Traditional Traders Could Be Ready to Go Crypto, Prefer Bitcoin – Survey

Senior trading executives believe that larger trading companies are about to take the crypto plunge, and could be set to provide the market with a timely boost, per a new study. Bitcoin/USD is the most preferred trading pair, it added. In a report named Institutional Adoption of Digital Asset Trading, compiled by the Acuiti management intelligence platform, in conjunction

A Sign of Adoption: Line Says 62% of its Exchange Users Are New to Crypto

Chat app operator Line says that 62% of its Bitmax crypto trading platform users have no prior experience in cryptoasset trading. Bitmax is accessible from the Line chat app, which Line says has 83 million users in Japan. App users can access the exchange via a tab, and can also redeem points acquired through using other Line services on Bitmax. In a press release,

Research: Bitcoin Still Correlated with US Markets, But Not for Long

Bitcoin (BTC) prices have been correlated with American equities of late, but that situation is set to change, per a new report. This was the key takeaway from a study published by Binance Research, a unit the global crypto exchange, aimed at uncovering the full effect of the current coronavirus-led financial crisis on international markets. The report’s authors claimed,

Prosecutors Charge Two Men over Coincheck Hack, But Not For Hacking

Tokyo prosecutors have formally charged two men with handling stolen cryptoassets as part of the investigation into the January 2018 hack on crypto exchange Coincheck – still the biggest crypto heist in human history. Per media outlet Nikkei, the two men, an Osaka-based 39-year-old and a doctor, aged 30, from Obihiro, Hokkaido, under the terms of the Act on Punishment

Scammers Raise USD 4.9m in Ethereum in 2 Months + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crime news A South Korean scam operator has reportedly gathered around USD 4.9 million in ethereum (ETH) as part of a multi-level marketing (MLM) scheme. Per Joongang Ilbo, the Seoul-based outfit, which was

66,000 Spanish Crypto Traders Warned to Pay Tax on their Earnings

Source: Adobe/Hugh O'Neill Either more Spanish citizens than ever before traded in cryptoassets in the past financial year or the country’s tax authorities have become more adept at monitoring citizens’ crypto-related activities. That appears to be the takeaway after Spanish tax authorities said that they were set to send out over four times as many crypto tax warning letters than at the same

Will New P2P Legislation Hurt South Korean DeFi Industry?

South Korean decentralized finance (DeFi) players have called for calm after some experts claimed that forthcoming legislation could effectively hamstring the nation’s fledgling DeFi market. Many industry insiders have expressed alarm over a recent amendment made to a digital finance act pertaining to peer-to-peer (P2P) financing, due to come into force in August this year.

Boerse Stuttgart’s Crypto App Grows 40% This Year + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Adoption news Boerse Stuttgart Group’s crypto app BISON, launched more than a year ago, has hit the 100,000 active users mark. The press release states that the number of active users of BISON has grown

USD 9bn Bitstamp and Korbit Owner NXC to Launch New Crypto Exchange

NXC, the South Korean operator of the Bitstamp and Korbit cryptocurrency exchanges, has launched a new crypto subsidiary, with plans to open a third trading platform. NXC is the holding company of gaming giant and business group Nexon, and officially unveiled its new Arques subsidiary on March 31, with a view to opening a new exchange platform. The company will target

New Gen Bitcoin Mining Machines ‘To Serve For 3-4 years’ + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Mining news Hardware maker Bitmain says that newer mining rigs could be used for longer than previous devices due to a forthcoming market turnaround. Per media outlet 8btc, Bitmain chief Jihan Wu stated

More New Bitcoin Dev Funds Needed, Key Funding Players Revealed – Study

The outlook for Bitcoin (BTC) development is generally positive, and although funding and training incentives “could improve,” funding is “far more distributed than it has been in the past,” per a new report. The report, compiled by BitMEX, confirmed many of the findings of Cryptonews.com’s own investigations into who funds Bitcoin development in January this

Can Police Seize Nth Room Crypto? Int’l Exchanges Agree to Cooperate

Legal confusion has broken out in South Korea as experts and lawyers remain uncertain as to whether the police can confiscate the cryptocurrency holdings of Telegram Nth room chief suspect Cho Joo-bin. Cho is suspected of running a network of chat rooms that circulated sexual exploitation videos, with graphic footage of rape and sexual violence. A number of the

Venezuelans Use Bitcoin as Gateway to Buy Foreign Fiat – Research

Bitcoin (BTC) continues to boom in Venezuela – but only because it is helping citizens buy hard-to-purchase foreign fiats, says an industry observer. As previously reported, trading volumes on peer-to-peer (P2P) platform LocalBitcoins have spiked again in recent weeks. In a report from the Open Money Initiative, author Matt Ahlborg wrote, “For a long time, the bitcoin

Investors Accused Ripple CEO of Dumping XRP While Touting It + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Legal news In an amended complaint filed Wednesday in the U.S. District Court of the Northern District of California, XRP investors accused Ripple CEO Brad Garlinghouse of touting the product, as well as

