This move comes in response to the strict regulatory measures that the Japanese regulatory FSA has recently introduced.
PBoC’s latest patent of the Digital Wallet hosts some interesting features to hold cryptocurrencies while maintaining high-end security.
Under the new policy, cryptocurrency companies will be allowed to advertise only after their credentials are verified.
The upcoming regulations will be focused towards establishing a transparent and secure process for crypto trading activities to take place.
The Japanese government suspects several trading accounts of individuals making huge crypto transactions to be used for money laundering and terror financing.
South Korean government is currently said to be studying crypto tax structures as implemented in other countries like Japan and the U.S.
Hoskinson believes that as the regulatory air around the crypto market gets clear, institutional investors will pump huge amount of money in the crypto space.
The blocked accounts are allegedly said to be belonging to thieves who have likely stolen funds through frauds and phishing attempts.
The overhaul of its RTGS payment settlement systems will let private players using blockchain to easily interface with the platform.
Bitcoin and overall Crypto market break crucial resistance levels with FUD getting a solid grip on the market.