Harry here from Crypto Finder bringing you all the latest news in crypto Now todays first story comes from South Korea where if you've been following the crypto industry recently you would have heard the news overnight that the country is considering banning cryptocurrency trading now this came out of the Justice Minister Park Sang-ki's office where he said that they will be putting forward a bill that would see that the cryptocurrency industry banned in the country

Now this has sent the market into absolute freefall ever since you can see here on this chart that around what just as soon as it gets announced the market drops by about US$70 billion in just a couple of hours now this is started to recover ever since especially after the news that the from the South Korean Prime Minister's office that they weren't definitely considering banning cryptocurrency it's simply one option the government is looking at to try and regulate the industry at the moment the government has massive fears around the speculative nature of it wondering that you know with so much of the young population investing their money if it crashed what it would do to the economy, there's tax evasion issues, there's a whole bunch of things that the government's are worried about so this is when you hear someone say the South Korean government is banning it they're not it's just an option that they're considering and even then it looks like it's going to be an unlikely one Now our other news this morning comes from Ripple now Ripple's had a big few weeks its price has gone up it's come back down again and one thing that could see it moving in is that sign it to you with MoneyGram Now MoneyGram is a popular international currency transfer firm and so it says it's going to use Ripple's XRP as part of a new Ripple x-rapid program to transfer money quickly now MoneyGram is currently used in many places across the world to try and send money back home usually from places such as Africa and Southeast Asia so if this picks up it could be quite a big deal for Ripple so that's worth keeping an eye on too Now today's currencies I wanted to look at a sort of smaller market cap ones there's one called the NAGA coin not quite sure how to pronounce it the NAGA coin this is a currency that wants to dominate the online gambling industry except it's done something quite interesting which you haven't seen many tokens do so while it's priority is to dominate the online gambling industry it's actually also in the last day announced that it's going to release or in the last week it's announced it's going to release a NAGA Mastercard to be able to spend your currency as well as other cryptos in the fiat world so usually you've seen you know complete loan businesses try and do this is the first time and I can sort of think of where I've seen a cryptocurrency token itself that doesn't focus on those payments use their own card so people who invest in the currency if they don't want to just use it in the you know that the gambling space like it's like it's been pitched for they can also use in the real world you can see here in these charts that you know when this was announced and and it also coincided with the announcement it's going to go on a second exchange the OKX exchange at the moment its only on Hit BC but social traffic has exploded almost 500% in the last 24 hours since then and as a result the price is up 40% yes so jumping up 40% after that news So this could be one to keep an eye on it's taken an interesting tactic so it'll also be interesting to see if other types of tokens take a similar route to try and get people embracing their token

And finally there's another coin called SolarCoin that's had quite a rise in the past few days it's up 15% in last 24 hours and in the last week it's had a few social spikes now SolarCoin basically rewards you in this coin for the solar power so it's paying you for solar power in this coin now this has become quite a topic in the last few days considering that China is looking to ban cryptocurrency mining and that you know of course cryptocurrency mining uses quite a lot of electricity so as that's come through and people are trying to work out how to solve this crypto mining problem where you know electricity is expensive outside of these hydroelectricity plants that many miners in China are using what can you use so the SolarCoin in the last few days is done really well to try and pitch itself as a potential solution and as a result it's you know it's had lots of interest online it's had you know it's price gone up and this will probably continue for a little bit until we try and work out a definitive solution for what's gonna happen if China does ban cryptocurrency mining and that's news for today guys thanks to joining in, hit the subscribe button, give us a like and we'll see you tomorrow!