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On this week:
Breaking News: Indian Exchanges Gear Up as Supreme Court Lifts RBI’s Ban on Cryptocurrency!
India’s Supreme Court on Wednesday 4 March 2020 lifted an order by Reserve Bank of India (RBI) back in 2018, which restricted banks from providing services to legalise dealing with cryptocurrencies. Indian traders can now deposit their rupees into their crypto accounts and use it for cryptocurrency trading.
Source: Business Today
Green Light for the Crypto Blockchain: South Korea Legalises Crypto Trading!
Today, the National Assembly of South Korea passed a new legislation that provides a framework for the regulation and legalise cryptocurrencies and crypto exchanges. The country had been in the spotlight recently over the rising toll of coronavirus. A unanimous vote was held amidst the country’s worsening novel coronavirus situation. Representatives have decided to pass an amendment to the country’s financial services laws. This act would authorize Korea’s financial regulators to effectively oversee and control the industry and create rules around anti-money laundering among other processes.
Source: The Diplomat
2 Chinese Nationals Charged for Laundering over $100 Million USD of Cryptocurrency from 2018 Cyber Attack Linked to North Korea
On Monday, Two Chinese nationals were charged in the United States with laundering more than $100 million USD of stolen cryptocurrency from a 2018 cyber attack related to North Korea’s illegitimate nuclear missile and weapons development program. The Speculations of security threats came to light when North Korea was reported to have raised up to $2 Billion for its weapon development program through cyber attacks, including laundering of funds and hacking from multiple crypto exchanges to generate its funds.
Source: The Washington Post
Line Hops on the Crypto Wagon, Sets a New Dollar Gateway for U.S Traders Through New Crypto Exchange!
Japanese tech app company LINE known for its messaging App, targets to provide U.S traders a new dollar gateway to cryptocurrencies through a new exchange. The U.S. subsidiary of LVC Corporation, will be subsidiary responsible for LINE’s upcoming blockchain and cryptocurrency-related business operations.