Iranian Authorities Have Issued 1,000 Licenses for Cryptocurrency Mining

Iran’s Ministry of Industries, Mining and Trade has issued over 1,000 cryptocurrency mining licenses to domestic operations. According to a report published on Jan. 24 by Iran’s Banking and Economic System Reference Media (IBENA), a member of the Information and Communications Technology (ICT) Guild Organization’s blockchain commission, Amir Hossein Saeedi Nai, informed the public of the number of licenses issued. He explained that before launching a mining operation in the country, entrepreneurs must apply for a license, adding that the government has issued over 1,000 permits so far, and several…

This Top Cryptocurrency Got 51% Attacked. Yet, It’s Up 19% And It’s a Problem

A researcher at the MIT Digital Currency Initiative discovered that Bitcoin Gold was 51 percent attacked on January 23. Yet, in the last 24 hours, the cryptocurrency has increased by 19 percent in price. In a report published on code repository GitHub, MIT DCI research assistant James Lovejoy said two seperate attacks were carried out on Bitcoin Gold blocks within a span two days. More attacks can happen and still, price of the cryptocurrency is up A 51 percent attack is quite possibly the most serious form of attack against…

Cryptocurrency News From Japan: Jan. 20–24 in Review

This week’s headlines from Japan include several central banks collaborating on digital currency research, Binance removing the Japanese yen from its platform, Japan’s Liberal Democratic Party investigating digital assets, comments from Japan’s Deputy Prime Minister on digital currency research importance, and Coincheck paying out its first Lisk staking reward.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese political party proposes digital currencies Japan’s ruling Liberal Democratic Party aims to propose a national digital asset in spring of this year, according to some…

Has Quebec Missed the Ship for Attracting Cryptocurrency Miners?

The results of a 300 megawatt (MW) energy allocation for cryptocurrency miners, run by Canadian provincial utility provider Hydro-Québec, has failed to attract expected demand from the local industry. A Request for Proposals (RFP) for power allocation was opened in June last year, supposedly based on huge demand of around 16,000MW from miners around the world that wanted to take advantage of Quebec’s hydroelectric power. Bid submissions closed on Oct. 31, 2019. According to a Jan. 22 report from Radio Canada, the results of the RFP or only released recently…

Cryptocurrency Not Banned in India, According to RBI

Over the course of the past half-decade or so, the cryptocurrency space has grown at a breakneck pace, and it is believed that it is going to keep expanding in the years to come. However, in this regard, it is also important to note that it has thrived because many nations have not outlawed crypto tokens. In this regard, India, one of the world’s biggest economies, cleared the air about its stance on cryptocurrencies. The central bank of the country, the Reserve Bank of India, stated that despite reports to…

EGifter Will Be Among First BitPay Merchant To Accept XRP Cryptocurrency

BitPay, a leading provider of Bitcoin and cryptocurrency payment services, announced on Jan. 21 the launch of XRP payments and cross-border transfers. BitPay has also added support for XRP — the cryptocurrency used by Ripple’s payment network — to the BitPay Wallet app.  Although rumors were circulating on Jan. 20 across Twitter and Reddit that BitPay had added support for XRP, the company officially confirmed its work with Ripple’s developer platform Xpring to complete the integration.  According to BitPay’s CMO, Bill Zielke, BitPay merchants around the world are now able…

Canadian Teen Charged for $50 Million Cryptocurrency Theft

An eighteen-year-old from Montreal is facing four criminal charges connected to a $50 million SIM-swapping scam targeting cryptocurrency holders, Infosecurity Magazine reported on Jan. 17. The hacker, Samy Bensaci, is accused by Canadian authorities of being part of a ring that stole millions of dollars in cryptocurrency from American and Canadian holders. The theft is said to have occurred in spring of 2018, with Québec police representative Hugo Fournier saying that the hackers were responsible for the theft of “$50 million from our neighbors to the south and $300,000 in…

Canadian Regulator Issues New Guidance for Cryptocurrency Exchanges

Canadian authorities have issued new guidance to determine which digital currency trading platforms fall under derivatives law. The Canadian Securities Administration (CSA) explained new provisions in the “Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets” published on Jan. 16.  In general, the agency drew a line between trading platforms that make an immediate delivery of a crypto assets to its users, and those that hold the transaction of crypto assets until the user makes a later request. To what exchanges do securities laws…

Thai Officials to Investigate Alleged Cryptocurrency Pyramid Scheme

A human rights lawyer representing victims of an alleged cryptocurrency pyramid scheme in Thailand is taking their case to the country’s Department of Special Investigation (DSI). The Bangkok Post reported on Jan. 16 that roughly 20 victims, whose losses are alleged to total 75 million baht (~$2.5 million), are seeking to go beyond the investigations of local police in Thailand’s Krabi province given the gravity of the case.  The DSI, a department of the Thai Ministry of Justice, works independently of the Thai Royal Police force and is tasked with…

Bithumb Cryptocurrency Exchange Goes to Court Over $69M Tax Bill

Major South Korean cryptocurrency exchange Bithumb has decided to litigate a near $69 million (80 billion won) tax bill levied by the National Tax Service (NTS). According to a report published by The Korea Times on Jan. 16, Bithumb filed a complaint with the NTS, suggesting that the imposed tax bill is groundless given that cryptocurrency is not a legally recognized currency. The South Korean tax tribunal now has to decide whether to grant or dismiss the exchange’s motion within 90 days. NTS imposed a retention tax — an income…