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Hawaii To Force Cryptocurrency Traders To Have A License

Hawaii Forces Cryptocurrency Traders To Have Licenses

Different governments around the world are working hard to impose rules to govern the Bitcoin. Many of them have managed to come up with strict rules. Now, they control not only the bitcoin but also the trade of cryptocurrency. Some of the countries that have managed to come up with the laws are South Korea and China. As of S. Korea, the government announced about a month ago that it was going to impose the rules, which prepared various exchanges that were now aware of the strict rules.

Why Is The State Of Hawaii Forcing Cryptocurrency Traders To Be Licensed?

When the rules finally came into effect, it wasn’t hard for exchanges to accept. However, it is going to take some time before exchanges fully adapt to the new regulations. China, on the other hand, is extreme. Authorities in China entirely banned the use of cryptocurrency in the country. It is against the law to engage in the trade of cryptocurrency in China. If found you will be prosecuted under the law. It is on this note that the U.S. State of Hawaii, unlike Washington State , is planning to introduce its regulation.

The Money Transmitters Act

The state’s bureaucrats are looking into means and ways they will introduce their controls on digital coins. The elite in the state feel optimistic and believe that it is possible to do so. Recently, a group of legislators from the state presented a bill. In it, they seek the state to consider cryptocurrencies as monetary instruments. If this is finally assumed and seen appropriate, then digital coins will use the same law as other currencies. That means, they will be under the Money Transmitters Act.

Bitcoin, $BCH.X And Other Cryptocurrencies Must Apply For A License?

For one to engage in the business, therefore, they would be needed to hold a license. In the end, they will be entitled to pay tax to the state just like other monetary transmitters. Additionally, this would mean that holder of digital currency accounts will have to register their accounts. The bill, which has been dubbed SB3082 is likely to cause a mixed reaction among members them, residents. If the bill is passed, it is evident that anyone interested to deal with Bitcoin, Bitcoin Cash or any other cryptocurrency must apply for a license.

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· Where Can I Play Games Using Bitcoin Cash?

When Will Hawaii Force Cryptocurrency Traders To Have Get A License?

The same proposed bill will also nullify the previous requirements. Earlier, it was mandatory for those with the license to hold reserve funds. What is more, one has to input a lot of personal information on the license application sheet. Some of the things required will be full names, prior criminal convictions if any. There will also be detailed business descriptions among a notable of things. If you qualify to run a bitcoin cryptocurrency exchange, you’ll be notified.

Hawaii has never been keen on cryptocurrency or gambling for that matter. So, Why Did Hawaii Say Aloha to Cryptocurrencies? Coinbase has officially left the state of Hawaii, which leaves residents with a few options. They can stop trading cryptocurrency on Coinbase, move to another platform or use a Virtual Private Network (VPN) to buy and sell crypto on Coinbase.

This news may come as a surprise to some folks but if you have been staying up-to-date with the latest news, you may remember that Coinbase stated they were leaving Hawaii in May 2017.

Previous News Article: AMD Plans To Increase Production Of Graphics Cards To Meet Cryptocurrency Mining Demands

AMD Plans To Increase Production Of Graphics Cards To Meet Cryptocurrency Mining Demands

AMD Graphics Cards Meet Cryptocurrency Mining Demands | Crypto News

Advanced Micro Devices has announced that it is going to increase GPU production. The reason for the increased production of graphics cards is to meet the demand? Bitcoin Mining is growing fast. Currently, many startups are on the market. Because of this, AMD does not want to let her clients down. As you well know, the company is also making money when it creates new GPUs. For now, it is hard to say where the recently-developed RX Vega GPUs are. The truth is that they have disappeared from the shelves. Have they been stolen? The answer is no!

Why Does AMD Want To Develop Graphics Cards To Meet Cryptocurrency Mining Demands?

The devices have virtually disappeared. Thanks to many startups, the few tools that were created have been consumed by the ready market. It is for this reason that AMD wants to embark on the creation of more of such devices. The company says that revenue from the graphics section has grown tremendously. In fact, the company says that revenue has increased to over a billion dollars. That is after doing the business for a short time. The company precisely means that the over a billion dollars it has received in the last quarter of 2017.

