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Bill Introduced to Make South Korean Officials Declare Their Crypto Investments

A bill has been introduced in South Korea to require public officials to declare their investments in cryptocurrencies including bitcoin. This initiative follows the recent controversies within the government regarding cryptocurrency regulations, including insider trading and market manipulation. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading Bills for Public Officials to Declare Crypto Holdings Chung Dong-yong, a member of the South Korean National Assembly’s Administrative and Security Committee, has introduced a bill to add cryptocurrency holdings, such as bitcoin, ether, and ripple, to the list of public disclosure items, according to local media. Chung Dong-yong. He explained that “the current Public Service Ethics …

Indian Crypto Traders Getting Notices From Tax Authority Due to Unreported Investments

The Indian tax authority has sent notices to cryptocurrency investors after discovering that some crypto investments are not reflected on tax returns. The government conducted a survey of crypto trading at the country’s 9 exchanges and found that more than $3.5 billion worth of transactions were traded over a 17-month period. Also read: Despite Multiple Government Warnings, Indians Flock to Crypto Exchanges Tax Notices Sent to Crypto Investors The Indian income tax department revealed on Friday that it has sent notices to “tens of thousands of people dealing with cryptocurrency” following a survey at nine crypto exchanges in Mumbi, Delhi, Bengaluru, and Pune, according to Reuters. The survey shows that more …

The Rise and Fall of Ripple is a Case Study in Mass Hysteria

Through late 2017 and early 2018, ripple was the darling of cryptocurrency. Mainstream media couldn’t get enough of it, South Koreans couldn’t get enough of it, and nor could crypto newcomers, who had XRP top of their shopping list. Crypto moves at a blistering pace, though, and ripple’s decline has been as rapid as its rise. Now the dust has settled and the hype dissipated, a retrospective reveals the mass hysteria behind the rise and fall of ripple. Also read: Markets Update: Cryptocurrency Prices Rebound But Uncertainty Still Lingers Ripple: A Case Study in Collective Obsessional Behavior In the Middle Ages, a group of nuns in a French convent began randomly …

New Research: Laundering of Illicit Funds Less than 1% of Bitcoin Transactions

The Foundation for Defense of Democracies’ Center of Sanctions and Illicit Finance in conjunction with blockchain analytics company, Elliptic, has published a study seeking to track the circulations of illicit funds within the bitcoin economy from 2013 to 2016. The research concludes that the share of funds of illicit origin comprises less than one percent of all bitcoin flows, and has exponentially declined as the cryptocurrency has gained increasing adoption and popularity. Also Read: Autopsy of the Bitconnect Implosion: Ponzi, Centralization, Governance Study Seeks to Track Illicit Bitcoin Flows From 2013 to 2016 The report states that “Criminals – often early adopters of new technologies – quickly appreciated that bitcoin has …

US Regulator Sues Three Companies For Cryptocurrency Fraud

The U.S. Commodity Futures Trading Commission has filed charges against three separate companies for engaging in fraudulent schemes involving cryptocurrencies. The cases include fraud and misappropriation of bitcoin and litecoin. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations CFTC Sues Crypto Operators The U.S. Commodity Futures Trading Commission (CFTC) filed civil enforcement actions in a New York District Court on Thursday against three separate cryptocurrency operators for allegedly defrauding customers and breaking commodity trading rules. The agency proceeded to post details of two of the cases on its website on Friday. The first case concerns Colorado resident Dillon Michael Dean and his UK-registered company, the Entrepreneurs …

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