South Korea Takes Legal Step to Stamp Out Unregistered Crypto Exchanges
A legal amendment to an act addressing the South Korean crypto industry would criminalize unregistered exchanges, but has loosened other requirements. Original Source
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South Africa’s FirstRand Bank Terminates Accounts Related to Crypto
FirstRand Bank has notified some of the most major cryptocurrency exchanges in South Africa about the closure of their accounts. These crypto exchanges include VALR, Luno and ICE3X.The decision came out after the bank reconsidered its risk factor when it comes to digital currencies and decided to discontinue working with
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CEO of South Korean Crypto Exchange CoinUp Imprisoned for 16 Years for Fraud
“Everyday for the thief, one day for the owner,” they say. Well, that proved true in the case of this South Korean crypto exchange, CoinUp, which the police found to be a fraudulent scheme.According to local South Korean news reports, the crypto exchange was involved in an elaborate scam worth
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Power Ledger Strikes Deal to Roll Out Blockchain in South Australia
Australian blockchain energy firm Power Ledger has partnered with a local energy retailer to roll out its technology in South Australia. Power Ledger’s blockchain-based software will allow Australians to pool their excess solar and battery storage to a Virtual Power Plant for greater control and management over their energy.Commercial
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Inter-American Development Bank to Test Blockchain for Land Registries in South America
The Inter-American Development Bank (IDB) is set to partner with ChromaWay, the creator of the blockchain system Chromia, to test a blockchain solution for land registries for Latin American countries.ChromaWay will work with the Bolivian IT services company Jalasoft to pilot the technology in Bolivia, Peru and Paraguay, with the
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British South Asian Among the Most Affected Victims of the OneCoin Scam
In 2016, an massive cryptocurrency opportunity was unveiled that essentially alleged that OneCoin had been lying to its customers about the true value of the digital currency that the company was offering.A recent in-depth investigation has revealed that British South Asian Muslims living in the United Kingdom were the most
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Crypto Tracking Helps Uncover a Huge Global Child Porn Ring Based in South Korea
Thanks to the tracking characteristics of blockchain technology, United States authorities have been able to uncover the largest international child porn ring ever.It is no news that crypto coins can (and are being) used to finance illegal activities. These activities range from (but are not limited to) aiding money laundering
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New Gov’t Initiative to Put South Korean Trade on Blockchain by 2021
The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology.Reduce trade costs by more than 90%On Oct. 14, South Korean Finance Minister Hong Nam-ki introduced the country’s Development Plan for Digital Trade. Under the plan, technologies such
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South Korean Blockchain Startup Raises $8M for Identity Authentication
Blockchain company Iconloop has secured 10 billion Korean won (KRW) (over $8 million) from seven investment companies participating in a Series A funding round.Per an Oct. 10 announcement, it was Iconloop’s first venture capital investment since its establishment in 2016, with the participation of companies such as Korea Technology
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South Korean KB Kookmin Bank Adopts Blockchain to Improve Internal Processes
Major South Korean bank KB Kookmin Bank is planning to integrate blockchain technology into its internal processes.As local news outlet Korea JoongAng Daily reported on Oct. 7, the institution said blockchain technology could offer a multitude of benefits to the financial industry, including the issuance of digital tokens, funding,
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