Wants To Satisfy Gamers And Bitcoin Miners

Upon realizing the shortage, AMD says that it will move with swift to satisfy its direct clients, the miners, and real money casino gamers. Skyrocketing prices and the ever-increasing demands for the digital coin is creating a huge discrepancy. AMD says that now than ever, many people are interested in digital currency investment. Because of this, mining is among the major ways in which people get the Bitcoin. It is evident that there is need to develop more GPUs. It was recently when Nvidia, which is AMD’s main competitor acknowledged that there is an acute shortage of gadgets. AMD also said that its Radeon cards, which are the primary components in GPUs are out of stock.

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· More Japanese Develop Interest In Cryptocurrency After Recent Exchange Hack

· Bitcoin Cash Is The Original Blockchain, Says U.S. Agency

When Will AMD Graphics Cards Be Ready For Cryptocurrency Mining?

The company is now promising to increase production. Through its CEO, the company says that it will ensure all its clients are taken care of without compromising on quality. “The graphics channel is shallow. But we are certainly working to replenish that environment. For now, we are aware that the availability of graphics cards is “lower than we would like it to be,” said CEO Dr. Lisa Su. The CEO’s latest statement is different from what she said last fall. During that time the CEO said that the demand was starting to level off. That meant that the number of Bitcoin mining GPUs in stock was more than enough.

AMD or Advanced Micro Devices, Inc has had a great year in 2018. It starts of trading a little over ten dollars per share earlier in the year. After Mad Money’s Jim Cramer gives his stamp of approval on the stock in his Action Alerts Plus stock newsletter, Advanced Micro Devices soars to almost thirty dollars per share.

While some folks say this is not the largest gain in the stock market for 2018(and they are right), the $AMD stock was a profitable investment for many other investors to the point where they more than doubled their money in less than one year. That’s right, doubling your money in less than one year outperforms most of the hedge funds on wall street. Since 2018 was a bad year for cryptocurrency, Bitcoin including, we don’t know when AMD will be ready for Bitcoin mining.

Previous News Article: Nigerian Senate Launches Investigation Into Cryptocurrency Trade In The Country

Nigerian Senate Launches Investigation Into Cryptocurrency Trade In The Country

Nigerian Senate Launches Investigation Into Cryptocurrency Trade | Crypto Gaming

Nigeria, a western African nation is one of the fresh markets of the Bitcoin. The cryptocurrency trade is slowly gaining momentum in the country. Many people now know what the bitcoin is and other altcoins . As things are, authorities have also heard about this, which is what has prompted the country’s Senate to take action. As we speak, Nigerian Senate wants to know if there is digital currency trade in the country. The only way to do so is to initiate an investigation into the business.

Why Is The Nigerian Senate Investigating The Cryptocurrency Trade?

The Upper House has swiftly moved to ask a relevant House committee to conduct an investigation. The Committee of Banking and Other Financial Institutions received 14 to hold the probe. When issuing the order in behalf of the Senate, Deputy Senate President Ike Ekweremadu said the committee should do fast. “The work of the committee is to investigate the viability of bitcoin as a form of investment. The committee will also come up with recommendations on how to control its uses and trade,” said Ike.

Vigorous Anti-Bitcoin Campaigns By Central Bank of Nigeria (CBN)

The Senate also asked three state agencies to launch a campaign. The campaign aims to enlighten people on the risks involved in the investment of the Bitcoin. Some of the agencies that were tasked with the vigorous anti-bitcoin campaigns are Central Bank of Nigeria (CBN). The other two agencies are Nigerian Stock Exchange (NSE) , and Nigeria Deposit Insurance Corporation (NDIC) . The Senate further ordered these institutions to issue clear statements. The statements aim to ensure that they are as transparent as possible. The comments need to be in all available dialects. They need to be understood by all able thinking people.

Every Nigerian Should Be Careful About Digital Currency Investment?

Senate is voicing the investigation following CBN Governor’s last week message. Mr. Godwin Emefiele said last week that every Nigerian should be careful about cryptocurrency investment. “Cryptocurrency or bitcoin is a gamble. Because of this, there is a need for everybody to be very careful,” said Godwin. Nigerian market is more decentralized than any other in the region, which will evidently make it difficult for those who want to control digital currency trade.

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· Many Of The Neo ICOs Have A Bad Start

· We Don’t Have Any Big Problem With The Bitcoin So Far-Bank Of Japan?

