• Tax authorities in Malaysia have indefinitely frozen Luno’s local account used in the country, BitX Malaysia, while they investigate possible tax concerns. London-based cryptocurrency exchange, Luno, has had its Malaysian account frozen pending an investigation by the country’s tax authority, the Inland Revenue Board (IRB). In a statement sent to The Edge Markets, the exchange said: As part of this, IRB has requested that we provide them with information on all our Malaysian customers: identification,

    Malaysian Taxman Gives Luno the Cold Shoulder

    | 2018/01/16 11:30 pm
  • Capital One is firing a broadside at crypto as they confirm that they will not allow customers to purchase cryptocurrency with their credit cards. Banks and cryptocurrency are natural enemies as they occupy opposing positions on the financial spectrum. Banks represent centralized economic control, where the average person is bound by a bevy of rules and regulations. Virtual currency offers a decentralized, individualistic approach to a person’s economic decision-making. Which is why it is not

    What’s in Your Wallet? If You’re Using Capital One, Then Nothing at All

    | 2018/01/16 4:45 pm
  • Mitsubishi UFJ Financial Group (MUFG) is launching an initiative to open a new exchange and issue its own virtual currency: the “MUFG coin.” By controlling the exchanges themselves, MUFG plan to suppress fluctuations in the price of MUFG coins in order that they can be used stably for settlement and remittance. The MUFG coin, due to their distribution being made available on a centralized exchange, can be directly overseen by the bank. In addition, the

    Japan’s Largest Financial Group To Launch Own Virtual Currency

    | 2018/01/16 2:30 pm
  • Metropolitan Bank Holding Corp, believed to be widely used by cryptocurrency companies and investment firms, has reportedly ceased all international wire-based, cryptocurrency-related money transfers. Fortune broke the news that Metropolitan Bank is immediately “ceasing all international crypto-related wire transfers to and from” the bank itself, according to a source that is a customer of the bank. Supposedly, the reason for the shutdown was because the bank could not verify the compliance of international wire transfers

    Metropolitan Bank Halting Cryptocurrency-Related Transfers

    | 2018/01/15 12:00 pm
  • Blockchains and cryptocurrencies are here to stay, and banks and governments are concerned. With the momentum that the budding markets have built in recent months, digital assets like Bitcoin, Ethereum, Litecoin, and Ripple have become household names. However, crypto regulation does not necessarily have to mean prevention if it can be approached in the right way. In recent weeks, news has emerged of steps concerning crypto regulation taking place across the world, most significantly in

    Why Crypto Regulation Should Not Mean Prohibition

    | 2018/01/15 4:30 am
  • Retailer Overstock experienced a glitch in their system that allowed customers to pay for goods using Bitcoin Cash rather than Bitcoin, which is valued at a fraction of what Bitcoin is.  Not Quite a Discount Online retailer Overstock is known for their many deals and sales, but a glitch on the company’s website allowed customers to get an unexpected bargain. Overstock’s website gave customers the option to pay with either Bitcoin or Bitcoin Cash interchangeably.

    Overstock Glitch Mixes Up Bitcoin and Bitcoin Cash

    | 2018/01/12 1:30 am
  • Iran’s citizens are straining under the weight of aggressive financial sanctions as result of its nuclear initiatives. Cryptocurrencies like Bitcoin provide a circumvention solution. Even though Bitcoin continues its somewhat volatile price jumps, it is still a desirable asset for investors around the world. Since its phenomenal growth last year, people are buying and holding until it reaches even greater heights. Bitcoin Is Not Just Something to Hodl Onto According to The Hill, however, for

    Bitcoin is More Than Just an Investment Option for Iran

    | 2018/01/11 7:00 pm
  • What happens in Asia often has a knock-on effect on trading in Europe and the US later in the day. A grim picture has been painted today as all cryptos, bar one or two, are in the red and falling. Police and tax inspections on exchanges across South Korea could be the cause alongside misreporting by the mainstream media of an outright crypto ban. Reports are emerging of nation-wide police inspections on crypto exchanges in

