GMO Internet Reports Cryptocurrency Exchange Profit Rose Over 34% in Q3 2018

GMO Internet, the Japanese technology and online finance conglomerate, presented its results for the third quarter of fiscal 2018 on Nov. 12. The presentation included new details about the performance of the Tokyo-listed group’s cryptocurrency-related businesses. Also Read: The Daily: US Museum to Accept Bitcoin, Estonia Grants License to B2BX Exchange Record Performance by Quarter The presentation covers the operations of GMO Internet in cryptocurrency mining, exchange and payments. The company reported total quarterly revenue of 2.61 billion yen ($22.93 million) in the third quarter. It noted that the positive…

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South Korea’s Upbit to Launch Crypto Exchanges in Thailand and Indonesia

South Korean cryptocurrency exchange Upbit has reportedly started marketing new crypto exchanges in Thailand and Indonesia as part of its global expansion plans. The company recently launched an exchange in Singapore. Over 130 coins and 240 trading pairs will be offered on both of the new Upbit exchanges, according to their websites. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Latest Expansion Plan Upbit, one of South Korea’s largest cryptocurrency exchanges, has been marketing new crypto exchanges in Thailand and Indonesia in their local languages, according to local media.…

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Electroneum (ETN) will take off sooner rather than later

Electroneum’s ETN cryptocurrency had a good week the week before last week. It kept rising all week long so it was expected that it would adjust downwards at some point, which is what’s been happening in the last couple of days. It’s been losing value moderately, as all crypto coins have. The trend is headed by Bitcoin, as usual. Let’s not forget that almost every cryptocurrency is pegged to Bitcoin in some way because most of them are paired with it in exchanges, so when Bitcoin goes down, most other…

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Vietnam at Crossroads on Cryptocurrency Regulations

Vietnamese authorities are still considering their approach to regulating the cryptocurrency space. The Ministry of Justice has put forward several alternative solutions and the Ministry of Industry and Trade has expressed its opposition to the ban on imports of mining equipment. Also read: Uzbekistan Sets up International Arbitration Center for Crypto Businesses Justice Ministry Reports on Regulatory Approaches Vietnam’s Ministry of Justice has submitted а report to the government in Hanoi that contains a review of the current legislation and an assessment of cryptocurrency-related business activities in the country. The…

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The Daily: Shatner Dives Deep Into Crypto, Bank to Launch Digital Deposit Box

In today’s edition of The Daily, we feature a story about William Shatner flaunting his vast crypto knowledge, from Tether to Kitties. Additionally covered are a bank which wants to offer a digital deposit box for exchanges and investment funds, a new development in the Charlie Shrem lawsuit and more. Also Read: Marshall Islands President Attacked Over National Crypto Plan Tether Blows Captain Kirk’s Mind William Shatner, the original Captain Kirk, wants you to know that he knows his crypto. After admitting back in June that he doesn’t fully understand…

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Iran Completes Development of Rial-Supported National Cryptocurrency

Iran has finalized the development of its national cryptocurrency, which is backed by the local fiat unit, the rial. Once the Central Bank of Iran (CBI) approves its use, the yet-to-be-named digital currency will then be issued to banking institutions for testing in payments, internal and interbank settlements according to local media reports. Also Read: Bahamas Releases Discussion Paper on Crypto-Assets Regulation Banks to Be Granted State Digital Currency Speaking to Ibena, an Iranian news agency affiliated with the country’s central bank, chief executive officer of Informatics Services Corporation (ISC) Seyyed…

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Bahamas Releases Discussion Paper on Crypto-Asset Regulation

The Central Bank of The Bahamas (CBOB) has released a discussion paper proposing how it intends to regulate digital assets. This includes initial coin offerings as part of efforts to eliminate the alleged threat of tax evasion, fraud and money laundering. However, when regulation eventually comes, it is likely that only a state-issued cryptocurrency will be supported. Also Read: Nigerian Startups Call for Cryptocurrency Regulation to Stem Investment Outflows Only State-Sanctioned Digital Assets Likely to Be Allowed “The bank seeks to enhance the sector’s competitiveness without compromising the integrity or international…

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Uzbekistan Sets up International Arbitration Center for Crypto Businesses

Following in the footsteps of Russia, Uzbekistan has announced plans to implement arbitration mechanisms to resolve disputes in the cryptocurrency space. A new presidential decree mandates the establishment of a body of arbitrators that will deal with cases involving entities from various jurisdictions.  Also read: Growing Number of Crypto Companies Operating From Belarus Arbitrators to Resolve Disputes Under National and Foreign Law Tashkent International Arbitration Center (TIAC) will operate under the Chamber of Commerce and Industry of Uzbekistan. According to the document signed by President Shavkat Mirziyoyev, the platform will…

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Growing Number of Crypto Companies Operating From Belarus

A number of cryptocurrency businesses are now based in the Belarus Hi-Tech Park after the government in Minsk legalized crypto-related activities for its residents. Registering an entity in the special economic zone was supposed to be a straightforward process, but clearer guidelines and detailed regulations are still needed to attract more investors. Also read: Huobi Opens Office in Russia, Plans Startup Accelerator and Mining Hotels Almost 400 HTP Residents Less than eight months after President Lukashenko’s Decree №8 entered into force, the number of companies registered in the Belarus High…

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‘Asia’s Amazon’ Starts Using Bithumb’s Payment Service for Cryptocurrency Users

One of South Korea’s largest cryptocurrency exchanges, Bithumb, has begun providing a cryptocurrency payment service to a major online marketplace it refers to as “Asia’s Amazon.” Korean users can use their cryptocurrencies held at the exchange to pay for purchases on Qoo10 using this service. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Qoo10 Partners With Bithumb South Korean cryptocurrency exchange Bithumb announced on Wednesday the launch of its “cryptocurrency payment service” for major online shopping marketplace Qoo10, which it referred to as “Asia’s Amazon.” The two companies signed…

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