South Korea to ramp up oversight of cross-border crypto transactions: Report
South Korea’s finance minister, Choi Sang-Mok, says the country will introduce reporting mandates on cross-border crypto transactions to combat foreign exchange crime.
Related Posts
Tech stocks plummet as Intel nosedives, Nvidia faces antitrust probe
It’s layoff season again as Big Tech and the semiconductor industry fail to meet investor expectations.
FTT investors’ claims to be investigated for securities laws violations
To help the investors legally recoup losses, Schall Law Firm plans to investigate FTX for issuing misleading statements or failing to disclose crucial information. 381 Total views 2 Total shares Own this piece of crypto history Collect this article as NFTTo help out the recently duped investors of FTX Tokens (FTT), shareholder rights litigation firm…
Grayscale Investments now controls 2.4% of the current BTC supply
The investment firm purchased 17,100 BTC in the last week. Crypto fund manager Grayscale Investments has increased the assets under management in its Bitcoin Trust by more than $180 million over the past week.According to data from information platform Bybt, Grayscale added 17,100 Bitcoin (BTC) to the firm’s Bitcoin Trust in the last seven days.…
Exchange CEO Forecasts Crypto Market Uptick in Coming Weeks
As the world sits in flux between coronavirus and financial market concerns, AAX crypto exchange CEO, Thor Chan, thinks cryptocurrencies will ultimately make out ok.“During a period of intense panic, many investors fled the markets in search of cash, or to defend their positions elsewhere,” Chan told The Merkle in a March 30 interview, referencing…
Paying the Price: WeChat Merchants Banned From Crypto Payments
On May 7, Dovey Wan, founding partner of crypto investment firm Primitive Ventures tweeted that the Chinese social media behemoth and payment service provider WeChat is set to ban merchants from making cryptocurrency payments. This ban marks the latest effort to stymie cryptocurrency usage in China, with the government also mulling over ways of greatly…
IRS to summon users who don’t report and pay tax on crypto transactions
The summons requires M.Y. Safra Bank to submit information about taxpayers who failed to report and pay their taxes on crypto. 534 Total views 31 Total shares With the crypto community growing bigger and as trading volumes reach new highs, the United States is also making more effort to ensure that its Internal Revenue Service…
Why Banks Keep Blocking Cryptocurrency-Related Transactions
The COVID-19 crisis has brought many new users to the world of cryptocurrencies. One of the main concerns for users, however, is whether their bank cards may be blocked due to the purchase of a cryptocurrency, or when withdrawing funds from a crypto account. Can this risk be prevented?Since the COVID-19 outbreak and people’s subsequent…
Revolut Confirms Firing 62 Employees in the Wake of Coronavirus
London-based tech startup Revolut confirmed its employee downsizing numbers. 670 Total views 28 Total shares Revolut fired a number of employees since the coronavirus outbreak began, according to a story from Wired. The European fintech company responded with a statement on the numbers and rationale.“As in many companies, COVID-19 necessitated cost cutting across our business…