Japan’s bitFlyer Halts Taking on New Business to Fix Issues Following FSA Order

bitFlyer, Japan’s largest Bitcoin exchange, is being forced to stop taking on new business after regulators said it wasn’t doing enough to stop money laundering and terrorist financing. The move by the Tokyo-based exchange saw a drop in the price of the coin and highlights how the country’s financial watchdog, the Financial Services Agency (FSA),

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Goldman Sachs Explore Crypto Trades, Can’t Rule It Out Having a Future in Finance

Speaking at an event, Goldman Sachs CEO Lloyd Blankfein talked about Bitcoin in an optimistic light, saying that although he doesn’t own any, he can’t rule out the cryptocurrency having a future in the world of finance. In other Goldman news, COO David Solomon has said that the firm is exploring alternative cryptocurrency trades beyond the

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Report: Tether Does Have Enough Dollar Reserves to Back All USDT in Circulation

A Washington-based law firm said today that the cryptocurrency Tether (USDT), which as its name suggests is pegged to the value of the U.S. dollar, holds enough U.S. dollar reserves to back all of its coins in circulation. The news couldn’t come at a better time. Just last week a University of Texas research paper

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Two of Russia’s Largest Banks to Offer Crypto Trading in Six Top Coins

Two of Russia’s largest banks, Alfa Bank and Sberbank, will soon be offering clients access to cryptocurrency portfolios that will permit the trading of six popular coins on major exchanges Kraken and Bitstamp. Crypto Trading Portfolio Alfa Bank is the largest private bank in Russia, while Sberbank is state-owned and is responsible for processing government employee

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Japan’s Largest Crypto Exchanges to Face the Wrath of the FSA

Japan’s Financial Services Agency (FSA) will be taking administrative action against several registered cryptocurrency exchange operators in the country. These exchanges include Quoine, Bitbank, BITPoint Japan, BtcBox, and industry leader BitFlyer, who authorities claim don’t have proper internal management systems in place, including measures to prevent money laundering.  FSA Crackdown The moves were announced today, and

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OTC Trading Platform Paxful Is At the Forefront of a Crypto Boom in Africa

Current financial, social, and economic conditions in Africa have contributed to the surging popularity of cryptocurrencies on the continent. For the over-the-counter (OTC) crypto trading platform Paxful, African customers account for almost $7.5 million in transactions per month. Interestingly, half of these crypto enthusiasts are under 30-years-old and either have a college degree or are

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South Korea’s Central Bank Opposes Issuing a Central Bank Digital Currency

South Korea’s central bank has said that it opposes the idea of issuing a central bank digital currency (CBDC). The news comes from the Bank of Korea’s (BOK’s) report about coins and the crypto-ecosystem, which looked at the possibility of issuing a CBDC and also how digital currencies might influence Korea’s financial sector as a

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Authorities Track Bitcoin Transactions of Dark Web Drug Dealer, Arrested

A 36-year-old French national plead guilty this week in U.S. courts for selling narcotics for Bitcoin on the dark web. Guy Vallerius, who operated under the monkier ‘OxyMonster,’ was arrested by authorities at the Atalanta airport last September as he was making his way to Austin, Texas to take part in the World Beard and

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‘My Big Coin’ in Court This Week as CFTC Tries to Combat Crypto Fraud

The case against embattled cryptocurrency startup My Big Coin is being watched closely by industry insiders, as it will help determine whether or not the U.S. Commodity Futures Trading Commission has the authority to combat potential fraud associated with the coin and others.  Jurisdiction of U.S. Regulators In line with increased attempts this year by

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Hotmail Founder Criticizes the Valuation and Business Models of Cryptocurrencies

Taking a page from the CEO of JPMorgan, Jamie Dimon’s, book, Sabeer Bhatia, the founder of internet giant Hotmail.com, has explained why he isn’t fond of cryptocurrencies, even going so far as to call them a ‘fraud.’ Bhatia on Cryptocurrencies Despite the fact that cryptocurrencies and associated blockchain technology are having an increasingly large impact on

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