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Bulgarian Revenue Agency Announces Inspection of Cryptocurrency-Selling Companies

The Bulgarian National Revenue Agency has announced the launch of inspections of cryptocurrency-selling companies. The Bulgarian National Revenue Agency (NRA) has announced the launch of inspections of cryptocurrency-selling companies, English-language Sofia-based news outlet novinite reports on Jan. 14. The objective of the investigation is to assure compliance with tax and social security regulation, as the agency is reportedly worried about the use of crypto-assets for revenue concealment and tax evasion. The Bulgarian RSA reportedly conducted a survey of the companies that own online platforms for the sale and purchase of cryptocurrencies — like cryptocurrency exchanges — and already assigned control actions (which presumably means checks) to nine companies. After the completion of the checks, the tax authority will reportedly use the information obtained from the platform to determine whether the users have declared their income from the use of cryptocurrency exchanges. In Bulgar..

Spanish Securities Regulator Adds 23 Forex and Cryptocurrency Exchanges to Warning...

The Spanish National Securities Market Commission has added 23 unauthorized forex and cryptocurrency entities to its warning list. The Spanish National Securities Market Commission (CNMV) has added 23 unauthorized forex and cryptocurrency entities to its warning list on Jan. 14. Among the companies added to the list is Blonde Bear OÜ, also referred to as Black Parrot Ltd., which claims to be a forex and cryptocurrency exchange operator but reportedly operates in Spain without a license. The company, which operated on the trade111.com and tradex1.com domains, has also been flagged by the Polish Financial Supervision Authority for operating in Poland without the required license. Another company added to the CNMV’s warning list is Dax300, also known as Brown Fox Ltd., for operating in Spain without a license. This company is involved in the trading of contracts for difference (CFD) tracking cryptocurrencies, commodities and forex. As Cointelegraph reported in December last year, Spain w..

Malaysian Cryptocurrency Regulation to Classify Digital Assets, Tokens as Securities

Malaysian cryptocurrency regulation comes into effect on Tuesday, classifying crypto-assets as securities. Malaysian cryptocurrency regulation comes into effect on Tuesday, Reuters reports on Monday, Jan. 14. The Malaysian finance minister, Lim Guan Eng, reportedly said today that the Capital Markets and Services Order 2019 would become effective on Jan. 15. According to Reuters, the new regulation classifies digital currencies, tokens and crypto-assets as securities, placing them under the Securities Commission’s authority. Starting from Tuesday, any person operating unauthorized initial coin offerings (ICOs) or digital asset exchanges in Malaysia will be reportedly facing a 10-year jail sentence and a 10 million Malaysian ringgit fine (around $2.4 million). According to Malaysian news outlet The Star, Eng noted the positive outlook of the Ministry of Finance on the cryptocurrency industry, stating: “The Ministry of Finance views digital assets, as well as its underlying blockchain t..

Japan: Seven Cryptocurrency Exchanges Could Receive FSA-Issued Licenses in Two Months

Seven applications will be either approved or rejected within two months, according to data recently released by the agency. According to new insight into the Japanese financial agency’s review process of companies applying for a cryptocurrency exchange license, seven applications will be either approved or rejected within two months. Cointelegraph Japan reported on this development on Jan. 12. The new information in regard to the review process offered by the Financial Services Agency (FSA) revealed that it involves a lengthy procedure that takes almost six months from the time of application — which includes the submission of answers to over 400 questions — to official decline or approval. According to the FSA’s explanation, after receiving the answers, the agency communicates with the company to verify its business plan, governance, cybersecurity, management system, and anti-money laundering (AML) and counter-terrorist financing. In this phase of the review, the agency’s officers w..

Don’t Expect A Cryptocurrency Market Recovery Anytime Soon – Vinny Lingham

Vinny Lingham who is a general partner at Multicoin Capital and the CEO of Civic said that the cryptocurrency market isn’t going to recover anytime soon. According to him, there is going to be a recovery eventually but it’s going to take a long time. Before the market can fully bounce back, it must recovery from the pain of this extended bear market. Lingham said that psychology plays a serious role in free markets and the market isn’t physiologically ready yet. Cryptocurrency Will Recover But It Will Take Time At the beginning of the year, there was a slight recovery among the top coins. ETH started trading in green carrying BTC, XRP and almost every other coin along. However, within the last few days, the price of cryptocurrencies have fallen significantly against the USD. Things aren’t looking bright and there is no guarantee that the prices will trade in green this weekend. Bitcoin (BTC) Price Today – BTC / USD Name Price24H (%)$3,595.86 -0.96% The 2017 bull run was fueled by th..

