, South Korea's third largest cryptocurrency exchange Korbit told its users that foreigners will no longer be able to deposit or withdraw Korean won
on local cryptocurrency exchanges once a new anti-money laundering (AML) system is integrated by the end of January.
This week, as CCN previously reported, South Korea's third largest cryptocurrency exchange Korbit told its users that foreigners will no longer be able to deposit or withdraw Korean won
on local cryptocurrency exchanges once a new anti-money laundering (AML) system is integrated by the end of January.
Ever since the $ 500 million hack of Japan's Coincheck cryptocurrency exchange came to light earlier this year in January, Japan's financial watchdog The Financial Services Agency (FSA) has been seen cracking down the whip
on local cryptocurrency exchanges.
Throughout the past month, traders and investors in China have criticized the Chinese government's sudden crackdown
on local cryptocurrency exchanges and trading activities.
Earlier this week, there were reports that South Korea would begin enforcing corporate tax legislation
on local cryptocurrency exchanges from the end of March 2018, requiring local exchanges to pay up to 22 % in corporate taxes by the end of March and 2.2 % in local income tax by the end of April, on 2017 earnings.
In January, reports surfaced that the South Korean government was planning to enforce corporate tax policy
on local cryptocurrency exchanges from the end of March 2018.
Typically, Nigerians have been trading
on local cryptocurrency exchanges such as NairaEx and ICE3X.
The cryptocurrency markets witnessed a major correction owing to two main reasons: first is the negative statement by Wall Street's one of the most powerful men and JP Morgan boss — Jamie Dimon on Bitcoin, and other because of Chinese regulatory bodies cracking - the - whip
on its local cryptocurrency exchanges.
You can exchange US dollars (USD) for ADX tokens
on local cryptocurrency exchange HitBTC.
Not exact matches
South Korea's new management - minded approach is a dramatic turnaround from its energetic regulatory crackdown
on cryptocurrency exchanges this past year, alarmed at a heated market that saw
local prices of Bitcoin and other virtual currencies in South Korea trade for higher than international levels.
Then it called
on local exchanges to stop trading in
cryptocurrencies and outlined proposals to discourage bitcoin mining — the energy - intensive computing process that makes transactions with the digital currency possible.
Remarks made by Philippine banking and regulatory officials
on November 21, 2017, put
cryptocurrency exchanges and crowdfunding via token offerings in the
local spotlight.
«Icon's listing in
local exchanges is significant itself as the coin is South Korea's first platform coin,» built
on code that can be used for other applications, said Park Nok - sun, a
cryptocurrency analyst at NH Investment and Securities.
On April 25, 2018,
cryptocurrency exchange platform «Everyone's Bitcoin» (みんなのビットコイン) published a notice (Japanese) regarding a business improvement order, which it recently received from the Kanto
Local Finance Bureau (a regional department of Japan's Ministry of Finance).
South Korea's government said
on Thursday it plans to ban
cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation's police and tax authorities raided
local exchanges on alleged tax evasion.
China's recent ban
on initial coin offering (ICO), a cross-between crowdfunding and initial public offering, has forced
local cryptocurrency exchanges into stricter self - scrutiny about their supervision mechanisms.
And even private trading of
cryptocurrency arranged through chat - apps like Telegram and WeChat, for example, could fall under scrutiny, according to the Wall Street Journal.This much stricter stance
on Bitcoin, beyond just
exchanges but also concerning Bitcoin itself, seem consistent with comments from PBOC Counselor Sheng Songcheng, as reported by
local news sources like Shanghai Securities News.
Hong Kong regulator the Securities and Futures Commission (SFC) said
on Friday it would crackdown
on cryptocurrency exchanges that operate in the Asian financial hub without a license or violate
local securities laws.
Monex Group Inc, a Japan - based online broker announced
on Tuesday that it was considering buying Coincheck Inc, a
local cryptocurrency exchange which lost $ 530 million in a high — profile theft earlier this year.
South Korean
cryptocurrency exchange Korbit has barred non-citizens from depositing
local currency — the Korean won —
on its platform.https: / / www.coindesk.com/korean-crypto-
exchange-korbit-halting-deposits-from-non-citizens/ ...
The Russian Ministry of Finance has drafted a bill to legalize the trading of
cryptocurrencies on approved
exchanges, according to a report from
local media.
These user can use third - party gateways for payments, like,
cryptocurrencies on Peer - to - peer
exchanges like
Local Bitcoins, Instashift and so
on.
«Pantera Capital is staunchly committed to investing in
local cryptocurrency exchanges across the globe because any regional market thrives
on local leadership.»
Back in September, the financial regulatory bodies in China had a major crackdown
on ICOs and
cryptocurrency trading by asking all the
local exchanges to shut down their operations with immediate effect.
