G20 Nations have decided during last week to frame new regulations for Crypto at a meeting in June 2019. It is to prevent terrorism financing and money laundering activities.
The finance ministers and governors of G20 countries will take part in the meeting. They will promulgate for identification of individuals transacting in crypto. However, the scenario is different in South Korea. The nation is considering loosening regulations to promote the growth of virtual currency.
Switzerland for crypto regulation
The government in Switzerland has encouraged the crypto valley. The nation has adopted a mechanism to regulate blockchain. Many have welcomed the move of Switzerland in regulating the crypto. The decentralized political system in the nation is responsible for developing the blockchain industry. The finance ministry bats for applying the existing framework for the blockchain rather than framing new rules.
Market Cap of crypto
The market cap of crypto is $183.017 billion. Prominent crypto currencies like Bitcoin (BTC) and Ethereum (ETH) command market cap of $93.034 billion and $19.121 billion respectively. Bitcoin is trading at $5,274.78 (up 1.21%). Ethereum and EOS now trade at $181.07 (up 1.75%) and $5.93 (up 6.97%). The trend may be bullish for Bitcoin, Ethereum, and EOS.
Don’t pay higher transaction fee
The cryptocurrencies are back on the trader’s radar. With more people involved in trading of virtual currencies, the transaction fees become costlier. Look for other ways and you need not pay higher transaction fee. You need not compete with others and end up paying higher transaction fees.
Wallet developers are enjoying incentives because they are making users to pay a higher transaction fee and prevent users from complaining. The spenders can wait longer to save transaction fee. The cryptocurrency wallets help to lower the transaction fee if the users can wait for some time. You can save up to 95% of the transaction fee by waiting for over 8 hours.
Those, who can’t wait for more, should be ready to pay higher fee to make their transaction through because of the congestion in the network. The wallets allow setting the fee manually and improving the chances of confirming the transaction soon. Tech savvy can check the mempool themselves.