South Korean Financial Supervisory Service Tasked With Crypto Market Oversight

Bank of Korea Seeking Technology to Develop Digital Currency

South African Crypto Holders Urged to Approach Tax Body Before It Descends on Them

South Korean Police Officers Banned From Buying Cryptocurrency

A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. South Korea to Penalize National Police Agency Officers Who Fail to Disclose Crypto Holdings Officers with […]

Thailand’s New Cryptocurrency Regulation Requires Users to Be Physically Present to Open Accounts

The Thai government has reportedly imposed a new cryptocurrency requirement. Crypto exchanges will be required to verify users’ identities using a machine that requires the customers to be physically present. Thailand’s New Crypto Rules The Thai Anti-Money Laundering Office (Amlo) has announced that starting in July “local digital exchanges must verify their customers’ identities through […]

All 200 Cryptocurrency Exchanges Could Be Shut Down Under New Regulation in South Korea, Regulator Warns

The chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), Eun Sung-soo, has warned that all of the cryptocurrency exchanges in the country could be shut down. South Korea currently has about 200 cryptocurrency exchanges, he said. All Crypto Exchanges Could Be Shut Down in South Korea At the general meeting of […]

All 200 Cryptocurrency Exchanges Could Be Shut Down Under New Regulation in South Korea, Regulator Warns

The chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), Eun Sung-soo, has warned that all of the cryptocurrency exchanges in the country could be shut down. South Korea currently has about 200 cryptocurrency exchanges, he said. All Crypto Exchanges Could Be Shut Down in South Korea At the general meeting of […]

Tax Authority Seizes Cryptocurrencies Worth $25 Million From Hundreds of Crypto Investors in South Korea

The tax department of the Seoul metropolitan government in South Korea has reportedly seized cryptocurrencies worth about $25 million from hundreds of crypto investors with delinquent taxes. The cryptocurrencies, including bitcoin, were seized from three exchanges. The tax authority is now going after hundreds more taxpayers who are delinquent on paying their taxes. Crypto Seizure […]

Egypt’s Growing P2P Volumes Being Driven by Crypto Traders Under the Age of 34

A recent market report by Localbitcoins suggests that traders or holders under the age of 34 are driving crypto volumes in Egypt. This rise in Egyptian crypto transactions is evidenced by P2P data which shows the crypto asset’s weekly traded volumes averaging $205,000 in much of Q1 of 2021. The Premium on BTC In addition […]

Nigeria’s SEC in Talks With Central Bank of Nigeria Over Crypto Regulation— 2020 Crypto Guidelines Still Suspended

Nigeria’s Securities and Exchange Commission (SEC) has revealed that talks with the Central Bank of Nigeria (CBN) regarding the regulation of cryptocurrencies are ongoing. The securities regulator also reiterated that due to a CBN directive that was issued on February 7, 2021, the crypto guidelines it issued in September 2020 remain suspended. Crypto Guidelines Set […]

US Court Authorizes IRS to Summon Cryptocurrency User Records From Circle and Poloniex

The Internal Revenue Service (IRS) has obtained authorization from a federal court to seek information on cryptocurrency users from Circle and Poloniex exchange platforms. The tax authority wants records identifying crypto users who conducted $20,000 or more in crypto transactions during the years 2016 to 2020 as well as other documents relating to their crypto […]

Indian Government Now Requires Companies to Disclose Cryptocurrency Holdings

The Indian government has introduced new cryptocurrency disclosure rules. Companies dealing in cryptocurrencies will have to disclose their crypto holdings, among other disclosures, as part of their financial statements beginning April 1. New Crypto Disclosure Requirements The Indian Ministry of Corporate Affairs (MCA) issued a notification last week mandating companies to disclose crypto trading and […]

Indian Government Now Requires Companies to Disclose Cryptocurrency Holdings

The Indian government has introduced new cryptocurrency disclosure rules. Companies dealing in cryptocurrencies will have to disclose their crypto holdings, among other disclosures, as part of their financial statements beginning April 1. New Crypto Disclosure Requirements The Indian Ministry of Corporate Affairs (MCA) issued a notification last week mandating companies to disclose crypto trading and […]

