According to Business Korea, hundreds of minor crypto exchanges in South Korea could run smack into heightened scrutiny for failing to abide by proposed enhanced know-your-customer (KYC) regulations, which would require exchanges to only provide services to users with “real-name accounts” issued by local financial institutions. Earlier this month, the Financial Action Task Force, an intergovernmental organization under the G7, proposed guidelines that encourage all crypto exchanges to share customer data. Although industry executives and experts have indicated that the ruling of the FATF is highly impractical and may be counterproductive, many countries in the G7 and the G20 –
JP Morgan chart analyst and technical market strategist Jason Hunter says the S&P 500 is not out of the woods yet after bouncing back this month from massive losses in the worst December since the Great Depression. S&P 500 Climbing toward Resistance The January rally in U.S. stock prices pushed the benchmark up more than 12 points over its Christmas Eve low, rebounding more than 5 percent in the first month of 2019. But that doesn’t necessarily mean stocks are headed into a bull market as the S&P 500 approaches a key resistance line at 2,711. In a note to
Several of South Korea’s top crypto exchanges have found themselves in hot water, with executives at a couple of exchanges facing criminal charges and jail time.
According to a news report on the Korean website Blockinpress, the CEO of Komid, a Korean crypto exchange, has received a three-year prison sentence for committing fraud against investors by artificially inflating the exchange’s actual trading volume. Another company executive also received a sentence of two years for his role in these crimes.
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It’s been a little over a month since the Bitcoin Cash (BCH) network fork which resulted in a blockchain split. Besides the severed chain, the hash war was quite damaging to say the least, leaving BCH supporters to steadily pick up the pieces in order to bring the world a pure peer-to-peer version of electronic cash.
Target and Tiffany are among the largest retailers in the U.S. stock market that are reportedly at risk of facing a 2008-level sell-off in the months to come. On average, 95 of the largest retailers in the global market listed on the S&P Index fell by around 17 percent in the past three months, with
The post Retailers Like Target May Face 2008 Level Sell-Off, US Stock Market in Deep Trouble? appeared first on CCN
According to a local Romanian news outlet Ziar de Cluj and others, Vlad Nistor — the CEO of Romania-based Bitcoin exchange CoinFlux — has been detained on behalf of the US government and is awaiting extradition. He was arrested in the city of Cluj-Napoca on Tuesday, according to another outlet. The crypto exchange has not disclosed
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Boxing superstar Floyd Mayweather and rap producer DJ Khaled face a legal battle for serving as celebrity endorsers to an initial coin offering (ICO) accused of fraud. The founders of the allegedly fraudulent ICO were arrested by American criminal authorities back in April.
ICO Promotion Blowback
Celebrity gossip tabloid TMZ reports that Floyd Mayweather and DJ Khaled have been slapped with a lawsuit from investors who accuse them of participating in a multi-million dollar scam. The lawsuit revolves around the Centra Tech ICO that raised more than $ 32 million from thousands of investors last year, supposedly to build a suite of financial products including a cryptocurrency-backed debit card supported by Visa and Mastercard.
Brazil’s Administrative Council for Economic Defense (CADE), the country’s antitrust watchdog, has recently sent 10 cryptocurrency exchanges and an OTC trading desk a questionnaire they have to answer by October 19, or face a fine that’ll go up to $ 25,000. According to local news outlet Portal do Bitcoin, the questionnaire was sent on October 1,
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TRON (TRX), a blockchain infrastructure for a decentralized internet, announced this week that TronWallet, a peer-to-peer crypto wallet dedicated to TRON users, has officially released several new security features, including Fingerprint, Touch ID and Face ID, for its Android and iOS wallets. You can now use fingerprint and face detection to send $ TRX and vote for the #TRON Super Representatives […]
Money attracts thieves and masterminds of what could be the largest Bitcoin Ponzi scheme in history are facing justice. Vivek Bhardwaj, a software developer and brother of Gain Bitcoin founder and CEO Amit Bhardwaj, was brought to Delhi, India on Sept. 20 to face questioning and likely criminal prosecution. One estimate puts the stolen amount at $ 300 million USD that affected more than 2,000 victims, although the exact figure is unknown because Indian police have been unable to gather electronic records after the suspects destroyed at least three databases.
