South Korea Bans Anonymous Bitcoin Trading

The government of South Korea said that virtual coins can not play a role as actual currency and could result in high losses due to excessive volatility
28 December 2017   2007

South Korea’s government said on Thursday it will impose additional measures to regulate speculation in cryptocurrency trading.

According to the statement, the steps will include a ban on opening anonymous cryptocurrency accounts and new legislation to allow regulators to close virtual coin exchanges if needed, a measure recommended by the justice ministry.

The government said that virtual coins can not play a role as actual currency and could result in high losses due to excessive volatility. It also noted that trading prices of most cryptocurrencies were much higher on South Korean exchanges than they were on exchanges in other countries.

Recently, we have reported that the government of South Korea announced that it would prohibit foreigners and minors from dealing with cryptocurrency trading or opening accounts in local banks

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   114

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.