Crypto Trading is Now Legal in South Korea

South Korea’s parliament has officially recognized crypto trading as legal in the country. The move comes after two years of deliberations into how to develop concrete guidelines for cryptocurrencies. South Korea Legalizes Crypto Trading According to The News Asia, South Korea’s National Assembly passed an amendment to its Reporting and Use of Specific Financial Information Act, legalizing cryptocurrency trading. Local South Korea media outlet Maeil Kyungjae revealed that the motion to amend the bill received […]

Upbit Reports ‘Irregular Withdrawal’ of $51 Million in Ethereum

upbit ethereum hack

Upbit, one of the ‘big four’ South Korean crypto exchanges has reported an irregular 342,000 Ethereum (ETH) withdrawal from its wallet. While details remain sketchy as to the nature of the withdrawal, the platform says it will cover the amount from its corporate funds. Upbit: Irregular Withdrawal or Crypto Exchange Hack? In what seems like a possible hack, Upbit released an official statement on its website revealing an irregular withdrawal of 342,000 ETH (about $51

The post Upbit Reports ‘Irregular Withdrawal’ of $51 Million in Ethereum appeared first on Bitcoinist.com.

Bitmain Power Struggle Heats Up as Co-Founder Wrestles For Control

bitmain power struggle

Chinese mining giant Bitmain is in the midst of a power struggle. Co-founder Micree Zhan who was ousted last week has returned with a vengeance asserting that he will use a legal team to regain control of the company. Bitmain Battle Rages On Last week’s news that Jihan Wu had taken control of the world’s largest bitcoin mining hardware supplier was music to the ears of Bitcoin Cash holders. Wu is a big proponent of

The post Bitmain Power Struggle Heats Up as Co-Founder Wrestles For Control appeared first on Bitcoinist.com.

Bitcoin Mining is Not Banned in China: Report

bitcoin btc mining china

All bitcoin and crypto market bullishness is emanating from China at the moment. One industry insider has just revealed that, contrary to earlier reports, China will not be banning bitcoin mining. No Bitcoin Mining Ban in China Within the past hour or so Chinese industry insider and Primitive Crypto founding partner, Dovey Wan, posted an official announcement stating that bitcoin and crypto mining has been removed from a list of industries that Beijing was planning

The post Bitcoin Mining is Not Banned in China: Report appeared first on Bitcoinist.com.

India: Gov’t Committee Recommends Blanket Cryptocurrency Ban

bitcoin ban india official

The Inter-Ministerial Committee (IMC) set up to look into bitcoin and cryptocurrency regulations in India says the government should ban virtual currencies. India May Soon Finalize Total Bitcoin Ban In a report submitted on Monday (July 22, 2019) the IMC recommended that the government institutes a total bitcoin ban. An excerpt from the report reads: As for private cryptocurrencies, given the risks associated with them and volatility in their prices, the Group has recommended banning

The post India: Gov’t Committee Recommends Blanket Cryptocurrency Ban appeared first on Bitcoinist.com.

AT&T Will Now Accept Bitcoin For Your Phone Bill

at&t att bitcoin

US-based mobile users can now use bitcoin and cryptocurrency to pay their bill thanks to a new partnership between AT&T and BitPay. AT&T Will Take Your Bitcoin Bitcoin’s path to mass adoption continues forward as major US telecom giant AT&T has announced that customers now have the option to pay their bills in cryptocurrency. The addition of crypto payments makes AT&T the first major U.S. mobile carrier to offer this option and Kevin McDorman, AT&T’s

The post AT&T Will Now Accept Bitcoin For Your Phone Bill appeared first on Bitcoinist.com.

Bitcoin Price ‘Flash Crashes’ To $6.1K – Here’s The Likely Reason Why

bitcoin price chart flash crash

A 5,000 BTC dump on Bitstamp likely caused the bitcoin price flash crash that occurred during the early hours (UTC) of Friday (May 17, 2019). Bitcoin plunged to as low as $6,100 on the exchange but has since recovered over $7,000 over the past few hours. Whale Dump, ‘Fat Finger Error,’ or Bot Glitch A trader on the Bitstamp exchange reportedly put up a sell order of 5,000 BTC at an oddly low price of

The post Bitcoin Price ‘Flash Crashes’ To $6.1K – Here’s The Likely Reason Why appeared first on Bitcoinist.com.

