We’ve No Plans To Ban Cryptocurrencies, S. Korea Says As It Uncovers $600 Million Illegal Trades.

South Korea Isn't Banning Cryptocurrencies | Crypto Gaming News

We’ve No Plans To Ban Cryptocurrencies, S. Korea Says As It Uncovers $600 Million Illegal Trades. “South Korea does not have any plan to ban cryptocurrency exchanges,” the Finance Minister says. For more than one week, digital currency investors are worried. They are apprehensive that the government of South Korea will soon shut down cryptocurrency trade. By yesterday, the government, through the Ministry of Finance issues a statement. Kim Dong-Hyeon, the Finance Minister, reads a statement in behalf of the government. Kim says that the government does not have plans to ban digital coin exchanges .

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What About The $600 Million Illegal Trades?

“There is no intention to ban or suppress cryptocurrency (market). Our full intention is to ensure that digital business is a clean business. The government’s immediate task is to regulate exchanges,” Kim says. Kim’s statement that comes out on Wednesday is a relief. But many local investors and those from around the world worry. They are not sure who to trust. In recent days, there are conflicting statements. These statements come from a different faction of the government. The government announces in January that it will impose a ban.

Digital Currency Will Have Tougher Rules

Later, when releasing rules, it says that it will introduce even tougher rules. On Wednesday, when issuing the last statement, the minister says another thing. He now says that there is no intention to ban exchanges. Kim even mentions China, saying that S. Korea will be tough on digital coins but not as China. Currently, there is no trade of digital currency. South Korea is a major hub for the trade of cryptocurrency. According to world rankings, the country is the third in digital currency trade. It is behind Japan and the USA.

Since the government releases new rules, it is uncovering illegal cryptocurrency foreign exchange. The government, through the ministry of finance, says that the illegal trade is worth $600 million.

Customs service is closely looking at illegal foreign exchanges

The report says, “Customs service is closely looking at illegal foreign exchanges. The illegal trading is using cryptocurrency as part of the government’s task force.” For many months leading to months, Seoul is in the forefront to push for regulations. Above all, this follows the surge in digital coin prices. Thanks to digital coins receiving extensive media coverage, many students join the bandwagon. Homemakers too engage in the business, which is happening in spite of warnings from policymakers.

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Bitcoin Plummets To Its Lowest In 2018

During the first announcement, Seoul says that it will shut down all local exchanges. Following this announcement, all major digital coins shrink. After the announcement, the price of the Bitcoin plummets to its lowest in 2018. The coin shrinks to $9, 199. But after clarifying, the price starts to rise. The coin takes long before it comes backs to $10, 000. But it ends the month well above this level.

Later, officials clarified that the ban on local exchanges is the last option. For now, the government aims to streamline the sector. Much consideration goes to the client who the government says it intends to safeguard. Last week, South Korea fined eight exchanges that violate new regulations. Many are saying that the government is imposing strict rules. But the government maintains that it is for the better of investors.

Previous News Article: Samsung Embarks On Developing Cryptocurrency Mining Chips

Samsung Embarks On Developing Cryptocurrency Mining Chips

amsung Develops Cryptocurrency Mining Chips

Samsung Embarks On Developing Cryptocurrency Mining Chips. There is something special about Samsung. The world’s number 1 mobile phone maker is now doing more. The company announces recently that it is now into cryptocurrency mining business. Do not confuse the industry the company is into. Samsung is not mining digital coins. The number one mobile phone developer is now designing chips for cryptocurrency mining. Upon entering this sector of the market, it is now official that the company is also leading. This South Korean company is not resting. It announces that it will expand its business to deliver chips to all its clients.

What Is Causing Samsung To Develop Cryptocurrency Mining Chips?

The number of clients in the digital currency mining sector is growing fast, which is even as several countries are imposing tough rules on digital currency trade. TechCrunch reports that Samsung is confirming its involvement in the business. The site reports that Samsung is will embark on the work of creating hardware. The company is now into the creation of chips for mining Bitcoin and Ethereum. A spokesman for the company says that the digital coin mining industry is growing. Because of this, Samsung is taking the opportunity to produce chips. The chips will aid in the mining of the digital coins.

