#CryptoCorner; Kraken Closing in Japan, IMF Managing Director Praises Crypto and Market Maintains Recent Gains
#CryptoCorner; Kraken Closing in Japan,
IMF Managing Director Praises Crypto and Market Maintains Recent Gains
Point Roberts, WA, Delta BC – April 17, 2018 - Investorideas.com, a leader in crypto and
blockchain investing news reports on what’s driving the cryptocurrency markets
with today’s edition of Crypto Corner.
Crypto
Corner – April 17, 2018
By Samuel Mowers at Investorideas.com
Kraken Closing in
Japan, IMF Managing Director Praises Crypto and Market Maintains Recent Gains
Cryptocurrency exchange Kraken has announced that
it will cease operations in Japan, according to a statement today.
The decision
came down to rising costs of business in Japan combined with the increased
expenses of Kraken’s expansion in the last few months. The statement claims
that Kraken is open to reopening in Japan once the company consolidates.
“The decision
involved careful consideration of revenue against the costs and resources
required to maintain service. Resources are an especially important
consideration for us at this time due to our exponential growth in recent
months. Suspending services for Japan residents will allow us to better focus
on our resources to improve in other geographical areas. After we have had a
chance to better catch up to our rapid growth, we will consider the possibility
of resuming service for Japan residents.”
Christine
Lagarde, the Managing Director of the International Monetary Fund (IMF),
accentuated the positives of cryptocurrencies in a recent blog post. Lagarde
encouraged lawmakers to allow for the “creative destruction” in this early
phase of the technology and predicted the possibility of a positive future for
crypto.
“Just as a few
technologies that emerged from the dot-com era have transformed our lives, the
crypto-assets that survive could have a significant impact on how we save,
invest and pay our bills. That is why policymakers should keep an open mind and
work toward an even-handed regulatory framework that minimizes risks while
allowing the creative process to bear fruit.”
The
cryptocurrency market has remained strong in the last 24 hours, gaining another
$10 billion USD for a total market cap of about $330
billion USD. Bitcoin (BTC) itself is still trading at around $8100 USD and at
press time accounts for 41 percent dominance of the market. All of the top 10
cryptocurrencies are in the green for the past 24 hours
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