Following the major crackdown
on the country's
local Bitcoin
exchanges in China, the global market sentiment has absolutely turned negative and a bit of panic and fear is being witnessed within the investor community.Panic selling is being witnessed in the
cryptocurrency markets where Bitcoin price finally drops below $ 3000.
Other items
on his agenda included having all
local cryptocurrency exchanges and services register with the government and also abide by the Know - Your - Customer requirements by the end of 2019.
Important global economies like China and Russia have also been recently seen hitting hard
on its
local trading bodies and
exchanges while putting up a curtain
on cryptocurrency trading.
Today, Monday 25 September 2017,
on BitcoinFundi, the
local Zimbabwean
cryptocurrency exchange BTC traded for as much as $ 7,200 / BTC translating to an 85 % premium based
on the Coinbase price of $ 3,900.
«Various scenarios such as the imposition of a value - added tax, a capital gains tax, or both
on trade; and the collection of corporate tax from
local cryptocurrency exchanges, as well as the initiation of authorized
exchanges with licenses are being discussed.»
Earlier this month, China issued a blanket ban
on fundraising methods involving token sales, or initial coin offerings (ICOs), and
local cryptocurrency exchanges have indicated they will cease domestic trading following the ban.
Despite
local Korean news outlets forecasting that a «shutdown»
on the
cryptocurrency exchange space was «not likely» Monday,
In addition to trading the dominant cryptocoins, one of CryptoHawk's primary essence also lies in further establishing and promoting the acceptability of
cryptocurrencies as a means of payment in the society across all industries and sectors; from the standard trading of
cryptocurrency on exchanges to making a purchase in the
local retail store using any recognized coin.
On January 31,
local cryptocurrency exchanges are expected to open account registrations to new users and six major
local banks are set to provide banking services to
cryptocurrency exchanges.
Consequently,
on January 31, it is likely that a massive amount of Korean won will flow into the
local cryptocurrency exchange market.
Seoul's state intelligence agency has found evidence North Korea was behind the recent hacking of South Korean
cryptocurrency exchanges, according to
local media
on Saturday.
Japan's Financial Services Agency (FSA) will conduct
on - site inspections of 15
cryptocurrency exchanges that are currently awaiting registration in the aftermath of the Coincheck hack, the
local news outlet The Japan Times wrote today, Feb. 16.
Despite sweeping concerns of a ban
on domestic
cryptocurrency exchanges, proposed by Korea's justice ministry, the Korean government quashed such fears today while confirming wider regulatory moves for the
local cryptocurrency ecosystem.
Japanese online broker Monex Group Inc said
on Tuesday it is considering buying Coincheck Inc, the
local cryptocurrency exchange hit by a high - profile $ 530 million theft earlier this year.
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China is also said to be planning a ban
on access to foreign
cryptocurrency exchanges from within its borders, according to a Bloomberg report from earlier this week; the country has already banned
local exchanges.
Currently,
cryptocurrencies like bitcoin remain unregulated in the country and Sithole cautioned traders
on local exchanges to be careful as the Central Bank seeks opinions of experts
on the issue.
South Korean police and tax authorities also raided the 2 of the biggest
local cryptocurrency exchanges on allegations of tax evasion.
On March 21,
local cryptocurrency - focused media outlets reported that the NHN funded OKCoin — formerly the biggest
cryptocurrency exchange in China prior to the country's
cryptocurrency trading ban in 2017 — was to launch OKCoin Korea.
The company reportedly announced
on Friday that it is launching a
cryptocurrency exchange, according to
local publications.
Chosun, one of South Korea's largest mainstream media outlets, reported that
local financial authorities and law enforcement have begun to crackdown
on cryptocurrency exchanges with deceptive marketing and fraudulent operations.
Following announcements from other central banks including the UK and the US, India's central bank has been applying regulatory pressures
on its national banks and
local cryptocurrency exchanges.
Amidst all the hullaballoo currently going
on in the South Korean
cryptocurrency market, a
local media publication Yonhap News has recently reported that the government has arrived at a decision to collect 24.2 % of
local and corporate income tax from
local exchanges this year as a «measure of tax enforcement».
Operated by OKCoin, formerly the largest
cryptocurrency exchange in China prior to the
local government's crackdown
on trading, Hong Kong - based OKEx briefly became the biggest
cryptocurrency exchange internationally, as reported by Cointelegraph, overtaking Binance in March 2018.
Cryptocurrency exchanges will be now required to pay corporate and
local income tax
on their yearly reported earning.
Blockstream Chief Strategy Officer Samson Mow went so far to say that even if China does ban bitcoin and its
local exchanges, it will not work
on Bitcoin and the
cryptocurrency will continue to sustain its upward trend.