Latest posts of: PX-Z

South Korea is Officially Recognizing Crypto Exchanges as Regulated Banks

For the first time in history, the government of South Korea has officially recognized crypto exchanges regulated financial institutions and banks.

Local publications in South Korea have reported that the financial authorities of South Korea have finalized their plans to categorize crypto exchanges as an industry called “Cryptocurrency Exchange and Brokerage” to enable trading platforms to perform at a large capacity with support from local authorities.

From Communication Vendors to Financial Institutions

For many years, the government of South Korea has considered regulating the cryptocurrency sector with practical regulations and policies, primarily to prevent large-scale hacking attacks and security breaches from occurring, as seen in the case of Bithumb and Coinrail in early 2018.

However, local financial authorities feared that the regulating the cryptocurrency market would lead the public to believe that the government has legitimated the cryptocurrency sector. Consequently, South Korea postponed the regulation of cryptocurrency exchanges.

This week, local publications revealed that the government of South Korea has come to a consensus to recognize crypto exchanges as regulated financial businesses, creating a new industry dedicated to cryptocurrency trading platforms.

In the short-term, the newly created regulatory framework for cryptocurrency exchanges may have a negative impact on both the trading platforms and investors, because it would mean stricter Know Your Customer (KYC), Anti-Money Laundering (AML), and customer verification policies.

MORE INFO HERE: https://www.ccn.com/breaking-south-korea-is-officially-recognizing-crypto-exchanges-as-regulated-banks/

Indian Crypto Regulations Ready in July, Official Reveals

If you thought crypto in India was over, you were probably wrong. According to a recent statement by a high-ranking official, the long-awaited regulations are on the way. A draft framework has been prepared, and authorities in Delhi hope to “wrap this up” as early as the first half of next month. Meanwhile, the Supreme Court has agreed to review a petition against the RBI ban earlier than expected, resetting the hearing for July 3.

Committee Decides the Fate of Bitcoin in India

The new Indian regulatory framework for cryptocurrencies is likely to be presented in the first half of July, according to a recent statement by Subhash Chandra Garg, Secretary of the Department of Economic Affairs at the Ministry of Finance.

A draft has been put together and will be discussed in the first week of next month, the official said in an interview with the news channel ET Now. Garg, who is heading the committee tasked to determine the future of Bitcoin in India, explained:

We are fairly close to developing a kind of template which we think might be in the best interest of our country. We have prepared a draft which we intend to discuss with the committee members in the first week of July.

The Finance Ministry representative also noted that the committee has made a lot of progress in regards to determining “what part of business should be banned, what should be preserved, and what not.” In his words, the lower detail work has already happened. “We should be in the position to wrap this up in the first fortnight of July,” he elaborated.

MORE INFO HERE: https://news.bitcoin.com/indian-crypto-regulations-ready-in-july-official-reveals/

Retail Adoption of Crypto Would “Bring the Internet to a Halt” – BIS Report

The Bank of International Settlements (BIS) has leased a chapter from its forthcoming annual report that delivers a critical appraisal of bitcoin and cryptocurrency. The report attacks virtual currencies from several main standpoints: claiming that cryptocurrencies do not effectively perform monetary functions due to price volatility, that the retail adoption of blockchain-based payment mechanisms would “bring the internet to a halt,” mass cryptocurrency adoption would reap a drastic environmental toll, and that the trust engendered by a decentralized network is too “fragile” to compete with that of centralized institutions.

BIS Annual Report Provides Critical Appraisal of Crypto

Retail Adoption of Crypto Would "Bring the Internet to a "Halt" - BIS ReportThe chapter addressing cryptocurrencies in BIS’ upcoming report opens by stating that “Less than 10 years after their inception, cryptocurrencies have emerged from obscurity to attract intense interest on the part of businesses and consumers, as well as central banks and other authorities. They garner attention because they promise to replace trust in long-standing institutions, such as commercial and central banks, with trust in a new, fully decentralized system founded on the blockchain and related distributed ledger technology (DLT).”

Despite acknowledging that “Cryptocurrencies such as bitcoin promise to deliver not only a convenient payment means based on digital technology, but also a novel mode of trust,” the BIS report seeks to highlight a number of “economic limitations” arising from “permissionless cryptocurrencies.”

MORE INFO HERE: https://news.bitcoin.com/retail-adoption-crypto-would-bring-internet-halt-bis-report/

Thailand Expects to Approve Five ICO Projects out of 50

The Thai financial regulator is expected to approve five ICO projects once the new regulatory framework takes effect this month. Out of 50 ICO projects in the country, only five satisfy the registration requirements set out by the regulator this week.

Five ICO Projects Expected to be Approved

Thailand Expects to Approve Five ICO Projects Out of 50The Thai Securities and Exchange Commission (SEC) is expected to approve five initial coin offering (ICO) projects once the law to regulate cryptocurrencies and ICOs goes into effect, according to the Bangkok Post. The Commission approved the relevant regulations earlier this week and expects them to become law by the end of the month, as news.Bitcoin.com previously reported.

