For crypto-industry, we’ve been receiving a mixed bag of news in the Asian territory. While the price of Bitcoin has surged by more than 5% for the day, the biggest daily gains since the beginning of this month.

The long-lasting battle between government and cryptocurrency exchanges has seen some countries turn totally away from digital assets especially in the Asian region, while rest others in the same region have set up the stringent regulatory bodies (known as Thailand’s Securities and Exchange Commission – SEC in the most countries) for making progress with cryptocurrency avenue.

Whereas Indian central bank (Reserve Bank of India) has put a blanket ban on cryptocurrencies, and they have justified its crypto banking ban to an industry group which has been trying to convince the central bank to ease crypto restrictions.

In addition to that, according to Indian advocates, the Supreme Court of India upheld country’s central bank’s opinion of banking momentarily but rebuffed the appeal for a momentary injunction against restrictions imposed on banks regarding cryptocurrency by the country’s central bank. What is rather interesting now is how a Supreme Court hearing would be scheduled for July 20th. The Supreme Court during this hearing would define whether or not the choice of banning bitcoin by the Indian central bank is just. There have been the dicey allegations that there is no official research, the biased verdict is subject to a lot of speculation.

On the flip side, Thailand announced its creation of a regulatory framework for initial coin offerings (ICO) and cryptocurrencies to ensure smooth flow of function in the country on the 14th of May, 2018. Thailand’s SEC would allow seven cryptocurrencies to be traded, exchanged, used for ICOs in the country, as per the Bangkok Post reports.

Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Ripple (XRP), and Stellar (XLM) are the major seven cryptocurrencies that have been legalized by Thailand’s SEC.

Elsewhere, South Korea sent a destructive news for cryptocurrencies in the recent past, we reiterate that the month of June has been pathetic for crypto-universe when Coinrail, the South Korean based digital exchange platform, reported a hacking news, as a result, the price of Bitcoin (BTCUSD) plunged by more than 17.8% (as per BITFINEX) and most of the other major cryptocurrencies are no exception from this bearish streak, which led to the crypto market losing over $42 Billion USD. Consequently, the value of the crypto market dropped below $300 Billion.

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 146 levels (which is bullish), while hourly USD spot index was at -90 (bearish) while articulating (at 11:29 GMT). For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex