Government

The Political Affairs Committee of South Korea’s National Assembly has informed the Financial Services Commission (FSC) on numerous attempts of hackers to break into the country’s financial institutions. Cryptocurrency exchanges became the main target.

Global fast-food giants McDonald’s and Starbucks have never been included into the trials of digital yuan. None of the brands confirmed its participation in the testing program.

Several countries, including the US and China, are working on their own digital currencies (Central Bank Digital Currency or CBDC). Is this about giving people more freedom over the payments or control over the financial flow? What is in it for the government and its citizens?

Cryptocurrency industry becomes less decentralized and anonymous and more regulated and controlled. Government authorities require crypto exchanges to disclose transaction data of their customers. And the exchanges seem to be quite collaborative in these terms.

The authorities of Ukraine have recently rolled out a new bill combating cybercrime that also describes the procedure for the confiscation of cryptocurrencies obtained illegally.

As many Asian tigers are embracing and regulating the use of blockchain technology and Bitcoin, India is planning to create a new law prohibiting cryptocurrency trading.

Due to the hyperinflation of the local currency, Iran is planning to use locally mined cryptocurrency for car import.

Internet shutdowns imposed by the country's government as an answer to massive protests against President Alexander Lukashenko have put blockchain and cryptocurrency businesses under threat.

The ongoing wave of hacks and attacks affects the operation of many companies in the cryptocurrency field. One of the biggest hardware wallet manufacturers Ledger has recently suffered a hack that led to losing about a million emails as well as other customer information.