Japan is on the right track when forcing the crypto exchangers/wallet providers to beef up security and hire more people based on the number of growing transactions coming into the major outfits in that country. Also report any suspected money laundering transactions.
Bithumb in South Korea just got hacked overnight for over 31 million dollars so that beefs up Japan's concerns about protecting people's cryptos.
Looking at Bitcoin from a bird's eye view, there's uncertainty playing a role in the coin currently between ... will there be another decent bull run or will the sell off continue? And will it ever go beyond the range it's at now? Some folks that were committed to 'hodl', no doubt cave and sell adding to a 'Bear' fall in value.
Along with that is the risky pull from the new coin startups that plays on a person's mind. Such as, Bitcoin is not moving much these days and got info on this new coin ICO that could sky rocket, which means a lot of cash before it peaks. Sell or not?
Meanwhile, advances in the blockchain tech behind digital coins continues, looking for more speed, less fees and bring down the huge suction on power grids that Miner Rigs need. Solar panel/storage battery outfits are more in the news these days.
Quebec Power for example, has stopped accepting applications from Crypto Miners where the current setups are drawing more power than they initially anticipated. A world wide issue where Miners are operating.
Ouch! Bitcoin has fallen a $1000 USD since last week when it was up around $7700 USD.
Looks like the cause could be another major hack and millions worth gone in coins. Kind of a monthly thing lately where an organized 'Black hat' group or person finds a backdoor in or a breakable code and millions richer. On average, with some of the valuable digital coins out there ... stolen on a steady basis is up around 52%. Security for many exchangers and sites is low on the expense list when they are making oodles of cash.
In Canada, a blueprint for crypto regulation has been drawn up and this is the jest of it;
The new regulations will treat crypto exchanges and payment processors as money service businesses (MSB), which requires them to report large transactions — those over $10,000 Canadian dollars ($7700 USD) — and a new Know Your Customer (KYC) threshold set at transactions of $1000 CAD ($770 USD).
The benchmark for the major crypto currencies, Bitcoin is bouncing around from the low to mid $7000 USD since June came in. Currently there is a lot of 'coding' going on with a few outfits out there (with the money to back them up) to develop faster, cheaper but remain secure .... blockchain platforms. Great for users who want transactions completed yesterday.
Meanwhile, with low trading compared to the past, transaction fees remain low and a fairly good rate of speed to complete is a good thing in a world of 'I want my money sent or received yesterday'.
After the first few days of May, the overall crypto market took a dive except for a couple newer coins introduced to the trading/exchange sites.
So far this month, Bitcoin is making a slow rise passing the $7500 USD mark.
Lots of news in the background with crypto's, ICO's and blockchains but with Bitcoin, the coin is sort of in that 'no man's land' for the past few days. Will it will fall further or begin to climb in value? The last two days ... about a $100 gain each day so far.
In the stock market, that would be a crazy climb that regulators would look into right away for any foul play but in Bitcoin world, normal with a mild fluctuation.
The programs and companies I present on my site have no guarantee of producing a profit for members involved. It's always wise to follow the Golden Rules of investing such as setting aside funds for 'investment' account(s) separate from household and family money.