Japan proposes limit on leverage, Binance enters South Korea, Hitachi trials blockchain, Vietnam asks to stay away from crypto, various markets have mixed feelings
- The Japan Virtual Currency Exchange Association (JVCEA) has proposed a cap on the maximum leverage offered by exchanges for margin trading.
- Binance is preparing to expand into South Korea, having already hired Koreans for some local positions. The exchange is reportedly waiting for the country’s crypto regulatory framework to be fine-tuned before actually launching.
- Tech conglomerate Hitachi and teleco giant KDDI are testing a blockchain-based system that can settle retail payments validated using shoppers' fingerprints.
- The State Securities Commission of Vietnam (SSC) has required local businesses not to engage in transactions with cryptocurrencies. The announcement follows a directive issued by the country’s prime minister earlier this year aimed at tightening what Vietnamese regulators call the management of crypto activities.
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- We have just seen a Bitcoin clear break above the key psychological level of $8,000. Stock markets are displaying very clear mixed emotions at the moment. On the one hand there are fears about the ongoing trade war and the Fed’s tightening of monetary policy and on the other hand, corporate earnings are going well.