There has been another twist in the South Korean government’s outlook on cryptocurrency. This time the news is negative, but altogether not too surprising: All South Korean government officials have been banned from holding and trading in any cryptocurrency. South Korea is the world’s leading cryptocurrency market behind the United States and Japan. The news was […]
Cryptocurrency experts believe that if a large and trusted retailer such as Amazon were to start accepting crypto coins, that would be a substantial and positive step toward legitimizing cryptocurrency among mainstream consumers. But what if instead of accepting crypto, Amazon decided to create their own virtual coins instead? Since the retail juggernaut has expanded […]
The Republic of the Marshall Islands, an nation of islands and tiny atolls in the Pacific Ocean, will become the first government in the world to create a cryptocurrency as a state-backed legal tender. The RMI-backed cryptocurrency, formalized into law in late February, will be called a Sovereign and, informally, a “SOV.” Once issued, the SOV […]
Online payments giant PayPal has filed a patent for a system designed to improve the speed of cryptocurrency payments by several orders of magnitude, allowing transactions to occur in milliseconds instead of minutes. An application for an “Expedited Virtual Currency Transaction System” was published March 1 by the U.S. Patent and Trademark Office. It describes a […]
The parent company of Mercedes-Benz, Daimler AG, just launched its own cryptocurrency, called MobiCoin, at the Mobile World Congress in Barcelona. The coin will initially be used to reward drivers for environmentally friendly driving at lower speeds and without accidents. The German global car giant joins Porsche and BMW in a race to make crypto […]
SBI Holdings, one of Japan’s biggest investment banks with over 5,000 employees, investments in more than 100 countries, and a significant player in both cutting-edge financial services and biotechnology has just purchased a 40% stake in CoolBitX, a Taiwanese crypto hard wallet. The dollar amount of the investment has not been released. Unlike financial companies […]
After a period of internal procedural review, the United States Commodity Futures Trading Commission will permit its employees to trade in cryptocurrencies. However, CFTC employees will still be prohibited from trading in Bitcoin futures. The CFTC, along with the Securities and Exchange Commission, act as the regulators and legislative overseers of assets and commodities on a […]
A group of multinational investors is said to have lost as much as $50 million after funneling their money into a Bitcoin investment group called Bitcoin Global. The group consisted mainly of South Africans, but the group also included Americans and Australians. First reported by a South Africa’s Sunday Times, up to 27, 500 people may […]
The January hack of cryptocurrency exchange Coincheck for over $534 million in NEM sparked a crackdown from Japanese regulators, who descended on exchanges and began to ask hard questions about accounting and security at the fledgling operations. Coincheck CEO Koichiro Wada and COO Yusuke Otsuka apologized with deep bows and issued statements. “We sincerely apologize to all […]
Global payment system Fleetcor and cryptocurrency Ripple (XRP) have struck a deal to work together, making it the latest payment provider to test Ripple’s xRapid service, which uses XRP. Fleetcor-owned Cambridge Global Payments, a Canadian financial consultancy, will play a role in the partnership. Cambridge currently processes over $20 billion in commercial cross-border payments annually. […]
