03.09.[News of the day] • Crypto exchange Bithumb allegedly prohibits trading for foreigners without a mobile KYC • and other articles

Welcome to today’s overview of crypto newss:

MARKETS

The primary cryptocurrency experienced a lot yesterday. After several days of price declines, falling to $ 46,300, the asset set off. It added $ 4,000 in about 24 hours, and climbed above $ 50,000 for the first time since last Monday. However, as in the past – failed to stay above this value for a long time. On the contrary, the bears strengthened and pushed BTC south to a daily low of around $ 48,400

Altcoins have fared better than BTC in recent weeks, as evidenced by BTC’s declining dominance. For example, ETH dropped to $ 3,100 a few days ago, but has risen by more than 22% since then.

BTC analysis – price continues in sideway structure, dominance falls

Cryptocurrencies

Whales have moved more than $ 4 billion in BTC, while drops to $ 48,500

According to the Whale Alert, large holders of cryptocurrencies, the so-called whales, six large BTC transfers in the last few hours, carrying an average of 13,500 BTC.

Each of these transfers, according to data provided by the popular cryptocurrency monitoring service, was made by Binance Exchange and the funds were transferred between its internal wallets. The total amount of BTC transferred is 81,556 coins, which equals $ 4,026,607,298.80.

On September 2, the flagship cryptocurrency BTC managed to break the $ 50,000 mark. Previously, this price limit was reached on August 23 and before mid-May. This time, however, BTC failed to fix above $ 50,000.

Solana reaches a new all-time high when a sales signal appears

Solana seems to be approaching exhaustion. A Wall Street business indicator shows that one to four day candles may be corrected before SOL continues to grow. The seventh largest cryptocurrency by market capitalization has gained more than 20 percent in the last 24 hours, reaching a new all-time high of $ 146.38.

From a technical point of view, it seems that the recent bull impulse came about after Solana stepped out of a symmetrical triangle on her 4-hour chart. The height of the y-axis of the shape was added to the puncture point, indicating an increase of 24.70%. Now that the goal has been met, SOL could head back.

Japan’s SBI Holdings has announced plans to launch a crypto fund by November

Another positive step for the Japanese crypto industry is the announcement of the financial group SBI Holdings Inc., which according to a report by Bloomberg plans to launch a crypto fund in the country by the end of November.

Referring to Tomoy Asakura, president of SBI Morningstar Japan KK, Bloomberg said the fund could grow to several hundred million dollars invested in BTC, Ethereum, XRP, Bitcoin Cash, Litecoin and others. A fund that is primarily aimed at investors who understand the risks of cryptocurrency trading may require a minimum investment of approximately $ 9,000 to $ 27,000.

Banks, crypto exchanges, companies

Crypto exchange Bithumb allegedly bans foreigners without a mobile KYC

The South Korean crypto exchange Bithumb allegedly announced a ban on entry for foreigners who have not completed a telephone verification of Know Your Customer (KYC).

According to local Pulse news, non-Korean citizens using the Bithumb crypto exchange will be subject to mandatory mobile verification. Although the rule is said to take effect this year, the exact date of the new KYC request has not yet been announced. Referring to Bithumb’s announcement, The Korean Herald reported:

“Foreigners residing in Korea who are unable to process identification using a mobile phone cannot use the service.”

Shop.com now accepts payments in Bitcoin in cooperation with BitPay

The US-based e-commerce platform Shop.com is the latest site to accept cryptocurrency payments.

The company, owned by Market America, has announced a partnership with crypto payment service provider BitPay, which will allow it to accept payments in several cryptocurrencies, including BTC.

The new partnership allows Shop.com users to select BitPay when paying and pay through their cryptocurrencies. Currently, users have the option to pay using BTC, Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), Litecoin (LTC) and also five USD stablecoins.

CBDC, Regulation

The Nigerian securities regulator is setting up a fintech department for the study of cryptocurrencies

In 2021, financial institutions operating in Nigeria became the lever of government intervention against cryptocurrencies, starting with the notorious ban on the central bank for creditors providing services to crypto exchanges in the country in February. Given that much of the Nigerian cryptocurrency market is peer-to-peer, the Nigerian Securities and Exchange Commission (SEC) is now working to introduce regulations that could regulate the industry and offer better protection to investors.

According to a September 2 report, the SEC has set up a specialized fintech department to study crypto and blockchain investments and products, which could be used in the future crypto regulatory framework. CEO Lamido Yuguda told Reuters this week that the agency is “looking closely at this market to see how it can bring in regulations that will help investors protect their blockchain investment.”