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johnd • May 13, 2020, 9:06 am EDT

JPMorgan Bank Takes on Coinbase, Gemini as Its First Crypto Exchange Customers

Its CEO once called bitcoin a fraud but now U.S. banking giant JPMorgan Chase has added its first cryptocurrency exchange customers, CoinDesk has confirmed. Sources told The Wall Street Journal Tuesday the bank signed two popular regulated exchanges – Coinbase and Gemini, the latter founded by Tyler and Cameron Winklevoss. The fact that both exchanges are regulated in the U.S. was apparently a factor in the approvals, which still took a lengthy period of vetting, the WSJ said. Accounts for the two crypto firms were approved last month, the sources said, and are now in use. The move by JPMorgan is notable in a

3 minutes

johnd • Aug 30, 2018, 10:02 pm EDT

When Fiat Fails, Korean Province Says ‘YES” To Crypto

South Korean Crypto? The South Korean province of Gyeongsangbuk-do has revealed that the effort to replace local currencies with crypto has begun, Joongang Daily reported this week. Also known as Gyeongbuk, the eastern South Korean province has been attempting to replace city-issued gift certificates with a cryptocurrency. Currently, nine cities of Gyeongsangbuk-do separately issue their own gift certificates, which are local currencies that can be used in selected areas of the province, the publication explained. According to Naver, 60 municipalities nationwide, including nine cities in Gyeongsangbuk-do, currently use gift certificates as local currencies aimed at revitalizing local economies and preventing

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