While the SEC has not revealed which ICO projects will be approved, Mr. Thawatchai Kiatkwankul, the Commission’s director of corporate finance in the equity department, was quoted by the news outlet:

Out of 50 ICO projects expecting to raise funds from the Thai capital market, five are ready as initial pilot projects.
The announcement follows two recently launched ICOs in Thailand: Jfin Coin by Jay Mart Plc’s subsidiary, J Ventures Limited, and ZMN tokens by Zmine Holdings.

MORE INFO HERE: https://news.bitcoin.com/thailand-approves-ico/

I Want Bitcoin to Be the World’s Single Currency: Apple Co-Founder Steve Wozniak

Apple co-founder Steve Wozniak isn’t convinced that bitcoin will supplant national currencies to become a de facto global currency, but he says that he hopes this will one day be the case.

Speaking on the sidelines of Money20/20 Europe, Wozniak told CNBC that he is attracted to the “purity” of the idea that people around the world could one day share a single currency, despite being separated by national borders.

He said:

“I buy into what Jack Dorsey says, not that I necessarily believe it’s going to happen, but because I want it to be that way, that is so pure thinking.”

As CCN reported, Dorsey, who is CEO of both social media giant Twitter and digital payment processor Square, said recently that he believes bitcoin will be the world’s only currency — perhaps within a single decade.

The “Woz” has long been a fan of bitcoin, a fact that has not changed since he decided to sell off most of his holdings after finding that he spent too much time watching price movements.

MORE INFO HERE: https://www.ccn.com/i-want-bitcoin-to-be-the-worlds-single-currency-apple-co-founder-steve-wozniak/

OECD Warns Crypto and Blockchain are Challenging Tax Transparency

The Organization for Economic Cooperation and Development (OECD) has issued a report to the G20 finance ministers and central bank governors. The report examines the accomplishments and aims of the OECD in advancing its efforts to “redefine the international landscape,” identifying new technologies cryptocurrencies and distributed ledger technology as posing unique challenges to “tax transparency.”

OECD Discusses International Tax Agenda

The report asserts that the OECD, with assistance from the G20, has made “enormous strides” in implementing the OECD’s international “tax agenda.” The organization claims that its policies have resulted in a transition of the “global financial system” from “opacity and incongruity to transparency and coherence.”

Among the primary policy objectives sought by the institutions has been greater “tax transparency,” with the report stating that “tax transparency has been at the heart of the OECD’s role in the international tax area.

Despite boasting of numerous accomplishments with regards to fostering greater taxation transparency, the report identifies the increasing “digitalization of the economy” as giving rise to a number of significant challenges to the the OECD’s international policy objectives.

READ MORE here: https://news.bitcoin.com/oecd-warns-crypto-and-blockchain-challenging-tax-transparency/

Report: Twitter Prepares Ban on Crypto Ads

Twitter is reportedly preparing to prohibit advertisements for ICOs, token sales, and cryptocurrency wallets. The new advertising policy is expected to come into effect in a couple weeks. The microblogging site is said to impose a ban on ads for crypto exchanges, as well, bar a few exceptions. The policy change is yet to be confirmed officially.

Some Trading Platforms May be Excluded from the Ban

Following similar moves by Facebook and Google, Twitter is now preparing to ban crypto-related advertisements on its platform. The new advertising policy will be implemented in two weeks, Sky News reported without revealing the source of its information.

Report: Twitter Prepares Ban on Crypto AdsThe upcoming rules will likely prohibit advertisements for initial coin offerings (ICOs), token sales, and cryptocurrency wallets globally, according to the report. The reasoning behind Twitter’s decision is unclear. Other companies imposing restrictions on crypto content have cited concerns over illicit activities and fraudulent ads.

The ban may also include advertisements for cryptocurrency exchanges. The report suggests, however, that the new policy will be launched with some “limited exceptions” in regards to trading platforms. There has been no official confirmation of the policy change yet.

READ MORE here: https://news.bitcoin.com/report-twitter-prepares-ban-on-crypto-ads/

India Can’t Regulate Bitcoin Says Official

Indian authorities have been struggling to grasp the crypto phenomenon for quite some time now – years, to be more precise. The inability to fully understand it and put it under control has resulted in a state of semi-denial: “it’s illegal”, officials repeat tirelessly, but also keep trying to tax it. It doesn’t help when someone previously charged with proposing regulations, now says – India just can’t regulate bitcoin.

India Undecided
The institutional antipathy towards cryptocurrencies is no secret in India. Multiple warnings have been issued against their use, many officials have declared that they are illegal. The fact of the matter is cryptos, like bitcoin, are neither banned, nor regulated in the country.

READ MORE: https://news.bitcoin.com/india-cant-regulate-bitcoin-says-official/

BitCar Model Allows Users the Ability to Trade Their Way to Full Car Ownership

BitCar Model allows to trade to full car ownership
Blockchain company BitCar.io has announced a gear change in its business model, giving BITCAR token holders the chance to trade their way to full ownership of the platform’s top-end exotic vehicles.

