• As prices tumble and the markets make a huge correction from their spike in early January, the banks are battening down their hatches. Leading UK bank Lloyds joined its counterparts in the US by banning the purchase of Bitcoin and other cryptocurrencies for its customers using credit cards. Credit card issuers fear that people will fall into debts that they will have to shoulder if they buy crypto and the prices continue to fall. Bitcoin

    UK Bank Lloyds Doesn’t Want Anyone Buying The Bitcoin Dip

    | 2018/02/05 4:30 am
  • The crypto clampdown continues in China. The latest round finds cryptocurrency ads disappearing from Chinese social media. The last few months have not been that gentle to cryptocurrency in mainland China. First, the People’s Bank of China banned the use of ICOs, saying that a whopping 90% of them were fraudulent. Later on, Bitcoin mining came under attack as the national government sought to end the practice and transition miners into new occupations. Now cryptocurrency

    Cryptocurrency Ads Disappear from Chinese Social Media

    | 2018/02/04 6:00 am
  • The New York Power Authority CEO has recommended that the organization approve a request for cheap energy towards Bitcoin mining in the town of Massena, New York. From Smokestacks to Server Racks The state of Washington immediately comes to mind when talking about bitcoin mining operations in the US. But New York? NCDC (North Country Data Center Corp), a subsidiary of Coinmint, is planning to set up a mining center at a closed site for

    NY Power Authority CEO Wants to Give Cheap Electricity to Mine Bitcoin

    | 2018/02/02 5:30 am
  • Japan’s Financial Services Agency raided the offices of the hacked Coincheck cryptocurrency exchange to see if they had adequate funds to repay customers. The recent hack of the Coincheck cryptocurrency exchange in Japan sent a shock wave through the crypto world. The total value of the loss was staggering, coming in at around $530 million. The Financial Services Agency (FSA) originally gave the exchange essentially a slap on the wrist, but due to the seriousness

    Japanese Authorities Raid Hacked Coincheck Exchange

    | 2018/02/02 1:45 am
  • Can Bitcoin be even better than the Economic Freedom Index in measuring the degree of economic freedom in the world’s nations? Fear, Uncertainty, Doubt Read the mainstream press about Bitcoin, and you’ll see headlines such as China Bans Bitcoin, South Korea Too!, Russia Plans to Ban Bitcoin, India Says Bitcoin is Not Legal Tender etc. Meanwhile, a dubious group of regulators appears to be waiting on the sidelines ready to crack down with swat teams and

    Why Bitcoin Can Be The New Economic Freedom Index

    | 2018/02/01 9:30 pm
  • South Korea’s government has confirmed it has “no intention” of banning or “suppressing” cryptocurrency trading in fresh comments on the industry. ‘No Intention To Ban’ In comments Wednesday quoted by Reuters, finance minister Kim Dong-yeon, who earlier in January said that a shutdown was still a possibility, finally ended apprehension surrounding the future of cryptocurrency trading in the country. Kim had faced a 200,000-strong petition demanding he be fired from his position after the comments,

    South Korea Government ‘Will Not Ban Or Suppress’ Cryptocurrency – Minister

    | 2018/01/31 6:30 am
  • After much “will they or won’t they”, the South Korean government has finally implemented cryptocurrency trading regulations. What will that mean for the crypto market? Let’s find out. The big news in the cryptocurrency space today is that the long-awaited South Korean regulations have come into effect. This is a topic that made headlines earlier this month when rumors that the South Korean government would implement an outright ban on cryptocurrency hit the press. These

    Here’s What The South Korean Regulations Mean For The Cryptocurrency Market

    | 2018/01/30 6:00 pm
  • The UK prime minister Theresa May has said the government “should be looking at cryptocurrencies and Bitcoin very seriously.” ‘We Need To Look At It’ In rare direct comments to Bloomberg at the ongoing World Economic Forum 2018 in Davos, May went on record to state that crypto’s possible use “particularly by criminals” is cause for additional scrutiny from lawmakers. “…It is something that has been developing, obviously, increasingly developing; I think it’s something that

    UK ‘Should Look At Bitcoin, Crypto Very Seriously’ – Theresa May

    | 2018/01/25 10:00 am
  • 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
  • An op-ed in the New York Times theorizes that the IRS fears Bitcoin due to tax evasion. What actions could the IRS take to combat this? The Internal Revenue Service (IRS) is one of the most feared federal agencies in the United States. They can garnish wages, levy fines, put liens on personal property, and even send you to jail for failing to pay the appropriate taxes. Which is why it’s interesting to see an

    Does the IRS Fear Bitcoin?

    | 2018/01/23 11:00 am
  • Each country has its own systems for tax evaluation and collection, and some countries are stricter than others. One of the major issues governments have with cryptocurrencies is the difficulty in taxing profits made on trading. The United Kingdom’s HMRC (Her Majesty’s Revenue and Customs department) found this out the hard way. Finance experts have warned that a loophole which reduces crypto gains to zero can be exploited on tax returns in the UK. It

