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South Korea Overtakes China As Bitcoin's Third-Largest Market

September 22, 2017 - 10:10am
South Korea Overtakes China As Bitcoin's Third-Largest Market

China-based digital currency exchanges have until the end of September to cease operations after Chinese authorities, spooked by the ICO craze, decided earlier this month to crack down on all exchange-based digital currency trading.
Trading volume in China has fallen dramatically since the country’s exchanges briefly halted withdrawals earlier this year as they implemented new AML controls. Now, it appears that at least some of those displaced by China’s crackdown have migrated to South Korea, which today overtook China as the third-largest market for bitcoin trading by volume.

China Warns Trump: "We Will Back North Korea If The US Strikes First"

September 10, 2017 - 12:35pm
China Warns Trump: "We Will Back North Korea If The US Strikes First"

All day Saturday, South Korea braced for a possible new missile test by North Korea as the provocative northern neighbor marked its founding anniversary, just days after its sixth and largest nuclear test rattled global financial markets and further escalated tensions in the region. Throughout the week, South Korean officials warned the North could launch another intercontinental ballistic missile, in defiance of U.N. sanctions and to further provoke the US. As Reuters reports, Pyongyang marks its founding anniversary each year with a big display of pageantry and military hardware.

US Braces For ICBM Test As North Korean Holiday Begins

September 9, 2017 - 7:35am
US Braces For ICBM Test As North Korean Holiday Begins

It is now Sept. 9 in North Korea, meaning the country’s celebration of the 69th anniversary of the creation of the North Korean state has officially begun. Last year, the country celebrated its 68th anniversary with its fifth nuclear test. This year, the US and South Korea are anticipating another demonstration of military strength from the isolated country – most likely another missile test.

All Eyes On Draghi: Futures Flat, Euro Surges, Dollar Slides; Yuan Breaches 6.50

September 7, 2017 - 8:56pm
All Eyes On Draghi: Futures Flat, Euro Surges, Dollar Slides; Yuan Breaches 6.50

S&P futures are flat, still spooked by the WSJ's report that Gary Cohn will not be the next Fed chair, while both European stocks and Asian shares gain in a overnight session on edge in which everyone is looking forward to today's main risk event: the ECB meeting and Draghi press conference due in under two hours. The dollar continued to weaken against most G-10 peers as tensions over North Korea, concerns over Stan Fischer's resignation and the increasingly cloudy Fed outlook outweighed positive sentiment from the US debt ceiling extension.

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