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Crypto Corner: #Coinbase Exploring Offering More Coins Including XRP and Malaysia's Central Bank and Securities Regulator to Collaborate on Digital Asset Regulation

December 7th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch

 

Point Roberts, WA and Delta, BC - December 7, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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Crypto Corner: # Coinbase Exploring Offering More Coins Including XRP and Malaysia's Central Bank and Securities Regulator to Collaborate on Digital Asset Regulation

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Crypto Corner

Further Crypto Carnage Ensues, Coinbase Exploring Offering More Coins Including XRP and Malaysia's Central Bank and Securities Regulator to Collaborate on Digital Asset Regulation

The market has continued to deteriorate overnight with total market capitalization having dropped from $117 billion USD at the time of yesterday's Crypto Corner, to just $105 billion USD at press time, according to CoinMarketCap. Predictably, this means that most major coins are firmly in the red, with many experiencing double-digit losses. Surprisingly, Bitcoin SV, the loser of the recent hash war, has overtaken the victorious ABC (BCH) version.

Mati Greenspan, Senior Market Analyst at eToro, addresses the formulation that Bitcoin's (BTC) break below $6000 is the result of a series of promotions by South Korean exchange Bithumb. Greenspan said:

"If these findings are indeed accurate, I would say that blaming South Korea for the drop wouldn't exactly be correct. More likely, it appears that the volume promotion by Bithumb caused several months of stabilization in prices, to begin with.

Of course, it's just a theory at this point. True or not, we maintain that all of the recent volatility in the crypto markets has been driven by technical factors. After the breakout of $5,000, we mentioned light support at $3,500, which has now been broken. The next key area of support that is being tested now is $3,000."

Coinbase revealed in a blog post today that they were exploring support for new digital assets, most notable the second-biggest by market cap, XRP. The post explains Coinbase's aim of making as many compliant assets available to users as possible.

Coinbase's goal is to offer support for all assets that meet our standards and are fully compliant with local law. Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap.

Malaysia's central bank and securities regulator have issued a joint statement concerning the regulation of digital assets. According to the release, both the Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM) will collaborate to regulate digital currencies and tokens.

Sam Mowers, Investorideas

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Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (<NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/

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