    Tax Loophole Found for UK Crypto Profits

    | 2018/01/21 9:00 am
  • 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
  • Countries across the world remain divided over the cryptocurrency revolution that has emerged over the past year. Some, such as China, strive to eradicate all instances of it, but others, including Switzerland, are embracing the blockchain with open arms. Ahead of a potential crypto G20 summit which could result in a wave of regulatory action, Switzerland has emerged in full support of the technology as voiced via Economics Minister Johann Schneider-Ammann. Crypto Nation The affluent

    Switzerland Wants a Crypto-Nation, France and Germany Want Regulation

    | 2018/01/20 4:00 am
  • Retailers in Bali are being forced to stop accepting bitcoin at their shops and restaurants. The actions of governments and regulatory authorities in Asia have been a hot topic in the cryptocurrency space over the last few weeks. The recent crash is widely seen as being driven by reports that the South Korean government indicating it is set to crackdown on cryptocurrency usage. A similar concern is hanging over the already heavily regulated Chinese market

    The Indonesian Government Is Cracking Down Further On Bitcoin Use In Bali

    | 2018/01/20 1:00 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
  • When markets are volatile and crashes occur, the majority of people are cashing out and taking profits or panic selling. There are some, however, who see opportunity in the sea of red and buy up at lower prices. This is exactly what has been happening in Singapore this week when Bitcoin ATM machines ran dry. According to reports, Bitcoin machines in downtown Singapore sold out of the virtual currency yesterday as prices plummeted below $10,000

    Singapore Bitcoin ATMs Sold Out, Trading Still Allowed

    | 2018/01/19 6:30 am
  • Markets are tumbling during Asian trading today as fears escalate of further clampdowns across the region. Authorities in China seem hell-bent on preventing their citizens trading in cryptocurrencies, which may have sparked a wave of panic selling across the board. According to reports, the Chinese government plans to widen its crackdown on domestic crypto trading by targeting methods for doing so, including over-the-counter trading, offshore sites used for centralized trading, and peer-to-peer trading of large

    China Increases Pressure on Crypto Traders

    | 2018/01/17 8:45 am
  • The former deputy governor of France’s central bank is to lead a task force examining how to regulate cryptocurrency in the country. ‘We Want A Stable Economy’ As local media outlet Les Echos reports Monday, Jean-Pierre Landau will look into “directions for regulatory development” pertaining to cryptocurrency. The move was announced by Minister for the Economy Bruno Le Maire, who in a press conference Monday morning reiterated previous commitments to raising the topic of Bitcoin

    France: Bitcoin Skeptic To Lead Regulation ‘Development’ Task Force

    | 2018/01/16 7:00 pm
  • Bitcoin pundits are forecasting a fresh bull run as news from South Korea and the cryptocurrency’s price turn markets increasingly optimistic. Seoul To Regulate After ‘Sufficient Consultation’ After the South Korean justice minister caused “confusion and anger” last week by saying the government would ban cryptocurrency exchanges, local news media report, the latest statements from Seoul indicate a significant U-turn. “The proposed shutdown of exchanges that the justice minister recently mentioned is one of the

    South Korea Won’t Ban Bitcoin Trading as Price Chart Turns Bullish

    | 2018/01/15 7:00 am
  • 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
  • With regulation coming thick and fast across Asia the effects on the markets can be seen instantly. Last week a bucket-load of FUD caused a sell-off when a number of large news agencies misreported that South Korea was banning crypto trading. This wasn’t the case at all and the country remains open. Russia could soon be joining them as it prepares to vote on legalizing crypto exchanges. According to Newsweek, citing Russian media, the Ministry

    Russia Set to Vote on Legalizing Cryptocurrency

    | 2018/01/15 2:00 am
  • Even though many countries are interested in, and indeed are pursuing, the creation of national state-run virtual currencies, Singapore isn’t one of them. The digital currency revolution is here, and it’s not just reserved for Bitcoin and other decentralized cryptocurrencies. More and more countries are exploring the benefits of having a cashless society. Sweden has previously voiced their desire to investigate the development of an e-krona, Israel is looking into creating a digital shekel, while

    Singapore Won’t Be Part of the State-controlled Crypto Movement

    | 2018/01/12 9:00 pm
  • Bitcoin’s explosive growth is dramatically disrupting the monetary and banking system to such an extent that banking and government authorities are sounding the alarm. In effect, the chief of the U.S. Treasury now fears that Bitcoin will become like a “Swiss Bank Account.” Bitcoin Defies the Banking System Bitcoin lets you have your private bank in your electronic wallet. As a result, Bitcoin will eventually render the fiat monetary and banking system obsolete. Hence, U.S. Treasury

    US Government Fears Bitcoin Will Be the Next “Swiss Bank Account”

    | 2018/01/12 6:30 pm