Spanish Red Cross Rejects Crypto While Italians Raise USD 20K in Bitcoin

Italy and Spain are two of the countries worst hit by the coronavirus pandemic, and perhaps two of the countries whose health workers are now in most pressing need of financial support. But the Red Cross organizations in both countries are taking a very different approach to cryptocurrency donations – with Italian charities raising thousands of dollars’ worth of bitcoin

Blockchain Plays a Part as China Claims 72% of SMEs Are Back to Work

Chinese authorities state that industry 4.0 technologies such as blockchain technology have helped almost 72% of the nation’s small and medium-sized enterprises (SMEs) return to work in the wake of the coronavirus pandemic. Per Chinese state news networks the People’s Daily and the Beijing Youth Daily (via East Money), spokespeople from the country’s health

Korean Nth Room Police Hunt 260K Crypto Wallets, Brokerages Hand over Client Data

South Korean crypto exchanges are cooperating with the police investigation into the Telegram “Nth room” sexual exploitation case, with brokerages now being searched, and exchange data seized and hundreds of thousands of crypto-fiat gateway records checked. Per a number of South Korean media outlets, including Yonhap and KBS, as well as Newsis and Nocut News, police now

S Korean Province to Fight COVID-19 Recession with Stablecoin Handout

Suwon, the capital of Gyeonggi Province. South Korea was one of the first nations after China to be hit with a major coronavirus outbreak. But as the health crisis slowly abates in the East Asian nation, government authorities are now looking at ways to deal with COVID-19’s economic fallout. But rather than turning to “money printer go brrr” solutions only, there are

Bitfinex, Bybit Launch New Products, CoinDCX Raises USD 3m + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news Bitfinex has launched a proprietary surveillance tool, dubbed Shimmer, in order to combat market abuse and help promote orderly trading on the exchange, says the press release. This

Upbit, Bithumb, Korbit, Coinone Hand Data to Telegram Nth Room Investigators

Police investigating the so-called Telegram “Nth Room” pedophile ring have served search warrants to most of South Korea’s leading crypto exchanges – including the “big four” of Upbit, Bithumb, Korbit and Coinone – as they attempt to track down people who paid to watch video footage featuring the brutal rape and torture of women and underage girls who reporters

Russian Economy Ministry ‘Wants to Legalize Crypto’ in Sandboxes

Russia could be set to legalize cryptocurrencies for companies and investors operating in new, industry 4.0-friendly regulatory sandboxes. Per news outlet Izvestia, the country’s Ministry of Economic Development wants to add a range of new provisos to sandbox-related legislation submitted last week to the State Duma, the country’s parliament. The ministry wants

Japan’s Favorite Tipple Sake to Get Blockchain Makeover + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Blockchain news EY Japan, one of the country’s “big four” accountancy firms, says it will debut a blockchain-powered traceability platform for producers, distributors of Japan’s favorite alcoholic

Major Securities Firm Gives Its Shareholders Bitcoin Benefits

Japan’s Monex Group has become the latest financial company to offer its shareholders cryptocurrency benefits – and will become the first major securities firm to give out end-of-year bitcoin (BTC) benefits. Per an official announcement, Monex – one of the country’s biggest securities companies and the operator of the Coincheck crypto exchange – will award all

This Crypto Firm Turns its Hand to Mask Manufacture to Fight Virus

A South Korean crypto outfit has come up with an entrepreneurial response to the coronavirus pandemic – by setting up a face mask factory and offering customers discounts if they buy using the company’s native token. Per media outlet ZDNet Korea, Pandagram, which operates a crypto pay platform, has set up a mask production plant in Gunpo, Gyeonggi Province (near

Italian Bank to Offer Bitcoin Trading Services to 1.2m Customers

Hype mobile banking platform by Banca Sella. Could the coronavirus outbreak be the jolt that drives the traditional banking sector and the cryptocurrency sector together? In Italy, there are suggestions that this is already the case, with Banca Sella preparing to launch bitcoin trading services for many of its mobile banking customers. The bank’s plans involve using its 1.2

South Korean Crypto Exchanges Ready Compliance Measures as Clock Ticks

South Korea’s landmark Special Financial Transactions Information Act amendment was promulgated earlier this week, a fortnight after the country’s parliament voted unanimously in its favor. Although many industry players have been galvanized by it, others have warned that its stipulations – which will include stringent regulation of crypto exchanges – could force

Bitcoin Oversupply Issue Over & Prices Now Stable, Says Chainalysis

Blockchain and analytics specialist Chainalysis says that although bitcoin (BTC) inflow volumes to exchanges are still high, it looks as though prices have attained some degree of temporary stability. In a recent report on the state of the BTC market, analyst Philip Gradwell wrote, “The majority of excess bitcoin arriving at exchanges has been sold, and the worst of

Why Is South Korea’s Coronavirus Fatality Rate so Low?

With the coronavirus pandemic raging – bringing illness, death, and unprecedented economic decline in its wake, the pressure is on scientists, doctors and statisticians to pick key patterns out of the flood of coronavirus-related data. In fact, rewind a few weeks and you may recall that South Korea was once the worst-hit nation on earth besides Mainland China in terms