UK Launches Cryptocurrency Task Force
On the 22nd of March, Phillip Hammond, UK’s Finance Minister announced the start of a cryptocurrency asset task force, and other fintech initiatives from the government. The cryptocurrency task force includes cooperation from Britain’s central bank, the Bank of England, and the Financial Conduct Authority. The entities involved will help provide regulatory oversight to the growing cryptocurrency market in the UK.
Cryptocurrency Exchange Binance Faces Regulatory Pressure in Japan
In Japan, the country’s leading securities regulators issued a warning to Binance that it must stop its operations in the country without a license; it may face penalties and enforcement action. Nikkei reports that Japan’s Financial Services Agency (FSA) will issue a warning to Binance, which has started its expansion into Japanese markets without permission or authority from the regulator.
South Korea To Investigate Banks in Cryptocurrency-Linked AML Clampdown
South Korea’s regulators issued a statement on Wednesday that they would investigate the operations of local banks and cryptocurrency exchanges for compliance with anti-money laundering laws. The inspection of exchanges and bank will be carried out by the Financial Intelligence Unit and the Financial Supervisory Commission – both entities will ask for information about corporate accounts of cryptocurrency exchanges.
Cryptocurrency mining malware uses the five-year-old vulnerability to mine Monero on Linux servers
The exploit was initially discovered by researchers at Trend Micro and has been ongoing in countries like Japan, Taiwan, China, and the United States.
Trump Bans Venezuelan Cryptocurrency Petro
President Donald Trump issued an executive order for the ban on Venezuelan’s cryptocurrency, the Petro. This order applies to United States citizens as well as any other individuals in the US.
The executive order by Donald Trump is the oil-backed cryptocurrency launched by Venezuela in February this year, which intends to gain capital in the midst of its ongoing economic crisis.
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