Category Archives: ccn.com

Cryptocurrency Should be ‘Outlawed’: Allianz CEO Andreas Utermann

Advertisement Despite this year’s prolonged cryptocurrency market decline, many mainstream financial institutions and wealth managers have continued to explore how to make this nascent asset class more accessible to their clients. Firms such as Goldman Sachs and Fidelity are building crypto custody products, while exchange giants Intercontinental Exchange (ICE) and Nasdaq are focusing on futures trading. Don’t expect… Read More »

FATF: UK Crypto Exchanges Pose ‘Low’ Money Laundering, Terrorist Financing Risk

Advertisement The Financial Action Task Force (FATF) revealed that crypto exchanges operating in the United Kingdom pose low money laundering (ML) and terrorist financing (TF) risks. The global standard setter for ML/TF published a report to evaluate the overall efforts that the UK has put in combating the money-related illegal activities. As the study touched on various topics,… Read More »

Denmark’s Tax Agency Targets 2,700 Nationals for Hiding Bitcoin Trades

Advertisement Skattestyrelsen (SKAT), the Danish tax agency, has accelerated crackdown against a large number of nationals who secretly traded bitcoin on a Finnish crypto exchange. According to information shared by the Swedish Tax Agency, a total of 2,700 Danes purchased circa $5.80 million worth of bitcoins from the exchange but sold them back for $6.1 million in local currency.… Read More »

UAE and Saudi Arabian Central Banks to Jointly Launch a Cross-Border Cryptocurrency

Advertisement It’s confirmed. The United Arab Emirates (UAE) and Saudi Arabia will work on cross-border digital currency. The exact date when it would be issued is still unknown but we know one thing, the digital currency is not targeted at consumers. It’s strictly for banks. Arabian news outlet Gulf News reports that the central bank of the UAE,… Read More »

Newsflash: Japanese Prosecutors Want Former Mt Gox CEO Jailed for 10 Years

Advertisement The former CEO of the now-defunct bitcoin exchange Mt Gox, Mark Karpeles, could face up to decade in prison if prosecutors have their way. According to the Nikkei Asian Review, prosecutors are seeking a 10-year jail term for Mark Karpeles for embezzlement. Among the claims made by prosecutors at the Tokyo District Court include the fact that… Read More »

Samsung Files for Cryptocurrency Trademarks in the EU For Smartphones

Advertisement Electronics giant Samsung has filed applications for three blockchain-related trademark requests for smartphones. Based on the descriptions provided by the company, the three European trademark requests relate to providing crypto custody services on smartphones, which indicates that Samsung may be planning to make its entry into the ‘blockchain smartphone’ market following the recent release of HTC’s Exodus 1… Read More »

Crypto Market Drops Again: Does Bitcoin Price Risk Fall to $2,500?

Advertisement Throughout the past three days, the Bitcoin price has demonstrated wild volatility in the range between $3,200 to $3,600. The dominant cryptocurrency has struggled to break out of the $3,700 resistance level which several technical analysts have consistently mentioned over the last two weeks. On December 12, the price of Bitcoin (BTC) fell by around three percent… Read More »

Ethereum Futures Inbound? CFTC Asks for Public Comment on ETH Network

Advertisement The Commodity Futures Trading Commission (CFTC) has put out a Request for Information (RFI) asking for public comment and feedback to enable it better understand Ether and the Ethereum blockchain as it seeks to expand its cryptocurrency knowledge base beyond bitcoin. In a press release dated December 11, the regulator stated that it is seeking the feedback… Read More »

South Korean Crypto Exchange Launches Ripple-Based Blockchain Remittance Service

Advertisement Coinone subsidiary Coinone Transfer has introduced Cross, South Korea’s first blockchain-based remittance app and web service, using enterprise blockchain technology created by Ripple. Cross gives people in Thailand and the Philippines access to faster and cheaper payment services. Coinone Transfer utilized RippleNet and connections with the Siam Commercial Bank (Thailand) and Cebuana Lhuillier (Philippines) to release the… Read More »

Upbit CEO: Crypto Regulation is Necessary, But is Korea on Right Track?

Advertisement On December 10, Lee Seok-wu, the CEO of Dunamu, the parent company of South Korea’s largest crypto exchange Upbit, said that regulation is important to establish industry standards. During a meeting with several members of the Congress and the Financial Services Commission (FSC) hosted by Upbit, Bithumb, Gopax, Korbit, and Coinone, five of the biggest digital asset… Read More »