Ripple latest News Update - April 2017
Recently, At a conference in South Korea, leaders of the country’s cryptocurrency exchanges, Tony Lyu, CEO of Korbit; Myunghun Cha, CEO of Coinone; and Junhaeng Lee, CEO of Gopax.— All these exchanges hold almost more than 47% of XRP trading activity—said that they are moving towards the self-regulation before korean government officials can start taking a strict regulation approach.
The move is incredibly important for Ripple considering the trading volume coming from these South Korean exchanges alone.I am sure that you have not forget the rumors about a cryptocurrency ban drove XRP prices down by more than 50% earlier this year, which eventually started a the months-long bearish trend in the market and still continued.
Added the Ripple price graph to take a deep look into price since may, 2017
Korean officials regulators ultimately changed their mind from a full-scale ban; to halting ICOs, enforcing anti-money laundering laws to control anonymous cryptocurrency trading. But for the exchanges message was loud and clear: Clean up your act, or we’ll do it for you.
Now you are thinking why I am taking this so serious, Here is the ultimate reason:
Moving towards this private-sector solution for Korea’s crypto market is good news for Ripple and other cryptocurrencies. It indicates that Rippe [XRP] will carry less political risk than it was in last weeks. And as discussed things progress and we will experience more secure and customer centric approach from exchanges, we will see XRP prices moving towards past heights and creating new milestones.
