South Korea to ban foreigners from crypto trading

South Korean Government is deeply concerned about due to theĀ "unchecked speculation" on cryptocurrency market
13 December 2017   2258

The government of South Korea announced that it would prohibit foreigners and minors from dealing with currency trading or opening accounts in local banks. This is reported by ZDNet.

Such a statement was made after an emergency meeting of high-ranking representatives of financial regulators, at which the risks of trading crypto-currencies were discussed.

According to the publication, the country will also introduce a profit tax on virtual money and will tighten requirements for the authentication of traders.

In turn, banks and other financial institutions will not be able to own, buy and mortgage crypto-currencies or their derivatives. In addition, transactions with the participation of virtual money institutional traders will be able to perform exclusively on stock exchanges.

Last week, the price of bitcoin in South Korea ranged from 14 million won ($ 13,000) to 25 million won ($ 23,000). As a result, officials expressed fears that the crypto-currency sphere could be a financial bubble because of "unchecked speculation."

It is also noted that the departments will make every effort to prevent losses of "ordinary" investors and suppression of speculation on stock exchanges. However, the full prohibition of crypto currency is out of the question, since such a move could hamper the development of financial technologies.

Lightning Desktop App to be Launched in BTC Mainnet

The application, which is based on the lightweight Neutrino client, is available for theĀ macOS, Windows and Linux, however, it's oriented fro test environment
24 April 2019   121

Lightning Labs, a leading developer of solutions for the Lightning Network, announced the launch of its desktop wallet in the main Bitcoin network. An application that was previously tested in a test network is available in the alpha version.

The application, which is based on the lightweight Neutrino client, is available for the operating systems macOS, Windows and Linux, however, as the developers emphasize, is still oriented primarily to the test environment. At the same time, more advanced users can also experiment with the wallet interface and get access to their funds.

Lightning App Desktop Version Screenshot
Lightning App Desktop Version Screenshot

The Neutrino client allows non-custodial Lightning wallets to verify Bitcoin transactions without the need to synchronize with the full version of the blockchain.

The new release includes such a function as displaying a single balance, which will allow users to see the cumulative number of coins both in the network base and in the payment channels by percentage.