Apple Co-Founder Steve Wozniak Prefers Bitcoin Over All Other Currencies
Steve Wozniak, co-founder of Apple, is exuberant about Bitcoin and hopes that it will become the single global currency. He states that Bitcoin goes along with his personal ideology of mathematics, purity, and science. He likes how Bitcoin is not controlled by any individual or organization, instead it is decentralized and controlled by mathematics. He sees Bitcoin as a naturally evolving force of nature.
He said all this during an interview by CNBC on 4 June 2018 at the Money 20/20 conference in Amsterdam, an event where the financial tech, payments, and financial services industry experts came together to discuss the future of money.
Read full article at https://bitcoinnews.com/apple-co-founder-steve-wozniak-prefers-bitcoin-over-all-other-currencies/
Topic: BitcoinNews: #1 In Blockchain News - page 36. (Read 4531 times)
Gavin Brennen: 100GHz Quantum Computers Aren’t a Threat to Blockchain
In May 2018, Australian physicist Gavin Brennen shared his team’s research into how quantum computing would affect blockchain. Jeffrey Tucker reported: “He began with his frustration over the headlines that swept the tech world last October and November. They were as alarmist as they were misleading.”
Scaremongering around how quantum computers will disrupt the security of blockchain technology is often exaggerated and not balanced with the possible solutions or counterplays to defend against the underdeveloped hardware.
Read full article at https://bitcoinnews.com/gavin-brennenc100ghz-quantum-computers-arent-threat-to-blockchain/
In May 2018, Australian physicist Gavin Brennen shared his team’s research into how quantum computing would affect blockchain. Jeffrey Tucker reported: “He began with his frustration over the headlines that swept the tech world last October and November. They were as alarmist as they were misleading.”
Scaremongering around how quantum computers will disrupt the security of blockchain technology is often exaggerated and not balanced with the possible solutions or counterplays to defend against the underdeveloped hardware.
Read full article at https://bitcoinnews.com/gavin-brennenc100ghz-quantum-computers-arent-threat-to-blockchain/
Forget Millennials, Tokyo Seniors’ Center Proves Age No Barrier to Bitcoin
A center is Japan has launched an intensive course for seniors and the middle-aged to assist them to learn and invest in cryptocurrencies, Bitcoin.com reports.
The center based in Tokyo, according to local media, is “Japan’s first virtual currency investment course for seniors”, with some of its students in their 80s.
In most countries around the world, it is millennials who are making crypto headlines. In a recent poll on cryptocurrency’s popularity reported by The Korea Times, statistics showed that 21.6% of the 2,511 participants were aware of cryptocurrencies with 29.4% and 40.3% among respondents in their 20s and 30s, respectively, but only 5.7% of those in their 60s and a tiny 2.2% of those in their 70s were actually aware of cryptocurrency.
Read full article at https://bitcoinnews.com/forget-millennials-tokyo-seniors-center-proves-age-no-barrier-to-bitcoin/
A center is Japan has launched an intensive course for seniors and the middle-aged to assist them to learn and invest in cryptocurrencies, Bitcoin.com reports.
The center based in Tokyo, according to local media, is “Japan’s first virtual currency investment course for seniors”, with some of its students in their 80s.
In most countries around the world, it is millennials who are making crypto headlines. In a recent poll on cryptocurrency’s popularity reported by The Korea Times, statistics showed that 21.6% of the 2,511 participants were aware of cryptocurrencies with 29.4% and 40.3% among respondents in their 20s and 30s, respectively, but only 5.7% of those in their 60s and a tiny 2.2% of those in their 70s were actually aware of cryptocurrency.
Read full article at https://bitcoinnews.com/forget-millennials-tokyo-seniors-center-proves-age-no-barrier-to-bitcoin/
IMF Exec: Crypto Could Weaken Central Bank Power over Monetary Policy
The deputy director of the International Monetary Fund’s (IMF) monetary and capital markets department, Dong He, has shared his views on how global adoption of cryptocurrency could change the financial world. One of the biggest takeaways from Dong He’s analysis is that he thinks cryptocurrency could deprive central banks of their ability to carry out monetary policy.
Clearly, cryptocurrency is now on IMF’s radar based on Dong He’s analysis, and the sentiments of a pivotal player in the global financial system could bear implications on the industry.
