A new regulatory overhaul could put 40 out of 60 exchanges out of business in South Korea after the firms are expected to fail to meet the conditions that are being proposed by the Financial Services Commission (FSC). The regulatory overhaul might also affect holders of locally used “kimchi” coins, which won’t trade them for fiat in other exchanges. This could bring losses of more than $2.6 billion.
Bitcoin’s ($BTC) price rose above $45K again after a comparatively low activity-filled weekend. The price of the top cryptocurrency lost $50K key support during last week’s market flash crash. $BTC was looking well set to test $55K resistance but now is struggling to build momentum above $50K.
The head of Argentina’s central bank revealed that the bank is closely observing cryptocurrencies. He has no issue with those that choose to accept them for payments. He criticized digital currencies for their volatility, lack of legal tender status, and being prone to cyber-attacks as some of the reasons they can’t be used as currencies in the South American country. Countries across the world are actively working on crypto regulations.
The New York Attorney General (NYAG) has won a victory against crypto exchange Coinseed for its dodgy dealings with Dogecoin and defrauding its customers.
The use of cryptocurrency has seen a significant increase in Italy where more and more users are using this virtual currency as a payment option. These cryptocurrencies’ growth has become a real worry as it can damage the market in this country.
On Monday, September 13, rumors about Walmart supporting Litecoin payments stormed Satoshi Street. The news appeared on credible press-news distributer GlobeNewswire who has now pulled down the story after the Litecoin Foundation and Walmart confirmed no such reality.
The United States Securities and Exchange Commission (SEC) has charged three of Chinese billionaire Guo Wengui’s companies over an initial coin offering (ICO) and initial public offering (IPO) that fetched around $487 million combined.
Ethereum Foundation (EF) and Ethereum Name Service (ENS) are happily supporting Spruce’s mission of providing a decentralized user identity verification system using Ethereum.
A little-known cryptocurrency has surged by triple-digit percentage points after a surprise listing on a major cryptocurrency exchange.