South Korean Financial Regulator Confirms Privacy Coin Delistings- Adds New Guidelines to Report Unusual Transactions
South Korean financial watchdogs are about to start overseeing crypto-related activities in the nation, and additional barriers for exchanges keep appearing. Moreover, one of the South Korean regulatory bodies codified the measures announced last year on privacy coin listings.
No Major Domestic Exchanges Can List a Privacy-Centric Crypto-Asset
According to Electronic Times, the Financial Services Commission’s Financial Intelligence Unit (FIU) confirmed that all privacy coins would be delisted from the domestic cryptocurrency exchanges.
The watchdog argued that difficulties in determining transaction details carry a high risk of money laundering through such cryptocurrencies.
Although the FIU just confirmed it, the local press first reported the measure in November 2020. The FIU pledged to ban privacy coins such as monero (XMR) and zcash (ZEC).
South Korean platforms such as Okex have since been forced to delist several privacy coins to align with the anti-money laundering (AML) rules.
However, as of press time, no major South Korean crypto exchanges have any privacy-centric cryptos listed. The Financial Intelligence Unit is the regulatory body responsible for dealing with AML matters.
Reporting ‘Unusual’ Transactions Within Three Working Days
Also, per Yonhap Times, the unit will ask domestic exchanges to flag and report any unusual transactions on their platforms “within three working days.” According to the FIU guidelines, the reports should specify the transaction’s values in fiat Korean won (KRW).
The regulatory body expects policy exchanges through a protection management system, which will gather information such as banking data and social security numbers. In fact, the unit wants that banks are also responsible for making exchanges compliant with AML rules.
The South Korean crypto bill will become effective in March 2021, after clearing a series of delays and discussions on who should oversee all the crypto industry from a legal perspective.
Also, the coronavirus pandemic halted discussions, as other bills were granted a significant priority on the pipeline.
What do you think about this news ahead of the South Korean crypto bill deadline? Let us know in the comments section below.
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MoneyGram suspends trading on Ripple, citing SEC lawsuit
“Due to the uncertainty concerning their ongoing litigation with the SEC, the company has suspended trading on Ripple’s platform,” says MoneyGram’s quarterly outlook.
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Researcher Finds an Old Twitter Profile May Have Been Satoshi Nakamoto’s Account
On February 22, 2021, an author published a post on substack.com about an anonymous Twitter account that may have belonged to the mysterious Satoshi Nakamoto. The researcher discovered a Twitter account dubbed ‘Goldlover,’ and found some interesting coincidences with the account’s tweets and Bitcoin’s creator.
The Curious Goldlover Tweets
An author called Varun published an interesting analysis of a specific Twitter account that may or may not belong to Bitcoin’s creator. Varun said in his research analysis that he stumbled upon the Twitter account called ‘Goldlover,’ and noticed that the account was quite “chatty” for a period of time.
Running bitcoin
— halfin (@halfin) January 11, 2009
The researcher also said that Satoshi Nakamoto was the same way up until the inventor left the community for good. The Goldlover account (@fafcffacfff) was created in May 2008 and Varun says that a script was written. The Goldlover tweets mentioned gold quite often, and Varun’s findings suggest that the ‘gold’ terminology may be in reference to “Bit Gold.”
“On September 17th, 2008, this account made a reference to Digital Gold Currency,” Varun’s post highlights. “In between an incredible amount of nonsensical tweets about gold, sometimes there would be tweets which referenced decentralization, financial crisis, people losing their homes, fiat currency, criticism of the Federal Reserve,” Varun says. “These are all hallmarks of talking points used by Satoshi in his emails and forum posts which are well known, post-Bitcoin announcement.”
For instance, on December 19, 2008, Goldlover said:
The Great Stock Panic of 2008 was so mercilessly brutal that no sector escaped its ravages.
What is also quite interesting is that no other Twitter accounts back in January 2009, except for Hal Finney, tweeted about Bitcoin. “Based on all of this, this is good enough for me to feel quite confident that this indeed was Satoshi’s original anonymous Twitter account,” Varun notes.
On January 11, 2009, Hal Finney tweeted about the crypto asset and not too long after that Goldlover wrote: “From: Satoshi Nakamoto – 2009-01-11 22:32 Bitcoin v0.1.2 is now available for d.”
The very same day on January 29, 2009, Goldlover also said:
It’s completely decentralized with no server or trusted parties.
