🔥South Korea not banning cryptocurrency, Ripple (XRP) signs deal with with MoneyGram


Harry here from Crypto Finder bringing
you all the latest news in crypto. Now todays first story comes from South
Korea where if you’ve been following the crypto industry recently you would have
heard the news overnight that the country is considering banning cryptocurrency trading now this came out of the Justice Minister Park Sang-ki’s
office where he said that they will be putting forward a bill that would see
that the cryptocurrency industry banned in the country. Now this has sent the
market into absolute freefall ever since you can see here on this chart that
around what just as soon as it gets announced the market drops by about US$70
billion in just a couple of hours now this is started to recover
ever since especially after the news that the from the South Korean Prime
Minister’s office that they weren’t definitely considering banning cryptocurrency it’s simply one option the government is looking at to try and
regulate the industry at the moment the government has massive fears around the
speculative nature of it wondering that you know with so much of the young
population investing their money if it crashed what it would do to the economy,
there’s tax evasion issues, there’s a whole bunch of things that the
government’s are worried about so this is when you hear someone say the South
Korean government is banning it they’re not it’s just an option that they’re
considering and even then it looks like it’s going to be an unlikely one. Now our other news this morning comes from Ripple now Ripple’s had a big few
weeks its price has gone up it’s come back down again and one thing that could
see it moving in is that sign it to you with MoneyGram. Now MoneyGram is a
popular international currency transfer firm and so it says it’s going to use
Ripple’s XRP as part of a new Ripple x-rapid program to transfer money quickly
now MoneyGram is currently used in many
places across the world to try and send money back home usually
from places such as Africa and Southeast Asia so if this picks up it
could be quite a big deal for Ripple so that’s worth keeping an eye on too. Now
today’s currencies I wanted to look at a sort of smaller market cap ones there’s
one called the NAGA coin not quite sure how to pronounce it
the NAGA coin this is a currency that wants to
dominate the online gambling industry except it’s done something quite
interesting which you haven’t seen many tokens do so while it’s
priority is to dominate the online gambling industry it’s actually also in
the last day announced that it’s going to release or in the last week it’s
announced it’s going to release a NAGA Mastercard to be able to spend your
currency as well as other cryptos in the fiat world so usually you’ve seen you
know complete loan businesses try and do this is the first time and I
can sort of think of where I’ve seen a cryptocurrency token itself that doesn’t
focus on those payments use their own card so people who invest in the
currency if they don’t want to just use it in the you know that the gambling
space like it’s like it’s been pitched for they can also use in the real world
you can see here in these charts that you know when this was announced and and
it also coincided with the announcement it’s going to go on a
second exchange the OKX exchange at the moment its only on Hit BC but social
traffic has exploded almost 500% in the last 24 hours since then and as a result
the price is up 40% yes so jumping up 40% after that news.
So this could be one to keep an eye on it’s taken an interesting tactic
so it’ll also be interesting to see if other types of tokens take a similar
route to try and get people embracing their token. And finally there’s another
coin called SolarCoin that’s had quite a rise in the past few days it’s
up 15% in last 24 hours and in the last week it’s had a few social spikes now
SolarCoin basically rewards you in this coin for the solar power so it’s paying
you for solar power in this coin now this has become quite a topic in the
last few days considering that China is looking to ban
cryptocurrency mining and that you know of course cryptocurrency mining
uses quite a lot of electricity so as that’s come through and people are
trying to work out how to solve this crypto mining problem where you know
electricity is expensive outside of these hydroelectricity plants that many
miners in China are using what can you use so the SolarCoin in the last
few days is done really well to try and pitch itself as a potential solution and as a result it’s you know it’s had lots of
interest online it’s had you know it’s price gone up and this will probably
continue for a little bit until we try and work out a definitive solution for
what’s gonna happen if China does ban cryptocurrency mining and that’s news
for today guys thanks to joining in, hit the subscribe button, give us a like and
we’ll see you tomorrow!

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