· The Republic Of South Korea Ends Anonymous Cryptocurrency Trade

· It Is Now Easy To Track Your ‘Online Misconduct’ Digital Currency

· Bitcoin Will Hit $50, 000 In 2018 Thanks To Monte Carlo Random Walks

How Long Will The Nigerian Senate Continue To Investigate The Cryptocurrency Trade

With this in mind, Nigeria is more resilient towards outside influence. If there is digital currency trade in Nigeria, then it is possible for it to thrive without interference. The question of cryptocurrency trade is coming at a time the international price of the Bitcoin is at trading at its lowest of $5,400.

Previous News Article: More Japanese Develop Interest In Cryptocurrency After Recent Exchange Hack

More Japanese Develop Interest In Cryptocurrency After Recent Exchange Hack

Japanese Develop Interest In Cryptocurrency After Recent Exchange Hack

Coincheck, a notable Japanese Bitcoin cryptocurrency exchange was hacked two weeks ago. With the hack and the loss of billions of yen, it is possible to lose hope. At least, this is expected from the general public. But this is not what happens. Instead of shying off, or fearing to invest, many Japanese have developed immense interest. Although we do not see Coincheck in the limelight, there is good news. Bitflyer, another Japan-based cryptocurrency exchange is recording massive volumes of new signups, which is a clear indication that the general public is not deterred from digital coin investment.

Why Are Japanese Investors Interested In Cryptocurrency After Hack?

An executive of the exchange said that the impact has been seen especially after the hacking incident. “Ironically, many people got interested in cryptocurrencies after this incident,” the executive said.In a recent hack, Coincheck, a renowned cryptocurrency exchange was hacked. The hackers used ingenious means to steal money from investors. According to the exchange, the hacker, who has not been identified, made it to the system. He was able to replace the system’s address with his. That is how easy he managed to take clients’ 58 billion yen ($530 million) worth of NEM.

Japanese Financial Services Agency (JFSA)

The exchange has so far said that it is going to repay it’s 260, 000 customers. But the exchange has not elaborated how it is going to repay and until when. While this is happening, five lawyers are preparing the lawsuit. Following the hack, Japanese Financial Services Agency (JFSA) issued a business improvement order. The order was issued early last week to Coincheck. The order aims to ensure that the company is adhering to all security protocols.

The Agency Will Conduct A Security Probe

Meanwhile, the agency has also written to all cryptocurrency exchanges. Letters to these companies were dispatched with orders to allow agents from the agency to conduct security probe. On Friday, the agency, with the help of the Tokyo Police launched investigations into the successful hack. The agency conducted an on-site investigation.

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· After Paying People To Write On Their Bodies, A Vegetable On The Blockchain Startup Exits The Market

· Tether Says Goodbye To Its Auditor, Not In The News For Weeks

· Where Can I Play Games Using Bitcoin Cash?

· Many Of The Neo ICOs Have A Bad Start

· Coinbase.com Makes $2.7 Million Each Day

· The Republic Of South Korea Ends Anonymous Cryptocurrency Trade

· It Is Now Easy To Track Your ‘Online Misconduct’ Digital Currency

· Bitcoin Will Hit $50, 000 In 2018 Thanks To Monte Carlo Random Walks

· Hacking Rumors Lead To Coincheck Halting Operations, $723 Million Withdrawn

· Malta Extends The Area Of Proposed Digital Currency Regulations

· England’s Premier League Side Arsenal FC Partners With CashBet

· Cryptocurrencies Prices Are Regaining After Weeks Of Lows

Bank Of Japan Asks Exchanges To Enhance Security

According to Japan Times, the Governor of the Bank of Japan asked exchanges to enhance the security of their companies. The governor says that it is a sad thing for a big company like Coincheck to be hacked and lose billions of clients’ money within a short period. Mr. Haruhiko Kuroda told Japan Times on Thursday that it is the right thing for exchanges to do so. “If you are handling people’s money, you must enhance security. It is an unfortunate this for a hack to happen. But it is also very unfortunate for a big company to suffer this big loss,” the Governor said.

