Crypto Weekly (Sept. 18th, 2019)
Sep 18, 2019
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Weekly recap...
- OKEx Korea delisting all privacy tokens shows regulators tightening grip around crypto
- Hedera mainnet launch on 9/16; project valued at ~$5.3B (total supply)
- Watch for Bitcoin Misery Index to fall closer to 50 for better risk/reward profile
Center Story
1. Regulators are slowly wrapping their tentacles around pockets of crypto
OKEx Korea delisting all privacy coins on October 10th due to violation of Financial Action Task Force's "Travel Rule"
The chart in this report is only accessible to members
OKEx Korea (not its global unit) is delisting privacy cryptocurrencies from its exchange. This action does nothing to directly impact the operations or development of the project itself, but does show their vulnerability to legislative scrutiny.
Privacy focused cryptocurrencies and those which could be serious competitors to fiat currencies will likely see a lot more red tape coming their way. Libra, for example, received a cold welcome on the Hill in D.C., and European lawmakers have not been kinde (German and France openly oppose its existence).
What else to know (source: The Block)..."In June, the FATF, the global money-laundering watchdog, issued its final crypto guidelines, retaining “travel rule,” which requires exchanges to collect and transfer customer information during transactions. The information incl...