Indian Government May Block IP Addresses of Crypto Exchanges

As the Indian government prepares to introduce the cryptocurrency bill, there are reports that it is considering blocking the IP addresses of cryptocurrency exchanges. Despite ban reports, many people in the Indian crypto community believe that the government will not impose an outright ban on cryptocurrencies, including bitcoin. Blocking IP Addresses of Crypto Trading Platforms […]

Ripple to Dispose Stake in Moneygram Shortly After Announcing End of a Business Relationship

Just a few days after announcing the end of its partnership with Moneygram, the fintech firm Ripple Labs is now moving to dispose of its stake in the listed company. In a filing with the U.S. Securities and Exchange Commission (SEC), Ripple says it has entered into an agreement with Jefferies in which the latter […]

Bitcoin Balances on Exchanges Are Draining, Leading Platforms See $10 Billion in BTC Withdrawn in 4 Months

Bitcoin prices have regained momentum during the last two days as the price per coin touched a March 2021 high at $54,822 on Tuesday morning (ET). Back in December 2020, it was noted that bitcoin on exchanges dropped to a three-year low and this year bitcoin exchange balances continue to plummet. A whopping 189,000 bitcoin […]

An Iranian Think Tank Recommends the Use of Cryptocurrencies to Circumvent Sanctions

A think tank affiliated with the Iranian Presidency has unveiled a study report that encourages the use of cryptocurrencies in circumventing sanctions against the country. In addition, the report also claims the government could potentially “generate US$2 million a day and $700 million a year in direct revenue from cryptocurrencies.†Employment Opportunities Meanwhile, as reported […]

Philippine Central Bank Widens Cryptocurrency Regulation — Sees ‘Accelerated Growth’ in Crypto Activity

The Philippines’ central bank, the Bangko Sentral ng Pilipinas (BSP), has expanded the country’s cryptocurrency regulation after seeing “accelerated growth†in the use of crypto exchanges. The new regulatory framework is in line with the guidelines recommended by the Financial Action Task Force (FATF), according to the central bank. Philippine Central Bank Introduces New Rules […]

UK Investment Firm Aims to Block Ripple From Leveraging Liquid Assets, Jed McCaleb Dumps 28.6 Million XRP

Court documents show that the company, Tetragon Financial Group, has filed a lawsuit against Ripple after the firm was charged by the U.S. Securities and Exchange Commission. The court filing indicates that Tetragon and Ripple allegedly made an agreement, and the SEC case deeming XRP as an unregistered security should allow them to get funds […]

Ripple’s CEO Addresses Key Allegations by US SEC — Legal Response Coming Soon

Ripple CEO Brad Garlinghouse has addressed some of the allegations made by the U.S. Securities and Exchange Commission (SEC) against his company. He focused on answering five questions on what he calls “unproven allegations†by the regulator. Garlinghouse Says There Is ‘Regulatory Chaos’ in the US In a Twitter thread on his official profile, Garlinghouse […]

Bitcoin Retail FOMO Brings a Heap of ‘Kimchi Premium’ to S. Korea

The “kimchi premium†has returned. Price premiums for bitcoin on South Korean exchanges have hit two-year highs, indicating retail investment interest in cryptocurrencies is surging in that country. However, analysts and traders warn that certain market players could take advantage of arbitrage opportunities, resulting in short-term price volatility. The “kimchi premium,â€Â  named for a popular […]

Massive Exodus of Bitcoin Continues to Leave Exchanges, Over 87,900 BTC Withdrawn in 30 Days

Despite the bitcoin price high, there continues to be a massive exodus of bitcoin leaving exchanges. Onchain data shows exchanges are being drained like a sieve and during the last 30 days, 87,954 bitcoin was withdrawn from the top crypto trading platforms. Back in December 2019, it was reported that the San Francisco-based exchange Coinbase […]

