Ex-FBI Director Louis Freeh Opens up about Tether Investigation

The controversial “stablecoin” known as Tether has certainly had an interesting past few months. Company founders say the token is backed by physical USD at a 1-to-1 ratio, which has sparked immense discussion and debate inside of the cryptocurrency community. Some see Tether as a systemic risk to the entire virtual currency world. Others see

The post Ex-FBI Director Louis Freeh Opens up about Tether Investigation appeared first on CCN

Korea’s Financial Watchdog Calls for Stock Trading on a Blockchain

South Korea’s primary financial watchdog has backed the use of blockchain technology as the core infrastructure for trading stocks in the country. First reported by domestic news publication Korea Joongang Daily, the Financial Supervisory Service (FSS) has advocated the use of blockchain for stock trading in a report focused on the subject released on Thursday.

The post Korea’s Financial Watchdog Calls for Stock Trading on a Blockchain appeared first on CCN

Tether Releases ‘Transparency Update’ Vetted by Former FBI Director’s Law Firm

Controversial cryptocurrency startup Tether has released a “transparency update” indicating that its dollar-pegged USDT token, which had a $2.55 billion market cap as of June 1, is fully backed by physical dollars deposited in two separate banks. Released on Wednesday, the report was a product of Freeh, Sporkin & Sullivan LLP (FSS), a legal firm

The post Tether Releases ‘Transparency Update’ Vetted by Former FBI Director’s Law Firm appeared first on CCN

South Korea Will Focus ‘Positive Aspects’ of Cryptocurrency, Soften Policy

South Korean regulators and officials are likely to relax their approach to regulating cryptocurrencies, starting with classifying them as ‘financial assets’. There’s a July deadline looming for G20 nations after policymakers called for recommendations for regulating cryptocurrencies, seen as ‘financial assets’ by the economic leaders from the world’s twenty largest economies. South Korea’s regulators, however,

The post South Korea Will Focus ‘Positive Aspects’ of Cryptocurrency, Soften Policy appeared first on CCN

Korea’s New Financial Watchdog Chief Envisions Stable, Less Speculative Crypto Market

The new head of Korea’s financial watchdog has doubled down on the anticipated effort of his agency considering a lenient approach to cryptocurrency trading. Yoon Suk-heun, an academic and reformist who was – this week – appointed as the governor of Korea’s Financial Supervisory Service (FSS), has had more to say about his own stance

The post Korea’s New Financial Watchdog Chief Envisions Stable, Less Speculative Crypto Market appeared first on CCN

Korea to Relax Cryptocurrency Curbs Under New FSS Chief

The incoming head of Korea’s primary financial regulator has reportedly confirmed that the authority will look to ease regulations on domestic cryptocurrency trading. Speaking to reporters on Sunday after being approved by President Moon Jae-in to lead the Financial Supervisory Service (FSS), new governor Yoon Suk-heun said the regulator will look at revising some regulations

The post Korea to Relax Cryptocurrency Curbs Under New FSS Chief appeared first on CCN