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More Cryptocurrency Friendly Regulations in South Korea
Regulations
More Cryptocurrency Friendly Regulations in South Korea?
South Korea might be looking to revise its stance on cryptocurrency to become more crypto friendly. This comes following a decision by lawmakers from the G20 countries to regard cryptocurrency as financial assets. Some are hoping that this decision will lead to a reversal of the increasingly harsh cryptocurrency regulations in South Korea, which have followed since last year’s ban of ICOs and “related activities”. The G20 countries are a…
Aniston Scam
Regulations
Texas Regulators Shut Down Crypto Scam, Falsely Using Jennifer Aniston and Prince Charles for Promotion
 Texas State Securities Board has eliminated another deceitful outfit from the crypto sphere, as the regulators issued an emergency cease-and-desist order against a crypto company Wind Wide Coin, citing illegal, deceptive and fraudulent behaviour. Wind Wide Coin boasted of achieving 900% daily profits with an automatic trading bot that exploited inefficiencies and volatility of the crypto markets. Such eye-watering numbers should have already been a sign of potential scam for…
Japan Introduces Tighter Regulations for Crypto Exchanges
Regulations
Japan Introduces Tighter Regulations for Crypto Exchanges
Japan’s Financial Services Agency (FSA) is set to implement further regulatory restrictions on domestic cryptocurrency exchanges. According to local media outlets, the financial watchdog is introducing the new measures to prevent another disastrous heist, like the one that destroyed the Coincheck exchange in January 2018. The exchange platform was relieved of more than $500m worth of NEM tokens. According to the new rules, which are expected to come into effect…
Korea to Ease Cryptocurrency Regulations
Regulations
Korea to Ease Cryptocurrency Regulations
Korea has a new governor Yoon Suk-heun who will lead the Financial Supervisory Service (FSS). He has announced that the regulations related to the cryptocurrency market in Korea will become eased to help the market thrive in a technological country like Korea. Yook Suk-heun was a visiting professor of business administration at Seoul National University. He was named to lead the Financial Supervisory Service and will begin work tomorrow, May…
Norway Banning Bitcoin
Regulations
Norway Banning Bitcoin?
A ruling from Norway, between that of a Norwegian crypto investor and the Scandinavian banking behemoth Nordea, has concluded a court case concerning how accounts on cryptocurrency exchanges are managed by banks. The Oslo court ultimately ruled in favor of the bank, arguing that the ”elevated risk” of Bitcoin trade allowed the Scandinavian bank to close a user’s account. This matter was taken to court by a Norwegian man named…
CFTC Chairman Does Not Expect to See Crypto Regulation Resolved Anytime Soon
Regulations
CFTC Chairman Does Not Expect to See Crypto Regulation Resolved Anytime Soon
Commodity Futures Trading Commission (CFTC) chairman Christopher Giancarlo has recently spoken on CNBC’s “Fast Money” segment, touching the topic of cryptocurrency regulation. Many believe the lack of clear regulatory framework is the biggest obstacle, stopping big institutional investors from entering the virtual currency market. The chair of CFTC was skeptical about the regulation being introduced in the immediate future, saying there are several major hurdles, hindering the process of regulators.…
Clear Regulations Result in High Volumes of Crypto Trading, According to Morgan Stanley
Regulations
Clear Regulations Result in High Volumes of Crypto Trading, According to Morgan Stanley
Morgan Stanley has been researching the financial sector for decades and gained universal acclaim as it was able to provide governments and other institutions valuable insights, which have significantly aided their development. The company has just released a new research which targeted crypto markets, specifically exchanges. The research measured trading volumes in different regions and estimated a number of total crypto exchanges. Researcher team, led by analyst Sheena Shah, found…
Regulations
France Slashes Tax Rate on Cryptocurrency Sales from 45% to 19%
France has cut the tax rate on cryptocurrency sales from 45% to a flat rate of 19% in a reclassification move by the Council of State. The Conseil d’Etat (Council of State), France’s supreme overseer on matters of legal administration announced on Thursday that sales of bitcoin would no longer fall under the classification of commercial or non-commercial activity. It is now categorised as moveable property and capital gains taxes…
High Court of Delhi Exploring Whether Cryptocurrency Ban Is Unconstitutional
Regulations
High Court of Delhi Exploring Whether Cryptocurrency Ban Is Unconstitutional
The Reserve Bank of India has been making the rounds recently, following the indirect ban the bank imposed on cryptocurrency related dealings earlier this month. However, the High Court of Delphi has now allegedly notified the Reserve Bank of India (RBI), the Goods and Services Tax Council and the Ministry of Finance that it believes the ban violates the Indian constitution. This comes following a petition intended to showcase the…
EU Parliament Votes in Favour of Stricter Crypto Regulation
Regulations
EU Parliament Votes in Favour of Stricter Crypto Regulation
It seems that the crypto sector has finally caught an eye of the European Parliament as the regulators voted for increased regulation towards wallet providers and digital currency exchanges. The latest measures come as a part of the updated EU Anti-Money Laundering Directive. The vote in question was whether to support an agreement with the European Council signed in December 2017. The agreement partly aimed to prevent the use of…