• ‘Amazon of Japan’ Rakuten Launches Crypto Exchange Service

    Rakuten, the “Amazon of Japan,” announced the launch of its new crypto exchange platform.

    Aug 21, 2019
  • Report: 97% of S. Korean Crypto Exchanges ‘in Danger of Bankruptcy’

    A new report from Business Korea has claimed that the vast majority of domestic cryptocurrency exchanges are on the edge of bankruptcy.

    Aug 19, 2019
  • Report: UK’s Tax Authority Requests User Data From Crypto Exchanges

    The United Kingdom’s tax, payments and customs authority Her Majesty’s Revenue & Customs (HMRC) has reportedly requested that digital currency exchanges provide it with information about customers’ names and transactions aiming to identify cases of tax evasion.Crypto exchanges come under fireAccording to fintech-focused media outlet Coindesk, industry sources said that the agency has sent letters to at least three crypto exchanges in the U.K., including Coinbase, eToro, and, requesting that they provide lists of users and transaction data.HMRC is reportedly aiming to cooperate with crypto exchanges in a bid to identify individuals who evade taxes. According to the cited sources, the agency will probably only go back two or three years:“If they [HMRC] do only go back two or three years, I think the interesting thing here is, that the individuals who went into crypto very early on in 2012-13 will not be affected. The ones who probably made the largest gains won’t be affected, it will be the people who came in around the time crypto peaked.”HMRC reportedly confirmed that such requests are within the scope of its competence, specifically claiming:“These exchanges can retain information…

    Aug 7, 2019
  • Korean Financial Regulator Planning to Directly Regulate Cryptocurrency Exchanges

    The Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) has disclosed a plan to directly regulate cryptocurrency exchanges and bring them into the regulatory system. Currently, the FIU indirectly controls cryptocurrency exchanges through administrative guidance to banks.An FIU official said on Aug. 6 that the government will enhance the transparency of cryptocurrency transactions by introducing a “cryptocurrency exchange licensing system” recommended by the Financial Action Task Force (FATF).Lee Tae-hoon, head of administration and planning at the FIU, said, “If an amendment to the Act on Reporting and Use of Certain Financial Transaction Information, which reflects the FATF’s international standards for cryptocurrencies, passes the National Assembly, it will be possible to prevent money laundering through cryptocurrencies.”Lee was speaking at a public hearing on the enactment of a law to improve transparency in virtual asset trading held at the National Assembly Member’s Office building.“If the amendment is approved by lawmakers, we can raise the effectiveness of regulations by shifting from the current indirect regulation through commercial banks to direct regulation,” Lee said.In this regard, crypto exchanges and legal circles pointed…

    Aug 7, 2019
  • 110 Crypto Exchanges Want to Launch in Japan – A Look at Recent Changes

    Following G20 meetings, where Japan led several discussions regarding crypto assets, the country’s top financial regulator told that 110 crypto exchanges are now interested in launching in Japan. The country recently passed a new cryptocurrency bill, and some approved crypto trading platforms have undergone changes.110 Exchanges Want to Enter Japanese Crypto SpaceUnder Japanese law, companies wanting to operate crypto exchanges are required to register with the country’s top financial regulator, the Financial Services Agency (FSA). There are currently 19 registrants operating in the country, 16 of which were approved in 2017 while three were approved this year. However, many more crypto exchange operators have expressed interest in entering the Japanese crypto space.The FSA revealed Monday that these businesses are in various stages of registration such as “preliminary consultation” and “inquiries regarding registration,” adding:The number of crypto asset exchange service providers which have expressed their interest is about 110 as of June.Among applicants waiting to be approved is Line Corporation, which owns Japan’s most popular mobile messaging app, Line. The company currently operates an exchange called Bitbox, which is available worldwide except in…

    Jul 10, 2019
  • Binance Exchange to Launch Crypto Futures Trading with 20x Leverage

    Binance, the world’s largest cryptocurrency exchange by trading volume, is soon to launch futures trading.During a presentation at the Asia Blockchain Summit in Taipei on Tuesday, Changpeng “CZ” Zhao, founder and CEO of the exchange, showcased a futures trading interface on Binance with features including longs and shorts on crypto assets.“Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks,” he said. Referring to the screenshot of the interface showed on the stage, Zhao added:“This is an actual screenshot of the working system. So Binance futures is coming.”He indicated in his presentation slide that the leverage could be up to 20 times and will be offered for trading on bitcoin initially. While a firm releasing date of the feature is not yet set, a Binance spokesperson told it plans to launch the test in about two weeks from now.The futures trading feature comes after the firm rolled out margin trading on the platform last month.“Margin trading will roll out to all users first (around July 11…

    Jul 3, 2019
  • 48 Crypto Exchanges Approved in the Philippines

    The number of approved cryptocurrency exchanges has been growing in the Philippines.

    Jun 25, 2019
  • FATF Rules: All Global Crypto Exchanges Must Now Share Customer Data

    A powerful intergovernmental organization devoted to combating money laundering and terrorism financing has finalized its recommendations on regulating cryptocurrencies for its 37 member countries.

    Jun 24, 2019
  • Coinbase Selling Available Via PayPal in Canada

    According to a Coinbase blog article written by Allen Osgood, the crypto trading platform’s product manager, Coinbase has expanded its PayPal support to its Canadian customers.

    Jun 12, 2019
  • Bloomberg: Crypto Exchanges Are Facing Their Biggest Regulatory Hurdle Yet

    Bitcoin and its fellow cryptocurrencies have surged in popularity partly because they’ve offered a way to skirt the government oversight exercised over traditional financial systems. Well, get ready to kiss much of that autonomy goodbye.

    Jun 12, 2019
  • Yahoo Japan-Backed Exchange Launches Crypto-Yen Markets and Margin Trading

    Now, a year later, Yahoo Japan’s trading platform Taotao is open offering BTC and ETH trading while also providing users with margin trading available in litecoin (LTC), ripple (XRP) and bitcoin cash (BCH).

    Jun 11, 2019
  • Israeli Supreme Court Stops Bank From Closing Crypto Exchange’s Account

    Now the bank has been forced to accept that the company’s account will remain open indefinitely.

    Jun 4, 2019
  • Beyond KYC: Regulators Set to Adopt Tough New Rules for Crypto Exchanges

    The cryptocurrency industry is bracing for forthcoming international regulatory standards that would require exchanges to collect and share information about where and to whom they are sending money.

    May 21, 2019
  • South Korean Crypto Exchange Coinnest Announces Closure

    Coinnest, one of the largest Bitcoin exchanges in South Korea has announced that it will be shutting down following a litany of administrative, financial and legal issues.

    Apr 22, 2019
  • Report: 87% of Crypto Exchanges May Be Falsifying Volume

    At least 87 percent of cryptocurrency exchanges may have falsified their reported trade volumes, a new study claims.

    Mar 21, 2019
  • Nasdaq Stock Exchange Offers BTC and ETH Indices

    The Nasdaq stock exchange started offering real-time price indices for two most popular cryptocurrencies – Bitcoin (BTC) and Ethereum (ETH) on February 25.

    Feb 26, 2019

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