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#CryptoCorner: #Bithumb to Resume Account Registrations, China #Crypto Crackdown Spreads to Guangzhou, #Square (NYSE: $SQ) Patent Approved and North Korea Tried Crypto Mining

August 29th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and #AI, #IoT, #Blockchain, #Crypto Technology Company Gopher Protocol (OTCQB: $GOPH) and Genesis Exchange and Wallet App

 

Point Roberts, WA and Delta, BC - August 29, 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.

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http://www.investorideas.com/Audio/Podcasts/2018/082918-CryptoMarket.mp3

#CryptoCorner: #Bithumb to Resume Account Registrations, China #rypto Crackdown Spreads to Guangzhou, #Square (NYSE: $SQ) Patent Approved and North Korea Tried Crypto Mining

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Crypto Corner

Bithumb to Resume Account Registrations, China Crypto Crackdown Spreads to Guangzhou, Square Patent Approved and North Korea Tried Crypto Mining

The crypto market has held strong and maintained market capitalization above $7000 over the past day. At press time the total market cap is $231 billion USD, according to data from CoinMarketCap. Bitcoin (BTC) is trading at $7090 USD but at various points in the last 24 hours has broken past $7100 USD. All of the the top ten cryptocurrencies are in the green.

South Korean crypto exchange Bithumb is reopening account registrations after a month of suspension, according to local outlet Yonhap News. Bithumb, the fifth largest crypto exchange in the world, lost support from Nonghyup Bank after being hacked in June. Both Nonghyup and Bithumb have concluded a contract renewal, however.

Over in China, the government is continuing its recent crackdown on crypto activity by extending prohibition to Guangzhou. The South China Morning Post reports that the Guangzhou Development District has issued a notice to ban promotional events dealing with cryptocurrencies. The issue cites "maintaining the security and stability of the financial system". This follows a similar ban in Beijing's Chaoyang District on August 17.

CCN reports that digital payments company Square (NYSE: SQ) has won a patent, first submitted in September 2017, for a payment network that enables users to pay using any currency, including crypto. The following is an excerpt from the patent:

"The disclosed technology addresses the need in the art for a payment service capable of accepting a greater diversity of currencies...including virtual currencies including cryptocurrencies (bitcoin, ether, etc.)...than a traditional payment system in a transaction between a customer and a merchant, and specifically for a payment service to solve or ameliorate problems germane to transactions with such currencies. Specifically, the payment service described herein can facilitate real-time (or substantially real-time) transactions, allowing a customer to pay in any currency of their choice, while the merchant can receive payment in a currency of their choice."

Yonhap News reports that North Korea seems to have tried small scale crypto mining. South Korea's Korea Development Bank (KDB), who compiled the research, also found that a North Korean tech company called Chosun Expo is developing and selling a market-exchange platform for bitcoin. This follows news that North Korea plans to host a blockchain conference in October.

Sam Mowers, Investorideas

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