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Russian Lawmaker: Crypto Pay Could ‘Destroy the Financial System’

15.8.2020
The chief architect of Russia’s crypto regulations has defended a new Russian law that outlaws payment in bitcoin (BTC) and altcoins – claiming that a failure to do so could have spelled the end for the ruble-powered Russian financial system. The comments were made by the head of the parliamentary...

South Korean’s Silicon Valley Turns to Blockchain-powered Pay

11.8.2020
Seongnam, a major satellite city on the outskirts of the capital Seoul, South Korea, is set to expand its blockchain-powered payment program with a new digital gift certificate issuance project. The new platform will make use of an app called Chak, and will be built by the Korea Minting...

New Kenyan Digital Tax to Affect Crypto Platforms

8.8.2020
Kenya Revenue Authority (KRA) has announced new regulations that compel users of digital marketplaces to pay digital tax. At a rate of 1.5% on gross transaction value, the new tax is expected to take effect on Jan. 1, 2021. According to a report, the KRA will create a special tax unit to track...

Tourist Hotspot’s Bitcoin, Ether, Altcoin Pay Pilot in Full Swing

7.8.2020
Haeundae beach. The company behind a crypto pay pilot program at two of South Korea’s busiest beaches said that it believes token-powered payments could be set to change the way people in the country pay for goods and services. As previously reported, the pilot project is being run by...

Blockchain-based Pay’s the Way for South Korean Highways

7.8.2020
Blockchain-powered payments are coming to South Korea’s highways – with the nation’s motorway operator sealing a deal that will see it use blockchain technology to power toll payments across the country before the end of the year. Per D Daily, KEB Hana Bank, one of the nation’s biggest commercial...

Russian Lawyers Warn E-pay Laws May Have Knock-on Effects for Bitcoin

4.8.2020
A new Russian law banning anonymous fiat deposits in e-pay wallets like PayPal may have an effect on crypto users, legal experts in the country have warned. A new law governing digital payment systems came into force in Russia on August 3. The law forces operators such as PayPal and domestic rivals...

Hack Forces Travel Company to Pay USD 4.6m in Bitcoin Ransom

3.8.2020
A recent hack of a major travel management firm has reportedly left attackers with USD 4.6m worth of bitcoin (BTC), after the company on July 28 was forced to pay to restore access to internal files, Reuters reported, citing a record of the ransom negotiations. The attack targeted up to 30,0000...

India Proposes Amnesty for Citizens Holding Unreported Gold

2.8.2020
The Indian Ministry of Finance has reportedly proposed an amnesty program for citizens holding unreported gold. The government plans to ask people to declare all their gold stashes to tax authorities and pay levies. The proposition has been made to Prime Minister Narendra Modi. New Gold Amnesty...

Bitcoin to Gold Correlation Rises, Physical Metal Buyers Pay Premium

31.7.2020
After seeing a decline for more than 3 months, the correlation between bitcoin (BTC) and gold is once again on the rise, with the sharpest increase seen in late July as gold, silver, and bitcoin have all soared higher in price. At the same time, investors are forced to pay premium over the spot...

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