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Rumors of a Ban on Cryptocurrency Trading in South Korea
According to the Guardian, there are rumors of an upcoming ban cryptocurrency trading in South Korea due to concerns over tax evasion. The market price of Bitcoin decreased 13.5 percent early this morning following the news. Any draft of a ban requires a majority vote of the total 297 members of the National Assembly before it becomes law.
Subsidiary of Gibraltar Stock Exchange Planning an ICO to Raise USD 6 Million
The Gibraltar Blockchain Exchange (GBX), a subsidiary of the Gibraltar Stock Exchange (GSX), is planning on conducting an ICO to raise USD 6 million. According to Business Insider, the cryptocurrency they are going to sell between February 7, 2018 and February 14, 2018 are called “Rock Tokens.” The GBX has already sold USD 21 million “Rock Token,” in a private pre-ICO, which ended in December 2017.
Kibo Lotto Team Distributes USD 13 Million to ICO Investors
The Kibo Lotto team has distributed USD 13 million to all holders of KIBIT tokens and Kibo Platform owners. According to Cointelegraph, the USD 13 million is the amount of investments at the time of the ICO with an additional double-rate charge. Kibo Lotto claimed that the distribution of funds represented a “thank you” to its supportive investors.
Japanese Chat App, Line, Plans on Integrating Cryptocurrencies in New Payment Services
The Japan-based chat application, Line, is planning on integrating cryptocurrencies into its messaging platform. As reported by Bloomberg, Line wishes to collaborate with other companies to use cryptocurrencies in new payment services, such as Line Pay. Line currently has 168 million monthly active users in Japan, Taiwan, Thailand and Indonesia.
Venezuela’s Parliament Bans Proposed Oil-Backed Cryptocurrency, Petro
According to Reuters, Venezuela’s parliament has banned a proposed cryptocurrency, called Petro, by labeling its as an effort to illegally mortgage the country’s oil reserves. President Nicolas Maduro has been promoting the proposed cryptocurrency for the past month. The future plans of the Petro remain unclear.