Ripple News Update
This week, tax authorities (and in some cases, police officers) investigated South Korean cryptocurrency exchanges on claims of money laundering. At the same time, the Korean government considered a bill to impose strict rules on crypto trading within the country.
I think you can guess the impact on crypto prices…
Everything is in freefall. Ripple prices are particularly hard hit, falling 12.86% against the U.S. dollar, and bringing the XRP to USD rate down to $1.70.
From my preliminary analysis, investors are bracing for another Chinese-style cryptocurrency ban. This would sever all conversions from local fiat currency to crypto coins, but would.
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