• Six major South Korea cryptocurrency exchanges have received fines of around 25 million won ($23,500) for lax security measures which “violated” laws. 6 Of 10 Exchanges Ordered To Pay As local news media outlet Yonhap News Agency reports Wednesday, government officials will press forward with penalties in what some commentators view as an increasingly promising sign of bringing the domestic cryptocurrency industry under regulatory control. “Although the size of transactions and the number of users

    South Korea Fines 6 Exchanges For Security Law ‘Violations’

    | 2018/01/24 8:30 am
  • The markets are currently falling, and those recently into crypto could be concerned. Crypto exchange Coinbase certainly isn’t worried. In fact, the company is laughing all the way to the bank. The US-based Bitcoin broker cleared over a billion dollars in revenue last year, smashing predictions. The six year old firm was only expected to make $600 million as of September last year, according to tech website Recode. However, it exceeded that by over 40%,

    Coinbase Creams It with over a Billion Dollars in Revenue

    | 2018/01/24 1:30 am
  • The impetus behind Bitcoin’s success is, without doubt, society’s increasing demand decentralize money. Rapidly growing dissatisfaction with banks and governmental monetary policies have led people to seek new methods of storing and transferring value that would eliminate intermediaries, central authorities and regulators. Being controlled by an algorithm and maintained by a decentralized community of miners, blockchain-based cryptocurrencies have created endless opportunities for the underbanked and unbanked. Add to that the decreased risk of fraud, censorship, and

    Invisible War: How to Stop Being Screwed by Centralized Crypto Exchanges

    | 2018/01/24 1:30 am
  • Dubai continues to embrace blockchain technology through the latest addition to its available exchanges, BitPado. We recently reported on how Dubai was well on its way to becoming the smartest city in the world by planning to launch 20 blockchain-based services in this year alone. Now, according to Arabian Business, the city will also unveil their latest development: BitPado. The Dubai-based exchange was founded by Omar Kassim, who made his mark on the ecommerce world

    BitPado: Dubai’s Latest Crypto Exchange

    | 2018/01/23 10:30 pm
  • Governments across the world are either opening their doors to crypto or closing them. Exchanges need to keep up with this fast-paced ecosystem and seek out friendly nations and markets. Japan is still a haven for crypto and Tokyo exchange BitFlyer has recently gained approval to operate in Europe. According to Coinmarketcap, BitFlyer is the world’s fourteenth largest exchange with a 24-hour volume in the region of $300 million. More significantly, it carries 80% of the

    Tokyo Crypto Exchange BitFlyer Approved for Europe

    | 2018/01/23 2:00 am
  • Even though India is straddling the regulation fence when it comes to cryptocurrencies, the country’s major banks have taken the decision to temporarily close the accounts of a few of India’s top Bitcoin exchanges. According to the Economic Times, The State Bank of India, Axis Bank, HDFC Bank, ICICI Bank and Yes Bank are a few of the financial institutions that have provisionally shut down accounts of some top-performing exchanges. Anonymous sources have said that

    Alleged Suspicious Activities Lead to the Suspension of Top Indian Exchanges

    | 2018/01/22 9:30 pm
  • Several South Korean exchanges have announced that they will ban foreign residents from trading cryptocurrencies.  Tighter Cryptocurrency Regulations The South Korean government was the cause of major turmoil in the global cryptocurrency market as rumors spread that they were planning to ban cryptocurrency trading across the country. Soon after the news was released, the total cryptocurrency market valuation dropped by almost 50%, causing major financial losses for a lot of traders worldwide. Later, government officials

    South Korean Exchanges Are Barring Foreign Residents from Trading

    | 2018/01/21 3:00 am
  • The effect this one Southeast Asian nation has upon crypto markets is quite astounding. South Korean exchanges dominate trade in the region, and constant government threats of clampdowns has caused waves of nausea among investors elsewhere on the planet. Contrary to multiple fearmongering reports on mainstream news sites, including Reuters, Bloomberg, and CNBC, South Korea will not close crypto exchanges. In fact, according to the chairman of the South Korean Fair Trade Commission, Kim Sang-jo,

    Impossible to Close Exchanges Say South Korean Regulators

    | 2018/01/19 1:00 pm
  • Bitstamp CEO Nejc Kodrič has sought to distance his platform from Coinbase’s technical problems as exchanges worldwide feel the strain of mass adoption. Bitstamp Prioritizes ‘Good Communication’ In a message to users Thursday, Kodrič sought to reassure traders that despite “lengthy delays” and “satisfaction levels plummeting,” Bitstamp would work to resolve capacity issues. “…The best way to attend to doubts and fears is by providing good communication and constant updates, which is why I want

    Exchange Wars: Bitstamp Calms Users As Blockchain Takes On Coinbase

    | 2018/01/19 10:30 am
  • 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