Author: Editorial Team

South Korean Exchange Korbit Stops Serving International Citizens

Just recently reported on South Korean cryptocurrency exchanges implementing new infrastructure systems that comply with the country’s financial regulations. The enforced verification mechanisms will not allow anonymous users to sign up for a Korean-based digital asset exchange and trading platforms must report customer data. Now this week the Korean crypto-exchange, Korbit, has announced it will stop accepting deposits from international citizens. New Regulations Require Trading Platforms to Make Infrastructure Changes There’s been a lot of discussion and reports concerning cryptocurrency regulation in South Korea. This past weekend the country’s Financial Services Commission (FSC) revealed some information about a...

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Bitcoin Tumbles as India Bars Cryptocurrency Trading

Since cryptocurrency’s drastic fall nearly a week ago, many are wondering about the future of bitcoin. Sure, things have begun showing signs of recovery, but bitcoin has undergone another acute drop since regulators in India have moved toward banning crypto trading. India Not a Bitcoin Fan Major action occurred in India over the weekend, before which bitcoin entered the market trading at over $12,000 USD. This didn’t last however, as the price plummeted by nearly $1,000 following India’s crackdown on digital currency exchanges. At press time, institutions like the State Bank of India, Axis Bank, HDFC Bank, ICICI Bank,...

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Russian Bill Requires Deputies to Declare Their Cryptocurrency Investments

The bill for the regulation of cryptocurrencies in Russia submitted by the finance ministry and the central bank requires State Duma deputies to declare their cryptocurrency investments. Currently, government officials are not required to declare their crypto holdings, according to a recent announcement by the Russian Ministry of Labor. Bill Requires Declaration of Crypto Holdings Anatoly Aksakov. The chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov, explained last week that Russian officials will be required to declare their cryptocurrency holdings under the bill recently submitted by the central bank and the ministry of finance. In this...

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Korean Crypto Exchanges to Share Data with Banks in New Account System This Month

The South Korean government has announced that six major banks will be ready to provide services to cryptocurrency exchanges this month. Under the new system, the government requires exchanges to share user data with banks. Exchanges to Share Data with Banks The Korean Financial Services Commission (FSC) announced some additional details of the new real-name system for cryptocurrency accounts on Sunday. “The government plans to require cryptocurrency exchanges to share users’ transaction data with banks,” an FSC official said, as quoted by the Investor. The official emphasized: Banks are expected to introduce the system, which will require cryptocurrency exchanges...

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US Sheriffs Welcome $1.7 Million Windfall After Students Plead Guilty to Stealing 5,400 BTC

Two Jacksonville students are facing up to two decades behind bars after pleading guilty to stealing $4 million worth of bitcoin. The pair hacked darknet site Sheep Marketplace in 2013 and made off with 5,400 BTC. Under forfeiture laws, Nassau County Sheriff’s Office will share in a $1.7 million windfall. Also read: US Marshals Plan to Auction $52M Worth of Seized Bitcoins LEA Celebrates Another Bitcoin Bonanza Bitcoin thefts end badly for hackers who don’t cover their tracks, but spell great news for law enforcement. Across the US, federal and state agencies have been treating themselves to new computers and...

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