Pundi X (CURRENCY: PXS), a cryptocurrency point - of - sale («POS») solution provider announced over the weekend it has formed a partnership with Coinnest, which is described as the fourth
largest cryptocurrency exchange platform in Korea, announced a strategic partnership.
This week, as CCN previously reported, South Korea's third
largest cryptocurrency exchange Korbit told its users that foreigners will no longer be able to deposit or withdraw Korean won on local cryptocurrency exchanges once a new anti-money laundering (AML) system is integrated by the end of January.
The Binance situation can also be considered as a positive movement for the company, given that this will provide opportunity for Binance to operate legitimately, as a regulated financial service provider within Japan, to serve the second
largest cryptocurrency exchange market in Japan.
China's second - and third -
largest cryptocurrency exchanges Huobi and OKCoin have delayed their planned launches in Korea amid the tightening of government regulations here, according to industry sources on Jan. 3.
Without them,
several large cryptocurrency exchanges would likely lose their banking partners entirely; this would reduce liquidity of many trading pairs around the world, leading to prices dropping substantially, and the community relying once again on fewer sources of liquidity run out of the brown bags on shady street corners.84
The daily trading volume of Bitcoin across
large cryptocurrency exchanges remain solid, and short - term momentum indicators such as moving average convergence divergence (MACD) demonstrates strong short - term momentum for Bitcoin.
Although decentralization is one of the foundational pillars of the cryptocurrency revolution, many of the world's
largest cryptocurrency exchanges still maintain centralized power structures.
South Korea's
largest cryptocurrency exchange Upbit has invited all of its users to use its new system aimed at identifying multi-level, illegal scams posing as cryptocurrencies or initial coin offering (ICO) tokens.
Bitcoin Cash has been the best performing major cryptocurrency, outside of 0x, which has enjoyed price spike due to the listing of Bittrex and South Korea's second
largest cryptocurrency exchange UpBit.