PAINFUL: Two Cryptocurrency Exchanges Shut Down in 48 Hours!
In what could be termed as a major setback for the virtual currency industry, two cryptocurrency exchanges, namely Bitstake and Yacuna, have pulled down their shutters in the last two days. In its last press note, Yacuna said that whileBitcoin remained a wonderful technology and that they were proud to be one of the first European exchanges for cryptocurrency yet, they have to shut down their operations. Cryptocurrency exchange Yacuna will close their operations on November 15th, 2015 and has requested consumers to check on their account balance and withdraw any amount before November....
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South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges Could Be Shut Down South Korea’s top financial regulator, the Financial Services Commission (FSC), will reportedly shut down 11 cryptocurrency exchanges, The Korea Herald reported Monday, citing unnamed industry sources. The 11....
The chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), Eun Sung-soo, has warned that all of the cryptocurrency exchanges in the country could be shut down. South Korea currently has about 200 cryptocurrency exchanges, he said. All Crypto Exchanges Could Be Shut Down in South Korea At the general meeting of the National Assembly’s Political Affairs Committee last week, The Korea Times quoted Chairman Eun as saying: All of the nation’s 200 cryptocurrency exchanges could be shut down after September once a special financial law takes....
The deadline for cryptocurrency exchanges and wallet operators to comply with the new regulatory requirements to stay open in South Korea is this week. So far, only one crypto exchange has been licensed to continue operations. About 60 crypto exchanges are expected to either shut down or reduce services.
60 Crypto Exchanges Expected to Shut Down or Reduce Services
Under the “Act on the Reporting and Use of Specific Financial Transaction Information (Special Act),” crypto exchanges must be Information Security Management System (ISMS)-certified and register with the....
We've had independent cryptocurrency exchanges, "roll-your-own" cloud-based exchange services ... and now it looks as though we are heading towards complete decentralization. Welcome to the Skype of bitcoin exchanges. A new company is about to launch a service that it says will entirely decentralize alternative currency exchanges, making it practically impossible for regulators to shut them down. MetaLair -- based in Sussex in the UK -- will soon unveil an open-source software client that will serve as a cryptocurrency wallet and exchange client. While traditional exchanges need a back-end....
Sources claim that several mid-sized crypto exchanges in South Korea will be unable to get approval from the FSC. South Korea’s top financial regulator, the Financial Services Commission, is reportedly planning to shut down a dozen local cryptocurrency exchanges amid fraud allegations.The FSC will suspend operations of at least 11 mid-sized crypto exchanges in South Korea due to alleged illegal activities and fraudulent collective accounts, local news agency The Korea Herald reported Sunday. The publication cited anonymous industry sources claiming that the names of the exchanges were not....