South Korea's Finance Watchdog Is Forming a Crypto Division – CoinDesk

South Korea’s Financial Services Commission (FSC) has revealed it is setting up a department dedicated primarily to cryptocurrencies and blockchain. The FSC said the new department – dubbed the Financial Innovation Bureau – will focus on developing policy-making initiatives for the domestic blockchain and fintech industry, The Korea Times reported on Thursday. An FSC official was cited as … Read more

TSMC Says Crypto Mining Demand Will Fall in Q3 – CoinDesk

Semiconductor manufacturing giant TSMC said Thursday that it expects demand for cryptocurrency mining-related products to cool off during the third quarter of this year. The company – which manufactures components for bitcoin mining chip makers, including Bitmain – announced its second-quarter results, reporting that it made $7.85 billion in revenue. That figure represents a decline of 7.2 … Read more

BitFunder Operator 'Close to' Plea Bargain in SEC Fraud Case – CoinDesk

The operator of defunct bitcoin investment platform BitFunder and accused fraudster Jon Montroll is reportedly seeking a plea bargain over charges laid against him by the U.S. Securities Exchange Commission (SEC). FinanceFeeds indicated Thursday that, according to a document submitted by Montroll’s legal counsel, “a plea agreement agreed upon in principle and expected to be … Read more