Previous News Article: Bitcoin Cash Is The Original Blockchain, Says U.S. Agency

Bitcoin Cash Is The Original Blockchain, Says U.S. Agency

Bitcoin Cash Is The Original Blockchain | U.S. Agency Says

It may have been the name SegWit is what later changed to be BTC or somehow there is a relationship. However, scientists at the National Institute of Standard and Technology (NIST) now say something different. The scientists say that the original Blockchain belongs to Bitcoin Cash (BCH) not Bitcoin ($BTC) . This is the latest cryptocurrency news. In its attempt to make the world understand, NIST, a non-regulatory agency has published a report. This information is contained in a 59-page draft.

How Is Bitcoin Cash Is The Original Blockchain?

The aim of the draft is to explain fully, the real cryptocurrency that should take pride in the blockchain. NIST has given the report a nice title. “Interagency Report: Blockchain Technology Overview,” that is the title of the document. After the title, the document briefly discussed some of the basic concepts of the blockchain. Some of the things discussed in this summary include blockchain architecture, consensus, and smart contracts. Other things that are covered here are hard forks and permissions versus permissionless.

Nik Roby Of The G2 And Karen Scarfone of Scarfone Cybersecurity?

This report was written by Dylan Yaga and Peter Mell. There are other two members who also helped in the penning down of this document. The other two guys are Nik Roby of the G2 and Karen Scarfone of Scarfone Cybersecurity. One thing you will realize from the report is the high-level and straightforward reporting. The tough concepts have been analyzed using the most basic terminologies available.

Here is a part of the report.

“In July 2017, approximately 80 to 90 percent of the Bitcoin computing power voted to incorporate Segregated Witness (SegWit). During this time, transactions were split into two segments: transactional data and signature data). This made it possible to reduce the amount of data being verified in each block. Signature data can account for up to 65 percent of a transaction block, so a change in how signatures are implemented could be useful. When SegWit was activated, it caused a hard fork. At the same time, all the mining nodes and users who did not want to change started calling the original Bitcoin blockchain Bitcoin Cash (BCC),” the report read.

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Bitcoin is a fork and Bitcoin Cash is the original blockchain

The document went ahead to highlight its findings before actually hitting the conclusion. “Technically, Bitcoin is a fork and Bitcoin Cash is the original blockchain. When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash,” the report says in part. With this high-end report out, it is a wait and see what the traditional cryptocurrency, Bitcoin, says.

While it may serve as a benefit to say Bitcoin Cash Is The Original Blockchain from official U.S. Agencies, we don’t buy into that concept. Out of all of the altcoins and cryptocurrencies, Bitcoin Core ($BTC) is the original blockchain. If you are not familiar, other cryptos like Litecoin and Ehtereum have faster processing times and use similar technology to the blockchain. Having said that, the notion that Bitcoin Cash is the original blockchain is preposterous. Bitcoin Cash came about many years after Bitcoin Core was released.

Previous News Article: Bitcoinj.cash Is Still Alive And Functional

Bitcoinj.cash Is Still Alive And Functional

Bitcoinj.cash Is Alive And Functional | Crypto Gaming News

Since this article was posted, Bitcoinj.cash forwards to https://github.com/bitcoinj-cash/bitcoinj . On the top right-hand side of the site it says bitcoinj-cash/bitcoinj forked from bitcoinj/bitcoinj. If you are not familiar with Github, it serves as the home to almost thirty million software developers that can collaborate projects, review source code and even build software platform and programs working together. This Github page says that this branch offers one hundred ninety-six commits ahead of the three hundred twenty-four commits from the bitcoinj:master. Last Updated December 5, 2018, By Arnold Mcarthy Of EasyMobileCasino.com. Now, this is from the original news article.

Bitcoin is growing. Drawing that conclusion is easy. For several months now, the price of this cryptocurrency is going up. It is true that things are not right this week. But this does not mean that the red-hot coin is suffering. Remember that since its start in 2009, the price of the bitcoin has gradually surged. In 2017 for instance, Bitcoin hit its all-time highest, which was big news, especially for its investors. Following the sale in late December, many people now rush to open accounts with the Altcoin . As a result, bitcoin is making tremendous progress. As you are aware, this is not news to governments and various state agencies. These are the owners of legal tenders. They feel that the competition is not healthy. As such, they are coming up with tough rules. Some of the rules sound as if they are after the complete ban of the digital coin.

How Is Bitcoinj.cash Still Alive And Functional?

