Investing.com – Cryptocurrencies were mostly flat on Wednesday, while a Hong Kong-based exchange announced it is extending its services to South Korea.

Bitcoin fell 0.63% to $6,668.70 on the Bitfinex exchange, as of 8:45 AM ET (12:45 GMT).

Cryptocurrencies overall were slightly lower, with the total coin market capitalization at $210 billion at the time of writing, compared to $211 billion on Tuesday.

Ethereum,or Ether, decreased 0.75% to $212.56 and Litecoin was at $54.57, down 2.84% while XRP rose 2.57% to $0.47847.

Meanwhile, Hong Kong-based exchange BTCC is launching its services in South Korea later this month, Korean business site The Investor reported.

The beta service will be available in October and its full debut in November. The service will include a trading platform, wallets, mining pool and consumer payments. The company was founded in 2011 and was one of the top trading platforms in China before a crackdown on the mainland prompted it to close. It was bought in January t by a blockchain investment fund in Hong Kong.

In other news, smart contracts that use blockchain could be liable under U.S. regulations if they are used for event contracts, Brian Quintenz, a commissioner at the U.S. Commodity and Futures Trading Commission.

“Essentially, these contracts would allow individuals to bet on the outcome of future events, like sporting events or elections, using digital currency. If your prediction is right, the contract automatically pays you the winnings,” he said.

Such contracts would fall under a prediction markets, which the CFTC regulates.

“If the contract is a product within the CFTC’s jurisdiction, then regardless of whether it is executed via a written ISDA [International Swaps and Derivatives Association] confirmation or software code, it is subject to CFTC regulation,” Quintenz said.

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