    Fearmongering MSM Gets It Wrong – South Korea Not Banning Cryptocurrency Trading

    | 2018/01/11 1:30 am
  • The government of Australia is eyeing crypto traders as it establishes a taskforce to ensure tax compliance. If there’s one thing that’s near and dear to the hearts of national governments, it’s taxes. The gathering (and spending!) of revenue is what keeps the wheels of government turning. Of course, some cynical folks would say spending taxpayer money ensures that palms are greased and votes are bought. No matter the case, governments frown at any attempt

    Australia Creates Tax Taskforce to Monitor Crypto Traders

    | 2018/01/10 10:00 am
  • It can be challenging enough to keep up with the fast-paced world of cryptocurrencies and their price fluctuations. The challenges can be compounded when you cannot find a consistent source for these prices and the vital statistics used to make informed trading decisions. Following a frenzy of activity over the weekend which pushed the total crypto market capacity over $800 billion and shut down several exchanges to new users, analytics website CoinMarketCap arbitrarily decided not

    CoinMarketCap Cuts South Korean Exchanges Without Warning, Panic Selling Ensues

    | 2018/01/09 12:30 am
  • Bitcoin community figures have championed a petition asking Coinbase to prioritize SegWit implementation which has gathered over 5,000 signatures (at press time). ‘Your Customers Want This,’ Bitcoin Tells Coinbase Online trader Vortex among others urged users to sign the Change.org petition on social media, which requests that the US exchange treat SegWit as its next project. Previously, Coinbase had announced SegWit was third in its development queue, leading to criticism that users would continue paying

    Petition to Bring SegWit to Coinbase Nears 5000 Signatures

    | 2018/01/08 3:00 pm
  • Cryptocurrency trading reached a crescendo yesterday with total trade volume reaching an all-time high, topping $835 billion. The world’s major cryptocurrency exchanges were forced to shut up shop to new customers as the massive surge swamped their systems. The massive influx in new account applications has caused three of the top four crypto exchanges to suspend new registrations. Many of them are reporting record numbers of signups as crypto mania exponentially increases. Binance Bolted The

    Crypto Climax Closes Top Exchanges

    | 2018/01/08 11:00 am
  • It is common knowledge that banks are far from comfortable with the explosion of interest in cryptocurrency investing in the last year. Just by its nature, a decentralized currency goes against the business model of a bank, which essentially profits from holding and moving other people’s money. Banks in India have been frowning upon virtual currencies recently and have been attempting to change the way money flowed from them into crypto exchanges. A FactorDaily article

    Indian Banks Squeeze Crypto Exchanges

    | 2018/01/08 9:00 am
  • Coinbase will no longer be accepting deposits from Nationwide bank. The move comes due to the bank’s SEPA processing being handled by German bank Commerzbank, who has a new companywide policy of not dealing with money related to Bitcoin. The Coinbase website has announced that they will no longer be accepting deposits from Nationwide Bank. Nationwide’s line on events appears to be that it is their SEPA payment processing, handled by Germany’s Commerzbank who have

    Coinbase Announces They Will No Longer Accept Deposits from Nationwide Bank

    | 2018/01/07 7:00 pm
  • South Korea cryptocurrency exchanges have submitted a legal challenge to the government claiming its new restrictions are “unconstitutional.” Law Firm: Govt. Is ‘Devaluing’ Virtual Currencies As local news outlet Korea Times reports today and Wednesday, Seoul-based law firm Anguk Law Offices has filed a complaint on behalf of a group of investors and exchanges, and is “preparing follow-up appeals.” South Korea enacted restrictions last month as Bitcoin and altcoins shot up in value. Among them,

    Official Complaints Say Korea Trading Restrictions Are ‘Unconstitutional’

    | 2018/01/04 2:30 pm
  • Cryptocurrency trader and commentator WhalePanda has showered negative publicity on Coinbase after the exchange allegedly locked up his funds. ‘It Looks Really Bad’ In a tweet today, the personality claimed a withdrawal request to a euro-denominated SEPA bank account had failed to materialize, despite being requested December 12. “Don’t know what went wrong that day, but it looks really bad. I’m close to taking legal action,” he announced, tagging Coinbase CEO Brian Armstrong. Update on

