Over the past 7 days, the FS CryptoFX Agg Index decreased by 6.5%, compared with a 0.6% increase for the S&P 500 (Slide 6). Amid rising coronavirus fears and the oil price war between OPEC and Russia, Bitcoin’s price tanked 5.3% over the past week. Primarily due to the global asset class sell-off, the correlations between Bitcoin and other asset classes have increased.

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Despite the price decline, Bitcoin showed resilience and outperformed all other sectors (Slide 12). The laggardship of FS CryptoFX Platform and Privacy indices persisted as both indices declined 8.7% and 12.7%, respectively.

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South Korea taking steps to improve regulatory clarity Last Wednesday, South Korea introduced new legislation to improve KYC and AML monitoring for cryptocurrency transactions. The laws would require exchanges, wallet providers and custodians to partner with approved banks to verify customer information and ultimately link virtual wallets to traditional bank accounts. If instituted, these regulations would officially bring cryptocurrency operators under traditional laws and eliminate a number of the regulatory grey areas; an overall positive for long term adoption.      While this legislation could provide clarity for players within South Korea, it could al...

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