Bitcoin (BTC) Will Fall Below $3,000 According To Cryptocurrency Trader Anthony...

The price of Bitcoin (BTC) has been falling significantly for the past 12 months since it reached its all-time-high in January 2018. Many investors have called for a bottom to end the bear market. Even if BTC has fallen as low as $3150, it hasn’t dropped below the $3000 level. This is why some experts believe that $3000 is Bitcoin’s bottom and reaching this level will mark the end of the extended bear market. However, there are some who see Bitcoin falling below the $3000 level. Futures Trader Anthony Grisanti Says Bitcoin Will Fall Below $3000 A popular futures trader and analyst, Anthony Grisanti has said that the price of Bitcoin will fall below the $3000 level. In his words:“I am predicting a move below $3000. This move will represent weakness in the cryptocurrency market. It may be the catalyst that finally gets people to give up on the industry and run away for good. This will push the price even lower.” Grisanti’s prediction isn’t a surprise because he has always been a Bitco..

Delphi Digital Charts Unspent Bitcoins As It Calls For A Cryptocurrency...

Right after the cryptocurrency market declined significantly against the USD, investors and traders were forced to rethink their positions in the industry. Many of them decided to leave the market entirely while some with strong convictions remained. Taking inventory after a bear trend is not uncommon and this is what Delphi Digital did in its latest research. Delphi Digital Takes Inventory Of Bitcoin A research and consulting firm that is focused on the digital market, Delphi Digital, recently took inventory of the cryptocurrency market. After conducting their research, they developed a chart to display their findings and predicted that BTC will reach bottom in the first quarter of 2019. The announcement was made on social media on the 10th of January. Bitcoin (BTC) Price Today – BTC / USD Name Price24H (%)$3,614.30 -4.34% The report was unlike the regular cryptocurrency price analysis. It didn’t rehash arguments about the fundamental value of BTC. It was determined by the unspent..

Japanese Regulators Grant Cryptocurrency Exchange License to Coincheck

Japan’s Financial Services Agency has issued an operating license to Coincheck, which lost $530 million due to a hack last year. Japan’s finance regulator, the Financial Services Agency (FSA), has granted full permission for cryptocurrency exchange Coincheck to continue operating in the country. Cointelegraph Japan reported on the development on Jan. 11, quoting an official communique. Coincheck, which was hacked in January 2018, losing altcoin tokens worth $530 million at the time, now joins the slowly increasing number of officially sanctioned exchanges serving the Japanese market. The step is a milestone for the exchange and for online broker Monex Group, which bought Coincheck for a nominal $33.5 million in April. Since the interim period, developers have slowly returned functionality to users and organized refunds of stolen coins. Japan has sought to implement a licensing scheme over the past year in the wake of unease about exchanges’ security setups. Despite heightened legislat..

South Korea Government Approves Seven out of 21 Cryptocurrency Exchanges’ Security...

Of a total of 21 exchanges, the majority still had notable problems meeting South Korean authorities’ 85 security criteria. Some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could be exposed to attacks, local tech news outlet ZDNet reported on Jan 10. Bithumb, Coinone and Korbit, in addition to four other major exchanges, satisfied investigators during the audit, which took place between September and December 2018. Of the tranche of 21 platforms involved, however, the remaining 14 failed to meet the criteria for suitable security procedures. South Korea previously had one of the world’s most active cryptocurrency trading economies before regulatory upheaval saw consumer habits dramatically change in late 2017. In the interim, attackers have continually targeted South Korean operators in order to steal funds from users, with even officially secure ones such as Bithumb reporting breaches last year worth tens of millions of ..

Almost 5 New Cryptocurrency ATMs Installed Worldwide Each Day, Data Shows

The number of crypto ATMs installed worldwide has surged past the 4,000 mark, despite persistently bearish market action. The number of crypto automated teller machines (ATMs) installed worldwide has surged past the 4,000 mark, data from industry statistics aggregator Coin ATM Radar indicates on Jan. 10. The current rate of growth is 4.9 new ATMs installed each day, according to Coin ATM Radar’s gauge scale — tipping into the highest speed class, despite persistently bearish market action. Crypto ATM installation speed. Source: coinatmradar.com Out of a total of 4167 crypto ATMs worldwide, 71.8 percent are located in North America — 56 percent in the United States and 15 percent in Canada — 23 percent are in Europe, and 2.6 percent in Asia. 1.3 and 1.1 percent are in Oceania and South America respectively, and just 0.2 percent are located in Africa. Within Asia, Hong Kong has the lion’s share of ATMs — accounting for 0.8 percent of machines worldwide — while in Europe it is Austria (..
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