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South Africa Proposes 30 Rules to Regulate Cryptocurrency


South Africa’s top financial regulators, including the South African Reserve Bank, have jointly released a policy paper with 30 recommendations for the regulation of cryptocurrency and related service providers. They aim to be in compliance with the cryptocurrency standards set by...

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...

Currency.com Accused of Exploiting KYC to Withhold Customer Funds


Know Your Customer (KYC) and Know Your Transaction (KYT) are ostensibly deployed by exchanges to combat money laundering. In practice, these provisions are used as an excuse to surveil, cajole, and threaten customers, who risk losing funds if they are unable to meet the impossibly high burden...

London-Based Cryptocurrency Exchange LBX Faces Compulsory Liquidation


London-based cryptocurrency exchange LBX is the latest digital asset trading venue to face critical difficulties and is now being liquidated. Despite rising crypto prices, which typically lead to an influx of new traders, some regulated exchanges have struggled to survive amidst rising legal fees...

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