Read full article at https://bitcoinnews.com/imf-exec-crypto-could-weaken-central-bank-power-over-monetary-policy/
The deputy director of the International Monetary Fund’s (IMF) monetary and capital markets department, Dong He, has shared his views on how global adoption of cryptocurrency could change the financial world. One of the biggest takeaways from Dong He’s analysis is that he thinks cryptocurrency could deprive central banks of their ability to carry out monetary policy.
Clearly, cryptocurrency is now on IMF’s radar based on Dong He’s analysis, and the sentiments of a pivotal player in the global financial system could bear implications on the industry.
Read full article at https://bitcoinnews.com/imf-exec-crypto-could-weaken-central-bank-power-over-monetary-policy/
German Banks Can Offer ATMs Exchanging Bitcoin and Ether to Euro
The German Federal Financial Supervisory Authority (BaFin), has clarified that banks have the right to upgrade existing ATMs in the country to facilitate certain cryptocurrencies, according to Trustnodes.
The German FCA has announced that the country’s banks can take up the new option, but as yet none have responded to the opportunity to allow customers to exchange BTC or Ether for Euros using the machines.
Responding to a question by Thomas Lutze, representative of a left-wing party in Germany, BaFin stated:
“Each institute, which has permission for proprietary trading, also has the right to set up machines that allow the exchange of Bitcoin in euros and vice versa. So far it is not known that this was done.”
Read full article at https://bitcoinnews.com/german-banks-can-offer-atms-exchanging-bitcoin-and-ether-to-euro/
The German Federal Financial Supervisory Authority (BaFin), has clarified that banks have the right to upgrade existing ATMs in the country to facilitate certain cryptocurrencies, according to Trustnodes.
The German FCA has announced that the country’s banks can take up the new option, but as yet none have responded to the opportunity to allow customers to exchange BTC or Ether for Euros using the machines.
Responding to a question by Thomas Lutze, representative of a left-wing party in Germany, BaFin stated:
“Each institute, which has permission for proprietary trading, also has the right to set up machines that allow the exchange of Bitcoin in euros and vice versa. So far it is not known that this was done.”
Read full article at https://bitcoinnews.com/german-banks-can-offer-atms-exchanging-bitcoin-and-ether-to-euro/
McAfee’s Bid For POTUS Race Stirs Crypto Community
Hundreds of cryptocurrency enthusiasts have reacted to John McAfee’s Sunday night Twitter announcement of his intention to run for the US presidential elections in 2020. The Tweet has currently generated almost 800 comments, generally positive, and over 5,800 likes. In 2016, he was nominated for the Whitehouse race by the Libertarian party. He lost to Garry Johnson; the New Mexico governor.
In his Sunday message on Twitter, McAfee openly expressed his love for the cryptocurrencies, saying he aims at serving the crypto community if he is elected as the president of the United States.
Read full article at https://bitcoinnews.com/mcafees-bid-for-potus-race-stirs-crypto-community/
Hundreds of cryptocurrency enthusiasts have reacted to John McAfee’s Sunday night Twitter announcement of his intention to run for the US presidential elections in 2020. The Tweet has currently generated almost 800 comments, generally positive, and over 5,800 likes. In 2016, he was nominated for the Whitehouse race by the Libertarian party. He lost to Garry Johnson; the New Mexico governor.
In his Sunday message on Twitter, McAfee openly expressed his love for the cryptocurrencies, saying he aims at serving the crypto community if he is elected as the president of the United States.
Read full article at https://bitcoinnews.com/mcafees-bid-for-potus-race-stirs-crypto-community/
Cryptsy Customers vs Coinbase Case Reopened
A court case stemming from a class action lawsuit brought against Coinbase by Cryptsy customers has been reopened by Judge Marra in the US District Court of the Southern District of Florida. Cryptsy was a popular cryptocurrency exchange that closed down and went bankrupt in early 2016.
Supposedly, Cryptsy was hacked in July 2014 resulting in the loss of BTC 13,000 (Bitcoin) and LTC 300,000 (Litecoin), worth USD 7.5 million and USD 2.1 million respectively at the time of the hack. The CEO of Cryptsy, Paul Vernon, said he did not disclose information about the hack when it happened to avoid panic. He also said he wanted to try and repay losses from the hack with exchange profits.
Read full article at https://bitcoinnews.com/cryptsy-customers-vs-coinbase-case-reopened/
A court case stemming from a class action lawsuit brought against Coinbase by Cryptsy customers has been reopened by Judge Marra in the US District Court of the Southern District of Florida. Cryptsy was a popular cryptocurrency exchange that closed down and went bankrupt in early 2016.
