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| June 22, 2018

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CNN

How bad is it in the countries these families are fleeing? This bad

June 20, 2018 |

We’ve been bombarded by arguments about whether parents and children crossing the US-Mexican border without documentation should be separated. But we seldom hear how dire life is in these migrants’ homelands.
CNN.com – RSS Channel – Regions – Americas

10 Countries With the Biggest Generation Gap on Religion

June 13, 2018 |

Is there a generation gap when it comes to religious belief? A new study by Pew Research Center surveyed religious beliefs in 106 countries over the last decade and found that in 46 of them, individuals between the ages of 18 and 39 were less religious than those 40 and…
Newser

Name Change Ends 27-Year Dispute Between 2 Countries

June 13, 2018 |

Greece and Macedonia reached an historic agreement Tuesday to end a bitter 27-year name dispute that had kept the smaller and younger country out of international institutions such as NATO, the two countries’ prime ministers announced. Greece’s Alexis Tsipras and Macedonia’s Zoran Zaev said the former Yugoslav republic’s new name…
Newser

Spain: We’ll Take Migrants From Ship 2 Countries Rejected

June 11, 2018 |

Spain has come to the aid of a ship that was left drifting with no destination after both Italy and Malta refused to take the migrants it’s carrying. The Aquarius rescued the 629 migrants, who include 123 unaccompanied minors, 11 other children, and seven pregnant women among them, from inflatable…
Newser

South Korean Exchange Bithumb Blocks Trading in 11 Countries

May 28, 2018 |

South Korean Exchange Bithumb Blocks Trading in 11 Countries

South Korea’s largest cryptocurrency exchange Bithumb has announced that it will block trading in 11 countries as part of its revised internal regulations aimed to prevent money laundering using its system. Foreign users will also need to undergo a stricter verification process.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Preventing Money Laundering

South Korean Exchange Bithumb Blocks Trading in 11 CountriesBithumb announced on Sunday that its internal regulations have been revised in order to prevent money laundering activities using its system, according to local media. Business Korea elaborated:

With growing concerns over money laundering through cryptocurrency trading, Bithumb, South Korea’s biggest cryptocurrency exchange, will ban digital asset trading with investors in North Korea, Iran, Iraq, and eight other countries that are considered as high-risk jurisdictions by the Non-Cooperative Countries and Territories (NCCT) Initiative.

At the time of this writing, Bithumb’s 24-hour trading volume has overtaken Upbit’s, standing at about $ 250.41 million. The Kakao-backed exchange Upbit’s trading volume for the same time period is approximately $ 235.1 million, according to Coinmarketcap.

South Korean Exchange Bithumb Blocks Trading in 11 CountriesTo prevent the inflow of funds relating to “international terrorism and crime,” users from NCCT countries “shall be blocked,” Bithumb wrote, adding that new members from these countries will not be accepted and existing members will be blocked from the 21st.

Bithumb says it is self-enforcing these strict rules to foster the transparent cryptocurrency market and investor protection. “We will cooperate with the government” and follow self-regulatory measures based on the policies introduced by the Korean Blockchain Association, the exchange emphasized. The Korean Blockchain Association is spearheading self-regulation among crypto exchanges in the country. Bithumb’s revised internal regulations reflect “the government’s recommendations and the Korean Blockchain Association’s recommendations,” Korea Economic Daily elaborated.

Blocking 11 Countries

The Financial Action Task Force (FATF) is an intergovernmental organization on the initiative of the G7 to develop policies to combat money laundering.

South Korean Exchange Bithumb Blocks Trading in 11 CountriesThe NCCT are countries the FATF has “recognized as regions with insufficient policies and regulations to restrict money laundering and the utilization of various forms of money to finance illegal operations, including North Korea, Iran, Iraq and Sri Lanka,” Business Korea described.

According to Bithumb’s website, the other countries are Serbia, Ethiopia, Syria, Trinidad and Tobago, Tunisia, Vanuatu, and Yemen.

“The 11 countries monitored by the NCCT Initiative” will be banned, the news outlet reiterated, noting that Bithumb made this decision “to prevent its infrastructure and platform from being used to launder money and any international finance terror or criminal activities.” The publication added:

Bithumb will soon request foreign users to endure a mobile verification process to ensure users cannot deceive the platform by falsifying personal information and residential address starting from next month.

What do you think of Bithumb’s revised rules? Let us know in the comments section below.


