LIBRAㆍXijinbeamㆍBithumb tax problem...What happened in 2019?
Cryptocurrency prices fluctuated wildly throughout the year as events unfolded, including the introduction of Facebook’s Libra, various frauds and scams and the development of China’s digital currency. Following is a list of major events in 2019. February: Samsung and JP Morgan joining the race 25 – JP Morgan issued its JPM Coin digital coin. JPM Coin is linked to the U.S. dollar and will cater to banks and corporate clients. The financial institution said that it will start releasing the crypto by the end of 2019, but no news has been reported since then. 26 – Samsung’s Galaxy S10 announced that its digital wallet will be built upon blockchain. It unveiled the wallet and available cryptocurrency at the Mobile World Congress in Barcelona, Spain. At the time, Cosmochain’s blockchain technology was expected to be adopted, which resulted in a 200 percent increase in cryptocurrency’s value. March: Kimchi premium gone The average price of bitcoin on domestic crypto exchanges was lower than that on international exchanges, indicating that speculative sentiment has subsided. 6 – Assets owned by the head of domestic exchange Allstarbit were seized and a travel ban was placed on the chief. He is believed to have illegally pocketed 20 million won. 11 – The CEO of Coinup, a local cryptocurrency company, was arrested over an allegation that he coaxed investors into investing in coins he claimed could deliver 400-500 percent returns. June: FATF guidelines and launch of Libra The white paper for Libra was released. At the same time, bitcoin prices surged to a recent high of $12,500. Its market cap also hit highs. 18 – The white paper of Libra was released, which said that Libra is intended to serve the global markets. Paypal, eBay, Visa and Mastercard expressed their interest in joining the Libra association. 21 – FATF guidelines were announced for cryptocurrency issuers and exchanges. It was the first such guideline. It defines the operators of digital assets and requires anti-money laundering measures be taken. 27 – Kakao introduces Klaytn. August: China’s march into digital currency, bitcoin dipped to 10 million own To compete with Libra, China moved to introduce the yuan-based Central Bank Digital Currency (CBDC). 2 – China’s central bank announced its plan to issue a digital currency, saying that it will take aggressive steps in researching and developing the technology. October: Xi Jinping sends bitcoin prices higher 25 – Chinese leader Xi Jinping announced that the country will foster the development of blockchain, saying that China needs to get ahead in terms of the technology. On the same day, bitcoin prices broke 10 million won, and cryptocurrency originating from China nearly doubled.