Cryptocurrency Restrictions Tightened in China

News, Regulation | January 16, 2018 By:

China is stepping up its ongoing crackdown on cryptocurrency exchanges. The Chinese government is now reportedly targeting online platforms and mobile apps providing trading services to cryptocurrency users, Bloomberg reported Monday, citing unnamed sources.

According to a source, Chinese authorities plan to block domestic access to Chinese and international cryptocurrency platforms that allow centralized trading.

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South Korea Cryptocurrency Crackdown: Crypto Traders Could Face Fines

Mergers, Regulation | January 15, 2018 By:

The South Korean financial authorities are planning to impose penalties against local cryptocurrency traders who refuse to convert their virtual accounts into real-name ones.

Cryptocurrency investors are currently able to trade anonymously by using virtual accounts. The government, however, will implement new measures to crack down on cryptocurrency trading on or around January 20.

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South Korea Cryptocurrency Crackdown: Crypto Exchange Ban Not Finalized

Investing, News, Regulation | January 12, 2018 By:

South Korea’s presidential office said that the proposed ban on cryptocurrency trading is not “finalized.”

The statement came after Park Sang-ki, South Korea’s justice minister, revealed plans to ban all cryptocurrency trading through exchanges. He expressed “grave concerns” over the heightened adoption and craze among the general public for cryptocurrencies.

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South Korea Cryptocurrency Crackdown: All Crypto Trading May Be Banned

News, Regulation | January 11, 2018 By:

The South Korean government is reportedly preparing a bill to ban all cryptocurrency trading in the country.

The move was revealed by Park Sang-ki, South Korea’s justice minister, at a press conference. He claimed that there are great concerns regarding cryptocurrencies and the justice ministry is preparing a bill to ban cryptocurrency trading through exchanges.

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“Petro” Cryptocurrency Declared Illegal By Venezuela’s Congress

News | January 11, 2018 By:

Venezuela’s opposition-run congress, the Asemblea Nacional, has outlawed president Nicolas Maduro’s oil-backed cryptocurrency, called the “Petro.”

The cryptocurrency was first announced at the beginning of December to help combat the US’ “blockade” against  Venezuela. At the time, Maduro said it will enable the country to advance in monetary sovereignty and carry out its transactions to overcome the financial blockade.

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South Korea Cryptocurrency Crackdown: The Government Cooperates With China And Japan On Regulation

News, Regulation | January 10, 2018 By:

South Korea’s financial regulator is in talks with counterparts in China and Japan to cooperate on new rules for cryptocurrency trading.

Korean Financial Services Commission (FSC) chairman Choi Jong-ku revealed that vice finance ministers from the three countries had exchanged ideas on regulating cryptocurrencies during a meeting in South Korea last month.

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