Supposedly, Cryptsy was hacked in July 2014 resulting in the loss of BTC 13,000 (Bitcoin) and LTC 300,000 (Litecoin), worth USD 7.5 million and USD 2.1 million respectively at the time of the hack. The CEO of Cryptsy, Paul Vernon, said he did not disclose information about the hack when it happened to avoid panic. He also said he wanted to try and repay losses from the hack with exchange profits.
Read full article at https://bitcoinnews.com/cryptsy-customers-vs-coinbase-case-reopened/
Moving to Montana Soon: Next Bitcoin Mining Haven Says Economist
An article written by Brandon Bridge, an economist, and director of forecasting at the Bureau of Business and Economic Research at the University of Montana, has suggested that the state is ripe for Bitcoin mining to boost its economy, according to Big Sky Business Journal.
According to the Montana Business Quarterly, three companies have recently invested or are planning to invest in building data centers in the state:
“There’s a huge potential for locations and jurisdictions around the world that are favorable to the Bitcoin industry – most notably right here in Montana,” writes Bridge, in view of Montana’s relatively low energy rates, a cold climate and lots of unused warehouse space.
Read full article at https://bitcoinnews.com/economist-forecasts-montana-as-bitcoin-mining-haven/
An article written by Brandon Bridge, an economist, and director of forecasting at the Bureau of Business and Economic Research at the University of Montana, has suggested that the state is ripe for Bitcoin mining to boost its economy, according to Big Sky Business Journal.
According to the Montana Business Quarterly, three companies have recently invested or are planning to invest in building data centers in the state:
“There’s a huge potential for locations and jurisdictions around the world that are favorable to the Bitcoin industry – most notably right here in Montana,” writes Bridge, in view of Montana’s relatively low energy rates, a cold climate and lots of unused warehouse space.
Read full article at https://bitcoinnews.com/economist-forecasts-montana-as-bitcoin-mining-haven/
Crypto Investor Apologizes for Earning $8 Million
John Lore, a lawyer who has managed over 30 cryptocurrency hedge funds, has shared his experience with an investor who approached him for his services while apologizing for turning his USD 600,000 into USD 8 million.
Embarrassed by crypto riches
The investor in question reportedly apologized for how much money he had made, even seeming embarrassed with his newfound cryptocurrency riches.
Read full article at https://bitcoinnews.com/crypto-investor-apologizes-for-earning-8-million/
John Lore, a lawyer who has managed over 30 cryptocurrency hedge funds, has shared his experience with an investor who approached him for his services while apologizing for turning his USD 600,000 into USD 8 million.
Embarrassed by crypto riches
The investor in question reportedly apologized for how much money he had made, even seeming embarrassed with his newfound cryptocurrency riches.
Read full article at https://bitcoinnews.com/crypto-investor-apologizes-for-earning-8-million/
Valerie Szczepanik Appointed as First SEC ‘Crypto Czar’
The US Securities and Exchange Commission (SEC) on Tuesday appointed Valerie Szczepanik to a new position being referred to as “crypto czar”. Szczepanik’s official title is the Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation for the division’s acting director Bill Hinman.
What crypto czar entails
The creation of this position is being interpreted as an indication of the SEC’s commitment to further regulating the cryptocurrency industry. Szczepanik’s role as a senior advisor will entail overseeing digital asset technologies, including initial coin offerings (ICOs) and cryptocurrencies
Read full article at https://bitcoinnews.com/valerie-szczepanik-appointed-as-first-sec-crypto-czar/
The US Securities and Exchange Commission (SEC) on Tuesday appointed Valerie Szczepanik to a new position being referred to as “crypto czar”. Szczepanik’s official title is the Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation for the division’s acting director Bill Hinman.
What crypto czar entails
The creation of this position is being interpreted as an indication of the SEC’s commitment to further regulating the cryptocurrency industry. Szczepanik’s role as a senior advisor will entail overseeing digital asset technologies, including initial coin offerings (ICOs) and cryptocurrencies
Read full article at https://bitcoinnews.com/valerie-szczepanik-appointed-as-first-sec-crypto-czar/
Vietnam Calls for Crypto Mining Equipment Import Ban
Vietnam’s ministry of finance has made an official proposal to ban the import of cryptocurrency mining equipment. This is another step towards a total ban of cryptocurrency activity in Vietnam, which is what the government is pushing for. Any non-cash payments are illegal in Vietnam according to Decree 101 and, therefore, all cryptocurrency payments are illegal.
