Stablecoins Do Not Comply with FSA Regulations

Cryptographic regulations do not cover stablecoins, as the Japanese Financial Services Agency (FSA) considers it incorrect to regard them as cryptocurrency, reports Bitcoin.com.

Current legislation can be applied only to digital currencies, which are used as a means of payment. Stablecoins do not comply with legislation. Therefore, they do not fall under its influence and are not taxed.

Stablecoins are not the only virtual currency that is ignored by Japanese legislation and is not perceived as a full cryptocurrency. But despite this, digital currency that is associated with fiat is subject to the law. Operators of cryptocurrency exchanges that deal with such  currency are required to register with FSA.

We would like to remind you

Cryptocurrency Industry Got A Self-Regulatory Status In Japan

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The Crypto Market “Started Selling” Bitcoin by $4 500 by Black Friday or Top 5 Crypto-Services That Offer Discounts

What if it wasn’t collapse of the rate, but cryptocurrency market is preparing for the Black Friday? And it’s not an anti-record of the price tag of Bitcoin and other cryptocurrencies, but a huge discount? 🙂

All the news feeds are flooding with the information about “bad feeling” of the crypto market. Today, November, 20, 2018, the Bitcoin rate is hanging around the $4 500 mark, causing deep psychological trauma to the holders of cryptocurrencies. But, what if it is the time to rejoice and buy a cheap crypto ?

This is all, of course, “black” jokes on the grounds, that the world’s attention is focused within 2 events – the collapse of the cryptocurrency market and the upcoming Black Friday.

In order to lighten the spirits, The Coin Shark has collected top 5 trading platforms where attractive discounts to the Black Friday are already waiting for you.

1. Bitcoin Black Friday

The most popular crypto platform, where the massive sales of goods are held for Bitcoin on the Black Friday. The platform will start sales on November,23, 2018 at 00:00 UTC.

2. Overstock

This trading platform works constantly. It’s advantage is the opportunity to save up to 70%. On holiday sales, the founders of the platform, decided that they could give more to their users.  On Black Friday 2018, there will be discounts on goods up to 70%. For payment method they accept Bitcoin and other cryptocurrencies. 

3. TradingView

The website for monitoring cryptocurrency, gives to all traders a good opportunity to buy a powerful tool for research and analysing of the rate with a 60% discount on a Pro, Pro+ and Premium versions.

4. Crypto Asylum

The manufacturer of hardware wallets Crypto Asylum, decided to keep up with the “black tradition”. He will arrange the sale of his products with a 20% discount, on all of his products. The discount is given if you pay for your goods using Bitcoin cryptocurrency.

5. LEDGER

The manufacturer of the hardware wallet Ledger Nano S, is also not far behind from “the black trends”. It’s users will be given a 21% discount, if they place an order between Black Friday and Cyber Monday, which will be on November,26.

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Investors Lost $135 Million Due To OKEx’s Decision To Close BCH Futures Too Early

OKEx upset its customers once again, this time the crypto exchange cancelled their investments too early, as a result, they lost quite impressive amount of money – $135 million.

These investments include Bitcoin Cash futures; OKEx has implemented such investments recently, however, they were not approved by any regulated business.

The exchange took all the measures due to Bitcoin Cash hard fork last week:

“Due to the upcoming hard fork, strong volatility is observed in the BCH spot and futures markets. We expect an even greater volatility…The final outcome of the BCH hard fork is still unpredictable, and so are the responses of other constituent exchanges to the new forked coins.”

Nevertheless, the disruption happened and caused drastic drop in cryptocurrencies’ prices. The Hong Kong-based OKEx decided to deliver the contracts before their due dates. It caused losses to some investors. According to Bloomberg, Qiao Changhe, one fund manager, lost $700,000.

We remind you

Bitcoin Cash: Overview, Advantages and Disadvantages, Details of The Hard Forks

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A Communist Party Committee Will Be Opened Up in China by Huobi

As stated by South China Morning Post, one of the world’s largest cryptocurrency exchanges Huobi, more specifically, its filial, will launch a special Communist Party Committee. This is the first time a crypto or blockchain-related enterprise has done so.

The firm Beijing Lianhuo Information Office, owned by Huobi’s CEO, will now operate a communist division. There are two reasons for that: firstly, the law of China dictates that any company that has more than 3 members of the Communist Party as employees must have such a committee for promoting the Party; secondly, this will strengthen Huobi’s position on the legislative level.

This might be a very wise decision, taking into consideration the attitude of the Chinese government towards cryptocurrency.

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Crypto Doomsday: Ripple Conquers ETH, While Its Taking Last Breath

The crypto industry is currently suffering one of the largest downtrends in a very long period of time. Cryptocurrencies are not just falling in price, they are absolutely and totally collapsing.


What catches your attention, besides the fact that all coins are in the deep red zone? Yes, you are right, the 2nd place after Bitcoin, which has always been occupied by Ethereum, now belongs to Ripple. XRP only lost 2.89%, whereas Ethereum plummeted by almost 15%.

Though XRP did outrun ETH before, the previous time it was not a convincing victory, since the things quickly went back to normal. This time, however, many crypto specialists believe that XRP might be here to stay.

Actually, this is not the first recent change in the rating of top digital coins. We remind you:

Stellar Has Outrun EOS and Became the 5th Top Cryptocurrency

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Cryptocurrency Prices Today, November 20: BTC Collapsed below $4500, Bitcoin Cash Lost 44% of Its Cost

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) lost 15.72% over the past 24 hours. The price at the time of writing is $4505 per coin, but it remains quite volatile and decreases to the $4300 price point from time to time.

The rest of  cryptocurrencies are rapidly declining:

Bitcoin Cash lost 44% over the past 24 hours and costs $242 per coin;

Ripple minus 4.58% and costs $0.44;

EOS lost 14%, and its price is $3.69;

Litecoin fell by 14.37%, and its rate is $32;

Cardano lost 15.97%, and its value is $0.045;

Stellar dropped by 15.36% and is $0.19 in price;

IOTA decreased by 17%, and its cost is $0.41;

Dash lost 14.10%, and its price is $103;

Monero collapsed by 16.60% and costs $67.

Over the past day, Ethereum lost 16.15% and continues to decline in price. The cost of the coin is $133.

The total market capitalization dropped significantly to $145 billion. Bitcoin accounts for 53.6% of the total amount. In monetary terms, the volume fell to $78 billion.

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Poloniex Crypto Exchange Adds 6 USD Coin Trading Pairs

One of the major crypto exchanges in the world, Poloniex, decided to implement six more trading pairs which include Goldman Sachs-backed stablecoin USDC.

Users can trade the following trading pairs since November 16:

XRP/USDC
XMR/USDC
STR/USDC
DOGE/USDC
LTC/USDC
ZEC/USDC

Moreover, Poloniex claimed in its blog post that it had become the first crypto exchange to offer users the ability to trade tokens linked to Bitcoin Cash (BCH): Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC).

We want to remind you that such crypto exchanges as OKEx, Huobi, BitPay, Coinbase, Binance have already listed USDC stablecoin on their listings.

The Stablecoins: What Is It and Why Is It So Popular Now?

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