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Report: South Africa Bars Transfer of Locally Acquired Cryptocurrencies to Overseas Exchanges, Offenders Face Jail Time
29.6.2021
Fresh reports from South Africa suggest that the transfer of locally acquired cryptocurrencies to overseas crypto exchanges will now be subject to the country’s exchange control regulations. Consequently, transactions where an individual purchases crypto assets in South Africa and uses them...
South African asset manager denies stealing billions from users, claims $5M was lost in hack
29.6.2021
AfriCrypt’s founders deny running off with billions in customers funds, asserting they went into hiding after receiving death threats from “dangerous people.”
South Korean Crypto Exchanges Ready for Legal Fight Amid Closure Threats
28.6.2021
Source: Adobe/david_franklin
South Korean crypto exchanges are preparing lawsuits to sue the government or challenge it in the constitutional court if they fail to meet a September regulatory deadline and are obliged to close.
New regulations for crypto exchanges, which have already passed into...
Crypto exchanges could sue Korean gov't for ‘passing the buck‘ to banks
28.6.2021
With many crypto exchanges in South Korea now on a precipice as a new regulatory framework kicks in, some are threatening to sue the government over its alleged shirking of key responsibilities
Korean Banks to Be Relieved of Liability for Crypto-Related Crime, Report Suggests
28.6.2021
Banking institutions in South Korea have reportedly requested to not be held accountable for crimes linked to cryptocurrencies such as money laundering. According to local media, financial regulators are now developing rules that could relieve Korean banks from responsibility when screening...
Crypto-keen South Korean Thieves Raid GPUs from ‘Love Hotel’ PCs
26.6.2021
Criminals have hatched a fiendish plan to help them build up their token portfolios – by stealing graphics cards from PCs in South Korean “love hotels,” motels that cater to couples craving physical intimacy.
Love hotels can be found all over South Korea and across the sea in Japan – and provide...
Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’
25.6.2021
Following Africrypt’s collapse, South African regulator, the Financial Sector Conduct Authority (FSCA), released a statement asserting its lack of jurisdiction over cryptocurrencies. Although the regulator says it is “continuing to investigate complaints” against the crypto...
Government, Police to Inspect all 60 of South Korea’s Crypto Exchanges
25.6.2021
The South Korean financial regulator is to radically step up its monitoring of the crypto industry – with an announcement that it is set to conduct inspections at all 60 of the nation’s crypto exchanges in conjunction with the police and independent IT inspectors.
After being accused of dragging...
South African ‘Exit Scam’ Sees Brothers Vanish with USD 3.6B in Bitcoin
24.6.2021
An apparent exit scam in South Africa could have left investors out of pocket to the tune of USD 3.6bn after the two brothers who operate the Africrypt project “vanished” following reports of a hushed-up “hack.”
Per Bloomberg, Hanekom Attorneys, a legal firm in Cape Town was hired by investors,...
Korean Government Confiscates $47 Million in Crypto From Tax Evaders
24.6.2021
South Korean authorities have identified thousands of tax evaders as part of an intensifying crackdown on tax dodging among crypto investors. Following a prolonged investigation, the government has reportedly seized cryptocurrency worth millions of dollars. Tax Agents Target Wealthy Tax Evaders...
$3.6B in Bitcoin vanishes in 'hack' along with owners of South African crypto platform
24.6.2021
Billions worth of Bitcoin has reportedly vanished along with the operators of South African crypto firm AfriCrypt. Is it a scam or a hack?
South Korea’s 2021 Budget to Revive Lost Pandemic Taxes
23.6.2021
Due to the novel COVID-19 pandemic, the nation faced a grave economic loss. As a result, South Korea was not able to meet the economic agenda of the year 2020. Due to this fiscal trial, the Finance Minister of South Korea has proposed a budgetary supplement resource for the second time in 2021....
South Africa Bank Blocks Clients From Buying Crypto on Binance, Exchange Rejects Allegations
23.6.2021
A South African bank, Absa, has reportedly blocked use of its credit cards for users buying cryptocurrencies on international exchanges, according to one media report. The claims come after clients of the financial institution reported receiving a text message informing them of the suspension...
Latest South Korean Tax Evasion Busts: Crypto Worth USD 47m Seized
23.6.2021
The South Korean crackdown on high-band taxpayers who have used crypto purchases to hide the scale of their earnings from the taxman has rolled on to the affluent Gyeonggi Province, catching some big fish – with crypto confiscated from rich doctors and TV stars.
Since gaining the powers they needed...
Nicolas Maduro States Venezuela Pioneered Crypto Adoption in South America as Petro Use Flounders
22.6.2021
President Nicolas Maduro stated that Venezuela was a pioneer in cryptocurrency adoption in Latam in an interview with Bloomberg last week. Venezuela is still one of the first cryptocurrency volume movers in South America. However, the petro token, its official cryptocurrency, has failed to pick...
South Korea Mulls Singapore-style Approach to Crypto Regulation
22.6.2021
Singapore. The South Korean financial regulator is looking to Singapore for inspiration as it forms new crypto sector policies, sparking anticipation that it may look to adopt a similar system.
Singapore is known for having one of the most progressive approaches to crypto regulation in the world...
$3.6 Billion Crypto Heist: South African Bank Denies Business Relationship With Fraud Accused Africrypt
19.6.2021
According to local media, leading South African financial institution FNB is denying allegations of a banking relationship with the recently collapsed crypto investment company, Africrypt. FNB also insists it did not enable the investment company’s transactions which helped Africrypt’s...
‘Confusion’ as Regulator Chimes in Amid South Korean Delisting Spree
19.6.2021
Crypto investors have been left “confused” after a spate of altcoin delistings on major South Korean exchanges has escalated to the point where the regulator has stepped in with yet more rules for under-fire trading platforms.
Already reeling from racing to adopt a long list of compliance measures...
Videogame Article
18.6.2021
Pithy opening that assumes my position as the imparter of information, but also implies my confidence that over a beer we could get on just fine. Declaration of the news story in one line, strongly suggesting—though absolutely not directly saying so—that I am first to break this story.Read more
Nestree Launches a Reward-Based Digital Commerce “Nestree Mall”
18.6.2021
PRESS RELEASE. A South Korean blockchain-based community messenger “Nestree” has announced that it is launching an innovative and cutting-edge reward-based digital commerce platform called “Nestree Mall’. Nestree Mall is part of the roadmap of the blockchain platform that...