Crypto Markets News 

Litecoin Price Surges by 10% Again to $300 as Demand Skyrockets

“Over the past 24 hours, the Litecoin price has surged by nearly 10 percent, increasing from below $270 to $300” writes unknown author for cryptocoinsnews.com. At the time of reporting, the price of Litecoin remains above $300. “I would be happy if Litecoin stays at around $300 by the end of next year.The statement of Lee came after the price of Litecoin increased by nearly five-fold since November.On CNBC’s Squawk Box, Litecoin creator and former Coinbase executive Charlie Lee stated that he would be satisfied if the price of Litecoin…

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Crypto News 

South Korea Seeks Measures to Curb Bitcoin Frenzy

“Separately, Woori Bank and Korea Development Bank will shut down virtual accounts offered to cryptocurrency exchanges before year-end, according to the banks” writes Kyungji Cho Shinhye for bloomberg.com. Korea premium is down to about 3% from about 30% last week South Korea will restrictively allow cryptocurrency trading on only qualified exchanges and review a possible capital gains tax on crypto trading as a way to restrain the nation’s frenzied speculation.Monthly cryptocurrency trading volume on South Korea’s largest exchange Bithumb surged to 56 trillion won ($51 billion) in November from 305…

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Crypto Futures News 

Bitcoin margins raised by CME in preparation for volatility

“The CBOE and CME availability of bitcoin futures was seen as a major step for the cryptocurrency, giving traders access to bitcoin through regulated exchanges, with the exchanges implementing their trading rules and regulations, such as margins and circuit breakers, on their bitcoin futures contracts” writes Leia Klingel for foxbusiness.com. The CBOE was the first U.S. exchange to offer bitcoin futures.The CME has increased its margin requirements for bitcoin futures to 43% ahead of the launch, up from 35%. “Margins for CME bitcoin futures are being increased to 43% for…

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Crypto News 

Indian Tax Authorities Visit Bitcoin Exchanges Across the Country

“The Income Tax Department of the Indian government has reportedly swooped in on nine bitcoin exchanges to look into alleged tax evasion” writes unknown author for cryptocoinsnews.com. The swoop is seen as the first major operation by Indian tax authorities against bitcoin exchanges, coming at a time when bitcoin prices continue to break record highs – up over 1,700% since the turn of the year. CCN has reached out to multiple bitcoin exchanges in India for comment.Earlier this year, major Indian bitcoin exchanges launched a self-regulatory body to standardize AML…

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Crypto News 

South Korea to Allow Bitcoin Exchanges, Under Six Conditions

“Joyce Kim, co-founder of payment network Stellar, announced in a Twitter message that the South Korean government has finally decided not to ban Bitcoin exchanges, citing South Korean news source Daum” reports financemagnates.com. The three biggest exchanges, Bithumb, Korbit and Coinone, are among the largest in the world. Source: financemagnates.com Share This:

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Crypto Futures News 

Bitcoin futures fall on second day of trading on very low volume as interest wanes

“Cboe’s bitcoin futures launch comes a week ahead of CME’s own product in a race by major exchanges to launch bitcoin derivatives” writes unknown author for cnbc.com. Bitcoin futures fell in low volume Tuesday in their second day of trading on the Cboe Futures Exchange.The digital currency has surged about 1,700 percent this year as investor interest has grown despite criticism that bitcoin is in a bubble.The Cboe bitcoin futures, listed under the ticker XBT, traded about 0.8 percent lower near $18,400 after earlier falling more than 3.5 percent.Bitcoin itself…

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Crypto News 

South Korea Forbids Bitcoin Derivatives as Exchanges Charge 23% Premium

“The massive discrepancy between prices on Korean exchanges and those based in the US prompts a response from the government” reports financemagnates.com. South Korean exchanges have been charging substantially higher prices to purchase the digital currency when compared to other nations.Earlier today, Finance Magnates reported that Bulgarian banks cracked down on local exchanges. Source: financemagnates.com Share This:

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Crypto News 

Bulgaria Cracks Down on Bitcoin, Bans Accounts of Domestic Exchanges

“After the accounts of the exchanges were frozen some of them continued operating with alternative payment systems, however at the time of publication trading on Bulgarian exchanges is suspended” reports financemagnates.com. First Investment Bank is cited as the one that acted on blocking the accounts of several local exchanges, including crypto.bg, cryptobank.bg and cix.bg.Bulgarian banks have banned bank access to the websites and are preventing them from transferring funds to foreign exchanges. Source: financemagnates.com Share This:

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Crypto News 

Bitcoin is getting pounded after a wild week of gains

“LONDON – The price of bitcoin has dived below $15,000 during morning trade in Europe on Friday” writes Finanzen Net Gmbh for businessinsider.com. Following a week of wild gains, in which the cryptocurrency rose in value by more than $5000, it seems as though investors may be taking stock, with some cashing out.Its exponential rise in value, however, isn’t simply due to the impending arrival of institutional investors.The latest bull run began in earnest at the end of October when CME Group, the world’s biggest exchange operator, announced plans to launch…

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