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Tag Archives: Local

Major Russian Banks Highly Interested in ‘Working With Crypto,’ Local Sources Say

Several large Russian banks have expressed their strong interest in working with the industry of cryptocurrency and blockchain during a closed-door meeting held at the Moscow Exchange, sources told Russian news site RBC September 19. As an unnamed source familiar with the matter told RBC, the demand for cryptocurrencies in Russia is very high, but the banks are not able ...

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UAE Preparing to Adopt Formal ICO, Fintech Regulations, Local Media Report

The United Arab Emirates (UAE) has approved a draft of regulations governing Initial Coin Offerings (ICO), local media outlet WAM reported Sunday, September 9 citing government sources. The reported move comes in addition to lawmakers in the country adopting plans for a regulatory sandbox aimed at attracting greater fintech activity. “The sandbox will act as an environment that attracts innovators ...

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Crypto Price Gap Between Local, Foreign Exchanges Could Widen Again

South Korea’s central bank, the Bank of Korea (BoK), has cautioned of another possible widening of the gap in crypto prices between local and foreign exchanges, local news agency No Cut News reported September 11. In the report, the bank warned the public about another possible emergence of the so-called “kimchi premium,” a phenomenon consisting of the difference between the ...

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Japanese E-Commerce Major Rakuten to Acquire Local Crypto Exchange Everybody’s Bitcoin

Japanese e-commerce giant Rakuten, which has a market capitalization of over $12.5 billion, has revealed a 265 million yen ($2.4 million) deal to acquire domestic crypto exchange Everybody’s Bitcoin, in an announcement published August 31. The deal, which will reportedly be settled by October 1, has been made via Rakuten’s subsidiary, Rakuten Card Co. Ltd. It is based on a ...

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Brazil’s Government Sends Local Cryptocurrency Exchanges a Questionnaire

The Brazilian government has reportedly sent the country’s top cryptocurrency exchanges an inquiry in an attempt to know more about their businesses and study their potential use in money laundering. According to a report from local news outlet Portal do Bitcoin, the government has been sending the crypto exchanges a 14-point questionnaire through their contact forms for the last two ...

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Report Alleges North Korea Trialled BTC Mining, Local Firm Developing BTC Exchange

North Korea (DPRK) has attempted to mine Bitcoin (BTC), Yonhap News reported August 27, citing a report compiled by a research unit from South Korea’s state-run Korea Development Bank (KDB). Yonhap notes that the mining attempt – which was allegedly conducted “on a small scale” between May and July 2017 – appears to have been unsuccessful, although the reasons for ...

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BitConnect’s Alleged Ringleader Arrested in India: Local Reports

Nearly eight months to the day after the ponzi scheme BitConnect exit scammed, the sins of the project have caught up to one of its figureheads. Divyesh Darji, the alleged leader of BitConnect’s Asian team, was arrested this Saturday, August 18, 2018, in the Delhi airport by the Gujarat Criminal Investigation Department (CID). In cooperation with the country’s immigration task ...

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FlipNpik’s Social Media Model: Boosting Incentives for Local Promotions

Launched in 2009, the social networking app Foursquare was hailed as providing a cutting-edge approach for users to share their location with friends. Called a “check-in,” people would reveal their location through their mobile device by selecting the venue they were frequenting at that time. The app grew immensely popular as users around the world accumulated points for spending time ...

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Chinese City of Nanjing Launches $1.5 Billion Fund for Local Blockchain Projects

Nanjing, the capital of China‘s Jiangsu province, has launched a 10 billion yuan ($1.48 billion) investment fund for blockchain development, ZDNet reports July 23. Nanjing unveiled the major new fund at the inaugural Industrial Public Chain Summit (IPCS), together with the Zhongguancun Blockchain Industry Alliance –– a Beijing-based alliance of enterprises and government research institutes. Among the high-level regional government ...

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