The measure comes on top of stepped up efforts by Seoul to temper South Koreans' obsession with cryptocurrencies. Everyone from housewives to college students and office workers have rushed to trade the market despite warnings from global policymakers about investing in an asset that lacks broad regulatory oversight.
RoC has also, in certain cases, asked for an undertaking from software development or information technology companies that it will not deal with cryptocurrencies.
The exchanges which are facing the action are the top ten such platforms in the country and include Zebpay, Unocoin, CoinSecure and BtcxIndia
Tech-savvy young investors, real estate players and jewellers are among those invested in bitcoin and other virtual currencies, tax officials told Reuters after gathering data from nine exchanges in Mumbai, Delhi, Bengaluru and Pune.
The twins invested reportedly about $11 million in purchasing Bitcoins way back in 2012
Investors of BitConnect, the company which had some presence in India as well, are staring at about 95 percent loss. The company has been flagged by multiple enthusiasts in the past
The country's tough stance comes as policymakers from the United States to Germany struggle to come up with stricter regulation against money laundering and other crimes.
Bitcoin skidded below USD 10,000 on Wednesday, halving in value from its peak price, with investors gripped by fears regulators could clamp down on the volatile cryptocurrency that sky-rocketed last year.
Bitcoin developer Sergio Lerner estimates that almost 1 million unspent bitcoins belong to the cryptocurrency’s mysterious creator...
The price of the world's biggest and best-known cryptocurrency fell to as low as $10,567 on the Luxembourg-based Bitstamp exchange, not far from its six-week nadir of $10,162 touched the previous day. The session's high was $11,794.07.
All of the top 20 digital currencies — by market value — suffered double digit losses over the last 24 hours, according to data from industry website CoinMarketCap.
If you had purchased Bitcoin with an intention to invest exactly a month ago, expecting that it will reap you hefty returns, it was perhaps not a very good bet
Even though Bitcoin has been there for the last seven years, it is now that investors are increasingly looking in to this assets classes.
Beijing plans to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading, Bloomberg said, citing unnamed sources.
Google Trends data shows that the city which processes most of the diamonds in the world was also relatively ahead of others in exploring for new avenues to invest
On January 11, Justice Minister Park Sang-ki said the government was preparing a bill to ban trading of the virtual currency on domestic exchanges.
Watch the interview of Sudin Baraokar, Head – Innovation at SBI, Richard Kastelein, Founder of Blockchain News, Aditya Dev, a Blockchain Expert, Manish Kumar, Co-Founder of GREX with Manisha Gupta of CNBC-TV18, where they spoke about the technology behind cryptocurrencies, the blockchain technology.
It has been a tough start of the year for cryptocurrencies. All major currencies are down anywhere between 10 to 50 percent. What could be the possible cause of sudden downfall? Here's a special CNBC report on the possible reasons of downfall.
A committee appointed by the government last year to examine issues related to cryptocurrency has submitted its report, a senior law ministry official said on Thursday.
If those ominous words aren't enough to stress investors out, earlier this week, the popular cryptocurrency ripple plunged almost 13 percent and bitcoin shed nearly 8 percent of its value.
Bitcoin was down more than 10 percent on the Bitstamp exchange at $13,350 on the newss, after earlier dropping as low as $13,120, its weakest since January 2.
"A few officials from the National Tax Service raided our office this week," an official at Coinone, a major cryptocurrency exchange in South Korea, told Reuters.
"The blockchain is real," Dimon added in the interview. "You can have cryptodollars in yen and stuff like that. ICOs ... you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people."
The application, which was created on Dec. 24, uses host computers to mine a cryptocurrency called Monero. It then sends any coins to Kim Il Sung University in Pyongyang, said cybersecurity firm AlienVault, which examined the program.
Venezuela has the world's largest oil reserves, according to OPEC, and makes some 95 percent of its export revenue from oil.