Images courtesy of Shutterstock, Al Monitor, and Bithumb.


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The post South Korean Exchange Bithumb Blocks Trading in 11 Countries appeared first on Bitcoin News.

Bitcoin News

China Rejects U.S. Target for Narrowing Countries’ Trade Gap

May 20, 2018 |

A last-ditch effort by the Trump administration failed to get China to accept its demand for a $ 200 billion cut in the U.S. bilateral trade deficit, as Chinese officials resisted committing to any specific targets.
WSJ.com: What’s News Asia

China Rejects U.S. Target for Narrowing Countries’ Trade Gap

May 20, 2018 |

A last-ditch effort by the Trump administration failed to get China to accept its demand for a $ 200 billion cut in the U.S. bilateral trade deficit, as Chinese officials resisted committing to any specific targets.
WSJ.com: US Business

Mueller Update: Trump Jr. Met Reps From Other Countries, Too

May 19, 2018 |

Seems Donald Trump Jr. had another meeting with foreigners during the election that Robert Mueller’s team is investigating, the New York Times reports. According to insiders, Trump Jr. met with a small group at Trump Tower in August 2016: an envoy for two Arab princes, an Israeli expert in social…
Newser

Japanese Crypto Exchange Continues Global Expansion – Now in Five Countries

May 19, 2018 |

Japanese Crypto Exchange Continues Global Expansion - Now in 5 Countries

A Japanese government-approved cryptocurrency exchange has resumed expanding overseas. Already operating in five countries with a plan to launch in more in the near future, the exchange aims to construct a global network of crypto transactions.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Building Global Network

Japanese Crypto Exchange Continues Global Expansion - Now in 5 CountriesBitpoint Japan was among the first crypto exchanges to be fully licensed by the Japanese Financial Services Agency (FSA). It is a subsidiary of Remixpoint (3825.T), a listed company on the Tokyo Stock Exchange.

Bitpoint has started a new round of expansion overseas, after entering a few countries last year. The company announced on Thursday that its Malaysian exchange has begun operations.

The Kuala Lumpur-based Bitpoint Malaysia opened its doors on May 17, offering spot trading and leverage trading. The fee for spot trading is 0.5% while leverage trading carries no fee. Deposits and withdrawals in Malaysian Ringgit are free during the grand opening. The exchange wrote:

We offer leverage of 2, 5, 10 and 25 times.

Five cryptocurrencies are supported: BTC, ETH, BCH, LTC, and XRP. Bitpoint Japan says it “will support Bitpoint Malaysia as a system and liquidity provider.”

Global Operations

Japanese Crypto Exchange Continues Global Expansion - Now in 5 CountriesIn addition to Malaysia and Japan, Bitpoint is also operating in South Korea, Taiwan, and Hong Kong. The exchange also opened an office in China in July last year before the Chinese government shut down all crypto exchanges in the country.

In addition, the exchange is reportedly preparing to enter Singapore, Thailand, and other Asian markets in the near future. Bitpoint detailed:

By continuing to provide overseas exchanges using the Bitpoint system in the future, we will continue to realize the construction of a global network of virtual currency transactions.

Tougher Rules and Competition in Japan

Since the hack of Coincheck, one of the most popular crypto exchanges in Japan, the FSA has tightened its cryptocurrency oversight. The country still has 16 fully-licensed crypto exchanges, which have recently formed an association to focus on self-regulation in an effort to rebuild public trust in the crypto industry.

However, out of the 16 “deemed dealers,” which are those allowed to operate while their applications are being reviewed by the FSA, only 8 remain. The agency recently revealed that the other 8 have indicated that they are withdrawing their applications.

Meanwhile, the agency confirmed that over 100 companies are seeking to enter the space, including Yahoo! Japan and Line Corp, which operates the popular chat app Line.

What do you think of Bitpoint’s global expansion plans? Let us know in the comments section below.


Images courtesy of Shutterstock and Bitpoint.


Need to calculate your bitcoin holdings? Check our tools section.

The post Japanese Crypto Exchange Continues Global Expansion – Now in Five Countries appeared first on Bitcoin News.

Bitcoin News

CNN

How bad is it in the countries these migrants are fleeing from? This bad

April 30, 2018 |

The agony and desperation are written all over the migrants’ faces. But what you can’t see is how bad their homelands really are.
CNN.com – RSS Channel – Regions – Americas