Indian Crypto Companies Are Now Helping Thailand’s Banks Instead

Indian tech multinational, Wipro, has developed a blockchain-based solution for banks in Thailand to settle dues. This comes as Indian government and banking authorities look to enact a blanket ban on all non-state-issued cryptocurrencies back home. Thai Banking System Embraces Blockchain Technology The settlement solution is a part of the first phase of Project Inthanon, which launched in August 2018.  The initiative, led by Bank of Thailand, aims to ultimately implement a national Central Bank Digital Currency (CBDC). Phase

The post Indian Crypto Companies Are Now Helping Thailand’s Banks Instead appeared first on Bitcoinist.com.

Mob Rule? The Call To Delist Tether Grows

Tether bitfinex

In case you’ve been away, there’s been a bit of a hoo-hah regarding Tether over the past week or so. This has now descended into open calls for Binance and other exchanges to delist ‘the original stablecoin’. A Strong And Stable Governance The story so far: Payment processor, Crypto Capital Corp, “seizes and safeguards” $850 million of Bitfinex funds. Bitfinex takes an interest-bearing loan from affiliated stablecoin Tether’s US dollar reserves, to plug the gap. Bitfinex

The post Mob Rule? The Call To Delist Tether Grows appeared first on Bitcoinist.com.

Bitfinex: $850M Lost Tether ‘False Assertion’

new york nyc Bitcoin regulation

Following the New York Attorney General’s accusations of a $850M cover-up by Bitfinex, the company has issued its response. Binfinex refutes the claims as ‘riddled with false assertions’ and that the funds are not lost.  The Cover-Up Claims According to the NY Attorney General’s claim, Bitfinex lost $850 million of customer money. This had been sent to, and seized by payment processing firm, Crypto Capital Corp. The allegation goes on to say that Bitfinex used

The post Bitfinex: $850M Lost Tether ‘False Assertion’ appeared first on Bitcoinist.com.

Binance Officially Delists Bitcoin SV (BSV) In an Unprecedented Move

binance bsv delist

Binance has officially announced that it will delist Bitcoin SV from its list of supported tokens. The cryptocurrency exchange has given traders a one-week grace period to adjust to its decision. Binance Officially Delists BSV In a statement published on its website on Monday (April 15, 2019), Binance announced its decision to delist Bitcoin SV (Satoshi’s Vision). An excerpt from the statement reads: At Binance, we periodically review each digital asset we list to ensure

The post Binance Officially Delists Bitcoin SV (BSV) In an Unprecedented Move appeared first on Bitcoinist.com.

Bitcoin Donations Pour In For Julian Assange After Arrest

Figures from across cryptocurrency were lobbying for donations to WikiLeaks founder Julian Assange April 11 as UK police arrested him after Ecuador rescinded his asylum. Ecuador President: Assange ‘Violated’ Terms Assange, who had been resident at the Ecuadorian embassy in London for seven years, suddenly found himself in police custody Thursday morning after the country’s president reversed his claim. The reason, Lenin Moreno claimed, was Assange’s alleged violations of the terms of his shelter, which

The post Bitcoin Donations Pour In For Julian Assange After Arrest appeared first on Bitcoinist.com.

Bithumb Hacked Again? – Hackers Reportedly Steal $15 Million in EOS

bithumb bitcoin eos

Bithumb temporarily suspended deposit and withdrawal services on its platform. The South Korean cryptocurrency exchange appears to be the latest victim of another hack with $15 million worth of EOS allegedly stolen by cybercriminals. Bithumb Admits Suspicious Activity In a notice published on the company’s website on Saturday (March 30, 2019), Bithumb apologized to its users for inconveniences suffered on account of its decision to temporarily suspend deposit and withdrawals services on the platform. According

The post Bithumb Hacked Again? – Hackers Reportedly Steal $15 Million in EOS appeared first on Bitcoinist.com.

Switzerland’s Biggest Online Retailer Starts Accepting Bitcoin

Digitec Galaxus switzerland bitcoin cryptocurrency

In a major milestone for bitcoin adoption, the ‘Amazon’ of Switzerland Digitec-Galaxus is now accepting bitcoin and other select cryptocurrencies as a means of payment. ‘We Wanted to Do This for a Long Time’ Swiss customers of Digitec and Galaxus can now pay with bitcoin when shopping online. In addition to BTC, other altcoins that will be accepted include Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), TRON (TRX),

The post Switzerland’s Biggest Online Retailer Starts Accepting Bitcoin appeared first on Bitcoinist.com.

