Vietnam at Crossroads on Cryptocurrency Regulations

post-img

Read More

Vietnamese authorities are still considering their approach to regulating the cryptocurrency space. The Ministry of Justice has put forward several alternative solutions and the Ministry of Industry and Trade has expressed its opposition to the ban on imports of mining equipment. Also read: Uzbekistan Sets up International Arbitration Center for Crypto Businesses Justice Ministry Reports…

Iran Completes Development of Rial-Supported National Cryptocurrency

post-img

Read More

Iran has finalized the development of its national cryptocurrency, which is backed by the local fiat unit, the rial. Once the Central Bank of Iran (CBI) approves its use, the yet-to-be-named digital currency will then be issued to banking institutions for testing in payments, internal and interbank settlements according to local media reports. Also Read: Bahamas…

‘Asia’s Amazon’ Starts Using Bithumb’s Payment Service for Cryptocurrency Users

post-img

Read More

One of South Korea’s largest cryptocurrency exchanges, Bithumb, has begun providing a cryptocurrency payment service to a major online marketplace it refers to as “Asia’s Amazon.” Korean users can use their cryptocurrencies held at the exchange to pay for purchases on Qoo10 using this service. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Qoo10…

Trade.io Acquires Primus Capital Markets to Offer BTC-Backed Forex Trading

post-img

Read More

Trade.io, a cryptocurrency exchange and investment company, has acquired British brokerage firm Primus Capital Markets Ltd for an undisclosed amount. The new subsidiary is to start trading foreign currency using digital assets as base currency under a new name, TIO Markets. Initially, customers will be able to make deposits and withdrawals in bitcoin core, ethereum,…

French Lawmakers to Lower Cryptocurrency Tax by 6 Percent

post-img

Read More

French lawmakers have adopted an amendment to the 2019 budget bill that will cut capital gains tax on bitcoin sales to 30 percent from 36.2 percent. This will bring cryptocurrency transactions in line with other non-real estate assets, which are taxed at a flat rate of 30 percent. Also Read: Survey: South Africans Turn to Crypto…

Venezuela’s Supreme Court Orders Payment in National Cryptocurrency

post-img

Read More

Venezuela’s Supreme Tribunal of Justice has ordered a compensation payment of 266 petros, the country’s national cryptocurrency, in a workplace injury case. Meanwhile, the Venezuelan government has launched the petro savings plan, backed by 4 million of the digital currency. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Venezuela’s Supreme Court Recognizes Petro The…

Top Three South Korean Cryptocurrency Exchanges Expand Overseas

post-img

Read More

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…

China Updates Crypto Ranking, Downgrades BTC Further

post-img

Read More

China’s Center for Information 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 The China…

Korean Court Rules in Favor of Cryptocurrency Exchange Against Bank

post-img

Read More

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.…

South Korea Cracks Down on Unauthorized Cryptocurrency Funds

post-img

Read More

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…