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The cryptocurrency world is finally starting to look beyond Bitcoin. This is definitely the case in Japan, where a consortium of domestic banks have announced a new mobile app that will allow customers to make payments using the cryptocurrency ripple. In this article, we’ll take a look at what this move could mean for the value of ripple and the acceptance of cryptocurrencies as a means of exchange. What does major bank backing mean for crypto currency value? Put simply, the backing of major financial institutions will increase demand for any cryptocurrency which should, in theory, increase the value of that currency since...

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South Korea is considering adopting an approval system for crypto exchanges based on New York’s BitLicense system, local news outlet BusinessKorea reports. BusinessKorea writes that it is unlikely any final decision will be made until after the June 2018 elections in the country. A government official spoke to them about the option as part of a virtual currency taskforce: “We are positively considering the adoption of an exchange approval system as the additional regulation on cryptocurrencies. We are most likely [to] benchmark the model [against that] of the State of New York that gives a selective permission.” BitLicense is a license to operate a virtual...

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