The cryptocurrency markets ended the week on a high note following Korea’s ICO ban, indicating that, at least for now, traders are not worried about the government’s posture toward cryptocurrency. The markets were buttressed by positive news from the Japanese government, enabling the ethereum price to climb to $300 and the bitcoin price to approach $4,300.
Earlier this week, Korean regulators announced a ban on initial coin offerings (ICOs). While some reports indicated the prohibition was a blanket ban — such as the one enacted by China — residents still appear to be able to contribute to foreign ICOs and trade for those tokens on exchanges. Consequently, news of the ban only had a minor effect on the markets, and they quickly recovered from that dip.
Hastening the recovery was an announcement by Japan’s Financial Services Agency (FSA) that 11 Japanese bitcoin exchanges — including bitFlyer, one of the highest-volume bitcoin exchanges — had received licensure to continue to operate within the country. Japan has positioned itself as a central hub within the Asian cryptocurrency ecosystem, and this announcement reaffirms that the country will play a prominent role moving forward.
Source:
https://www.cryptocoinsnews.com/ethereum-bitcoin-prices-end-week-high-note/
