A group of major financial institutions wants to use blockchain technology to resurrect a business that nearly destroyed the global banking system in 2017: converting mortgages into securities.
Several South Korean officials were caught in insider trading of tokens. They sold all of their cryptocurrency holdings just before South Korean regulators announced new restrictions. The Financial Supervisory Service (FSS) is currently investigating the matter.
A petition against tightening cryptocurrency regulations in South Korea has received more than 215 thousand signatures needed for it to be considered by the government.
The Portuguese consumer protection association DECO proposes introducing a tax for cryptocurrency investors. This tax, according to the association, should be the same as for the tax on profits received by shareholders, that is, 28%
Bearish trend or protracted correction?
Japan's largest financial institution, Mitsubishi UFJ Financial Group, plans to open a crypto exchange aimed at retail investors. The Japanese newspaper Mainichi Shimbun and the national public publication KBS of South Korea reported that MUFG is preparing a team of developers to create a local cryptocurrency market.
Today in the blockchain industry there is high uncertainty about the status of cryptocurrency. And although the future of Bitcoin largely depends on its legal status, many countries are not ready to formulate their official position regarding virtual money. Japan has demonstrated an intermediate approach. On the one hand, not recognizing cryptocurrency as national money, on the other hand, allowing and taking under state control all operations in the cryptocurrency market.
Yesterday the market succumbed to panic, which is gradually subsiding. For each pair, in my opinion, I estimated the level to which the price will return after the excitement in the market subsides. This is the information I want to share with you in today’s review.
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