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Litecoin, OKEx, Bitfinex and more in Quick News


13,000 ATMs in South Korea may use Litecoin for withdrawals and remittances

The Litecoin Foundation announced a partnership with MeconCash to launch Litecoin (LTC) to withdrawals and remittances earned at 13,000 ATMs in South Korea.

The association will see LTC integrated in the payment platform
M.Pay of MeconCash. Litecoin will also be accepted as payment on the platform
MeconCash retailer, MeconMall, and to pay for games that accept rewards
from M.Pay.

According to CryptoCompare, the 24-hour trade between Litecoin and won produced almost $ 4.3 million in trade, which represents 0.82% of total trade at the time of publication.

Charlie Lee, the managing director of the Litecoin Foundation,
He described the association as “a great step towards the expansion of the footprint
of Litecoin in the South Korean market. ”

In 2018, South Korea produced a record volume of remittances with $ 6.25 billion worth of transfers.

The Fed has seen lower rates amid the threat of the virus, low inflation

Merchants believe that the Federal Reserve of the States
United will reduce its interest rate target to compete with Bitcoin (BTC)
after half.

As Reuters reported on February 28, Wall Street merchants already believe that the likelihood of Fed cut rates driving the economy over the coronavirus is greater than 75%.

For September, the cuts could add 0.75%, which
would bring the short-term interest rate below 1% for the first time in
three years.

The Fed didn’t seem shaken by the coronavirus, which is now being
extending more rapidly outside its epicenter of China than within it.

“I think it would be premature until we have more data and
let’s have an idea of ​​what the prognosis is for thinking about policy action
monetary, ”said Charles Evans, president of the Chicago Fed on Thursday.

“But we are monitoring it very closely and if we see something that requires adjustment, I am sure that we will take into account all the consideration it needs.” Earlier, the president of the United States, Donald Trump, described that the coronavirus threat to the country was still “very low.

OKEx and Bitfinex cryptocurrency exchanges are undergoing multiple attacks

OKEx and Bitfinex cryptocurrency exchanges are suffering multiple denial of service attacks. So far it is not clear if the attacks are connected, although the CEO of OKEx blamed the competitors on his personal Weibo page.

OKEx first suffered a distributed denial of service (DDoS) attack on February 27 at approximately 11:30 AM EST. CEO Jay Hao posted on his Weibo personal page while the attack was taking place, blaming unidentified competitors in the attack. The attack encrusted up to 200 gigabytes per second of traffic, which put pressure on the OKEx systems.

At approximately 4:30 a.m. EST on February 28, it
resumed denial of service attacks. This time, Bitfinex also
was affected, as announced by the Twitter account of the stock market.

The Bitfinex status page shows that the attack lasted an hour until 5:30 a.m., severely paralyzing the exchange activity during that period as the performance fell near zero.

Chen Weigang: digital currency trading must be repressed

Chen Weigang, former vice president of the China Insurance Regulatory Commission of the Communist Party, met with Yiben blockchain media on February 27 to discuss ICO regulations and digital currency trading in China. He told the media that a central bank digital currency (CBDC) is an important strategic plan for the Chinese RMB to gain an advantage in international economic development.

During the interview, Chen was asked to comment on
the current ICO Ponzi schemes in China. Chen believed that the ICOs and the
Cryptocurrency trading should be banned completely in the future. Added

“I always believe that speculation in the cryptocurrency and the ICO is not the direction of financial development and should be resolutely prohibited.”

Although Chen thought that cryptocurrency speculation was
Illegal, he said that digital asset trading was a different story.
He said digital assets were negotiable with fiat currencies.
He commented that:

“As for transactions in digital currency, I believe that the supervision of several departments in the country will be increasingly strict, leaving no market for transactions. For example, banks and formal payment institutions will be prohibited from providing channels for transactions in digital currency. Private agreements may continue, but they will not be the mainstream. ”

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Venezuelan, student of the last semester of Social Communication. Attracted by the new technologies and development that they offer to humanity.

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