Bitcoin plunged by more than $1,000 (£740) on Thursday after South Korea said it was planning a crackdown on trading in the digital currency in the latest of a string of warnings for investors.
It dropped to about $13,500 after trading at about $15,400 on Wednesday. The dip was seen as a further illustration of bitcoin’s volatility.
The cryptocurrency has surged in value this year by more than 900%, becoming one of the biggest stories in finance amid a slew of warnings of a pending market crash.
Bitcoin recovered ground later on Thursday and was trading at about $14,000 at 5.30pm UK time.
South Korea, which is one of the biggest markets in the world for bitcoin, said it was preparing a ban on opening anonymous cryptocurrency accounts and new legislation to enable regulators to close coin exchanges if they felt there was a need to do so.
Residents of Australia can use Coinbase to purchase bitcoins with a credit card or ... Purchases made with bank transfer can take up to 5 days to complete;
Topic: Bitcoin Accounts Frozen As Australia Banks Crack Down on Crypto - page 3. (Read 350 times)
December 31, 2017, 05:49:13 AM
December 31, 2017, 05:30:48 AM
Google --> Australia AML KYC
December 31, 2017, 05:28:38 AM
Another perfect reason to not leave your funds in exchanges. Never ever use exchanges as wallets. Only use exchanges for their one single purpose: as a cryptocurrency exchange. Nothing more, nothing less.
Really unfortunate for those people, though.
Really unfortunate for those people, though.
December 31, 2017, 05:22:08 AM
Well, rule #1, never convert your bitcoin back to fiat. The banks and governments wants a cut of this. If you are trading, convert everything back to bitcoin, and keep it in this currency.
fiat is the most insecure thing ever, not because of theft, but because of governments. I'ts like their last grasp before we become free
fiat is the most insecure thing ever, not because of theft, but because of governments. I'ts like their last grasp before we become free
Please let's not be so 100% sided but combine a little bit of both.
Almost everyone is worried about crypto exchanges doing stupid things or going "hacked" or delaying withdrawals of verified accounts by a few weeks, while at the same time the same users going against regulation. Doing this is very stupid.
A little bit of regulation is actually healthy.
For example if the govs said that is mandatory to follow some very strict security rules when it comes to handling cold/hot users coins then this is very beneficial for us the traders/investors because the exchange will be audited to see if they don't breach some common sense procedures (by intention or mistake). Otherwise you will see headlines of another exchange "hacked" (maybe by an insider who works there and exploited a backdoor that he left open). Of course you can't make it 100% bullet proof, but at least you reduce the risk.
What the banks did in this case is common sense. Otherwise hackers/crackers, human traffickers, criminals will flourish.
I prefer to pay a small cut to the govs in order to be assured that the criminals will not affect my affairs.
December 31, 2017, 05:05:49 AM
Yeah, I've mentioned this a few times. That will be a serious 'check' type move (maybe not mate, but definitely a strong move). Cut the fiat to bitcoin exchange connection and you put crypto in a headlock. Crypto doesn't die but it becomes a lot harder to convert fiat to crypto for average/mainstream folks. How will you send it to exchanges? By snail mail? By hand? My guess is that you'll start to see more black market exchanges, which is a bad direction but sometimes if they fight dirty, the other side is forced to be dirty as well.
December 31, 2017, 05:05:11 AM
Well, rule #1, never convert your bitcoin back to fiat. The banks and governments wants a cut of this. If you are trading, convert everything back to bitcoin, and keep it in this currency.
fiat is the most insecure thing ever, not because of theft, but because of governments. I'ts like their last grasp before we become free
fiat is the most insecure thing ever, not because of theft, but because of governments. I'ts like their last grasp before we become free
December 31, 2017, 04:56:00 AM
Haven't had issues. Some FUD methinks.
December 31, 2017, 04:44:33 AM
Bastards!! I can't wait for crypto to destroy these asshole 
.
. December 31, 2017, 04:18:34 AM
Cryptocurrency investors in Australia are claiming several big banks are freezing their accounts and any transfers to outside exchanges.. A report in the Sydney Morning Herald quotes a cryptocurrency trader named Alex Saunders, who says the National Australia Bank, ANZ, the Commonwealth Bank of Australia and Westpac Banking Corporation have been freezing customer accounts and transfers to four different bitcoin exchanges – . Banks Crack Down on Crypto appeared first on BlockTribune.
http://blocktribune.com/bitcoin-accounts-frozen-australia-banks-crack-crypto/
http://blocktribune.com/bitcoin-accounts-frozen-australia-banks-crack-crypto/
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