From Washington to Moscow, cryptocurrencies have entered the agenda of those who share a vocation to rule and regulate. Following the congressional summer vacation, the House of Representatives passed a bill that will enable the Treasury to investigate crypto transactions, while a Congressman plans to introduce three drafts supporting the crypto industry. Also in The Daily on Sunday, UK lawmakers push for fintech rules, Russian bankers admit strong demand for crypto services, and the Financial Action Task Force is preparing to present global crypto standards in October.
Blockchain-enabled independent power producers in Thailand pose such a threat to the state-run power generator and distributor that they will be required to pay extra in order to cushion the state utility from the disruption. According to Viraphol Jirapraditkul, a member of Thailand’s Energy Regulatory Commission (ERC), new regulations are currently being drafted which will
The post Thailand’s Blockchain Solar Power Producers Face Extra Fees to Offset State Utility Losses appeared first on CCN
Chart for ETC/XBT (1W)
Ethereum Classic (ETC) has been fully focused on immutability and decentralization from the very beginning, but in markets like these where most investors are focused on quick returns rather than long term investments in promising technologies, concepts of immutability and decentralization did not matter much in itself. However, what most investors failed to realize was that this amalgamation of immutability and decentralization is what makes Ethereum Classic (ETC) the best fit for emerging technologies like the Internet of Things (IOT) and the Fourth Industrial Revolution.
OpenLedger is fully decentralised crypto trading platform, one that plans to totally revamp the way we trade cryptocurrency online. Traditionally, cryptocurrency exchanges that claim to be ‘decentralised’ are not. The OpenLedger DEX however is built upon a fully decentralised platform, allowing for a safer and more transparent crypto trading environment.
What are the problems with centralisation?
By having a central unit, approving and handling exchange transactions, your assets and personal data are susceptible to hacks.
A Saturday evening in the cryptocurrency world is always interesting for various reason. Although this Saturday has not seen any major bullish momentum, the Binance Coin price is still rising rapidly. Its value has surpassed $ 14 yet again, whereas all other cryptocurrencies are in the low red.
Binance Coin Price Goes up
In the financial world, nothing can go up in value indefinitely. This is also true in the world of cryptocurrency, where volatility is the name of the game first and foremost. For the Binance Coin price, this volatility has not had too much of an impact just yet. Its value still remains near the $ 14 level despite some losses for Bitcoin and Ethereum.
A lot of research has been conducted regarding the future of cryptocurrency mining. Not all of these findings are overly positive. In the case of currencies using the Equihash algorithm, it seems a large amount of the combined hashrate is provided by ASIC hardware. It’s a worrisome development which could introduce a lot more 51% attacks in the future.
The Future of Equihash May Be in Peril
Cryptocurrency enthusiasts all over the world have witnessed an influx of 51% attacks over the past few months. Currencies such as Bitcoin Gold, Electroneum, and Verge have all suffered attacks. Although the full repercussions of these developments remain unclear, it seems highly likely that more 51% attacks are looming around the corner.
Public interest in cryptocurrency has led to a rush of recent advertising, mostly on social media and the internet. Much of that advertising has focused on driving consumer interest in contributing money to an Initial Coin Offering or ICO. Unlike other forms of private investment, which are off limits to all but wealthy, accredited investors, interest in cryptocurrency extends beyond Wall Street to Main Street investors and this has regulators worried. Where some see opportunity, regulators see potential fraud and abuse.
Holders of cryptocurrency in Indonesia are being warned to sell of their digital assets as Bank Indonesia is set to ban Bitcoin on behalf of the government sometime in 2018.
While everyday individuals are embracing Bitcoin and other cryptocurrencies, a number of national governments are not. Those who trade in digital currency in Indonesia are being warned to sell off what they have due to the fact that the government, acting through Bank Indonesia (BI), is set to ban all forms of cryptocurrency in the upcoming year.