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Leaders of South Korean Crypto Exchange Komid Jailed for Faking Volume ! Other crypto news

This is a daily round up of important blockchain and crypto news between Jan 18, 2019 and Jan 19, 2019 . The focus is on important news around developments in the blockchain space, on exchanges and crypto projects.

 Please note that this is neither the only nor the exhaustive list, we are constantly trying to improve the feed and if you have any feedback, please feel free to contact us.


1. Leaders of South Korean Crypto Exchange Komid Jailed for Faking Volume: Local Media

Two leaders of the South Korean cryptocurrency exchange Komid were reportedly sentenced to serve jail time for faking exchange volumes, Korean crypto media outlet blockinpress reports on Jan. 18. The exchange’s CEO, surnamed Choi, received a three-year sentence, while another company leader with an unspecified role was purportedly sentenced to two years imprisonment for fraud, embezzlement and misconduct, the article notes. Read more

2. Privacy Cryptocurrency Beam Experiences Blockchain Stoppage

Newly released privacy-oriented cryptocurrency Beam reported this morning that its blockchain is experiencing technical difficulties.Beam announced the information on its official Twitter account Monday, saying that its network “stopped at block 25709” and that it was investigating the matter. Read more

3. UAE, Saudi Arabia Launch Cryptocurrency Pilot for Cross-Border Payments

UAE and Saudi Arabia — two countries that have the world’s second-largest combined sovereign wealth funds — have launched their pilot cryptocurrency.According to UAE’s official news agency, Emirates News Agency, the Saudi-Emirati cryptocurrency is one of the seven initiatives that will be implemented in both countries. Read more

4. South Africa Establishes a Consultation Paper to Regulate and De-Anonymize Bitcoin Transactions

The South African Reserve Bank has released a consultation paper to regulate cryptocurrencies in the region. However, the government is seemingly introducing banking-like features to the crypto-markets, going against the very ethos of what Bitcoin stands for.The bank chooses to call cryptocurrencies as crypto “assets” over the former term, deeming the distinction makes it easier for authorities to enforce tax policies and various protection laws dealing with the possession of a digital property.Read more

5. Major Central Bank Institution BIS: Bitcoin Must Depart From Proof-of-Work

Bitcoin’s (BTC) problems are only solvable by departing from a proof-of-work (PoW) system, according to research published by the Bank for International Settlement (BIS) on Jan. 21.According to the paper, when in the future Bitcoin’s block rewards fall to zero — given that only a limited number of new Bitcoin will ever be created — transaction fees alone will not be able to sustain mining expenses. Read more

Bite-sized News

Only the headlines are enough for these news

  • Swiss ‘Smart Card’ Crypto Wallet Tangem Gets $15 Million From Japan’s SBI Group Read Story.
  • Alistair Milne: Bitcoin Is Only Public Blockchain Certain to Last for Next 100 Years Read Story.
  • Japan: Regulators Approve Startup’s Bitcoin Sidechain Trial for Exchanges Read Story.
  • Digital Garage to Test Yen-Pegged Stablecoin on Blockstream Network Read Story.
  • Bitcoin ATM Maker Coinme and Coin-to-Cash Kiosk Maker Coinstar Bring Bitcoin to Shopping Malls of US Read Story.

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