South Korea s Coinone exchange is on the brink of police charges due to margin trading: Bitcoin price sitting taut above $7, 700

The department of cybercrime investigation unit of South Korea&rsquo,s provincial police department has reported that it will be charging Coinone exchange due the margin trading it offers its clients. The department says, te retrospect, Coinone is suggesting illegal gambling and that it could be aiding criminal laundering activities.

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The unit has bot conducting an investigation for about Ten months and the report shows that approximately Nineteen,000 people took part te the margin trading. Moreover, 20 of them became conspicuous due to the high volumes of transactions they recorded. Combined they all transacted a total of $Two.8 million te about Three,000 to 13,000 margin trading orders on Coinone exchange. The CEO, Myunghun Cha will also be charged along two other executives and the 20 traders who had the highest volumes. Coinone, te response to CoinDesk&rsquo,s inquiries, said:

&quot,At this time wij are focused on cooperating with the ongoing investigation, and will proceed to do so spil the case is ter the process of moving overheen to the Prosecution Service from the Police Agency.&quot,

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Bitcoin price led a epistel bullish spike during the session on Wednesday, the 61.8% Fib retracement level with the last high gam of $8,559 and a low of $7,090 prevented further gains towards $7,000. However, BTC/USD spiked again on Thursday Asian trading hours, while using $7,500 spil a support. It attacked the retracement level above, this time cracking the key resistance at $7,000 and is now trading marginally above $7,700. The contracting triangle will offerande resistance towards $7,800, but the psychological $8,000 is still out of reach for now. On the flipside the 61.8% Fibo will now opoffering support, besides a stronger support is provided by the 100 SMA at $7,400.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you spil well spil for you. Before determining to trade foreign exchange you should cautiously consider your investment objectives, level of practice and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

2 comments

  1. Well if you don’t expose how much buying power you could have with thesis FAT BTC WALLET that shouldn’t be a problem i guess, but i wonder is that true that thesis zuigeling of proceedings would involve cryptocurrencies spil part of your assets spil well, lawfully? Well if indeed a NASTY divorce happens i wouldn’t give a single Satoshi unless court order mij to do so or having my dear children separated. How painful it wasgoed to providing up your precious investment assests considering BTC is at its infant stage to another NASTY person who took your wealth spil granted? Hell noooooooooo

  2. Whatever the reason of that divorce I think it is worst enough to end up to divorce. I am not a married person but I can say something about this. Take note it is just my opinion.

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