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| February 17, 2018

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decisions Archives -

California’s two health insurance regulators to investigate Aetna coverage decisions

February 13, 2018 |

Both of California’s health insurance regulators said they will investigate how Aetna Inc. makes coverage decisions, as the lawsuit of a California man who is suing the nation’s third-largest insurer for improper denial of care heads for opening arguments Wednesday.

The Department of Managed Health…

L.A. Times – Business

South Korean Banks Reverse Decisions on Cryptocurrency Accounts

January 15, 2018 |

South Korean Banks Reverse Decisions on Cryptocurrency Accounts

South Korean banks have backtracked from their decisions to stop servicing cryptocurrency accounts as crypto investors protested and the government re-discussed its policy. The country’s 6 major banks have been told that they must follow through with the original plan and install the system that would end the anonymous trading of cryptocurrencies.

Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading

Banks U-Turned

South Korean Banks Reverse Decisions on Cryptocurrency AccountsSouth Korean banks have reportedly reversed their decisions to stop servicing cryptocurrency accounts. “They will stick to their initial plans to allow clients to open accounts for cryptocurrency transactions using their real names within the month,” Korea Joongang Daily reported.

The original plan has been for banks to stop issuing virtual accounts and install the new government-mandated, real-name identification system. From that point on, they would only issue real name accounts. This new system is expected to be introduced around January 20.

The news outlet detailed:

The country’s financial regulator has pushed banks to stop opening new accounts until they establish a way to verify that the accounts bear the real name of the customer, to prevent money laundering.

Last week, the regulators began inspecting the country’s 6 major banks to ensure they have fulfilled their anti-money laundering (AML) obligations with regard to virtual account services, as reported.

South Korean Banks Reverse Decisions on Cryptocurrency AccountsWhile the inspections will not conclude until January 16, some banks decided to pull out of servicing cryptocurrency accounts “due to strong pressure from financial authorities” and criticism that “banks are supporting virtual currency transactions,” Money Today described.

The regulators then informed the 6 banks that their decisions regarding whether to service crypto accounts do not have any bearing on their obligations to install the new real-name system. As such, banks agreed to install the new system as planned. The Korean Financial Services Commission (FSC) said Sunday, as reported by Korea Joongang Daily:

Banks will open new accounts after it [FSC] releases guidelines about avoiding money laundering.

Shinhan Bows to Investor Complaints

South Korean Banks Reverse Decisions on Cryptocurrency AccountsAmong the banks that decided to stop servicing cryptocurrency accounts was Shinhan Bank. A letter regarding this decision was immediately sent to the crypto exchanges currently using the bank’s virtual account services, including the country’s largest exchange Bithumb.

Following the bank’s announcement, “some Shinhan users – possibly bitcoin traders – threatened a boycott of the bank,” the publication noted. Yonhap elaborated:

After the news was announced, investors rebelled and the financial authorities decided to re-discuss the policy when they asked for a real-name confirmation service.

Shinhan Bank subsequently reversed its decision, stating that the bank will review its virtual account opening policy and “will allow deposits to existing virtual accounts for the time being,” the news outlet detailed.

Korea Joongang Daily added, “Shinhan Bank notified major local cryptocurrency exchanges such as Bithumb and Korbit that they should come up with measures to get rid of existing anonymous accounts.”

While it remains possible for Shinhan Bank users to deposit into existing virtual accounts, the government announced on Sunday that anyone doing so would face a fine once the real-name system is implemented.

What do you think of banks reversing their decisions on crypto accounts? Let us know in the comments section below.

Images courtesy of Shutterstock and Shinhan Bank.

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

The post South Korean Banks Reverse Decisions on Cryptocurrency Accounts appeared first on Bitcoin News.

Bitcoin News

Nobel Economics Winner Knows Your Money Decisions Aren’t Rational

October 9, 2017 |

The winner of the Nobel economics prize says the most important impact of his work is “the recognition that economic agents are humans” and money decisions are not made strictly rationally. Richard Thaler , of the University of Chicago, was speaking in a phone call to a news conference immediately after…


Justin Bieber’s Dad Flies to L.A. for Quality Time On Heels of Major Life Decisions

August 1, 2017 |

Justin Bieber’s blood father is back on the scene … just days after some huge events in his son’s life, and word he had been leaning on Pastor Carl Lentz for fatherly guidance. Bieber’s pops, Jeremy, flew to L.A. from Ontario, Canada over the…

EPA’s bee decisions are sweet for growers, but they sting environmentalists

January 15, 2017 |

The U.S. Environmental Protection Agency backed away from tough restrictions on how pesticides can be used while honeybees are pollinating crops, and it declared that three of the pesticides most closely associated with bee deaths are safe in most applications.

The assessments, released late Thursday,…

L.A. Times – Business

The argument for having different caretakers for healthcare and financial decisions

December 25, 2016 |

Dear Liz: My mother is 74 and her health is starting to deteriorate. She had a last will made up about 15 years ago when my stepdad left her. I found out that she named me executor and gave me power of attorney for healthcare decisions. After the last year, when she became very contentious about…

L.A. Times – Business


UFC’s Cody Garbrandt — Dominick Cruz Ain’t a ‘Real Fighter’ … ‘He Skates On Decisions’

September 14, 2016 |

UFC bantamweight champ Dominick Cruz fights like a bitch … so says Cody “No Love” Garbrandt.  Cody was out in NYC and explained why he hates Cruz’s guts so much — and says a lot of the disdain stems from DC’s fighting style.  “I’m…

Asia markets rise ahead of US, Japan bank decisions

July 27, 2016 |

The Bank of Japan concludes its gathering on July 29, 2016, and is widely tipped to unveil fresh stimulus as the world's number three economy struggles and inflation is virtually non-existentAsian markets mostly rose on Wednesday as the Federal Reserve prepares to wrap up a key policy meeting, while Tokyo rallied days before an expected Bank of Japan stimulus announcement. The Federal Reserve concludes its meeting Wednesday and while it is not expected to announce any new policy, dealers are keen to find out its appraisal for the US economy and plans for interest rates in light of a string of positive data, including on jobs. "In all likelihood, the Fed may take a cautious stance highlighting Brexit concerns, but there is certainly some scope for (it) to lean hawkish," said Stephen Innes, senior trader at OANDA Asia Pacific.

Economy News Headlines – Yahoo! News

Career Coach: Taking a day off could help you make better decisions

May 30, 2016 |

In the 1980s classic movie “Ferris Bueller’s Day Off,” Ferris says to his friend, “Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” He’s referring to the craziness of everyday life and taking time to live in the moment and enjoy life. But this also…

L.A. Times – Business

How much should a Fed rate increase guide home refinancing decisions?

May 29, 2016 |

The Federal Reserve decided to leave short-term interest rates unchanged when it met in April but left open the possibility of raising rates in mid-June.

News of the Fed’s decisions is always of interest to homeowners and prospective homeowners, because short-term rates have an effect (though not…

L.A. Times – Business