They announced regulatory measures to ban anonymous cryptocurrency trading and regulate cryptocurrency exchanges, including banning foreigners and minors from opening
new cryptocurrency accounts.
He had his own
personal cryptocurrency accounts, which he informed his employer of, and he was told to cease all personal trading to avoid a conflict of interest.
The new South
Korean cryptocurrency account system has entered into force nationwide today, ending the current practice that allowed for anonymous trading of cryptocurrencies.
Regulation The new South Korean
cryptocurrency account system has entered into force nationwide today, ending the current practice that allowed for anonymous trading of cryptocurrencies.
Opening cryptocurrency accounts has been banned for weeks while the banks have installed the system, which ensures only real - name bank accounts and matching accounts at cryptocurrency exchanges for deposits and withdrawals.
According to Japanese news source Nikkei, the country's National Police Agency (NPA) released its first annual report of statistics tracking thefts from
cryptocurrency accounts on Thursday.
An analysis by the decentralized token exchange AirSwap proved the same issue exists for counterfeit
cryptocurrency accounts in places like the Philippines.
On March 13, 2018 HashChain expanded their Node40 Balance
cryptocurrency accounting software to integrate with the Coinbase Exchange and support cross-wallet transactions.
Regulation South Korean banks have backtracked from their decisions to stop
servicing cryptocurrency accounts as crypto investors protested and the government re-discussed its policy.
VANCOUVER, March 13, 2018 — HashChain Technology Inc. (TSXV: KASH; OTCQB: HSSHF)(«HashChain» or the «Company») today announced that its
Balance cryptocurrency accounting software, adds support for Gemini, a New...
Diversifying its business strategy beyond crypto mining, the Company recently acquired NODE40, a blockchain technology company that developed NODE40 Balance, a new SaaS product
making cryptocurrency accounting simpler and more accurate.
Users were reporting empty
cryptocurrency accounts as a result, which was creating panic and calls for legal action among Coinbase customers.
This experiment is designed to provide customers with the ability to view their total financial holdings,
including cryptocurrency accounts on Coinbase, from the Fidelity online banking portal.
Furthermore, at the bank's headquarters in Zurich, there is a Bitcoin ATM installed in the lobby as a way of giving public access to
private cryptocurrency accounts, especially during busy business hours.
This week, a London - based startup, The London Block Exchange (LBX), announced that they would be making a cryptocurrency debit card available to users, which will make the process of spending and keep track of
cryptocurrency accounts much more manageable.
The vice chairman of the Financial Services Commission, Kim Yong - beom announced several measures that would «ban anonymous trading on domestic exchanges, while foreigners and minors would be completely banned from trading
through cryptocurrency accounts.
Some speculators initially assumed this was due to uncertainty over South Korean government's announcement of inspecting banks that
carry cryptocurrency accounts.
According to South Korea's Yonhap news agency, as of Sunday, there were 143,000 virtual ledgers for cryptocurrency trading which account to about 8.21 % of total the
entire cryptocurrency accounts has been converted to real name bank accounts in the country.
On Monday, South Korean regulators inspected six local banks that
offered cryptocurrency accounts, looking into a potential breach of anti-money laundering rules.
While six major banks have the ability to
service cryptocurrency accounts, they «have been converting only existing virtual accounts to real - name accounts for four large cryptocurrency exchanges» — Bithumb, Upbit, Coinone, and Korbit.
Planned regulation also prevents foreigners and underage investors from
opening cryptocurrency accounts in South Korea, Yonhap reported, citing financial officials.
Diversifying its business strategy beyond crypto mining, the Company acquired NODE40, a blockchain technology company that developed NODE40 Balance, a new SaaS product
making cryptocurrency accounting and tax reporting simpler and more accurate.
«Our investments — large strategically located volume mining,
cryptocurrency accounting software, and our masternode businesses — place us in a strong position to deliver on our goal of expanding HashChain's scope and presence.»
From the 30th of January, every South
Korean cryptocurrency account was closed and Korean nationals were forced to open new accounts, foreigners and minors would be unable to open their accounts.
The reason for the shutdown, according to the customer, was because the bank could not verify the compliance of international wire transfers for
cryptocurrency accounts.
The steps will include a ban on opening anonymous
cryptocurrency accounts and new legislation to allow regulators to close virtual coin exchanges if needed, a measure recommended by the justice ministry, the statement said.
Although the indictment doesn't specify what the Russian nationals used
their cryptocurrency accounts for, it does say that the group's fake bank and PayPal accounts «were used to purchase advertisements on Facebook» that promoted its messages to misinform the U.S. public.
Cryptocurrency accounts are not insured by the Federal Deposit Insurance Corporation (FDIC), which insures bank deposits up to $ 250,000.