Nonetheless, what is making this traditional digital coin make these considerable strides in spite of opposition? Many factors have contributed. Mainstream media coverage is chief among them. So many major media house has spoken well about the bitcoin in the past. They continue to talk even now.

A vast number of renowned financial writers have taken their time. In the end, they have done the research and written their opinions on important world journals. These write-ups have been shared to millions of readers. But there is something that is not getting the much-needed attention, which is Bitcoinj.cash, which is a Java library. It is used together with the Bitcoin protocol, which Java library was conceived and created by Mike Hearn . Wait a minute, who is this man?

Who Is Mike Hearn?

Mike Hearn is one of the original Bitcoin developers. He has the ability to code within the blockchain operating system. The guy understands the economic incentive of the bitcoin and how it works. Bitcoinj.cash is also the very first traditional coin’s implementation whose objective was to target Simple Payment Verification. In this SPV light wallet functionality, only a small section of the blockchain is downloaded. This will then enable all small devices to be used in doing the transactions. The main target thus is tablets and mobile phones.

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So, nobody will ever say that Bitcoinj.cash does not exist. Note that, if it never existed, there is no way investors would use their portable devices to access their bitcoin accounts. They would not access their cryptocurrency accounts.

Previous News Article: After Paying People To Write On Their Bodies, A Vegetable On The Blockchain Startup Exits The Market

After Paying People To Write On Their Bodies, A Vegetable On The Blockchain Startup Exits The Market

A Vegetable On The Blockchain Startup Exits The Market | Cryptocurrency News

The word of cryptocurrency business is funny. It is full of good, juicy, and at times bad stories. You might wake up to an ICO starting up. The following day, you read in the news of how a particular major exchange is making lots of revenue each year. Still, you may read in the same journal of how a certain digital coin startup or a cryptocurrency miner is using the heat to produce vegetables. These are juicy stories. They are interesting, and everybody wants to hear such stories. But there are also sad incidents. An example of such an event is when you read that a specific reputable digital currency platform was hacked. In the process, millions of shillings were lost.

Why Did The Blockchain Startup Exit The Cryptocurrency Market?

These are just some of the news you are likely to read regarding digital currencies. But there are other incidents though. Prodeum, a new startup that claimed to revolutionize the world of cryptocurrency has gone offline. The company went offline on Sunday. When it did, there was no note left behind. In many cases, when a site goes offline, it is either to work of an upgrade or even a temporal technical hitch. Whenever there is a hack or something like that, at least the company communicates. Communicating through the site may be hard.

Prodeum Scam And Tech Issues?

But there are social media platforms. The company can decide to use these platforms to communicate to its clients about the hack, scam, technical issue or even an upgrade. Sadly, Prodeum did not do any of these. Instead, the company went ahead to delete its entire social media accounts. They were eliminated as if they never existed in the first place. Imagine how devastating that can be. The site is down, the social media platforms have been deleted, and now, there is no communication.

· Bitcoin Will Hit $50, 000 In 2018 Thanks To Monte Carlo Random Walks

· Hacking Rumors Lead To Coincheck Halting Operations, $723 Million Withdrawn

This cryptocurrency company even claimed to have arranged for trial sessions in the U.S and Lithuania. It is now off the market.

Startup Using Ethereum blockchain technology?

What is funny, the startup is doing all these after it paid people to write on their bodies. How much does the world know about Prodeum? According to the company’s press release, this was a startup that was based in Lithuania. The aim of the company, as per the press release, was to revolutionize the fruit and vegetable industry. The startup would use Ethereum blockchain technology. During the time of talking to the press, the company claimed that it had already initiated discussions with IFPS. Discussions with the International Federation for Produce Standards were to help the startup have the legal rights to perform their functions.

So, is blockchain technology the new Internet? Well, not really but many people ask the same question. If you are wondering “What is Blockchain Technology”, we will try to explain it to you in simple terms. Have you ever heard of Bitcoin? Blockchain technology is the system that processes and verifies Bitcoins transactions. Actually, there are thousands of smaller cryptocurrencies that use Blockchain technology to process and verify their transactions. These smaller cryptos are known as altcoins or alternative coins.

Originally blockchain was referred to as block chain because its purpose was to grow, process and verify records and transactions in “Blocks”. These blocks link together as a processing and verification process using cryptography. Each block in the Blockchain system has a unique hash or hashblock. These hash blocks serve as a transaction approval and content transaction data, which are represented as merkle tree root hashes.

