Museum of Atlanta

In recent weeks, Japan and China have made noises about a regulatory crackdown while South Korean policymakers said they are considering shutting down domestic virtual currency exchanges. In addition, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) is “aggressively” pursuing virtual currency platforms that lack strong internal safeguards against money laundering.

Bitcoin plunged to below $10,000 on Wednesday on the Luxembourg-based exchange Bitstamp after the South Korean news. On Thursday however, bitcoin recovered to trade at $11,718 BTC=BTSP, up 4.6 percent on the day.

South Korea is the third-largest market in the world for bitcoin trades after Japan and the United States, according to digital currency website Coinhills. Bitcoin trades at roughly a 30 percent premium in South Korea compared with other countries because of huge demand and monetary restrictions in that country, analysts said.

“Such intervention will further squeeze the already heated South Korean market, further drive up spreads to other markets, and push order flow outside the country,” said Trevor Koverko, chief executive officer of Polymath, whose platform makes it easier for start-up companies to launch security tokens.

Eran Eyal, chief executive officer of Shopin, a project that aims to be the decentralized Amazon of the virtual currency space, believes the efforts by governments will not affect bitcoin in a major way.

“You have to think of what the general trajectory is and the general trajectory is upward for cryptocurrencies and bitcoin,” said Eyal. – Reuters

Previous Post

Apple plans second U.S. campus, to pay $38 billion in foreign cash taxes

Next Post

Amazon shortlists 20 cities, including Toronto, for second headquarters

Georgia Asian Times

Georgia Asian Times

Related Posts

Business

US inflation and consumer spending cooled in December

January 27, 2023
Soaring egg prices prompt demands for price-gouging probe
Business

Soaring egg prices prompt demands for price-gouging probe

January 25, 2023
Business

Amazon launches a subscription prescription drug service

January 25, 2023
Google axes 12,000 jobs, layoffs spread across tech sector
Business

Google axes 12,000 jobs, layoffs spread across tech sector

January 20, 2023
Job cuts in tech sector spread, Microsoft lays off 10,000
Business

Job cuts in tech sector spread, Microsoft lays off 10,000

January 19, 2023
Kemp: Georgia budget spending meant to keep economy growing
Business

Kemp: Georgia budget spending meant to keep economy growing

January 18, 2023
Next Post

Amazon shortlists 20 cities, including Toronto, for second headquarters

Signup Free E-Newsletter

Upcoming Events

Feb 18
6:00 pm - 11:00 pm

Spring Festival 2023

View Calendar
Logo

 

CONTACT US

Follow Us

MOST INFLUENTIAL

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

GAT 25 Most Influential Asian Americans Gala celebrates Asian voice

July 18, 2022

Video highlights of GAT 25 Most Influential Asian Americans in Georgia

July 17, 2022

2022 GAT 25 Most Influential Asian Americans in Georgia-Awards Gala

July 17, 2022

LINKS OF INTEREST

ATL Asian Film Festival

GAT on Facebook

Lunar New Year of Rabbit - GAT Special Section
  • Contact Us
  • Advertise in GAT
  • ABOUT

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

No Result
View All Result
  • Home
  • Metro Asian News
  • Misc Asia
  • Lifestyle
  • Business
  • Art
  • Health
  • Eat Out
  • PODCAST
    • Apa Kabar Indonesia
    • Atlanta Burmese Voice
    • SungKhom Lao
    • Tam Su Voi
    • Usapang Pinoy
    • GAT Insight
    • Georgia Korean Podcast

© 2023 Georgia Asian Times - Empowered by 8SOL. Managed by Arckopolis.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Subscribe

Subscribe to our newsletter for the latest
articles straight to your inbox!

    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?