S. Korea: Major Banks’ Income From Crypto Accounts Up X36 From 2016
Income from crypto account fees for South Korean banks soars, 36 times higher than in 2016 #NEWS Go to Source Powered by WPeMatico
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Commission Income From Crypto Accounts Jumped 36 Times for South Korean Banks
South Korean banks have been providing virtual account services to cryptocurrency exchanges and earning commissions from them. According to data obtained by the country’s Financial Supervisory Service, banks made 36 times more in commission income from crypto exchanges last year than the previous year. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto … Read more
World’s Fourth Largest Bank MUFG To Launch Own Cryptocurrency In 2018
MUFG, the fourth largest bank in the world, has had plans to develop its own cryptocurrency as early as 2016. Now, as local sources report, the MUFG coin is set to finally launch in FY 2018. #NEWS Go to Source Powered by WPeMatico
Cryptocurrencies Occupying Minds of Banks and Regulators
It is not only the individuals and the investors, banks and other financial regulators are deep in thought about this crypto mania. #ADOPTION Go to Source Powered by WPeMatico
South Korean Banks Reverse Decisions on Cryptocurrency Accounts
South Korean banks have backtracked from their decisions to stop servicing cryptocurrency accounts as crypto investors protested and the government re-discussed its policy. The country’s 6 major banks have been told that they must follow through with the original plan and install the system that would end the anonymous trading of cryptocurrencies. Also read: South Korea … Read more
Metropolitan Bank Halts All Cryptocurrency-Related Wire Transfers
In a move that will have far-reaching implications, Metropolitan Bank Holding Corp. has halted all cryptocurrency related wire transfers, effective immediately. #NEWS Go to Source Powered by WPeMatico
South Korea Announces Crypto Traders Could Face Fines Under New System
The South Korean government has announced that cryptocurrency traders will be fined if they do not convert from existing virtual accounts, which allows for anonymous trading, to real-name accounts. Regardless of their service levels to crypto exchanges, banks have been ordered to implement the new system this month as planned. Also read: South Korea Urges 23 … Read more
Ukraine Wants A National Digital Currency, Not Its Own Cryptocurrency
Ukraine central bank is considering an e-hryvnia rather than national crypto, at least for now #NEWS Go to Source Powered by WPeMatico
Strict Regulations Force South Korean Banks to Stop Servicing Cryptocurrency Exchanges
Following the inspections of six major banks this week, South Korean regulators have uncovered some inadequate internal controls for handling cryptocurrency exchanges. Given the government’s strict rules, some banks have decided to stop providing services to cryptocurrency exchanges instead of overhauling their systems further to comply with the regulations. Also read: South Korea Urges 23 Countries, … Read more
Ripple Hate: Is Ripple a Wolf in Sheep’s Clothing?
Since Ripple’s recent boom, it has polarized the community with its centralized nature and its serving of the much-despised banking sector. #ANALYSIS Go to Source Powered by WPeMatico
