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The new South Korean cryptocurrency account system has entered into force nationwide today, ending the current practice that allowed for anonymous trading of cryptocurrencies. Traders must open real-name accounts at the same banks as their exchanges in order to deposit money to trade cryptocurrencies. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies … Read more
It’s not the sexiest headline in the world, but so far things with bitcoin seem to be going relatively well in Japan, according to a Bank of Japan (BOJ) Director-General. With increasing calls from world leaders to unite and devise a global regulatory regime for cryptocurrencies, Japan has taken a strikingly different approach. Also read: Tezos … Read more
As News.Bitcoin.com learned two weeks ago, one of Europe’s largest banks, Nordea, will enact a company-wide policy to effectively ban its employees from owning or trading in cryptocurrency. Citing risks and perhaps looming regulation, the bank decided to act preemptively. Also read: Whistleblower Details Big Bank’s Plans to Prohibit Employees Owning Bitcoin Nordea Bank Bans … Read more
Visa, the world’s largest credit card company, is widely regarded as being hostile to Bitcoin. It would seem intuitive that a traditional financial provider should look unkindly on anything that threatens its hegemony. Publicly, though, the company has had very little to say about Bitcoin, preferring to focus on matters within its own domain. In … Read more
Having issued a stark warning to “all parties” against any use of “virtual currency”, Bank Indonesia has now joined forces with local police to prevent bitcoin transactions where they are most likely to take place – in Bali. The island, a popular holiday destination with tourists spending both fiat and crypto, has been targeted by … Read more
Cryptocurrencies have been threatened at one point or another by nearly every country on the planet. Rarely does a government venture beyond rhetoric. Those resorting to crackdowns are often met with greater public appetite for decentralized virtual money, making all that initial fuss an exercise in futility. Be they communist strongholds or liberal democracies, bitcoin … Read more
Headlines roared late last night in the western hemisphere, morning in the east, as mainstream media outlets breathlessly ran with an initial report from a legacy wire service: the Republic of South Korea is to ban cryptocurrency. The truth is more subtle, and it’s fast becoming an object lesson in fear, uncertainty, and doubt (FUD). … Read more
The Ho Chi Minh City Customs Department has revealed the number of known mining rigs imported into Vietnam in 2017. Over 7,000 rigs were brought into the country, mostly from China, with over 5,000 entering since November. While Vietnam is clamping down on the use of bitcoin as a means of payment, mining rigs are … Read more
South Korea’s cryptocurrency exchanges have implemented changes to comply with the government’s mandates announced last week. In addition to restricting certain customers from trading cryptocurrencies, the exchanges have stopped issuing new virtual accounts in accordance with the regulators’ real-name requirements. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Government’s Mandates … Read more
South Korean banks are further distancing themselves from bitcoin following the government’s ”emergency” regulation which bans them from direct involvement in cryptocurrency-related activities. Shinhan Bank and KB Kookmin Bank have announced that they are discontinuing their points for bitcoin exchange services in January. Also read: South Korea Clarifies Position After Reports of Possible Ban on All … Read more