READ MORE: https://coinidol.com/bitcar-model-allows-users-to-trade-to-full-car-ownership/

Apple Co-Founder Steve Wozniak’s Bitcoin Stolen

Last year, Apple’s co-founder Steve Wozniak (Woz) revealed he’d purchased bitcoin, likening it to being better than gold. And then, months later, Woz announced he’d sold it all. In the process of selling off his gains, it turns out he was defrauded out of a substantial sum.

Steve Wozniak Defrauded Out of Bitcoin

One of the men behind the world’s most profitable company, Apple, co-founder Steve Wozniak explained to India’s The Economic Times he was defrauded out of a sizeable amount of bitcoin. Woz famously touted the decentralized currency’s merits, and then abruptly announced he’d liquidated. This is not the first time Woz has had a rocky beginning with a history-changing technology.

The career of cherubic every-man-nerd-king Woz, the engineering pioneer to Steve Jobs’ poet, more or less begins with fraud. It’s a sadly hilarious tale, one where Mr. Jobs, who befriended Woz due to his technical genius, evidently promised to split 50-50 an offer made by then leading video game company, Atari.

READ MORE: https://news.bitcoin.com/apple-co-founder-steve-wozniaks-bitcoin-stolen/

Lenovo has applied for a patent with the U.S. Patent & Trademark Office for an electronic device to ensure the integrity of a signed physical document using blockchain technology, according to a recent filing. The device identifies an integrity symbol within a physical document and converts it to a map that allows the device to verify the document’s integrity.

READ MORE: https://www.ccn.com/lenovo-seeks-patent-for-device-to-ensure-integrity-of-signed-documents/

Digital currency ripple soars more than 30%, briefly becomes second-largest cryptocurrency by market cap

Ripple surged more than 30 percent Friday to an all-time high, briefly surpassing ethereum as the second-largest cryptocurrency by market capitalization.

Officially called XRP, ripple climbed nearly 33 percent to a record high of $1.90 and traded near $1.81 Friday morning, according to CoinMarketCap. The digital currency briefly had a market cap of more than $71.8 billion, a few hundred million greater than ethereum at the time. The two cryptocurrencies vied for the second-place spot as prices fluctuated in morning trading.

Bitcoin remains the largest digital currency by far. It has a market capitalization of roughly $241 billion, accounting for about 41.5 percent of the total cryptocurrency market cap tracked by CoinMarketCap. Ripple accounted for about 12.4 percent, while ethereum was around 12.3 percent, the website showed.

Source: https://www.cnbc.com/amp/2017/12/29/ripple-soars-becomes-second-biggest-cryptocurrency-by-market-cap.html

According to reports from a few news outlets, social media platforms and online forums a new bitcoin mining rig called the “Dragonmint” is joining the bitcoin mining environment in 2018. The machine’s creators claim the device is 30 percent more efficient than current ASIC models on the market.

A New Mining Company and ASIC Device Planned for 2018 Claims to be 30% More Efficient Than Current Market Competitors

In 2017 there’s been a lot of talk about new mining technology and powerful chips below the 16nm standard, but really no show. The 16nm semiconductor fabrication utilized within the Bitmain Antminer S9 and the Avalon Miner 741, are still currently two of the best performing machines on the market. The Japanese company GMO Internet plans to produce 7nm semiconductor chips for bitcoin mining soon.

Now the Dragonmint 16T miner produced by the firm Halong Mining is calling itself “the world’s most efficient Bitcoin miner,” even though it has yet to be sold on the open market. According to a report written by the journalist, Aaron van Wirdum, the Dragonmint miner boasts “newly designed chips” and is “30 percent more energy efficient” than the Antminer S9. The Dragonmint development team claims the model’s hash power produces around 16 THS.

Source: https://news.bitcoin.com/the-curious-case-of-the-new-dragonmint-bitcoin-miner/

Upon reading on the discussion of some bitcointalk account being accused of alt accounts, here https://bitcointalk.org/index.php?topic=1702409.msg22086320#msg22086320

It's obvious that different users have the same ETH address that is obviously a strong evidence from having alt accounts but in this case they have the same ETH address but because they made the eth wallet address from this site coin-wallet.info

Like this eth address

0xd0457d7d5c5d81e2323723b1fddc2e4ff4480dbf^[1]eth

Some user made an account their and they get this address [1] and another user made for test and got this eth address also [2]
_{See the address on the image}

And if you will look the comment section on the etherscan of the address you will see some people got tricked with this address too

Link: https://etherscan.io/address/0xd0457d7d5c5d81e2323723b1fddc2e4ff4480dbf#comments

Conclusion: This wallet was made to steal funds from those people who made eth address on this site. The admin has the full control of the wallet you can see that address have too many tokens received but because you can't get the private keys and don't have full control of them using then it's useless because you can't send those tokens to other eth address.

Tho this thread don't have the full details for scam accusation report but it has strong evidences that this wallet is scam. So don't use this wallet to create ETH add, use myetherwallet.com instead