Korean Bar Association Pressures South Korean Govt For Crypto Framework

The Korean Bar Association (KBA) is urging the South Korean government to quickly establish a legal framework to help develop the local crypto industry and protect investors. In a news conference at the Korean parliament, the KBA, which is comprised of 23,557 attorneys and 1,353 law firms, has appealed to the government to promptly institute…

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“Wild West” Crypto Market Should Be Regulated, Says UK Treasury Committee

The UK Parliament’s Treasury Committee said that regulation is needed for the “Wild West” domestic cryptocurrecny market. In a report published on Wednesday, the Treasury Committee said that cryptocurrencies are a “Wild West industry” and need to be regulated to protect investors. The report called for the government to address the issues of poor security…

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Smart Valor CEO: Miners Depend on a Healthy Bitcoin–They Won’t Manipulate

This is an excerpt. To hear the full interview, please click the Soundcloud or Youtube links. In financial spheres, cryptocurrency and blockchain are most often spoken about in the context of ‘making the rich richer’–the technology is increasingly used by highly-ranked financial institutions as a way to improve the efficiency of their operations. Join the…

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Philippines SEC To Release Draft Crypto Exchange Regulations This Month

The Philippines Securities and Exchange Commission (SEC) will be releasing a draft of new guidelines on crypto exchanges this month. Speaking to reporters after an en banc meeting, SEC Commissioner Ephyro Luis B. Amatong said that the agency will put out a draft rule for virtual currency exchanges within the first half of September, and…

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Indian Crypto Regulations Ready in July, Official Reveals

If you thought crypto in India was over, you were probably wrong. According to a recent statement by a high-ranking official, the long-awaited regulations are on the way. A draft framework has been prepared, and authorities in Delhi hope to “wrap this up” as early as the first half of next month. Meanwhile, the Supreme…

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Cryptocurrencies Can Now be Monitored by FIUs, New EU Directive Says

On Tuesday the European Union published its Fifth Anti-Money Laundering Directive (Directive (EU) 2018/843), aiming to both detect and investigate money laundering and prevent it from occurring.  The new directive, amending the prior Directive (EU) 2015/849, was passed by the European Parliament and the European Council and published in Official Journal L156 of the European…

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Korea Financial Intelligence Unit to Regulate Crypto Exchange like Banks

The local financial agency, Korea Financial Intelligence Unit (KFIU) will regulate crypto exchange like banks. Likewise, imposing a strict anti-money laundering (AML) policies that ensure cryptocurrencies are not utilizing for illegal activities.  The Kim Geun-ik, director of KFIU had an extensive discussion on money laundering and terrorist financing prevention at Policy Advisory Council meeting held…

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Indonesia’s Regulator Sets Green Signal for Crypto Futures Trading

The Trade Ministry’s Futures Exchanges Supervisory Board (Bappebti) of Indonesia has given a green signal for crypto futures trading. But, it is surprised to see that the Bank of Indonesia still doesn’t recognize cryptocurrencies as a mode of payment. Crypto Future Trading is Now Allowed According to a Jarkata Post reports on Monday, a commodities…

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India Proposes 18% GST Tax on Cryptocurrency

Indian tax authority is reportedly mulling plans to impose a new 18% Goods and Services Tax (GST) on the trading of cryptocurrencies. Bloomberg reported this morning that the tax will be part of a proposal being considered by Central Board of Indirect Taxes and Customs to classify cryptocurrencies as intangible or commodities, rather than currencies…

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Justice Minister of Russia Says Cryptocurrency Is a Property

In a recent debate on live status about digital currencies, Justice Minister of Russia support cryptocurrency that is still not regulated in the country. He says, Cryptocurrency is a property. Alexander Konovalov, Russian Minister of Justice said that Cryptocurrencies are under legal category of other property. Since, there is still a pending in State Duma’s…

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Ripple [XRP]’s regulatory director says – We’re moving away from ‘blockchain: good, crypto: bad’ view to real applications

Ripple has reached $0.91 yet again moving closer to the $1 mark. With a community of loyal HODlers, Ripple and XRP have both hit the spotlight all the way through this year. With a bag full of collaborations and new launches around like Santander for example, the team is pushing all barriers to hit the…

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Japan Proposes ICO Guidelines to Legitimize Token Sales

In response to global pressure to create more comprehensive regulations on cryptocurrency, the nation of Japan has proposed a new set of guidelines to legalize ICOs. The guidelines, which were drafted by a government-supported research group, will legally standardize Know Your Customer and Anti-Money Laundering (KYC and AML) requirements. They also include measures to protect…

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G20 Sets July Dealine For Unified Crypto Regulations

Financial policymakers from the world’s top 20 economies have set a July deadline for the first step toward unified regulation of cryptocurrency. Speaking during a news conference at the G20 Meeting of finance ministers in Buenos Aires, Argentina Central Bank chair Frederico Sturzenegger said the group agreed that regulation needs to keep up with the…

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South Korea Seizes Three Crypto Exchanges, Alleges ‎Embezzlement ‎

‎South Korea’s regulator said on Wednesday that it has taken control of three ‎cryptocurrency ‎exchanges, and that the venues’ officials have been ‎prosecuted for alleged “embezzlement ‎crimes‏.”‏ Discover credible partners and premium clients at China’s leading finance event! According to local media, the move is aimed at protecting consumer interests against ‎the ‎exchange’s unlawful practices….

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