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The U.S. Commodity Futures Trading Commission has filed charges against three separate companies for engaging in fraudulent schemes involving cryptocurrencies. The cases include fraud and misappropriation of bitcoin and litecoin. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations CFTC Sues Crypto Operators The U.S. Commodity Futures Trading Commission (CFTC) filed civil … Read more
A South Korean lawmaker has shown how the government’s announcement policy enabled market manipulation last week following the news of possible cryptocurrency trading shutdown. According to his evidence, reporters and officials had 40 minutes to buy the dip as the price of bitcoin in Korean won reversed and rallied. Also read: South Korean Officials Caught Trading … Read more
Russia’s national cryptocurrency, the cryptoruble, is unlikely to be created in the foreseeable future, according to the Bank of Russia. The central bank believes that it could be used to bypass regulations. Meanwhile, the finance ministry wants to use the cryptoruble for cross-border payments. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto … Read more
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
The South Korean Fair Trade Commission (KFTC) does not have the authority to close cryptocurrency exchanges. “It is impossible in reality,” said the KFTC chairman. The agency is currently investigating 13 major exchanges operating in the country for alleged violations of the e-commerce law. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto … Read more
Amid regulatory uncertainty, South Korean cryptocurrency exchange Upbit has grown rapidly, offering 121 cryptocurrencies and over 200 trading pairs. Backed by Kakao Corp, the platform is now the largest crypto exchange by volume globally. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Upbit Tops the Chart South Korean … Read more
The advisors of the Venezuelan government have recommended that the country’s oil-backed cryptocurrency, the petro, be sold in private placements at a discount of up to 60 percent. 38.4 million petros, with a face value of around $2.3 billion, could go on sale starting on February 15. Also read: South Korea Urges 23 Countries, EU, and … Read more
A national petition against extreme cryptocurrency regulations in South Korea has exceeded 200,000 signatures, the requirement for the government to respond. The petition entitled “Has the government ever dreamed a happy dream for the people?” was filed on December 28. Meanwhile, another related petition calls for the removal of the governor of the country’s Financial … Read more
New cryptocurrency exchanges are rushing to launch in South Korea despite regulatory uncertainty due to high demand and lucrative business models. Ten crypto platforms are expected to open for business in the first half of this year, including two run by Kosdaq-listed companies. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on … Read more
Venezuela’s president Nicolas Maduro has called for 10 other countries to adopt his planned oil-backed cryptocurrency, the petro. This move follows the country’s parliament declaring the issuance of this new currency illegal. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Maduro’s Proposal Maduro held a meeting of the … Read more
