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January Crypto-Slump Continues With Some Bright Spots Tuesday Evening

Written by:

Guest

Published on:

Jan/16/2018

Nearly all of the top 68 cryptocurrencies have witnessed a decline during the month of January with some bad news hitting hard Tuesday as South Korea regulators consider banning exchange trading and while rumors of banks blocking cryptocurrency charges were running rampant. Scroll Down

Bitcoin reached a peak of $19,600 last December and, at one point during the day Tuesday, dipped below the $12,000 mark.

At least one bank, Capital One, confirmed it will be blocing crypto charges.

Reports of Metropolitan Bank Holding Corp (NYSE: MCB) refusing crypto charges proved eronious however.

Fortune claimed the bank was not processing international wire transfers tethered to cryptocurrencies.

Metropolitan Bank responded:

“As a matter of policy, the bank does not accept cryptocurrency-related wire transfers from non-U.S. entities,” explains Metropolitan executive Edward Nebb. “This is a long-standing policy of the bank and remains in effect today — Last week, the bank sent out a reminder to customers of its policy against accepting cryptocurrency-related wire transfers from non-U.S. entities.”

Another bright spot in an otherwise dismal day, Japan's largest bank announced it will be launching a crypto exchange.

From Bitcoin.com News:

As bitcoin trading becomes the new mainstream in Japan, leading financial firms are stepping in to offer services to preserve their market share. MUFG, the largest bank in the country, is now planning to launch its own exchange, a pegged cryptocurrency and bitcoin segregated accounts for clients of other exchanges.

- Aaron Goldstein, Gambling911.com

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