Exploring the Limitless Depths of Satoshi’s Mind
Ever since Varun published his post about the alleged Satoshi Nakamoto Twitter account, people have been interacting with Goldlover’s 12-year-old tweets.
“Thanks for changing the world Satoshi,” an individual wrote on Monday.
If you know where there are oranges in the sky in Winter Garden, you are on the right track for locating a treasure box.
— GoldLover (@fafcffacfff) February 11, 2009
“Feeling sufficiently anonymous with this cryptic account run since May 2008, this might have been a slip to now start linking up and showing up as the 2nd tweet ever to mention Bitcoin,” Varun’s substack.com blog post states. “If Hal was Satoshi, then why continue tweeting from this unknown account, which barely had any followers?” Varun asks. The researcher said that he could have slept in every Saturday morning, but this Twitter account had him on the hunt for Nakamoto.
The report concludes:
Having concluded this was Satoshi – we don’t know who, the rest of the tweets now provide an insight into his mindset, and each tweet here needs to be branched out and explored in limitless depths.
At the end of Varun’s theory, he left a mysterious tweet from Goldlover which talks about a treasure box with oranges in the sky.
“If you know where there are oranges in the sky in Winter Garden, you are on the right track for locating a treasure box,” Goldlover tweeted.
Just recently a group of armchair sleuths have been on the hunt for Satoshi’s stash of bitcoins because they believe Nakamoto left the coins to be the greatest treasure hunt ever. Despite the coincidences and the extremely old and cryptic tweets from Goldlover, we don’t know for sure if the Twitter account actually belonged to Satoshi, but today many people are speculating.
What do you think about the Goldlover Twitter account that may belong to Satoshi Nakamoto? Let us know what you think about this subject in the comments section below.
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Long Blockchain Corp has officially been delisted by SEC
The beverage maker turned Bitcoin mining company has failed to file its financial reports with the SEC.
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3 Bitcoin price metrics show bulls were not fazed by today’s $1.6B liquidation
Today’s $1.6 billion Bitcoin liquidation event might have flushed out some over-leveraged retail investors, but the overall market is still positioned in favor of bulls.
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Cointelegraph launches Markets Pro crypto intelligence platform, powered by The TIE
The live beta test suggests that historical analysis of crypto markets, combined with real-time conditions and investor sentiment, can be extremely informative.
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US Treasury Secretary floats idea of digital dollar maintained by the Fed
She still questioned how regulators would “manage money laundering and illicit finance issues” with digital currencies.
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Can’t beat ‘em? Join ‘em: Mastercard and Visa make a case for Bitcoin
Mastercard is set to open the shop doors to crypto as a means of payment in 2021, but it will likely be a challenge for the firm.
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‘Bitcoin Is the Biggest Jailbreak in Human History,’ Says Philosopher Stefan Molyneux
On February 19, the Canadian podcaster and Freedomain Radio host, Stefan Molyneux, discussed his thoughts about bitcoin following the crypto asset’s tumultuous rise capturing over a trillion-dollar market valuation. Molyneux’s recent speech describes the liberating potential bitcoin could bring to the masses and how the crypto network has the ability to change humanity for the better.
‘Bitcoin Is a Currency That Serves the People at the Expense of the Parasites’
Just recently the crypto evangelist and philosopher, Stefan Molyneux, spoke about the Bitcoin blockchain in great detail. Molyneux opened his speech by answering a question about BTC and ETH having a hard time scaling. The Freedomain radio host said that it is good to critique, but that people in the crypto space wouldn’t give up so easily.
Molyneux mentioned that bitcoin’s market capitalization just crossed the trillion-dollar milestone and noted that the people who have added that value won’t throw in the towel. He insisted that many crypto proponents have given a decade of their lives toward spreading adoption, and mentioned there are solutions like bitcoin cash (BCH) and the Lightning Network.
“The Bitcoin community is composed of just about the most brilliant, and economically and ideologically motivated human beings on the planet,” Molyneux stresses in his video. “Bet against them at your freaking peril, because Bitcoin is not just an alternative currency, it’s not just a store of value, it’s not just a cool public ledger. Bitcoin is a passionate FU to the powers that be,” Molyneux adds.
The Freedomain philosopher continues: “Bitcoin, as I’ve argued publicly in speeches many years ago— Bitcoin is the potential end to war, to end hyperinflation, to end intergenerational debt— Bitcoin is a mission of mercy to the future— Bitcoin is the Jesus to the new conference of the religion of peace called crypto. Bitcoin is the people regaining control over their currency for the first time in the history of the world— Bitcoin is currency democratized, unpolitized, unpredatored.”
