Month: February 2018

The Thai central bank has prohibited financial institutions in the country from five key cryptocurrency activities, including banning customers from buying cryptocurrencies with credit cards. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Banks Banned From 5 Crypto Activities The Bank of Thailand (BOT) issued a circular on Monday asking “financial institutions not to get involved in cryptocurrency transactions for fear of possible problems from the unregulated trading,” Reuters translated. Mr. Wisit Santiprabop, the central bank’s governor, signed the circular which outlines five key cryptocurrency activities banks…

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Unlike larger banks who are criticizing crypto, some smaller institutions in Switzerland, Germany and Liechtenstein are bucking the trend. They are are instead offering their clients opportunities to be a part of the digital currency revolution. Big banks are losing out Whether it be as a method to control the financial freedom that cryptocurrencies offer, or as a genuine way to introduce virtual currencies to the masses, regulation is on the increase. While some major banks are declining crypto-related transactions, smaller institutions are of the opposite view. According to the…

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The Federal Bureau of Investigation (FBI) has claimed that Sergey Sergeyvich Medvedev, a Russian national recently arrested in Bangkok, was the co-founder and second in command of the Infraud group – a notorious international cyber crime syndicate. It has been reported that at the time of his arrest, Mr. Medvedev was in possession of more than 100,000 bitcoins. Also Read: Japan Cracks Down on Foreign ICO Agency Operating Without License Accused Cyber Crime Syndicate Co-Founder Arrested in Thailand Sergey Medvedev arrested by Thai police Sergey Sergeyvich Medvedev is accused of being the…

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Another outside observer of the controversial tether cryptocurrency is warning about the dangers it presents for the uninterrupted operation of USDT exchanges. Weiss Ratings is seeking to educate investors on the systematic risk tether introduces to the ecosystem. Also Read: Faced With Criticism IOTA Fans Try to Bully Growing List of Detractors Inherent Risks of Blind Trust Weiss Ratings, an independent U.S. agency which recently published letter grades for cryptocurrencies, has issued an alert to investors about the dangers of tether (USDT). It highlights common fears about the stablecoin which is…

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Even though Thailand has not banned the use of cryptocurrencies in the country, its central bank has announced that financial institutions will no longer offer crypto-related services. Banks Barred From Bitcoin As per a request from the Bank of Thailand, the country’s financial institutions will no longer be allowed to invest in or sell digital currencies, develop trading platforms, or grant loans to clients hoping to purchase crypto. In addition, these institutions cannot offer any advisory support to clients hoping to invest in virtual currencies. According to RT News, this…

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The largest free economic zone in the UAE, with zero percent personal and corporate income tax, has started issuing licenses to firms trading cryptocurrencies. The first license has been issued to a gold trader that has recently started offering cryptocurrency services. Also read: Japan Cracks Down on Foreign ICO Agency Operating Without License Attracting Crypto Businesses The Dubai Multi Commodities Centre (DMCC) is a government entity established in 2002 to enhance commodity trade flows through Dubai. DMCC Free Zone is the largest and fastest growing free economic zone in the UAE.…

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