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Samsung Is Unable To Disclose Details

“Samsung’s foundry business is currently in the manufacturing of cryptocurrency mining chips. But we are unable to disclose further details about our customers,” the spokesman says. The kinds of chips the company is making are unique. It is not the first time a company is designing such types of hardware. Application-Specific Integration Circuits (ASICs, are for digital currency mining. These are very specific to perform a task. They are not like multi-processors that are on computers or mobile phones. ASICs perform a single computational task.

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The Demand For Cryptocurrency Chips Grows

The demand for such chips is growing. So many people are now into the bitcoin and other digital currency investment. What is more, if the demand for digital currency is high, the need for more chips also arises. It is for this reason that this phone developer decides to venture into such business. The work of these chips is to solve complex mathematical problems. Solving of such problems is essential. Mathematical issues become hard, which is because the number of people mining cryptocurrencies is also increasing. Thus, there is a growing need to create more chips to help miners.

Normal Integrated Graphics For Mining?

To do mining work easy, many miners are trying several methods. Although many are using normal integrated graphics in the past, they no longer do so. Some are now using gaming GPUs. But, there is another small group of elite miners who are now turning to ASICs. The latter is for easy digital currency mining. Hitherto, it is not clear the kind of products Samsung intends to produce. But according to South Korean media reports, the mobile developer is teaming up with TSMC. The latter is a Taiwanese firm. TSMC is currently supplying chips to many firms whose main business is to mine digital coins. One of the companies that enjoy the chips from TSMC is Bitmain, which is the kind of business Samsung wants to do.

Previous News Article: Las Vegas MGM Casino Resorts Hike Increase Fees In All Its Facilities

Las Vegas MGM Casino Resorts Hike Increase Fees In All Its Facilities

Las Vegas MGM Casino Resorts Hike Increase Fees

Las Vegas MGM Casino Resorts Hike Increase Fees In All Its Facilities.Beginning Wednesday, January 31, 2018, you will pay an additional fee to park your car, which will take place at all MGM Resorts. Whether you are in Las Vegas or anywhere else where there is an MGM property. So, all the 11 casinos at the Strip start to charge different parking fee on Wednesday. You must know that the parking fee for all the 11 resorts is separate. According to MGM Resorts, the eleven facilities have three categories. There are those company calls ‘core’ and ‘luxury.’ There is yet another category, which MGM Resorts calls ultra-luxury.

Why Is Las Vegas MGM Casino Resorts Increasing Fees?

On the last category, the most expensive in parking, only a few facilities make it. In this class, you can find Vdara, Bellagio, and Aria. Excalibur, Circus Circus, and Luxor are what MGM call core properties. Above all, this means that if you want to visit MGM Resorts properties with low parking fees, you will choose this section. With the classification of their properties, it is easy to see an increase in the number of guests. Many people who prefer MGM properties will go to ‘core’ facilities where the parking fee is relatively low.
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Self Parking Remains Free

Interestingly, self-parking under one hour remains free in all MGM properties. Following the parking fee readjustment, MGM Resorts gives a statement. In the report, the management assures visitors that it is considering many things. In other words, by raising parking fees, the administration is not burdening visitors. “Occasional parking rate adjustments are necessary. We are also fine-tuning the staff, maintenance and equipment to meet guest expectations,” MGM says.

1st To Introduce Parking Fees On The Las Vegas Strip

For many years, self and valet parking is free for all clients in the Las Vegas Strip. But all these changes in 2016. MGM Resorts is the first one to introduce parking fees on the Strip. Other facilities follow suit soon. Caesars’ resorts are the second to start charging visitors. But it is not the last one. Wynn Resorts is the third. Afterward, several other hotels also introduce parking fees. In April 2017, MGM Resort raises its parking fees for the first time. During this initial parking fee rise, the us casino does not give any explanation.

