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International Watchdog to Introduce Binding Regulations for Cryptocurrency Exchanges

The Financial Action Task Force (FATF) – a multi-national agency tasked with combating global financial criminal activity, will discuss developing and introducing legally binding rules for governing cryptocurrency exchanges later this month. Reuters reports that the Paris-based agency – comprised of 37 countries – will…

India Hit with Crime Wave as Cryptocurrencies Continue to Gain Popularity

It seems that every time a new technology emerges, so too do ne’er-do-wells seeking to exploit that technology for their own gain. Cryptocurrencies are no exception. Bitcoin’s meteoric rise last December led to a whole slew of hacks and scams being perpetrated around the world.…

The Cryptocurrency Market Needs a Solution to the Hacking Menace

The Coinrail hack of June 10, 2018, led to the theft of more than $40 million in cryptocurrency. Although not one of the more prominent exchange platforms, the Coinrail hack is yet another reminder of the tenuous nature of the emerging digital currency landscape. More…

Binance CEO: Bitcoin Price Drop is Business as Usual

Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange by means of trading volumes, said that the recent decline in Bitcoin’s price is historically normal.  Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has reached recently reached its’ three-month low. At press time,…

South Korea Claims $28M Tax From Bithumb But Finds No ‘Illegal Activity’

South Korea’s National Tax Service (NTS) has requested $30 billion won ($28 million) in taxes from major cryptocurrency exchange Bithumb in a move which has gained positive feedback from the community. Bithumb ‘Will Not Object’ To Tax Bill Local media reported on June 8 that Bithumb,…

68% of Cryptocurrency Exchanges Are Not Fully KYC Compliant

A recent study held amongst 25 different cryptocurrency exchanges across Europe and the U.S. revealed that only 32% perform full identity checks on their users. This might prompt non-compliant companies to fundamentally change their protocols as soon as new anti-money laundering EU regulations come into…

Coinbase to Become First Broker-Dealer to Offer SEC-Regulated Crypto Securities

In an official announcement earlier today, Coinbase revealed its plans to become the very first crypto broker-dealer, capable of offering blockchain-based securities which are under the purview of the Securities and Exchange Commission (SEC). Asiff Hirji, acting President and Chief Operations Officer (COO) of Coinbase,…

Bitfinex Survives DDoS Attack Hours After ‘Infrastructure’ Outage

US cryptocurrency exchange Bitfinex has recovered after a two-phase outage saw hackers launch a DDoS attack on its website. ‘Back To Normal Operations’ Updates on the exchange’s dedicated incident log confirmed the attack lasted approximately two hours, beginning around 13:00 UTC. In a fresh update,…

Crypto Exchange Giant Coinbase Announces Opening of Japan Office

Coinbase has officially opened its office in Japan, paving the way to allowing Japanese cryptocurrency investors to use the platform and establishing a foothold in the Japanese cryptocurrency market. Opening Doors to the Japanese Market Coinbase launched their office in Japan today, according to a…

Indonesia Legitimizes Cryptocurrencies, Classifying Them as Commodities

Indonesia’s Trade Ministry Futures Exchange Supervisory Board (Bappebti) has ruled that cryptocurrencies will be future trading subjects or commodities at the country’s stock exchange, despite the fact that Bank Indonesia (BI) still does not recognize cryptocurrencies as valid means of payment.  Legitimization in Indonesia Cryptocurrencies…

HitBTC Plans To Allow Japanese Trading Via ‘Subsidiary’ By Q3 2018

Cryptocurrency exchange HitBTC is pushing ahead with plans to establish a Japanese subsidiary after banning accounts allegedly linked with the country. Japanese Traders Shut Out For ‘Compliance’ HitBTC announced yesterday via the company’s official blog that it was already “actively hiring for the local office”…