Bitcoin

Bitcoin Exchanges Don’t Need Money Transmitter Licenses in Pennsylvania

The Pennsylvania Department of Banking and Securities (DoBS) says cryptocurrency exchanges in the state do not require Money Transmission Business Licenses. MTA Not Applicable to Bitcoin in Pennsylvania In a memo titled “Money Transmitter Act Guidance for Virtual Currency Businesses,” the Pennsylvania DoBS clarified that the Money Transmitter Act (MTA) did not apply to cryptocurrency exchanges. […]

Bitcoin

Denmark Investigating Bitcoin Exchanges to Find Tax Defaulters is Troubling

Denmark’s tax agency has received the council’s permission to scrutinize three local crypto exchanges. Skat in its Monday press release confirmed that it would obtain information on traders who were investing in cryptocurrencies such as Bitcoin between 2016 and 2018. The announcement came as a part of an ongoing investigation against crypto-based tax defaulters. Seeking […]

Crypto News

Hacked Customer Data From World Leading Cryptocurrency Exchanges For Sale On The Dark Web?

Hacked KYC documents from top cryptocurrency exchanges are available on the Darknet. Image from Shutterstock. On a darknet market called “Dread,” a vendor going by “ExploitDOT” is attempting to sell user data from the know-your-customer (KYC) data top cryptocurrency exchanges ask for, required by most jurisdictions. According to data shared with CCN, the hacker has […]

Crypto News

BitGo & Genesis Trading Want to Help Whales Avoid Crypto Exchanges

BitGo and Genesis Global Trading have formed a partnership to help whales avoid crypto exchanges. | Source: Shutterstock Blockchain security firm BitGo has entered a partnership that will allow its clients to trade cryptocurrency assets that are held in its custody. The partnership with over-the-counter exchange Genesis Global Trading will allow BitGo clients to trade […]

Crypto News

Bulgaria Investigates Crypto Exchanges For Taxes, Asks 10% on Profits

Bulgaria. Shutterstock. The government of Bulgaria has started to investigate crypto exchanges to demand taxes from the profits investors generated from trading digital assets. The National Revenue Agency (NRA) has categorized cryptocurrencies as financial assets, which incur a 10 percent tax on profit that individuals have to disclose annually. Two Major Issues of Bulgaria’s Crackdown […]

Crypto News

TrustToken Develops Cheaper Method of Managing Client Ethereum Addresses for Crypto Exchanges

TrustToken, the developer and issuer of TrueUSD, has come out with a novel method for crypto exchanges to manage millions of addresses associated with TrueUSD and other ERC20 tokens. TrustToken has developed the first publicly available means of easily handling thousands or millions of addresses within a single wallet, thus reducing the amount of Gas […]

Blockchain

Japan and Korea Officially Approve Their Biggest Crypto Exchanges

South Korea’s Internet & Security Agency (KISA) has granted an important certification to the country’s leading cryptocurrency exchange Bithumb. Meanwhile, in Japan, Coincheck, the country’s largest exchange, is now registered with the Financial Services Agency.  Bithumb Granted ISMS Certification Cryptocurrency exchange Bithumb has managed to obtain Information Security Management System certification from the country’s KISA. According […]

Crypto News

Thailand’s Finance Ministry Grants Licenses to Three Crypto Exchanges

The Ministry of Finance in Thailand has granted working licenses to three crypto trading companies and denied permits for two businesses seeking to become regulated exchanges. The ministry has also issued a working permit to a cryptocurrency broker and dealer. “The four applicants granted a license are three digital asset exchanges – namely (1) Bitcoin Exchange […]

Ethereum

Decentralized Exchanges: 2019’s Key to a Dapp Comeback

David Lu is a partner at 256 Ventures where he focuses on partnering with early stage blockchain companies and a venture partner at Virgil Capital, a quantitative cryptocurrency hedge fund. Find David on Twitter. The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. Ethereum and EOS, the two major platforms on which decentralized applications (dapps) are […]

Crypto News

Kraken: Volume of US Govt. Subpoenas Huge ‘Barrier to Entry’ for Crypto Exchanges

Running a crypto-based financial service in the US is becoming difficult due to unconventional legal costs, cryptocurrency exchange Kraken indicated in its latest “transparency report.” Crypto Exchange Kraken Says Government Inquiries Tripled in 2018 The US-based crypto exchange, which additionally operates in Canada, Europe, and Japan, reportedly received 315 subpoenas from US law enforcement agencies, […]