This time, the management says that it is raising the fees for a reason. MGM says that it is using the additional parking fee to improve the parking lot. Besides, the casino company says that the remaining lot goes to the construction of a garage. MGM is currently building a 3, 000-space garage near its Excalibur facility.

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Free Parking

With the parking fee increase on MGM facilities, many people wonder if they will find any free parking. Well, there is free parking on the Las Vegas Strip. But you have to look around. Currently, there are a few facilities that still offer free parking. Visitors can pull to Palazzo Resorts and Fashion Show Mall. You can also find free parking on the Sands Venetian. After the parking fee rise statement by the MGM Resorts, many people are raising negative comments. Many people say that after the October 1 shooting, they cry with facilities. Four months later, the same resorts are pleading for clients. It is an unfortunate strategy when facilities plead for clients only to raise parking fees.

Previous News Article: Where Can I Play Games Using Bitcoin Cash?

It Is Now Possible To Play Bitcoin Cash Games And Playing For Them Using BCH Thanks To Roger Ver

Where Can I Play Games Using Bitcoin Cash?

Have You Been Wondering Where You Can Play Games Using Bitcoin Cash Or Any Cryptocurrency? Roger Ver, a distinguished cryptocurrency advocate, is making things easy for BCH users. The entrepreneur set up an online gambling site. Also, this is not just an ordinary site. You can play Bitcoin Cash games on this site. There are very few bitcoin cash casinos In the world. Many online casinos that accept digital coins usually use bitcoin. But when Roger launches his site with the BCH on board, it is good news. Now, a player who prefers Bitcoin Cash as a means of payment is free to do so. Check out the article Where Can I Play Real Money Casino Games With Bitcoin Cash? over here

What Are The Best Online Casinos Accepting Bitcoin Cash?

If you have been asking yourself what the best online casino that accepts digital currency like Bitcoin Cash, Slotocash is a good choice.

Now that Ver’s site is out, BCH wagering is at the next level. But this is not the first time digital currencies are launching games. In September 2017, Bitcoin.com launches Bitcoin Games. The September launch of Bitcoin Games opens the way for an online casino. But the platform utilizes the old legacy of Segwit Bitcoin. Above all, this is the same platform that is now compatible variation with Bitcoin Cash Games.
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Players Have A Much Lower Fee With $BCH

The good news about this new launch is that players can have the experience at a very lower fee. Regarding the new launch, Ver says that it is a good thing. “The BCH network and currency have proven itself to be reliable. Above all, this also offers transaction fees that are so cheap ($0.01 or even less). It is fair to say that they are practically non-existent,” Ver says.

Real Money Casino Games On The Platform

The game palette on the Bitcoin Cash games gives a chance to play a variety of real money casino games. Are you a fan of poker and craps? You will get a chance to play these games. As you can see, the fee is almost zero. Other games on the palette are dice, roulette, blackjack, keno, and of course online slots. Each of the games on this palette comes with an RTP of 99 percent. No other platform can give you such a return to a player percentage. What is more, this platform awards players? If you enlist a new player in the system, there is a huge prize. The platform gives you 25 percent of the house edge for each player you enlist.

native Android Mobile App

It seems that this platform has many good things. For instance, use the platform’s native Android mobile app. You will realize that it is entirely anonymous. As such, you do not require any registration to take part in the play. But all is not smooth to all punters. The U.S. federal government does not allow mobile phone gambling. The paranoid regulatory environment does not give players who live in it to enjoy. For many years, Ver shows his Bitcoin advocacy publicly. His love for the red-hot coin is so strong to warrant the nickname.

BTC Bondage

His love for the traditional digital coin does not fade away. This is even after the mushrooming of hundreds of other alternatives. In recent years though, he is adding his voice in the advocacy BTC namesake BCH. He also gets a new name ‘Bitcoin Moses’ because he takes people from BTC bondage. In the end, he successfully delivers them to now Bitcoin Cash games.

