According to industry experts, the closure of most of the small exchanges in South Korea due to the new regulation could lead to the destruction of forty-two “Kimchi cryptoassets.” According to the Financial Times, $ 2.6 billion worth of crypto assets could be destroyed after the September 24 deadline for registering cryptocurrency exchanges in South Korea. On March 25, 2021, amendments to the Financial Institutions Reporting Act (FTRA) came into force, which require exchanges to

CrossTower India, a cryptocurrency exchange for institutional investors, has opened in Mumbai. The company plans to use its branch as a springboard for expansion into neighboring regions. According to Kapil Rathi, co-founder and CEO of CrossTower, India is ranked 11th in the world for the distribution of crypto assets to the population and plays a key role in the region. According to Chainalysis, over the past year, the cryptocurrency market in India has grown more

The Robinhood platform has introduced a new feature for regular investments in cryptocurrencies based on the “average dollar value”. According to Robinhood, regular investments using the company’s new financial product – the dollar average value (DCA) – will help the company’s clients get a more predictable return on investments, reducing the risks of cryptocurrency volatility. The idea behind price averaging is that “you won’t earn as much as you could, but you will not lose

Cryptocurrency companies have appealed to a special committee of the Australian Senate with complaints about denial of service by banks without explaining the reasons. According to The Sydney Morning Herald, two cryptocurrency exchanges – Aus Merchant and Bitcoin Babe – have repeatedly denied banking services without explanation from financial institutions. Their leaders spoke at a meeting of the ad hoc committee of the Australian upper house of parliament, “Australia as a technology and financial center”,

The US Securities and Exchange Commission continues its “crusade” against cryptocurrency startups. This time, the SEC filed a lawsuit against the organizers of the Rivetz company for an unregistered ICO. The company Rivetz, which was developing a solution for identifying users on the blockchain, carried out a sale of RvT tokens in 2017 to fund its activities. Between July and September 2017, the company and founder Steven Sprague sold $ 18 million worth of RvT

Yesterday, the rate of bitcoin and the largest altcoins fell significantly. Against this background, the activity of traders has increased, and the largest American cryptocurrency exchanges have reported failures in the work of the platforms. Cryptocurrency exchange Coinbase has posted a “slowdown” warning on its website. Representatives of the exchange later reported on the social network Twitter about “an unexpected increase in network traffic and market activity.” “We are aware of delays and cancellations of

The SEC has warned cryptocurrency exchange Coinbase of a possible legal action if the company launches a high-yield savings product for the USDC stablecoin. Coinbase Chief Legal Officer Paul Grewal posted the warning he received from the US Securities and Exchange Commission (SEC) on his blog. In the article, Greval described how the company had been in talks with the SEC to launch the Lend product for six months, but last Wednesday the agency suddenly

A new bill, submitted to the Panama National Assembly, regulates the use of cryptocurrencies in the country, including the use as a means of payment. Under the new bill, proposed by Congressman Gabriel Silva of Panama, Panama will become a nation that supports the development of the digital economy, blockchain, cryptoassets and the Internet. According to the document, individuals in Panama or legal entities established in the country are free to use cryptocurrency as a

Payment system Visa announced cooperation with Brazilian banks. The company plans to provide cryptocurrency services to Brazilian citizens and make payments in BTC. This is reported by the Brazilian media. Vice President of Business Development for Visa Brazil, Eduardo Abreu, said the payment giant has partnered with several cryptocurrency firms in Brazil to integrate cryptocurrencies into the country’s traditional banking system and bring cryptocurrency cards to market. Banks will be able to connect to Visa’s

The US regulator’s investigation into Uniswap is just the beginning of a broader initiative targeting the entire decentralized finance sector. The Wall Street Journal previously reported that Uniswap Labs, which develops the popular decentralized exchange (DEX), is under investigation by the US Securities and Exchange Commission (SEC). The seriousness of the SEC’s intention to examine in detail the work of Uniswap Labs is confirmed by sources with close knowledge of the situation. They point specifically