Previous News Article: Tether Says Goodbye To Its Auditor, Not In The News For Weeks

Tether Says Goodbye To Its Auditor, Not In The News For Weeks

Tether Says Goodbye To Its Auditor | Altcoin News

It is not always a norm for a week to start and end without reading a news piece about Tether. But now, it seems that if you want to hear something great about Tether, you will wait. Is this the nature of cryptocurrency business? Stories going around the web indicate that Tether said goodbye to its auditor. If there is a reason to believe these stories, then we can see who was making the company appear on the news. It is easy to say that after his ‘auditing’ the world would then be told about how Tether is a stable coin. But now that the auditor is not in the light, Tether together with its acolyte Bitfinex is facing lots of challenges.

What Happened With The Tether Altcoin?

For many weeks, cryptocurrency investors and fanatics have been kept waiting. They are now shocked to learn in the last minute that the company’s auditor Friedman LLP is no longer on stage. There are so many stories out there about tethers. Still, there might be people who have not had them. Nonetheless, the story might be retold again. Tethers or tokens that have a fixed value of $1 are widely used in the world. Those who use these tethers know that they are using it as a surrogate fiat currency. It is for this reason that many people who have digital coin wallets use or realize it. Besides, cryptocurrency exchanges use ropes even more.

One Teather Token Does Not Allways Equal 1 USD

What funny is that although Tether is not in the news for some time, most people do not worry. It doesn’t bother many people. Clients and those interested do not have a problem when they hear that Tether and Bitfinex are not in the news. They do not worry because they believe that these two are controlling a major part of the stake. Clients also know that the company is profitable whether the auditor is on board or not.

Rich Cryptocurrencies

Recent reports show that cryptocurrency companies and exchanges are filthy rich. In a recent end-year report, it emerged that Coinbase.com records $1 billion of revenue each year. Binance is also raking over $300 million. On the other hand, Coincheck, a Japan-based exchange, is compensating some $400 million NEM.

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· Samsung Embarks On Developing Cryptocurrency Mining Chips

· Where Can I Play Games Using Bitcoin Cash?

Be Careful With Tether Digital Tokens

What does this mean? It shows that digital currency platforms still hold a lot of money. These companies can repay their clients even if you lose money in one way or another. But it is time cryptocurrency companies to ensure they have the trust of their clients.

Previous News Article: Many Of The Neo ICOs Have A Bad Start

Many Of The Neo ICOs Have A Bad Start

Neo ICOs Have A Bad Start | Cryptocurrency News

The Neo platform came as a good sign. Anybody interested in the cryptocurrency business will tell you that it was a good thing. When the platform launched its Red Pulse ICO in 2017, it was real. It still is. Since then, Neo has been able to accommodate several other ICOs. I fact, according to available data, Neo has been able to provide more than 12 ICOs, which is a clear indication that the initial plan is working on well. A report from Neo says that the 12 ICOs are not the only ones. Another dozen of ICOs is in the pipeline, which gives more evidence of proof that the program is working well.

Why Are The Neo ICOs Having A Bad Start?

Regarding fundraising, these crowd sales are doing a very commendable job. It is from these crowd sales raise millions of dollars. This money will go to various programs.
It doesn’t mean that everything is smooth. There are technical issues. A recent report shows a large number of Neo’s ICOs have been marred by technical problems, which is a big challenge, especially for new startups.

Apex Attack

A perfect example of the technical challenge is Apex. The company reported that its system was hacked. It is true that a hacker managed to hit the system. In the process, the intruder managed to change the websites contribution address. He removed the address and replaced it with his. What was the result? Before the problem was noticed, the hacker had vanished with 1, 056 news. It was after the attack that Apex wrote through its Telegram channel.

