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#CryptoCorner: Japan's Self-Regulatory Body Imposes Maximum on Trading Volumes, South Korean Exchanges May Lose Beneficial Tax Status, Gallup Poll Shows Only 2% of US Investors Own #Bitcoin and Gibraltar United Adopt #Crypto

July 30th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD)

 

Point Roberts, WA and Delta, BC - July 30, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.

Listen to today's Crypto Corner Podcast:

http://www.investorideas.com/Audio/Podcasts/2018/073018-CryptoMarket.mp3

#CryptoCorner: Japan's Self-Regulatory Body Imposes Maximum on Trading Volumes, South Korean Exchanges May Lose Beneficial Tax Status, Gallup Poll Shows Only 2% of US Investors Own Bitcoin

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Crypto Corner

Japan's Self-Regulatory Body Imposes Maximum on Trading Volumes, South Korean Exchanges May Lose Beneficial Tax Status, Gallup Poll Shows Only 2% of US Investors Own Bitcoin and Gibraltar United Adopt Crypto

As we begin a new week the crypto market has remained relatively stable over the past few days. Our last installment on Friday saw the price of Bitcoin (BTC) dip below $8000 USD to around $7850 USD, following the SEC's rejection of the Winklevoss brothers' proposed Bitcoin ETF. The market made a comeback later that day and has been sitting above $8000 USD since, trading at $8153 USD at press time according to CoinMarketCap. The total market cap is around $294 billion USD.

The Japan Virtual Currency Exchange Association (JVCEA), a self-regulatory crypto body, will impose maximum trading volume limits on its member exchanges, according to a report from Cointelegraph. Supposedly this move is being done to protect "small asset" traders from suffering heavy losses.

CoinDesk reports that crypto exchanges in South Korea may lose access to tax cuts currently afforded to them due to a proposed change in the country's tax laws. Currently crypto exchanges are classified as either startups or small and medium enterprises (SMEs), both of which can afford them deductions of 50-100 percent of their income tax and corporate tax within their first five years in operation. However the inclusion of crypto businesses in this category is being criticized thusly: "cryptocurrency transaction brokerage is not effective in generating added value."

A recently published Gallup poll reveals that just 2 percent of U.S. investors own Bitcoin. Additionally, only 26 percent are intrigued by it, with the remaining 72 percent having "no interest in ever buying bitcoin". The data indicates that people are averse to cryptocurrencies mainly due to their riskiness.

Football (soccer) team Gibraltar United plans to pay players in cryptocurrency, according to a report in the Guardian. Team owner Pablo Dana, who invests in cryptocurrency Quantocoin (QCTC) explained why Gibraltar is ideal for the adoption of crypto:

"It was the first [place that] regulated betting companies 20 years back, when everyone was seeing them as horrible. They put compliance and anti-money laundering regulations and created a platform - they have the intelligence to do the same with cryptocurrencies."

Sam Mowers, Investorideas

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Crypto Corner Sponsor:

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