It was another tough start to the week for bitcoin, which shed as much as 8.5% of its value Monday, Jan. 22. While the cryptocurrency was still firmly above the $10,000 threshold, it remained solidly off its record near $20,000 set last month.
These are the headlines you can't afford to miss on Monday, Jan. 22.
Korea's Korbit Halts Foreign Deposits
Korean crypto exchange Korbit has barred non-citizens from depositing the Korean won on its platform, according to an announcement from the company. Korbit said the move is in order to comply with local anti-money laundering regulations, and the new law will go into effect at the end of this month. Once the regulation takes hold, only Korean citizens with a Shinhan Bank account will be able to use the Korbit exchange platform.
Canada Tests Ethereum
Canada's National Research Council announced it's testing out the Ethereum blockchain to record government contracts. The NRC will use the Catena platform from bitcoin startup Bitaccess to publish information for the public to see regarding government contracts, grants and contributions. This will be a trial on the blockchain technology for the Canadian government, which will test how else it can be best utilized in other federal operations.
Could Facebook Go Open Source?
As pointed out by CoinDesk, Facebook Inc. (FB) - Get Report CEO Mark Zuckerberg wrote in a New Year's post the following: "With the rise of a small number of big tech companies...many people now believe technology only centralizes power rather than decentralizes it." Zuckerberg continued in the post to detail his company's willingness to go deeper into exploring open-source, people-empowering technologies such as cryptocurrencies and encryption, Coindesk reported. Could Zuck soon be rolling out his own crypto token? Coindesk thinks it's possible. Look out, KODAKCoin - here comes FBCoin?
Grayscale's Stock Split for Bitcoin
Grayscale Investments, the firm behind the Bitcoin Investment Trust (GBTC) , announced the launch of a 91-for-1 stock split of the trust's issued and outstanding shares. The split will take place Friday, Jan. 26, leaving shareholders with 90 shares for each original share held. The move is aimed at making shares of the trust more affordable and attracting retail investors. Ahead of the split, shares of GBTC were worth about $1,685. They'll end this week closer to $16.85 each. Shares of the trust were lower 4.6% late Monday.
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