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Regulation
Iranian state electric company Tavanir has warned judicial officials about Chinese cryptocurrency miners coming to Iran, an influx that could worsen the country’s power outage problems, according to local media reports. Fast facts Tavanir CEO Mohammad Hussein Motevallizadeh said in a letter published by local news website Eghtesadnews that the Chinese government’s crackdown on crypto […]
Timmy Shen
Regulation
Bitmain's move comes amid China’s crypto mining crackdowns and AntPool's shrinking hashrate. Is Bitmain gussying up for an IPO?
Kelly Le
Regulation
South Korea’s Financial Services Commission revealed today that it had discovered 14 bank accounts used by virtual asset exchanges that had been registered in names that were not those of the exchanges themselves. Fast facts It is not legal for crypto exchange bank accounts held under other names to accept customers’ funds on behalf of […]
Danny Park
Regulation
The Korea Fair Trade Commission has advised eight cryptocurrency exchanges to changes terms and conditions in their user agreements that it deems unfair to customers. Fast facts The commission discovered 15 types of terms and conditions that it said were unfavorable to customers. One condition stipulated that balances of less than a minimum withdrawal amount […]
Danny Park
Regulation
Binance also tightens withdrawal limits and unveils new tax reporting tool, to counter recent flurry of government investigations and bad publicity.
Michelle Lim
Regulation
South Korea’s newly amended tax law will allow authorities to collect delinquent taxes hidden in cryptocurrency cold wallets. Fast facts The Ministry of Economy and Finance yesterday announced the 2021 Tax Law Amendment, which grants authorities the power to seize delinquent taxes transferred to crypto holdings. The seized crypto will be sold on exchanges and […]
Danny Park
Regulation
Closure of blockchain business may be related to regulatory concerns, but unlikely to hit crypto industry hard, observers say.
Timmy Shen
Regulation
Following El Salvador’s making Bitcoin legal tender and ongoing speculation of further crypto adoption in Latin America, the International Monetary Fund has issued a thinly veiled warning to any country looking to follow suit. Fast facts While acknowledging the appeal to countries adopting cryptocurrencies as legal tender — especially for those with less stable economies […]
Lachlan Keller
Regulation
World’s largest stablecoin dismisses report suggesting possibility of U.S. investigation, despite claims of recent Justice Department interest and track record of legal woes.
Lachlan Keller
Regulation
Three blockchain and crypto-related companies have donated hundreds of millions of yuan to China’s Henan Province, which has suffered deadly floods since last week. Fast facts Bitmain, a crypto mining firm was the first to announce a donation of 10 million yuan (US$1.54 million) on July 23 to a charity federation in Zhengzhou, the provincial […]
Kelly Le
