Category: N-Economy
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Top Three South Korean Cryptocurrency Exchanges Expand Overseas
Three of South Korea’s largest cryptocurrency exchanges are expanding overseas. Upbit has launched a Singaporean crypto exchange with 156 coins and 221 trading pairs. Coinone has established a crypto exchange in Malta while Bithumb is planning to launch a security token platform in the U.S. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Bithumb to…
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China Updates Crypto Ranking, Downgrades BTC Further
China’s Center for Information and Industry Development has updated its ranking of 33 crypto projects, evaluated in three separate categories as well as overall. BTC has been downgraded further since the center’s previous update while EOS and Ethereum still top the overall ranking. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space New Ranking China’s…
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Hong Kong Regulator Announces New Plans for Cryptocurrency Industry
The Securities and Futures Commission of Hong Kong has announced new plans to regulate the cryptocurrency industry. The regulator issued two circulars on Thursday outlining new rules for crypto exchanges as well as crypto asset portfolio managers, intermediaries, and fund distributors. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space New Regulatory Approach The Hong…
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Arbitrators to Resolve Disputes in the Russian Cryptocurrency Industry
A leading industry organization in Russia has decided to establish an arbitration body to look into disputes within the digital economy, including matters related to cryptocurrency transactions, as well as rights and responsibilities in token sales and the implementation of smart contracts. Also read: Ukraine Plans to Fully Legalize Cryptocurrencies Within Three Years Industry Organization…
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Korean Court Rules in Favor of Cryptocurrency Exchange Against Bank
A South Korean district court has ruled that Nonghyup Bank, a major bank in the country, cannot block transactions to the account of cryptocurrency exchange Coinis based solely on the government’s anti-money laundering guidelines. This is reportedly the first time a Korean crypto exchange has taken legal action against a bank for blocking its transactions.…
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Exchanges Roundup: BNB on Etoro, Binance Freezes Wex Funds, Bittrex International
In cryptocurrency exchange news, Binance’s native coin has listed on Etoro, Bittrex has announced the upcoming launch of its Malta-based international exchange, and Chris Lee of Huobi has predicted that security token offerings will become a mainstream form of fundraising within five years. Also Read: Bitcoin Trader Faces Five Years in US Jail for Unlicensed Money…
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Venezuela Begins Public Sale of National Cryptocurrency Petro
The Venezuelan government has opened up an exchange desk for the country’s national cryptocurrency at the headquarters of the Superintendency of Cryptoassets. According to the government, investors can now purchase the petro with a number of fiat currencies and cryptocurrencies. Delegates from China have reportedly purchased some with yuan. Also read: Yahoo! Japan Confirms Entrance Into…
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South Korea Cracks Down on Unauthorized Cryptocurrency Funds
South Korean financial regulators are cracking down on unauthorized cryptocurrency funds. In particular, one crypto fund launched by a local exchange is reportedly being investigated. The exchange claims no wrongdoing as its token activities were carried out overseas, but has promptly canceled its plan to launch a second fund. Also read: Yahoo! Japan Confirms Entrance Into…
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Russia’s Financial Watchdog to Oversee the Cryptocurrency Industry
Russia’s Federal Financial Monitoring Service has revealed that it will regulate cryptocurrency-related transactions in the country, with a senior official saying that the agency will also oversee the broader cryptocurrency industry, in accordance with recommendations issued by the Financial Action Task Force (FATF). Also read: Ukraine Plans to Fully Legalize Cryptocurrencies Within Three Years Rosfinmonitoring…
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Bitstamp Confirms Acquisition by South Korean Company
Bitstamp has confirmed that it has been acquired by a European subsidiary of a South Korean corporation. Nejc Kodrič will remain the CEO of the exchange. The Korean group also owns gaming giant Nexon and Korbit, the country’s fourth largest crypto exchange. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Bitstamp Acquired The oldest…