1. RBI deadline on cryptocurrency: Bitcoin exchange Zebpay asks users to withdraw money :- As the RBI deadline for banks to stop doing business with cryptocurrency exchanges in India expires on July 5, one of the biggest digital currency exchanges in India Zebpay has asked its users to withdraw their money before the deadline ends. There's been a sharp decline in Bitcoin and Ripple prices on Zebpay in the past one month, and the recent statement from the company could lead to further decline. The company has denied the increase in price volatility. Zebpay said in a statement that it may not be able to honour people's request after the deadline if banks discontinue the services as directed by the Reserve Bank of India. The current decision could lead to confusion among over 30 lakh Zebpay investors. Prices of the volatile bitcoin on Zebpay is Rs 4,22,550, which is well below Rs 6 lakh in the previous month. Read here
2. Line to launch cryptocurrency exchange in Singapore :- Line will launch its cryptocurrency exchange in Singapore next month as the Japanese messaging app makes a big push into blockchain and financial services to compete against WhatsApp and WeChat.Line, which has around 200m monthly active users, joins Telegram and a series of other global social apps making a foray into the crypto market. Asia has emerged as the hub for the boom in cryptocurrencies but recent exchange attacks have led regulators around the world to take aim at the trading of bitcoin and other digital currencies. Read here
3. Why cryptocurrency mining malware is the new ransomware :- If 2017 was the year of ransomware, then 2018 is the year of malicious cryptocurrency mining attacks as some cyber criminals turn away from encrypting files in the hopes of scoring a one-off payment in favour of infecting victim's machines with cryptojacking malware and playing a longer game. Read here
4. Digital currency sales hit $13.7 billion in first five months of 2018: Report :- Digital currency sales jumped to $13.7 billion in the first five months of the year, nearly double the amount raised for the whole of 2017, according to a report released on Thursday by PwC's strategy and consulting division Strategy& and Switzerland-based Crypto Valley Association.Technology startups in the blockchain space around the world have raised funds by selling cryptocurrencies, or tokens directly to investors in initial coin offerings (ICOs), bypassing banks or venture capital firms as intermediaries. Read here
5. South Korea's FSC tightens rules on crypto exchange bank accounts :- In order to address increasing money laundering cases, South Korea's financial regulator has decided to tighten the monitoring of bank accounts related to cryptocurrency exchanges in the country.The Financial Services Commission (FSC) announced on Wednesday that domestic banks which offer services to cryptocurrency exchanges must now monitor all those accounts held by an exchange. Read here
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