The ministry argues that at this point cryptocurrency mining machines are not on the list of specialized management or unsafe goods, so individuals and companies can easily import them. This makes the use of cryptocurrency mining equipment difficult for the ministry to manage.
Read full article at https://bitcoinnews.com/vietnam-calls-for-crypto-mining-equipment-import-ban/
Vietnam’s ministry of finance has made an official proposal to ban the import of cryptocurrency mining equipment. This is another step towards a total ban of cryptocurrency activity in Vietnam, which is what the government is pushing for. Any non-cash payments are illegal in Vietnam according to Decree 101 and, therefore, all cryptocurrency payments are illegal.
The ministry argues that at this point cryptocurrency mining machines are not on the list of specialized management or unsafe goods, so individuals and companies can easily import them. This makes the use of cryptocurrency mining equipment difficult for the ministry to manage.
Read full article at https://bitcoinnews.com/vietnam-calls-for-crypto-mining-equipment-import-ban/
Binance Acquires Maltese Bank Account, Plans Fiat Functionality Within a Year
Cryptocurrency exchange Binance has announced that it has successfully opened a bank account in Malta. The CEO of Binance, Zhao Chengpeng, says that fiat to cryptocurrency trading will be launched within a year on the exchange.
Binance is the top cryptocurrency exchange in the world by volume with USD 1.5 billion of trading in the last day. This edges out the second biggest exchange OKEx by USD 100 million and third biggest exchange Huobi by USD 350 million. Of course, these numbers vary from day to day, but Binance has almost always the top cryptocurrency exchange in the world by volume recently, with 343 different cryptocurrencies traded.
Read full article at https://bitcoinnews.com/binance-acquires-maltese-bank-account-plans-fiat-functionality-within-a-year/
Cryptocurrency exchange Binance has announced that it has successfully opened a bank account in Malta. The CEO of Binance, Zhao Chengpeng, says that fiat to cryptocurrency trading will be launched within a year on the exchange.
Binance is the top cryptocurrency exchange in the world by volume with USD 1.5 billion of trading in the last day. This edges out the second biggest exchange OKEx by USD 100 million and third biggest exchange Huobi by USD 350 million. Of course, these numbers vary from day to day, but Binance has almost always the top cryptocurrency exchange in the world by volume recently, with 343 different cryptocurrencies traded.
Read full article at https://bitcoinnews.com/binance-acquires-maltese-bank-account-plans-fiat-functionality-within-a-year/
20/20 Central Bank Execs Forum Agrees Bitcoin No Threat Yet to Fiat
At Amsterdam’s Money 20/20 Conference on 5 June, bank representatives from four countries were asked to respond to the question “Can cryptocurrencies spell the end of fiat currencies?”, reports Cointelegraph.
During a panel discussion, representatives from Swiss National Bank, the Bank of Lithuania, the Bank of England, and the Bank of Canada took turns in expressing their views on the topic.
The responses were generally in agreement, with Bank of Canada’s James Chapman suggesting that this situation would only occur in a hyperinflation scenario, with Swiss National Bank’s Thomas Moser concurring that a poor fiat performance may well invite more cryptocurrency activity, but argued that “as long as central banks do a good job, there is no real for central banks to disappear”.
Read full article at https://bitcoinnews.com/20-20-central-bank-execs-forum-agrees-bitcoin-no-threat-yet-to-fiat/
At Amsterdam’s Money 20/20 Conference on 5 June, bank representatives from four countries were asked to respond to the question “Can cryptocurrencies spell the end of fiat currencies?”, reports Cointelegraph.
During a panel discussion, representatives from Swiss National Bank, the Bank of Lithuania, the Bank of England, and the Bank of Canada took turns in expressing their views on the topic.
The responses were generally in agreement, with Bank of Canada’s James Chapman suggesting that this situation would only occur in a hyperinflation scenario, with Swiss National Bank’s Thomas Moser concurring that a poor fiat performance may well invite more cryptocurrency activity, but argued that “as long as central banks do a good job, there is no real for central banks to disappear”.
Read full article at https://bitcoinnews.com/20-20-central-bank-execs-forum-agrees-bitcoin-no-threat-yet-to-fiat/
Circle Attempting US Banking License
Cryptocurrency exchange Circle is seeking a banking license from the federal government of the United States. If successful, this would be the first cryptocurrency exchange that becomes an official bank in the United States, which would be a major milestone for the cryptocurrency world.