New Zealand Terrorist Claims He Made Money From BitConnect

The perpetrator of the mass killings at New Zealand mosque appears to have funded his life with investments he made in defunct cryptocurrency BitConnect. Tarrant Used BitConnect Funds For ‘Travel’ As various media publications report citing a document which claims to be a manifesto by Brenton Tarrant, cryptocurrency investments allowed him to travel at an unspecified point in the past. [Editor’s note: It should be noted that no official confirmation of the document’s legitimacy has

The post New Zealand Terrorist Claims He Made Money From BitConnect appeared first on Bitcoinist.com.

New Zealand Terrorist Claims He Made Money From BitConnect

The perpetrator of the mass killings at New Zealand mosque appears to have funded his life with investments he made in defunct cryptocurrency BitConnect. Tarrant Used BitConnect Funds For ‘Travel’ As various media publications report citing a document which claims to be a manifesto by Brenton Tarrant, cryptocurrency investments allowed him to travel at an unspecified point in the past. [Editor’s note: It should be noted that no official confirmation of the document’s legitimacy has

The post New Zealand Terrorist Claims He Made Money From BitConnect appeared first on Bitcoinist.com.

Fidelity Becomes First Financial Institution to Take Bitcoin Lightning ‘Torch’

lightning network fidelity investments digital assets

Fidelity Digital, the digital assets arm of Fidelity Investments, has become the first financial institution to receive the so-called bitcoin payments ‘torch’ that is being relayed from user to user around the globe via Bitcoin’s Lightning network.  Fidelity Becomes First Bank to Take the #LNTorch With more than 27 million customers, Fidelity manages $7.2 trillion dollars in total assets. It’s the United States leader in 401(k) retirement savings plans and is one of the largest 403(b) retirement

The post Fidelity Becomes First Financial Institution to Take Bitcoin Lightning ‘Torch’ appeared first on Bitcoinist.com.

JPMorgan Unveils First Bank-Backed ‘JPM Coin’ Cryptocurrency

jpmorgan

International investment bank and notorious Bitcoin skeptic JPMorgan Chase will be the first US bank to issue its own cryptocurrency. JPMorgan: ‘Endless’ Use Cases For Cryptocurrency In a surprising move, Umar Farooq, head of JPMorgan’s blockchain operations, told CNBC trials of JPM Coin would start in the coming months and that three use cases had already emerged. “The applications are frankly quite endless; anything where you have a distributed ledger which involves corporations or institutions

The post JPMorgan Unveils First Bank-Backed ‘JPM Coin’ Cryptocurrency appeared first on Bitcoinist.com.

Jack Dorsey: Lightning Coming To Square Cash App Is ‘When’, Not ‘If’

Square Cash App

Twitter CEO Jack Dorsey has all but confirmed that Bitcoin’s Lightning Network will feature in the payment wallet and app built by his other company, Square. Focus On Speed And Efficiency Speaking on the Stephan Livera podcast February 11, Dorsey, joined Lightning Labs CEO Elizabeth Stark in discussing Lightning’s ideals and his personal belief in the protocol. Asked whether this would lead to integration with Square’s Cash app, the answer that came was surprisingly candid. “We

The post Jack Dorsey: Lightning Coming To Square Cash App Is ‘When’, Not ‘If’ appeared first on Bitcoinist.com.

Iran Lifts Bitcoin Ban to Make Way For ‘Crypto-Rial’

Iran Considers State-Issued Cryptocurrency Ahead of Imminent US Sanctions

Iran has lifted the ban on Bitcoin and cryptocurrency as it takes another step towards its own sovereign cryptocurrency amid talks with foreign nations as potential partners. Iran Unbans Bitcoin, ICOs Today, Iran’s central bank has released an early draft of its cryptocurrency laws, lifting the previous ban on Bitcoin, cryptocurrencies, digital tokens, and ICOs, reports to Al Jazeera. Nevertheless, the regulations will impose restrictions on the use of virtual currencies inside the country. Thus,

The post Iran Lifts Bitcoin Ban to Make Way For ‘Crypto-Rial’ appeared first on Bitcoinist.com.