Phil Potter, Chief Strategy Officer of Bitfinex Leaves the Company

Bitfinex’s Chief Strategy Officer Leaves Crypto Exchange According to Reuters report, Phil Potter, who is one of the directors of ‘stablecoin’ issuing company Tether, will be replaced by Jan Ludovicus van der Velde, Bitfinex’s CEO. Phil Potter said to Coindesk: As Bitfinex pivots away from the U.S., I felt that, …

Financial Services Agency (FSA) has sent Business Improvement Orders to Six Major Cryptocurrency Exchanges

Japan Targeted 6 Licensed Cryptocurrency Exchanges with Business Improvement Orders Japan’s financial regulator the Financial Service (FSA) has sent business improvement orders with six major cryptocurrency exchanges. As stated in press releases in their website, the FSA has demanded a risk management redesign – focused on anti-money laundering (AML) and …

Four Arrested for Running Fake Crypto Exchanges in Ukraine

Ukrainian Police Arrested Four Men for Running Fake Crypto Exchanges As per a report on 21st June, Ukrainian Police have detained four men suspected of running six fake crypto exchanges. All four aged between 20 and 26 purportedly started at least six cryptocurrency exchanges, where they deceived users, afterward stealing …

Korean Ministry to Investigate Bithumb Crypto Exchange Hack

The South Korean Ministry of Science and Technology (MIC) has Launched an Investigation into the Theft of $30 mln from Bithumb MIC has started an inquiry under the robbery of $30 mln from the world’s sixth biggest crypto exchange Bithumb. Bithumb, which is the best crypto exchange in South Korea, …

Centralized vs. Decentralized Exchanges: Do We Need Both?

As the Bitcoin market matures, it will grow and change. Exchanges represent the forefront of this ongoing development. In their simplest form, exchanges are a venue for moving cryptocurrency between users. They also function as a way of converting the value stored in one cryptocurrency to another. Two main forms …

Korea Will Regulate Cryptocurrency Exchanges, Helping To Legitimize The Country’s Crypto Industry

Korea Financial Intelligence Unit (KFIU) Will Regulate Cryptocurrency Exchanges Like Banks And Legitimizing Industry The Korea Financial Intelligence Unit (KFIU) and other neighbouring financial related offices to control cryptocurrency exchanges similar to banks, imposing strict anti-money laundering (AML) strategies to guarantee criminals don’t use cryptocurrencies to finance illegal operations. Same …

South Korea based Crypto Exchange Hacked with Cryptocurrencies Worth $40 Million

Coinrail Exchange Hacked, Possible Loss of $40 Million in Cryptos South Korea based cryptocurrency exchange, Coinrail, stated on Sunday its platform had been hacked, with other sources suggesting it lost digital currencies totaling as much as $40 million in the attack. As per its website, the exchange has already suspended …

SBI started Japan’s First Bank-Backed Crypto Exchange

Japanese Financial Giant SBI Holdings Announced that its in-house Cryptocurrency Exchange is now Live Japanese financial great SBI Holdings declared that its in-house cryptocurrency trade would be live, after a months-long delay because of security worries. Known as VCTRADE, the administration will be at present only open for clients who …

Singapore Recommends Regulatory Changes for Decentralized Exchanges

Singapore Suggests Changes to Existing Regulation for Decentralized Exchanges The Monetary Authority of Singapore (MAS), the city-state’s de facto central bank, recommending changes to current regulations that would ease market entry for blockchain-based decentralized exchanges. As per a consulting paper Monetary Authority of Singapore (MAS) states that the current single-tier …

Coincheck Bans Monero, Zcash, Dash and Augur

FSA Ban Affected Exchanges, Coinckeck Removed Monero including Other Coins According to the reports, Coincheck has confirmed the rumors that it will be removing Monero (XMR), Zcash (ZEC), Dash and Augur’s Reputation (REP)  from trading on its platform. Due to Japan’s Financial Services Agency’s new policy, which recommends blocking cryptocurrencies …

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