RBI Argues Supreme Court Should Not Interfere With Its Crypto Decision

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The Reserve Bank of India has filed an affidavit with the country’s supreme court in response to one of the petitions against its crypto banking ban. The central bank reportedly argues that it has acted within its power and that none of the petitioners have shown reasonable grounds for the supreme court to intervene. Also…

Security Specialist Wizsec Gives Insight on the Billion Dollar BTC Wallet

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The bitcoin security specialists Wizsec has recently explained to the public that the wallet that held more than 111,000 BTC did not derive from the Silk Road marketplace, and it’s also not one of the Mt Gox wallets. Further Wizsec detailed today that a recent article had quoted the organization by cherry-picking quotes which in…

Gemini Dollar Code Review Reveals the Stablecoin’s Accounts Can Be Frozen

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This week a blockchain researcher named Alex Lebed published a code review on the new stablecoin, the gemini dollar, created by the Gemini Trust cryptocurrency firm. According to Lebed’s study, gemini dollar accounts can be frozen by the exchange, and the tokens can be turned into non-transferable assets. Also read: Markets Update: Short Term Recovery – Is…

US Financial Industry Regulatory Authority Issues Its First Crypto Disciplinary Action

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The U.S. Financial Industry Regulatory Authority has taken its first disciplinary action involving cryptocurrencies. The authority charges a broker with fraudulent and unlawful distribution of unregistered crypto securities. The owner allegedly “attempted to lure public investment in his worthless public company” by issuing “the first minable coin backed by marketable securities.” Also read: 160 Crypto Exchanges…

South Korean Lawmaker Proposes Special Crypto Zone for ICOs

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A South Korean lawmaker has reportedly proposed designating a regulation-free special cryptocurrency zone aimed at initial coin offerings. It has been about a year since token sales were banned in the country but the government has yet to introduce any guidelines for them. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals Proposal…

Indian Exchange Resumes Fiat Deposits and Withdrawals Using New Method

Indian Exchange Resumes Fiat Deposits and Withdrawals Using New Method

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An Indian cryptocurrency exchange has come up with a new method to allow its users to deposit and withdraw rupees despite the crypto banking ban by the country’s central bank. The exchange also guarantees that rupee requests will be processed within 30 minutes or the user will receive ten free XRP credited to their account.…

Crypto Exchange Works With Regulators to Develop Legal Frameworks for Arab States

Crypto Exchange Works With Regulators to Develop Legal Frameworks for Arab States

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Following the statement by Saudi Arabia declaring cryptocurrency illegal, the largest crypto exchange in the Middle East and North Africa is working with regulators across the region to develop crypto regulations. Bitoasis confirmed its platform is unaffected by the Saudi Arabian crypto stance. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Bitoasis Working With…

Prolific Bitcoin Dealer ‘Blew a Giant Hole’ Through US Legal Framework

Prolific Bitcoin Dealer ‘Blew a Giant Hole’ Through US Legal Framework

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A Mexico-based “prolific bitcoin dealer” has been indicted and held without bond in the US on a number of international money laundering charges. He used Bitfinex for his exchange needs after Coinbase closed his account. His “activities ‘blew a giant hole’ through the legal framework of U.S. anti-money laundering laws,” the Department of Justice wrote.…

SEC Fines and Permanently Bars Founder of Fraudulent Oil Exploration Token

SEC Fines and Permanently Bars Founder of Fraudulent Oil Exploration Token

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The U.S. Securities and Exchange Commission (SEC) has taken action against an oil and gas exploration company and its founder who “perpetrated a fraudulent initial coin offering (ICO) to fund oil exploration and drilling in California.” The token sale failed to raise money but the tokens were issued as part of a bounty program, which…

Bithumb Resumes Deposit and Withdrawal Services – Upbit Reveals 127% Cash Reserves

Bithumb Resumes Deposit and Withdrawal Services – Upbit Reveals 127% Cash Reserves

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South Korean exchange Bithumb has resumed deposit and withdrawal services for a number of cryptocurrencies after the recent hack. Another major Korean exchange, Upbit, has released an audit report showing more crypto and cash reserves than needed to pay customers. Meanwhile, all customer deposits at Korbit will now be held by a bank. Also read: Yahoo!…