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Despite being found dead on Tuesday, Nevada’s most famous pimp is poised to win a Nov. 6 election to the state legislature , reports the AP . The body of Dennis Hof, who marketed himself as a Donald Trump-style Republican in his race for a heavily GOP Assembly district, was found at…
Broadcast giant CBS Corp. has identified Los Angeles real estate investment company Hackman Capital Partners as the buyer for its storied Television City production studios.
Hackman Capital has been selected by CBS as the winning bidder in a transaction that could be valued at more than $ 700 million,…
The South Korean government is expected to announce its position on initial coin offerings in November, according to a high-ranking official. The decision will follow the outcome of the survey which the country’s Financial Supervisory Service recently sent out to domestic blockchain companies.
ICO Stance Expected in November
Hong Nam-ki, Chief of the Office for Government Policy Coordination, conveyed during a parliamentary audit on Thursday that “The Korean government is likely to announce its stance on the much–disputed status of initial coin offerings [ICOs] in November,” the Investor reported.
He explained that a survey on ICOs has been sent to local blockchain companies by the country’s Financial Supervisory Service (FSS). The FSS is responsible for setting some policies on cryptocurrencies including anti-money laundering measures. The aim of the survey is “to gather their [survey recipients] views on the current legal framework” for ICOs, the publication added. “We did the survey as some companies are conducting or preparing for ICOs despite the ban here,” Hong clarified and was further quoted saying:
We have had several discussions (on ICOs)…Once the survey results are in by end-October, we plan to finalize the government’s stance.
Money Today also quoted him reaffirming, “I intend to form a government position on ICOs next month.”
The South Korean government banned all forms of ICOs in September last year but has yet to introduce any law governing them. This has caused a number of Korean blockchain companies to launch their tokens abroad, providing the opportunity for domestic investors to continue to invest in ICOs.
Korean Government’s ICO Survey
The ICO survey sent by the FSS has troubled businesses that received it, according to local media. Questions in the survey concern any ICO projects companies may be involved with or are planning to engage in, including reasons to issue tokens and their methods of distribution, the Korea Economic Daily reported.
While the FSS says that the survey is not mandatory and that it only seeks “to understand the exact situation of the industry, not for sanctions,” companies are reluctant to disclose certain information since ICOs are currently banned in the country, the publication noted. An official of a company that received the survey told the news outlet:
We have decided [that it’s] our internal policy to respond to [the survey due to] the concerns that it may be disadvantageous to be listed on the [government’s] blacklist if it is declined.
FSC’s Current ICO Stance
Meanwhile, the Financial Services Commission (FSC), South Korea’s top financial regulator, has reaffirmed its stance on ICOs for the time being.
“The government does not deny the promise of the blockchain industry,” FSC Chairman Choi Jong-ku was quoted by Yonhap saying on Thursday. However, “I do not think it is necessary to equate the virtual currency business with the blockchain industry,” he said, elaborating:
Many people say ICOs should be allowed, but ICOs’ uncertainty remains, and damage is too serious and obvious.
Choi also emphasized the need for more crypto exchanges to use the real-name system that the government implemented in January. The regulator aims to convert all crypto trading accounts to real-name ones. However, banks have only been providing the real-name conversion service to the country’s four top crypto exchanges: Upbit, Bithumb, Coinone, and Korbit. All other exchanges continue to use their corporate accounts which the regulator says are prone to money laundering.
“We have to convince the banks,” Choi asserted, recognizing that currently “commercial banks do not give real-name accounts to some virtual currency exchanges.”
What do you think the Korean government will announce in November? Let us know in the comments section below.
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The U.S. and Turkey are expected to begin mending a rupture in relations with the likely release Friday of pastor Andrew Brunson from detention and house arrest in Turkey.
WSJ.com: What’s News Europe
The FBI is expected to send a single copy of its supplemental report on sexual misconduct allegations against Supreme Court nominee Brett Kavanaugh to Capitol Hill, where it will be kept in a Senate Judiciary Committee safe, two senior Senate sources confirmed to Fox News Wednesday.
The tsunami that killed hundreds, possibly thousands of people after an earthquake in Indonesia on Friday was much bigger and more devastating than would normally be expected after that kind of quake, scientists say. “We expected it might cause a tsunami, just not one that big,” geophysicist Jason Patton tells…
Apple Inc. will kick off a blitz of new products this week, ending a year of minor updates and setting the technology giant up for a potentially strong holiday quarter.
Through the rest of the year, the world’s most valuable public company will launch three new iPhones, revamped iPad Pros, Apple…
Bowing to pressure brought on by a sexual harassment scandal, CBS Corp. Chairman and Chief Executive Leslie Moonves is expected to resign late Sunday or early Monday, according to two people familiar with the matter who were not authorized to comment publicly.
Negotiations over the terms of his…
During the final holiday weekend of the summer, a record 16.5 million people are expected to fly on U.S. airlines, a 3.5% increase over the Labor Day weekend in 2017, according to Airlines for America, the trade group for the nation’s air carriers.
The country’s airlines are expected to fly 2.36…
The deputy for innovative technologies at the Central Bank of Iran, Nasser Hakimi, has stated that Iran’s financial regulator will be reviewing the country’s blanket cryptocurrency ban. The central bank official also indicated that the country’s regulatory apparatus pertaining to virtual currencies is expected to be finalized by the end of September.
Iranian Central Bank Official Hints That Cryptocurrency Ban May Be Repealed During September
Whilst speaking at a conference on cryptocurrency and distributed ledger technology in Tehran on Sunday, Nasser Hakimi, the Central Bank of Iran’s deputy for innovative technologies, made statements inferred as indicating that the Iranian administration will likely repeal its blanket ban on cryptocurrencies during September.
“The first concerns the prevalent global cryptocurrencies. The High Council of Anti-Money Laundering has imposed a ban in light of concerns over global allegations of money laundering and financing of terrorism. But it seems that after the government’s consideration, this blanket ban will be reviewed,” Mr. Hakimi stated.
The blanket ban, first announced on April 22nd of this year, was ostensibly intended to address concerns pertaining to money laundering and financing of terrorism.
Iran to Deliver New Cryptocurrency Regulations in September
The cryptocurrency ban is expected to be lifted when Iran announces the finalization of its new regulatory apparatus pertaining to cryptocurrencies, which is currently slated to occur by the end of September.
According to Financial Tribune, Iran’s new cryptocurrency policies have been developed under the guidance of President Hassan Rouhani.
Iran Is Testing National Cryptocurrency
Mr. Hakimi also discussed the possibility of Iran’s current position regarding the development of a state-issued cryptocurrency, stating: “National virtual currencies haven’t proved successful experiences in the world, but some economic officials have emphasized on this, so the Informatics Services Corporation has readied a test edition and some other entities are also cooperating in this.”
Saeed Mahdiyoun, an official representing Iran’s Supreme Cyberspace Council, also recently indicated that the country’s cyberspace authority was actively exploring the idea of introducing a national cryptocurrency.
Do you think Iran will repeal its cryptocurrency ban next month? Share your thoughts in the comments section below!
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