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A directive affecting the crypto sector in Europe has been adopted by the EU Council. The document updates the anti-money laundering legislation of the European Union to address, among other issues, “the risks linked to virtual currencies.” The new rules aim to reduce anonymity for both users and transactions with requirements for know-your-customer procedures that … Read more
South Korea’s government is widening its probe on cryptocurrency exchanges, particularly the use of corporate accounts which the regulators say can lead to money laundering. This announcement follows the prosecutors launching an investigation on the country’s largest crypto exchange, Upbit. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Widening the Crypto Probe South Korea’s … Read more
The decree to regulate cryptocurrencies and initial coin offerings in Thailand goes into effect on Monday. The government has also revised the country’s tax code to add crypto taxation. Sellers of digital tokens will face a fine or even jail time if they fail to register with the regulator within 90 days. Also read: Yahoo! Japan … Read more
The crypto ban in Pakistan is proving to be not as effective as expected. If anything, the State Bank has barred commercial banks and financial firms from dealing in cryptocurrency which, of course, makes life harder for local exchanges. Individual traders, however, are finding alternative ways to acquire or sell cryptocurrencies, defying the warnings and … Read more
There are reportedly more than 100 exchanges in South Korea, most of which are not using the government’s real-name system. None of the small and medium-sized exchanges can use this system since banks have opted to only provide this service to the country’s largest exchanges. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space 30% … Read more
Zimbabwe’s central bank issued Circular to Banking Institutions No. 2/2018: Virtual Currencies, effectively banning all crypto activity in the African nation. Businesses dealing in decentralized currencies have 60 days to comply. Also read: India’s Supreme Court Keeps Ban on Banks’ Crypto Services, For Now Zimbabwe Bans Crypto Issued 11 May, the Reserve Bank of Zimbabwe, … Read more
The first initial coin offering (ICO) by a publicly traded company in Thailand has begun trading on a couple of local exchanges. Meanwhile, the regulators are still drafting the legal framework for cryptocurrencies and token sales. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space First Public Company to Launch ICO The launch of an … Read more
United States Securities and Exchange Commission (SEC) Commissioner, Hester Peirce, delivered a speech before the Medici Conference earlier this month discussing many issues pertinent to ICOs. Mrs. Peirce indicated that the SEC is open to discussion of developing a regulatory sandbox for ICOs, however, expressed a number of concerns surrounding the legislative model. The commissioner … Read more
Vitalik Buterin, Ethereum’s cofounder, is increasingly finding himself target of very public rumors about his role in the project’s supposed love of secrecy. Charges of lacking transparency are equivalent to mortal sins in the cryptocurrency space. Ethereum too is particularly sensitive about accusations along these lines, especially in the ongoing light of a possible US … Read more
The Chairman of the National Securities and Stock Market Commission of Ukraine has indicated the regulator favors a decision to recognize cryptocurrencies as financial instruments. Timur Khromayev thinks it’s time to take the matter to the country’s Financial Stability Council. The point of no return has been passed, he says. Also read: Ukraine to … Read more
