South Korean Financial Supervisory Service denies value of cryptocurrency

Financial watchdogs say that it’s a piece of deception but not the real money
23 November 2017   1025

Choe Heung-sik, the head of the Financial Supervisory Service (FSS) announced that there is no need to control operations with digital money because members of the agency don’t think that cryptocurrency can be used as legal tender. They consider digital coins as a mean for sharp practices. Choe claims that cryptocurrency can not be used for payments.

As long as FSS keeps in check all operations with public money, digital currency is beyond the control of South Korean Financial watchdogs. Choe Heung-sik admitted that under the prevailing circumstances the agency has no plan how to control exchange of the cryptocurrency.

It should be noted that shortly before such announcements of the chief of the FSS there was a collapse with South Korean domestic exchange Bithumb. As a result, Bithumb lost billions of won.


Binance Android App to Support CC Payments

Additionally, crypto-fiat exchange Binance Singapore was launched
25 April 2019   83

Binance has updated the application for the Android OS. Now users can buy cryptocurrency using their credit cards.

In particular, the feature of buying Bitcoin, Ethereum, Ripple, Litecoin and Bitcoin Cash with your credit card is now available.

At the same time, the launch of the Binance Singapore crypto-fiat exchange took place. So far, only one trading pair is available to users of the site - BTC / SGD, but later in the listing other coins may appear.

Singapore users need not only to create an account, but also to link it to an account in the local Xfers payment service, which provides cryptowallet approved by local regulators.

It is noteworthy that earlier Xfers was a partner of Coinbase, when the latter launched its services in Singapore, but relations between the companies were terminated.