Immediately Took Down Website

“A short while after the start of our crowd sale, something stupid happened. Malicious actors were able to take control of our website. They were able to change the correct ICO address. We decided to immediately take down our website and go an alternative route, i.e., post the correct address via our social media (Telegram & Twitter). We also posted a selfie of our CEO showing the correct address time stamped on a piece of paper,” the note said.
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· Hacking Rumors Lead To Coincheck Halting Operations, $723 Million Withdrawn

· Malta Extends The Area Of Proposed Digital Currency Regulations

· England’s Premier League Side Arsenal FC Partners With CashBet

· Cryptocurrencies Prices Are Regaining After Weeks Of Lows

· Coinbase.com Makes $2.7 Million Each Day

· South Korea Adds New Laws For Banks And Cryptocurrency Exchanges

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· Samsung Embarks On Developing Cryptocurrency Mining Chips

· Where Can I Play Games Using Bitcoin Cash?

Millions Of Dollars Stolen

The note continued to say that all contributors whose money had gone to the wrong address will receive their money. “We will make sure that users that have contributed NEO to the wrong address will receive their proper amount of CPX. Only payments made to the specific address in the website will be honored,” the Telegraph post concluded. In recent day, many startups are outsourcing funds for various reasons. One primary goal is to run a cryptocurrency exchange.

Previous News Article: The Republic Of South Korea Ends Anonymous Cryptocurrency Trade

The Republic Of South Korea Ends Anonymous Cryptocurrency Trade

South Korea Ends Anonymous Cryptocurrency Trade

The new cryptocurrency law is effective in South Korea. Whether you are a native or a foreigner, there is no running of an anonymous digital currency account. For one to used or trade in digital currency, he or she must use their real names. When introducing these laws a week ago, the government said that it wants to streamline the sector. The nature of digital currency trade is that you do not know who you are trading with, which is now history in South Korea. You need to use your real name as it appears in government documents.

Why Did South Korea End Anonymous Cryptocurrency Trading?

When speaking about the new system, one official said that this is a milestone. He also said that the new laws would help the government achieve its goal. What is the purpose? By introducing these new rules, to end anonymity in digital accounts, the government had an agenda. Through the Ministry of Finance, the government said that it is part of the effort to stop money laundering business. For many years, the digital coin has been used to launder money outside the country. S. Korea is not the only country that has alleged that digital currency aids in money laundering. China has also raised the same allegations in the past.

Preventing Altcoins From Money Laundering?

Because of the nature of the digital coin, its anonymity nature, it is easy to pay for illegal products. For this reason, in the past, the Bitcoin has been associated with the black market. But now, things have changed. It is not easy to use digital currency to engage in any form of illegal business. It is even hard in South Korea. “The use of anonymous bank accounts in transactions is to prevent virtual coins from being used for money laundering and other illegal activities,” Yonhap reported. According to the latest news from S. Korea, at least six major local banks are taking part in this program. The six banks are Industrial Bank of Korea, Shinhan Bank, and Kookmin Bank.

Some Related News Articles:

· Bitcoin Will Hit $50, 000 In 2018 Thanks To Monte Carlo Random Walks

· Hacking Rumors Lead To Coincheck Halting Operations, $723 Million Withdrawn

· Malta Extends The Area Of Proposed Digital Currency Regulations

· England’s Premier League Side Arsenal FC Partners With CashBet

· Cryptocurrencies Prices Are Regaining After Weeks Of Lows

· Coinbase.com Makes $2.7 Million Each Day

· South Korea Adds New Laws For Banks And Cryptocurrency Exchanges

· Stripe To Stop Accepting Bitcoin Payments

· There’s A Relationship Between Gold And Bitcoin-Analysts

· More Americans Fill Their Digital Wallet With Bitcoin

· Bitcoin Cash Reaching Out For A Deal With Euro

· Bitcoin Cash Casinos Doing Relatively Good This Time

· Altcoins Continue To Tighten The Gap Between The Leading Crypto And Others

· Dogecoin Hits It’s All-Time High At $2 Billion In 2018

· Will The Litecoin Finally Replace The Bitcoin? Here Is The 2018 Dissection

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

· Samsung Embarks On Developing Cryptocurrency Mining Chips

· Where Can I Play Games Using Bitcoin Cash?

No Anonymous Cryptocurrency Trading At Gwangju Bank, Nonghyup Bank, and Hana Bank

The other three are Gwangju Bank, Nonghyup Bank, and Hana Bank. It is expected that several other banks will also start to use the new system. According to the government, all banks and exchanges that run cryptocurrency accounts must use the new law. Last week, the government fined 8 exchanges that did not follow the law. It is also in the same week when the government announced that it has recovered $600 million of illegal cryptocurrency transactions.

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