Becoming a bank would give Circle some important benefits, such as being able to access the central banking system without intermediaries which would allow Circle to settle with other banks in different markets around the world. Also, Circle would be able to store money in the Federal Reserve, as well as take loans at the extremely low inter-bank federal funds rate of 1.75%, freeing Circle from dealing with higher-cost lenders. These benefits would improve the efficiency and reduce the cost of Circle’s services.
Read full article at https://bitcoinnews.com/circle-attempting-us-banking-license/
Cryptocurrency exchange Circle is seeking a banking license from the federal government of the United States. If successful, this would be the first cryptocurrency exchange that becomes an official bank in the United States, which would be a major milestone for the cryptocurrency world.
Becoming a bank would give Circle some important benefits, such as being able to access the central banking system without intermediaries which would allow Circle to settle with other banks in different markets around the world. Also, Circle would be able to store money in the Federal Reserve, as well as take loans at the extremely low inter-bank federal funds rate of 1.75%, freeing Circle from dealing with higher-cost lenders. These benefits would improve the efficiency and reduce the cost of Circle’s services.
Read full article at https://bitcoinnews.com/circle-attempting-us-banking-license/
CEOs Give Massive Thumbs Down to Google’s Crypto Ban
Many finance industry executives have voiced their opinions on the recent decision by Google, following Facebook’s similar move, to ban cryptocurrency advertising.
In March 2018, Google issued a statement announcing that cryptocurrency-focused promotional content would no longer be allowed on all of its platforms. According to the statement, the ban covers adverts for ICOs, exchange platforms, and wallet services.
According to the Independent, CEO of digital banking startup Revolut, Philip Nunn, can only see the hypocrisy in the decision, arguing, “I understand that Facebook and Google are under a lot of pressure to regulate what their users are reading, but they are still advertising gambling websites and other unethical practices.”
Read full article at https://bitcoinnews.com/ceos-give-massive-thumbs-down-to-googles-crypto-ban/
Many finance industry executives have voiced their opinions on the recent decision by Google, following Facebook’s similar move, to ban cryptocurrency advertising.
In March 2018, Google issued a statement announcing that cryptocurrency-focused promotional content would no longer be allowed on all of its platforms. According to the statement, the ban covers adverts for ICOs, exchange platforms, and wallet services.
According to the Independent, CEO of digital banking startup Revolut, Philip Nunn, can only see the hypocrisy in the decision, arguing, “I understand that Facebook and Google are under a lot of pressure to regulate what their users are reading, but they are still advertising gambling websites and other unethical practices.”
Read full article at https://bitcoinnews.com/ceos-give-massive-thumbs-down-to-googles-crypto-ban/
Giant Investment Firm Susquehanna Begins Offering Crypto Trading
Susquehanna International Group based just outside of Philadelphia, Pennsylvania is one of the largest investment firms in the world, and now is opening up cryptocurrency trading and investments to a small group of 500 clients. It is are looking to expand its cryptocurrency operations to many more clients if all goes well.
Read full article at https://bitcoinnews.com/giant-investment-firm-susquehanna-begins-offering-crypto-trading/
Susquehanna International Group based just outside of Philadelphia, Pennsylvania is one of the largest investment firms in the world, and now is opening up cryptocurrency trading and investments to a small group of 500 clients. It is are looking to expand its cryptocurrency operations to many more clients if all goes well.
Read full article at https://bitcoinnews.com/giant-investment-firm-susquehanna-begins-offering-crypto-trading/
CFTC Commissioner: Crypto Will ‘Proliferate To Every Economy’
Rostin Benham, a commissioner at the United States Commodity Futures Trading Commission (CFTC), stated that “cryptocurrencies will proliferate to every economy and every part of the planet”, calling crypto a “modern miracle”.
He believed blockchain had the potential to address the world’s most pressing problems like poverty, corruption, food, and healthcare. He made these comments regarding cryptocurrency during a speech at the Blockchain for Impact Global Summit at the United Nations Plaza in New York City on 4 June 2018.
Read full article at https://bitcoinnews.com/cftc-commissioner-crypto-will-proliferate-to-every-economy/
Rostin Benham, a commissioner at the United States Commodity Futures Trading Commission (CFTC), stated that “cryptocurrencies will proliferate to every economy and every part of the planet”, calling crypto a “modern miracle”.