So, It Is Now Possible To Play Bitcoin Cash Games And Playing For Them Using BCH Thanks To Roger Ver? Well, it seems like that specific casino is not available anymore or may have moved. Also, many online casinos started allowing their players to play the best online casino games using Bitcoin Cash. While Bitcoin Cash and other cryptos are in a bear market, it doesn’t seem to stop gamblers from using BCH or other altcoins for deposits and withdrawals.

Previous News Article: Washington State Wants To know Whether Loot Boxes Are Gambling

Washington State Wants To know Whether Loot Boxes Are Gambling

Washington State Are Loot Boxes Real Money Gambling

The State of Washington is limbo regarding loot boxes. The State Senator Kevin Ranker is asking the Gambling Commission to answer. Kevin is asking the State’s Gambling Commission to come out clear on the matter. According to the Senator, loot boxes are predatory to children. According to many, a loot box is a consumable part of the game. It is a chest that gives a player more chances to win more items virtually. See How the Real Money Gaming Industry Defends Loot Boxes Against Gambling Claims.

Are Loot Boxes Considered Real Money Gambling?

Most importantly, this is not the first time loot boxes are emerging in the state. They are here for some time. They are intricate in that many people do not know how they work. Those who understand a loot box, however, see that it is a device. Its main work is to monetize mobile freemium. They are common in monetizing social games. But at the same time, they can act as compulsory. In the end, loot boxes engage players throughout the day. Many players who choose to take part in these types of games often use a lot of money.

Why Does Washington State Care?

These boxes are indeed a paradox to unlock. Many people have mixed reactions when it comes to what they are. But it is good to know that they are highly addictive. Besides, they have an element of chance. Because of their characteristics, many people say they are not different from slot machines. Also, this is certainly worrying lawmakers and regulators. Even more, their proliferation among other major video releases is a cause of concern. For these reasons, Washington State Senator feels that they can be real money gambling devices. He is not alone with the same feeling. Many other politicians are also saying that the commission should look into the matter.

Star Wars Battlefront 2, and Middle Earth: Shadow of War

On the issue of proliferation, recent releases have boxes in them. For instance, there are three perfect examples of video slots that incorporate loot boxes. Examples of the latest releases are Star Wars Battlefront 2, and Middle Earth: Shadow of War. These new games require that gamers make micro-transactions. Also, this happens even as they are giving $60 to buy the game.

Because of such characteristics that are hard to see, regulators are raising concerns. They argue that it is hard for children to tell the difference. What difference are they supposed to say? Children are supposed to tell the difference between gaming and gambling.

What Is The Difference Between Gaming And Gambling?

If there is no state involvement, no one can say that a loot box is gambling. But now that there is a stake, regulators feel that it is time to change the definition. In a press statement, the senator says that it will be wrong if nothing will take place. He expresses concern that something is wrong somewhere. He even reminds the commission of what the law says.

“What the bill says is, ‘Industry, state: sit down to figure out the best way to regulate this. It is unacceptable to be targeting our children. You can’t focus them with predatory gambling by masking it in a game with dancing bunnies or something,” the Senator says. For a long time, loot boxes are just games. But many people question their definition.

Whether loot boxes are considered real money gambling is highly debatable. According to our research, it appears that loot boxes have become regulated under gambling laws in specific countries. For example, loot boxes appear to be are real money gambling in Belguim, The Isle Of Man, Belgium, The Netherlands, Australia, Japan, and China. Having said that, it appears that gambling regulators may be investigating loot boxes in other countries.

If you are not familiar with what a loot box is, it is referred to as a prize or loot crate when playing regular video games. However, this virtual item is avaiable for purchase and sometimes can be redeemed when you level up in a game. Some examples of loot boxes are changing your avatar and buying body armor and weapons in games. For video game companies, they are a great thing because they offer an additional revenue stream beside buying or renting the actual game or app.