Coindesk.com ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖ South Korea's financial watchdog has set a deadline for the ban on anonymous cryptocurrency trading accounts within the country.According to a new announcement from the Financial Services Commission (FSC), starting from Jan. 30, cryptocurrency investors in South Korea will have to use real-name bank accounts in order to continue trading. Once the rule comes into effect, investors can only deposit funds to trade cryptocurrencies if their name on the crypto exchange matches that on their bank account. The move comes as part of the financial regulator's push through a strengthened "know-your-customer" (KYC) compliance to curb cryptocurrency speculation. The FSC said in the release that the new rule is resulted from an inspection of domestic anonymous crypto trading accounts – assisted by six domestic banks, as well as the Financial Intelligence Unit – from Jan. 8–16. In addition, the official announcement also established an anti-money laundering guideline for cryptocurrency exchanges, which outlines situations where exchanges should stay alert to potential illegal activity. The statement said: "Specifically, for users to make virtual currency transactions more than 10 million won per day or more than 20 million won for 7 days when depositing and withdrawing funds, this is the type of financial transaction you suspect for money laundering." The new rule also appears to have a wider affect on foreign nationals who had been using cryptocurrency exchanges in South Korea through a virtual bank account. As the FSC's announcement pointed out, minors and non-citizens will be restricted from the new name verification service. So far, three major cryptocurrency exchanges in South Korea have said they are in line with the new mandate. #bitcoin #bitcoins #blockchain #блокчейн #Биткойн #криптавалюта #ФинТех  #bitcoinasia #bitcoinnews #bitcointechnology #bitcointraiding #bitcoinguru #bitcoinprice #bitcoinbillionare #bitcoinmining #bitcoinexchange #altcoin #ethereum #money #cash #fintech #crypto #cryptoworld #cryptocurrency #cryptocurrencies #SouthKorea #kryptowährung #kryptowährungen #btc #xrp
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#France Cracks Down on Unregulated #Cryptocurrency Futures #Trading France’s chief #financial #markets watchdog said Thursday that it will crack down on unregulated cryptocurrency futures and derivatives #trading. In a statement, the Autorite des Marches Financiers (AMF) said that it had observed a variety of online trading platforms launch cryptocurrency-based derivatives such as binary options, contracts for differences (CFDs), and Forex contracts. The agency, which attributed this development to the “recent cryptocurrency boom,” said that it had concluded that cash-settled cryptocurrency contracts qualified as derivatives, making them subject to AMF oversight. “The AMF concludes that a cash-settled cryptocurrency contract may qualify as a derivative, irrespective of the legal qualification of a cryptocurrency,” the agency said in the statement. “As a result, online platforms which offer cryptocurrency derivatives fall within the scope of MiFID 2 and must therefore comply with the authorisation, conduct of business rules, and the EMIR trade reporting obligation to a trade repository.” The AMF added that, as regulated products, platforms were barred from advertising certain financial contracts. Bloomberg reports that at least two French trading platforms — Plus500 Ltd. and IG Group Holdings Plc. — had reported strong growth in their quarterly earnings reports, which they attributed in part to their cryptocurrency futures and derivatives products. In the US, regulated exchanges CBOE and CME began listing Bitcoin futures contracts last December, while cryptocurrency derivatives exchange LedgerX began processing orders several months earlier. Most of these products have targeted institutional investors, although CBOE’s contracts have been cheap enough — each contract represents 1 BTC compared to CME’s 5 BTC contracts — to attract interest from retail investors as well. Bloomberg notes that the AMF’s increased interest in unregulated cryptocurrency futures and derivatives trading comes amid a wider European Union (EU) crackdown on retail-focused derivatives products. #bitcoins #bitcoinnews #bitcoininfo #coins #btc
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##blockchain en la industria de taxis: tecnología para la gente común La descentralización que proviene del uso de Blockchain puede liberar a los pasajeros y taxistas del control de las instituciones centralizadas, aumentar la eficiencia. · #bitcoin #btc #blockchain #bitcoinespaña #technology #future #crypto #ethereum #eth #economia #tecnologia #dinero #futuro #bitcoinnews #bitcoinmining #bitcoinprecio #bitcoiner #bitcoincoiners #bitcoinoficial #ethereumprecio #mineria #bitcoinnoticias #noticiasdebitcoin #noticiasbitcoin #bitcoins #btceth
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What are we looking at? $ 15,000? $ 20,000? $ 100,000? $ 1,000,000? And when? And within when? What do you say?
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Criticism aimed at authorities and the new legislation on “digital financial assets” is mounting in Russia. Local officials have rebuked lawmakers in the capital over slow progress, warning that the country will have to catch up with others. Experts from the crypto sector have expressed concerns about many unresolved issues in the proposed legal framework. Russian deputies are preparing to introduce two drafts on cryptocurrencies and crowdfunding, while more than 50 other digital economy bills are pending in parliament. Full article on news.bitcoin.com #bitcoin #bitcoinnews #btc #cryptocurrency #crypto #cryptos #digitalcurrency #fintech #money #finance #bitcoins #bch #blockchain #market #investing #today #trading #news #bitcoincash #russia
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The vastly different opinions on Bitcoin and other cryptocurrencies often lead to some interesting discussions. Most financial experts do not take kindly to this new form of money, though. Elliott Management, a well-known multi-billion dollar hedge fund, claims cryptocurrencies are a “brilliant scam”. Read more on @ themerkle.com #bitcoin #btc #bitcoinnews #cryptocurrency #crypto #themerkle
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#France Cracks Down on Unregulated #Cryptocurrency Futures #Trading France’s chief #financial #markets watchdog said Thursday that it will crack down on unregulated cryptocurrency futures and derivatives #trading. In a statement, the Autorite des Marches Financiers (AMF) said that it had observed a variety of online trading platforms launch cryptocurrency-based derivatives such as binary options, contracts for differences (CFDs), and Forex contracts. The agency, which attributed this development to the “recent cryptocurrency boom,” said that it had concluded that cash-settled cryptocurrency contracts qualified as derivatives, making them subject to AMF oversight. “The AMF concludes that a cash-settled cryptocurrency contract may qualify as a derivative, irrespective of the legal qualification of a cryptocurrency,” the agency said in the statement. “As a result, online platforms which offer cryptocurrency derivatives fall within the scope of MiFID 2 and must therefore comply with the authorisation, conduct of business rules, and the EMIR trade reporting obligation to a trade repository.” The AMF added that, as regulated products, platforms were barred from advertising certain financial contracts. Bloomberg reports that at least two French trading platforms — Plus500 Ltd. and IG Group Holdings Plc. — had reported strong growth in their quarterly earnings reports, which they attributed in part to their cryptocurrency futures and derivatives products. In the US, regulated exchanges CBOE and CME began listing Bitcoin futures contracts last December, while cryptocurrency derivatives exchange LedgerX began processing orders several months earlier. Most of these products have targeted institutional investors, although CBOE’s contracts have been cheap enough — each contract represents 1 BTC compared to CME’s 5 BTC contracts — to attract interest from retail investors as well. Bloomberg notes that the AMF’s increased interest in unregulated cryptocurrency futures and derivatives trading comes amid a wider European Union (EU) crackdown on retail-focused derivatives products. #bitcoins #bitcoinnews #bitcoininfo #coins #btc
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