Molyneux added:
Bitcoin is a currency that serves the people at the expense of the parasites, rather than the currency which serves the parasites at the expense of the people at the moment. Bitcoin is rescuing your precious labor from being hoovered up endlessly by the invisible vampire mosquitoes of central banking.
Today’s Fiat Currency Is Slavery Tethered to Unborn Generations
The philosopher continues by commending the Bitcoin community and says that the people in crypto are “seriously brilliant.” Beautiful and “deranged people,” he says that are “committed to the future of peace and plenty that Bitcoin could represent.”
Molyneux further notes that the current fiat currency distributed by the world’s oligarchic bureaucracy is “slavery.”
“What we understand is currency now is slavery. The currency is summoned into existence at the expense of your children’s futures. What you think of as a dollar sign is a slow jugular sucking noose twined and twisted around the necks of your children,” Molyneux reveals.
National debt, Molyneux continues to highlight is “a real human trafficking problem.” You need to understand the Bitcoin space he adds. “The passion that these incredibly brilliant people have brought to bear on the oldest human problem— How do you store a value so that thieving predatory vampiric assholes can’t get their jugular sucking tentacles on it at all times? How do you store value so that you can actually come back to it?” Molyneux asked.
He adds:
Civilization is all about the storing of value. How do you store value? That’s civilization you understand. Bitcoin is about how you store value so that [parasites] can’t get their hands on it. They just can’t. You put your money in the bank, inflation eats it away, you store your meat by the river, the flies lay their eggs in it and you can’t eat it, you got gold coins in Rome, they put all kinds of a bimetallic [crap] into the gold and destroy its value in your hand.
‘The Likes of a Revolution That We Have Never Ever Ever Seen Before in Human History’
Molyneux says that humans are all about storing value and in the evangelist’s opinion, the storage and retention of value is everything in life. “By creating something that can store value outside the state, that is the likes of a revolution that we have never ever ever seen before in human history,” the philosopher insists.
“If shells on some island are the currency,” Molyneux details in an analogy. “Then you need three shells a day to live, and if you get four shells, someone’s gonna take the fourth shell. Then tomorrow you won’t bother to get the fourth shell. You just stick with getting three shells and nothing will ever progress, because nothing can be saved or stored up in value. Nothing ever gets built because everything you build is going to be taken away from you,” he added.
Molyneux continues: “Imagine… everything you build is going to get taken away. It’s happening [right] now, you understand. Everything you have built is already taken away by unfunded liabilities, national debt, inflation— Everything you build is already taken away. You are just holding it now to have it for a little while to give you the illusion so you can go to work tomorrow.”
Bitcoin Represents a New Financial System That Doesn’t Leverage the Unborn as Collateral
Molyneux says you can have a house. But it’s really not your house. He highlights that you have to pay the government every year to keep it.
“And the government put it in so much debt and you in so much debt, that it’s gonna be owned by some foreign bankster, at some point,” Molyneux’s speech details. “Or the entire currency is going to collapse and society goes back to savage gangs and you lose your house. You pretend you have a house, you pretend you have electricity, you pretend you have a car, you pretend you have everything but you have nothing.”
The Freedomain radio host further says:
You know this 2030 ‘you’ll own nothing and you’ll be happy,’ [that’s the way it is] now. In fact you owe, you don’t own, you owe. You are only allowed to pretend you own something so that you will get up and go to work tomorrow. That’s it man.
Bitcoin has changed this course, Molyneux emphasizes. Bitcoin is the first of its kind that can actually keep parasites away from stealing value he notes. He says that the society we live in today treats babies and the unborn as “collateral.” Bitcoin can bolster a system that does away with such an immoral system.
“If you generally understood how much debt was taken out on your behalf just because you are breathing,” Molyneux notes. “If you genuinely looked at that math, you can find it pretty easy,” he added.
Molyneux’s speech continues for another 20 minutes longer, and news.Bitcoin.com readers can watch the rest of his speech here.
What do you think about Stefan Molyneux’s recent Bitcoin speech? Let us know what you think about this subject in the comments section below.
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Up to 5% of public companies will follow Tesla’s Bitcoin buy, says Wedbush analyst
Dan Ives, Wedbush Securities’ managing director, says companies are going to start FOMOing into Bitcoin very soon.
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