Massive Exodus of Bitcoin Continues to Leave Exchanges, Over 87,900 BTC Withdrawn in 30 Days

Despite the bitcoin price high, there continues to be a massive exodus of bitcoin leaving exchanges. Onchain data shows exchanges are being drained like a sieve and during the last 30 days, 87,954 bitcoin was withdrawn from the top crypto trading platforms. Back in December 2019, it was reported that the San Francisco-based exchange Coinbase […]

Ripple Assails the SEC, Claims the $1.3 billion Lawsuit is an ‘Attack on the Entire Crypto Industry Here in the United States’

Ripple has hit back at the U.S. Securities and Exchange Commission (SEC), accusing it of creating more uncertainty and failing in its duty to protect the crypto community. In panning the SEC’s decision to designate its XRP token as a security, the company claims the regulator’s lawsuit against it amounts to an attack on the […]

Ripple Assails the SEC, Claims the $1.3 billion Lawsuit is an ‘Attack on the Entire Crypto Industry Here in the United States’

Ripple has hit back at the U.S. Securities and Exchange Commission (SEC), accusing it of creating more uncertainty and failing in its duty to protect the crypto community. In panning the SEC’s decision to designate its XRP token as a security, the company claims the regulator’s lawsuit against it amounts to an attack on the […]

Israeli Tax Authorities Notify Cryptocurrency Owners to Disclose Their Holdings for Taxation Purposes

The revenue collector, the Israel Tax Authority (ITA) has reportedly sent notifications to dozens of Israelis who own digital currencies asking them to fully disclose their assets and be taxed accordingly. In addition to sending letters to local citizens, the tax body has also sent inquiries to cryptocurrency exchanges operating in Israel and those based […]

OKCoin Debuts CeFi-DeFi Mashup With Portal for Stablecoin Deposits

San Francisco-based cryptocurrency exchange OKCoin is allowing users to invest in decentralized finance (DeFi) applications through its site without paying gas fees, the company announced Wednesday. With the company’s Earn product, users can get yield by depositing stablecoins into the Curve, Yearn Finance and Compound protocols. OKCoin says it will be pooling transactions so it […]

Flash Loan Attack: Origin Protocol Unveils Compensation Plan that Excludes Founders

The Origin Protocol team has unveiled a compensation plan for its depositors who were adversely affected by the flash loan attack in November. According to the team, there is now a plan to provide compensation equal to 100% of the value deposited to OUSD at the time of the exploit. Two Compensation Plans Still, the […]

Cryptowisser Announces Most Comprehensive Exchange Comparison Tool on the Market

PRESS RELEASE. Leading crypto service comparison site, Cryptowisser has now released its revolutionary VS comparison tool, which helps you compare cryptocurrency exchanges against each other in an instant. Comparing cryptocurrency exchanges has – up until now – been very difficult to do. To use the VS comparison tool, you simply input the exchanges you want […]

Thailand’s New Rules Help Securities Companies Launch Crypto Exchanges

Thailand has reportedly revised its net capital rules which help securities firms launch cryptocurrency exchanges. The country now has 15 licensed crypto service providers. New Thai Rules and Crypto Exchanges The Thai Securities and Exchange Commission (SEC) has revised its net capital (NC) rules which help securities companies provide crypto services, the Bangkok Post reported […]

South Korea To Ban Crypto Exchanges From Handling Privacy Coins

South Korea is to ban crypto exchanges from handling digital assets it considers “dark coinsâ€. Regulator Financial Services Commission (FSC) is specifically targeting privacy coins such as dash, monero and zcash. â— The ban is with effect from March 2021. In an update to crypto regulations under the Special Payments Act, the FSC accuses privacy […]

South Korea To Ban Crypto Exchanges From Handling Privacy Coins

South Korea is to ban crypto exchanges from handling digital assets it considers “dark coins”. Regulator Financial Services Commission (FSC) is specifically targeting privacy coins such as dash, monero and zcash. ● The ban is with effect from March 2021. In an update to crypto regulations under the Special Payments Act, the FSC accuses privacy […]