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Tag Archives: banks

Report: Suspicious Transactions at Korean Exchange Coinrail Months Before Hack

Following the announcement by South Korean crypto exchange Coinrail that it has been hacked, a local publication reported that some banks had identified suspicious transactions at the exchange and stopped providing services to company months before the incident. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Suspicious Transactions Detected South Korea’s seventh-largest cryptocurrency exchange, […]

Iran Continues to Develop State Cryptocurrency Despite Central Bank Ban

Iran has been developing its own cryptocurrency, a project which has yielded an experimental local crypto, despite the country’s central bank banning banks from dealing with cryptocurrencies. Iran’s Information and Communications Technology Minister has shed light on the project, commented on its alleged use to evade sanctions, and clarified the central bank’s action. Also read: Yahoo! […]

Know Your Transaction Is the KYC of Blockchain

You’ve heard of KYC – Know Your Customer – and possibly also KYT – Know Your Transaction – but have likely yet to experience it in action. KYC have lately become the norm for crowdsale registration and exchange verification. Now, KYT is on the rise, and it threatens to blacklist bitcoiners whose cryptocurrency is deemed […]

Credit Suisse and ING Group Complete $30 Million Securities Lending Transaction Using Blockchain Technology

Yesterday, Credit Suisse and ING Group completed a 25 million euro ($30.48 million) securities lending transaction using blockchain-based software. The transaction involved the banks swapping baskets of securities through an application from fintech company HQLAx, which was built with a blockchain created by bank consortium R3. The trade was one of the first examples of […]

Israeli Bitcoin Company Sues Banks for Not Letting it Open Accounts

An Israeli company that was created in January has gotten its business rejected by all banks in the country, and is now suing them. Without a bank account, an Israeli exchange would not be able to legally receive fiat transfers from clients, effectively preventing it from starting operations. Also Read: Israel Tax Authority: Bitcoin is […]

Korean Prime Minister: Closing Down Crypto Exchanges ‘Not a Serious Consideration’

The South Korean prime minister has emphasized that closing down cryptocurrency exchanges is not a serious consideration. His statement clears up any remaining confusion in the market regarding whether the Korean regulators are still considering this option. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Closing Down Exchanges Not Serious Consideration Lee […]

Banning Bitcoin Trading: American bank Merrill Lynch Announces

Another banks moves in contrary to the growing wave of cryptocurrency – The american Bank Merrill Lynch just declared that it was banning BTC-related trading or investing for its costumers and advisors. The financial entity pointed out that the advisors are not allowed to accept orders from its costumers to pair crypto in the Grayscale […]

Korean Lawyers Take Government to Court over Crypto Regulation

A law firm from Seoul has decided to address arbitrary measures taken by authorities to regulate cryptocurrency trade. Korean lawyers have filed an appeal accusing their government of “unconstitutional” infringement on property rights. Newly imposed rules are devaluing virtual currencies, they say. Also read: Koreans Deposited 64 Times More Fiat Into Crypto Exchanges in 2017 […]