- Ex-Mt Gox Head Will Serve No More In Jail
- Hong Kong’s Gatecoin exchange shuts down
- Central Bank of Russia Plans on Limiting Cryptocurrency Trading
- Basel Committee Issues Warning to Banks for Cryptocurrency Risks
- Coinbase Custody Unveils New Cold Storage Cryptocurrency Trades
Ex-Mt Gox Head Will Serve No More In Jail
Well, another turn in the Mt Gox exchange hack case. A court in Tokyo has handed Mark Karpelès, the former chief executive of the collapsed Bitcoin exchange Mt. Gox, A 2.5 years of the prison sentence on Friday. This means Mark Karpelès will not be serving any additional time in the jail if he remains on good behavior. This verdict bought an end to more than a 5-year ordeal for Mr. Karpelès who was charged for falsifying data
Hong Kong’s Gatecoin exchange shuts down
Gatecoin, the Hong Kong-based cryptocurrency, has finally announced that it will be calling curtains to its operations after a court order and the bank account freeze. Last week, the court had granted a winding-up order against the company. Gatecoin stated that it will assist in the liquidation process in order to expedite the realization of its assets to the creditors.
Central Bank of Russia Plans on Limiting Cryptocurrency Trading
Apart from standing by innovation, the blockchain, and cryptocurrency, the Russian regulators especially the country’s central bank has planned to put a yearly limit on so-called “unqualified investors” who are willing and able to buy cryptocurrencies as reported by the media house RBC’s. The central bank also plans to change the existing draft digital currency bill, known as ‘On Digital Financial Assets,’ that passed the second reading in parliament – State Duma.
Basel Committee Issues Warning to Banks for Cryptocurrency Risks
Another news coming from the world banking authority, the Basel committee, which after citing the growth of cryptocurrencies as a risk to banks, has issued a warning to banks around the globe. Having released a statement this week, The Basel committee which is the part of Bank for International Settlement (BIS), released a statement stating that, the important risks the banks will be facing which were listed by a Swizz based think tank includes credit and market risks, money laundering risk, liquidity risk, terrorist financing risk, operational risk, and legal and reputational risks.
Coinbase Custody Unveils New Cold Storage Cryptocurrency Trades
Coinbase is back in news and this time for its Coinbase Custody service. According to the latest announcement, Coinbase Custody service is now directly integrated with the company’s newly launched OTC desk. Custody clients will be able to complete trades directly from cold storage, the company said in its release, adding that it was a service many of its users requested.