Bitcoin made its trade near 3.7 % lower on Tuesday morning. The pricing was around $45798 per coin. The rivals like Ethereum and Dogecoin were trading near $3165 and at 32 cents per coin, respectively.
Bitcoin has failed to break its $50000 mark during the weekend. However, it has shown signs of profit-making in the beginning in the short term.
The bitcoin by market cap is now down by 2.5% over 1 day, as the Coindesk data shows. But bitcoin is up 56% with its year-to-date return. The price of bitcoin has steadily risen from $38000 to $ 48190 on Saturday.
On the other hand, news shows that a move by South Korea is aiming to appease the financial regulators. The operator of the largest exchange in South Korea by trading volume is now rolling out an anti-money laundering solution, as Coindesk reports.
Lamda 256 is the blockchain technology research arm of crypto exchange Upbit. Upbit’s operator Dunamu has recently launched its VerifyVASP solution for the exchange trading activity in Singapore.
South Korea will also see the travel rule solution of Dunamu, which is being rolled out to Upbit next month. The rule, which started in 2019 is applying to all virtual asset service providers. It is getting enforced by the Financial Action Task Force. FATF is an intergovernmental watchdog for money laundering. It needs the crypto companies to share the information which is personally identifiable for the transactions which are above a certain amount.
In Spain, the National Securities Market Commission is getting an issued warning notice for at least 12 companies. It includes crypto exchange sites like Bybit and Houbi, which have failed to register with the authorities while offering investment services.
The warnings do not mean that the exchanges will get banned from the country. But Spain’s SMC only has the administrative powers which would need to make a formal appeal to the justice system for the sanctioning of the firms, as its website says.
This warning is meant to alert the operators, and the consumers, as the CriptoNoticias reported.