Category Archives: Cryptocurrency News

Regulators of South Korea will ban local exchanges from trading their own tokens

From June 26, South Korean cryptocurrency exchanges will be prohibited from placing for trading internal tokens or cryptocurrencies issued by relatives of the owners of these exchanges. Regulators in South Korea are constantly tightening their requirements for cryptocurrency exchanges, imposing more and more restrictions on them. The strengthening of regulatory control also affected exchange tokens. Trading platforms operating in South Korea are now prohibited from organizing trades with any cryptoassets that have been issued by…

Panamanian Congressman proposed to legalize cryptocurrencies as a means of payment

The Panamanian parliamentarian is preparing a bill aimed at legitimizing cryptocurrencies as a means of payment and providing tax incentives to cryptocurrency firms. After El Salvador’s President Nayib Bukele proposed legalizing bitcoin in the country, Panamanian MP Gabriel Silva responded to the initiative. He stated that if Panama is to become a true hub for technology and entrepreneurship, it must follow the lead of El Salvador and support the adoption of cryptocurrencies. Silva considered Bukele’s…

Attackers mail out fake Ledger Nano X hardware wallets in the mail

Email scams have long been known. However, now users of Ledger hardware wallets are receiving packages with fake devices allegedly sent by the manufacturer. In July 2020, Ledger announced a hack to its marketing database. The hacker attack did not affect the security of wallets, but led to the leakage of a million emails, and its consequences are still felt even after a year. A Ledger hardware wallet user whose data was also “leaked” posted…

Sygnum Bank will launch services for the storage and trading of DeFi tokens

Swiss digital bank Sygnum will provide services for institutional clients for the storage and trading of AAVE, ANT, CRV, MKR, SNX, UNI and 1INCH tokens, as well as USDC stablecoin. Sygnum announces that the bank’s clients will be able to directly invest in these cryptocurrencies. In the future, the bank plans to launch products and services related to decentralized finance (DeFi), and aimed at generating additional income. In addition, Sygnum will provide customized solutions for…

Electricity tax may be introduced in Kazakhstan for miners and data centers

Kazakhstan is a very attractive country for miners due to the lack of mining licenses and cheap electricity. However, the country may impose an electricity tax for miners. At the moment, Kazakhstan is the fourth state in terms of the generated hash rate in the Bitcoin network. Recently, the number of miners in the country has increased – some Chinese companies are exporting their capacities to Kazakhstan. However, with the introduction of a new tax,…

Central Bank of Nigeria will begin testing digital naira by the end of 2021

The head of the IT security department of the Central Bank of Nigeria, Rakiya Mohammed, announced that the regulator will begin testing its own digital currency this year. Mohammed explained that the digital currency of the Central Bank of Nigeria will act as a supplement to the state currency – Nigerian Naira, and also be used to ease restrictions on foreign exchange transactions in the country. However, the policy of the central bank to protect…

South Korea banned banks from servicing exchanges without following the KYC and AML rules

The Financial Services Commission of South Korea (FSC) has demanded that local banks stop providing services to traders and trading platforms that do not comply with KYC and AML procedures. According to the FSC, there are 60 cryptocurrency exchanges operating in the country today. Of these, only four are AML compliant using accounts with real names. Therefore, on June 9, the Financial Intelligence Unit of South Korea (FIU) held a meeting at which it stated…

Curve Finance has introduced a new model to improve the liquidity of a pool of volatile cryptoassets

The developers of the DeFi Curve Finance protocol have implemented a new model of work in the USDT / wETH / wBTC pool, which will allow achieving greater liquidity in the pool of volatile cryptoassets. The developers of Curve Finance, a decentralized exchange (DEX), have released a White Paper that describes a model for achieving greater liquidity in a pool of volatile cryptoassets using dynamic price pegging. The new version of Curve should appeal to…

Texas banks are allowed to provide cryptocurrency custody services

The Texas regulator has confirmed that state-registered banks are allowed to serve cryptocurrency firms and hold digital assets if reserves are available. According to the published document, banks can provide such custodian services, provided that they have developed appropriate policies for effective risk management and compliance with applicable laws. Considering that cryptocurrencies do not exist in physical form, but in the blockchain, the owner of cryptocurrencies has private keys with which he can access them.…

FSC will prohibit employees of South Korean exchanges from trading cryptoassets at the employer’s site

In accordance with the new requirements for the registration of cryptocurrency exchanges in South Korea, employees caught trading on the employer’s platform face a fine of up to 100 million won ($ 89,844). According to a statement from the South Korean Financial Services Commission (FSC), on June 3, the agency’s Financial Intelligence Unit met with executives from major South Korean cryptocurrency exchanges to brief them on the updated requirement. South Korea’s revised Financial Transaction Reporting…