He believed blockchain had the potential to address the world’s most pressing problems like poverty, corruption, food, and healthcare. He made these comments regarding cryptocurrency during a speech at the Blockchain for Impact Global Summit at the United Nations Plaza in New York City on 4 June 2018.
Read full article at https://bitcoinnews.com/cftc-commissioner-crypto-will-proliferate-to-every-economy/
First Swiss Bank Open for Business to Crypto Companies
Hypothekarbank Lenzburg has become the first Swiss bank in the alpine country to provide business accounts to blockchain and cryptocurrency companies, Cointelegraph reported June 6.
Another financial institution, Zurich’s Falcon Private Bank, had offered crypto asset management services to its clients since last year, but Hypothekarbank has become the first to open company in the fintech sphere. The bank’s CEO Marianne Wildi said:
“As a bank that sets itself up technologically and pursues a cooperative strategy in the field of fintech, it is also a matter of credibility to work together with the young sector of crypto and blockchain companies in Switzerland.”
Read full article at https://bitcoinnews.com/first-swiss-bank-open-for-business-to-crypto-companies/
Hypothekarbank Lenzburg has become the first Swiss bank in the alpine country to provide business accounts to blockchain and cryptocurrency companies, Cointelegraph reported June 6.
Another financial institution, Zurich’s Falcon Private Bank, had offered crypto asset management services to its clients since last year, but Hypothekarbank has become the first to open company in the fintech sphere. The bank’s CEO Marianne Wildi said:
“As a bank that sets itself up technologically and pursues a cooperative strategy in the field of fintech, it is also a matter of credibility to work together with the young sector of crypto and blockchain companies in Switzerland.”
Read full article at https://bitcoinnews.com/first-swiss-bank-open-for-business-to-crypto-companies/
Huobi to Develop as Decentralized Autonomous Organization
Huobi, one of the biggest cryptocurrency exchanges in the world, has announced that it is offering 30 million Huobi Tokens (HT) to fund the development of the Huobi Chain Project. Its ultimate goal is to move its entire operation onto a public blockchain, so that they become decentralized and autonomous.
Gordon Chen, a senior Huobi executive, says this will be the first experiment of its kind to transform a centralized corporation into a decentralized organization. Chen believes in the future, autonomous organizations will replace modern day corporations and he wants Huobi to lead this transition.
Read full article at https://bitcoinnews.com/huobi-to-develop-as-decentralized-autonomous-organization/
Huobi, one of the biggest cryptocurrency exchanges in the world, has announced that it is offering 30 million Huobi Tokens (HT) to fund the development of the Huobi Chain Project. Its ultimate goal is to move its entire operation onto a public blockchain, so that they become decentralized and autonomous.
Gordon Chen, a senior Huobi executive, says this will be the first experiment of its kind to transform a centralized corporation into a decentralized organization. Chen believes in the future, autonomous organizations will replace modern day corporations and he wants Huobi to lead this transition.
Read full article at https://bitcoinnews.com/huobi-to-develop-as-decentralized-autonomous-organization/
South Korean Police Treats Crypto Margin Trading as Illegal Gambling
The Cyber Criminal Investigation Unit of the Southern Provincial police department of South Korea has declared that a margin trading service offered on the Coinone exchange from November 2016 to December 2017 is equivalent to illegal gambling. Three Coinone executives and 20 high-volume margin traders will be arrested and prosecuted.
Coinone is the third largest cryptocurrency exchange in South Korea behind Upbeat and Bitsum, and currently handles tens of millions of US dollars per day of cryptocurrency trading. This is the first time police have investigated Coinone; the investigation process started in August 2017. It took them considerable time to study the law regarding this case.
Read the full article at https://bitcoinnews.com/south-korean-police-treats-crypto-margin-trading-as-illegal-gambling/
The Cyber Criminal Investigation Unit of the Southern Provincial police department of South Korea has declared that a margin trading service offered on the Coinone exchange from November 2016 to December 2017 is equivalent to illegal gambling. Three Coinone executives and 20 high-volume margin traders will be arrested and prosecuted.
Coinone is the third largest cryptocurrency exchange in South Korea behind Upbeat and Bitsum, and currently handles tens of millions of US dollars per day of cryptocurrency trading. This is the first time police have investigated Coinone; the investigation process started in August 2017. It took them considerable time to study the law regarding this case.
Read the full article at https://bitcoinnews.com/south-korean-police-treats-crypto-margin-trading-as-illegal-gambling/
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