    Coinbase: Missing Funds See WhalePanda Threaten Legal Action

    | 2018/01/04 12:00 pm
  • With the majority of Asian nations attempting to regulate cryptocurrency exchanges, the number of those declining to clamp down is dwindling. Malaysia is among those nations that are currently free from regulatory laws and are not imposing a ban on crypto. According to the Malaysia Reserve, the country’s finance minister said that the central bank will not impose a blanket ban on cryptocurrencies as such action will only curb innovation and creativity in the financial

    Malaysia Remains Open to Crypto Trading

    | 2018/01/03 6:30 am
  • The year started with good news about Bitcoin’s urgently needed optimizations. Indeed, key entities of the cryptocurrency ecosystem began the year by rushing to become Segregated Witness (SegWit) compatible. Specifically, BTC.com and LocalBitcoins.com are implementing SegWit from the first business day of 2018. SegWit Will Help Reduce Transaction Fees Dr. Pieter Wuille proposed SegWit in December 2015. Then it was activated in August 2017. Segwit promises to improve Bitcoin’s scalability and reduce Bitcoin’s transaction fees.

    2018 To Be the Year of SegWit

    | 2018/01/03 1:30 am
  • Bitcoin has definitely made it to the big time in 2017 as mainstream media ran reports and televised debates on the meteoric rise of the world’s number one cryptocurrency. Speculators and observers have put forward suggestions on what has caused these price surges, and one of them has been North Korea’s estranged leader, Kim Jong-un. Although markets have corrected somewhat, Bitcoin has still seen gains of around 1600% since this time last year when it

    Is North Korea Boosting Bitcoin?

    | 2018/01/02 5:00 am
  • Reports are emerging on Twitter that bank accounts in Australia associated with Bitcoin purchases are being frozen alongside transactions that users may be making to some of the country’s most popular cryptocurrency purchasing sites. The Australian banks which have been accused of freezing accounts of Bitcoin users have been listed as the National Australia Bank, ANZ, Commonwealth Bank of Australia, and Westpac Banking Corporation. The claim was made in a tweet saying that user activity associated

    Australian Banks Reportedly Freezing the Accounts of Bitcoin Users

    | 2018/01/01 7:00 am
  • Exmo’s Pavel Lerner was kidnapped in Kiev on December 26th, shortly before the company fell under DDOS attack. He has just been freed after paying a ransom of over $1 million in bitcoins. Many media reports came out this week concerning the news that Pavel Lerner, Managing Director at bitcoin and cryptocurrency exchange Exmo, had been kidnapped. After a few days of speculation, we can now report that Lerner is alive and unharmed. He was

    Pavel Lerner, Kidnapped Exmo Managing Director, Free After Paying $1 Million Ransom in Bitcoins

    | 2017/12/29 3:45 pm
  • Poloniex just reported that it’s going to require verification for legacy accounts. Here’s what’s what you need to know:  On December 27, 2017, cryptocurrency exchange Poloniex released this press release. The release outlines that fact that the company will soon start requiring that every account held on its platform is verified and that, to this aim, will start removing accounts (so-called legacy accounts) on an as-yet-undecided date. Here’s Poloniex’s official statement on the development: We

    Everything You Need To Know About The New Poloniex Verification Policy

    | 2017/12/28 9:00 pm
  • It was only a matter of time until authorities pulled the reins in on one of the biggest crypto trading nations in the world. South Korea, which is responsible for as much as 25% of total crypto trading volume, said on Thursday it will impose additional measures to regulate speculation in crypto within the country. South Korea Will Ban Anonymous Crypto Trading As previously reported that more regulations are expected, South Korean regulators have confirmed additional

    South Korea Tightens Grip, But Won’t Ban Bitcoin Trading

    | 2017/12/28 3:00 am